REGISTERED NUMBER: 09203605 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

LAL KILA COMPANIES LIMITED

T/A

HOPE & GLORY

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Intangible assets

4

3,733

5,133

Tangible assets

5

25,540

33,075

29,273

38,208

CURRENT ASSETS

Stocks

197,438

199,822

Debtors

6

213,709

121,749

411,147

321,571

CREDITORS

Amounts falling due within one year (including convertible debt)

7

(717,125

)

(433,025

)

NET CURRENT LIABILITIES

(305,978

)

(111,454

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(276,705

)

(73,246

)

CREDITORS

Amounts falling due after more than one year

8

(54,177

)

(14,167

)

NET LIABILITIES

(330,882

)

(87,413

)

CAPITAL AND RESERVES

Called up share capital

198,189

194,163

Share premium

1,930,037

1,834,064

Retained earnings

(2,459,108

)

(2,115,640

)

SHAREHOLDERS' FUNDS

(330,882

)

(87,413

)

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 directors acknowledge their 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 Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

B S Chudasama - Director

1.	STATUTORY INFORMATION

Lal Kila Companies 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.

The presentation currency of the financial statements is the Pound Sterling (£) and amounts are rounded to the nearest pound.

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.

Turnover

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

Turnover represents the rendering of goods and services in connection with organic teas.

Turnover is recognised when the entity meets the obligations to deliver goods and services to a customer in accordance with the terms and conditions of the sale.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of 5 years.

Tangible fixed assets

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

Improvements to property

-

20% on cost

Plant and machinery

-

20% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation

Taxation for the year comprises current 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 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The financial statements have been prepared on a going concern basis, not withstanding the company's net liabilities, as a director of the company continues to provide support as necessary and intends to ensure that there is adequate working capital for at least 12 months from the date of approval of these accounts. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 January 2024

and 31 December 2024

76,241

AMORTISATION

At 1 January 2024

71,108

Amortisation for year

1,400

At 31 December 2024

72,508

NET BOOK VALUE

At 31 December 2024

3,733

At 31 December 2023

5,133

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 January 2024

and 31 December 2024

67,061

134,161

333

201,555

DEPRECIATION

At 1 January 2024

67,061

101,419

-

168,480

Charge for year

-

7,451

84

7,535

At 31 December 2024

67,061

108,870

84

176,015

NET BOOK VALUE

At 31 December 2024

-

25,291

249

25,540

At 31 December 2023

-

32,742

333

33,075

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

138,479

45,941

Other debtors

75,230

75,808

213,709

121,749

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

18,986

15,777

Trade creditors

54,619

31,907

Taxation and social security

51,764

58,368

Other creditors

591,756

326,973

717,125

433,025

Included within other creditors are other loans of £76,000 due to related parties and £397,931 due to a director.

The loan due to related parties of £76,000 is unsecured and repayable on demand. Interest is charged at 7% per annum.

Further details of the loan due to the director can be found in note 11 below.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

4,167

14,167

Other creditors

50,010

-

54,177

14,167

Other creditors of £50,010 is a loan due to a third party. The loan is due to be repaid or converted to equity by 31 July 2027, is unsecured, and incurs interest of 9% per annum.

9.	SECURED DEBTS

The bank loan incurs interest at 2.5% per annum and is repayable by May 2026. A director of the company has provided a personal guarantee in respect of the company's borrowings and in addition the lenders have obtained a fixed and floating charge over the directors' residential property.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, B S Chudasama increased his loan to the company. As at 31 December 2024, the company owed him £397,391 (2023: £264,101) and is included within other creditors. This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.