REGISTERED NUMBER: 04590880 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Ghai & Co. Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K K Ghai

REGISTERED OFFICE:

1 Agincourt Villas

Uxbridge Road

Hillingdon

Middlesex

UB10 0NX

REGISTERED NUMBER:

04590880 (England and Wales)

ACCOUNTANTS:

SK Associates Ltd

1 Agincourt Villas

Uxbridge Road

Hillingdon

Middlesex

UB10 0NX

FIXED ASSETS

Tangible assets

4

5,605,805

5,556,606

CURRENT ASSETS

Debtors

5

3,663,567

3,690,720

Cash at bank

12,034

68,863

3,675,601

3,759,583

CREDITORS

Amounts falling due within one year

6

545,340

610,439

NET CURRENT ASSETS

3,130,261

3,149,144

TOTAL ASSETS LESS CURRENT LIABILITIES

8,736,066

8,705,750

CREDITORS

Amounts falling due after more than one year

7

(5,999,947

)

(5,989,616

)

PROVISIONS FOR LIABILITIES

(133,919

)

(133,919

)

NET ASSETS

2,602,200

2,582,215

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

9

1,316,942

1,316,942

Retained earnings

1,285,158

1,265,173

2,602,200

2,582,215

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 August 2025 and were signed by:

K K Ghai - Director

1.	STATUTORY INFORMATION

Ghai & Co. Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

5,556,000

251,884

5,807,884

Additions

49,350

-

49,350

At 31 December 2024

5,605,350

251,884

5,857,234

DEPRECIATION

At 1 January 2024

-

251,278

251,278

Charge for year

-

151

151

At 31 December 2024

-

251,429

251,429

NET BOOK VALUE

At 31 December 2024

5,605,350

455

5,605,805

At 31 December 2023

5,556,000

606

5,556,606

Cost or valuation at 31 December 2024 is represented by:

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

Valuation in 2024

77,847

251,884

329,731

Cost

5,527,503

-

5,527,503

5,605,350

251,884

5,857,234

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

3,663,567

3,690,720

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

139,588

139,588

Taxation and social security

23,815

4,983

Other creditors

381,937

465,868

545,340

610,439

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

1,595,388

1,687,057

Other creditors

4,404,559

4,302,559

5,999,947

5,989,616

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

1,734,976

1,826,645

9.

RESERVES

Revaluatio

reserve

£

At 1 January 2024

and 31 December 2024

1,316,942

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

K K Ghai

Balance outstanding at start of year

334,193

353,584

Amounts advanced

28,387

-

Amounts repaid

-

(19,391

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

362,580

334,193

11.	RELATED PARTY DISCLOSURES

The company was under the control of the directors. At the balance sheet date other creditors include an interest free loan of £2,427,921 (2023 - £2,427,921) from the shareholders in the company. This unsecured loan was taken to finance the purchase of the investment properties. It will become payable at the sale of the investment property or when the company can afford to repay it.

Other creditors also include a loan for the sum of £1,874,638 (2023 - £1,874,638) owed to Avamore Limited, a sum of £100,000 (2023 - £100,000) owed to Sareen Co Limited which is interest free, unsecured and repayable on demand.

Other debtors include an interest free loan for the sum of £667,518 (2023 - £677,518) owed from Ghai Properties Limited and £275,492 (2023 - £302,442) owed from Capathon Estate Limited and £623,100 (2023 - £619,500) owed from United Property 2001 Limited and £770,392 (2023 - £848,392 ) owed from Berkeley Realty Limited and £744,500 (2023 - £756,000) owed from Shamilar Property Limited and £468,728 (2023 - £433,728) owed from Point West Development Limited in these companies Mr K K Ghai is the director and 100% shareholder. These loans are unsecured and repayable on demand.