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REGISTERED NUMBER: 07199155 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

Karmans Accountants Limited

Karmans Accountants Limited (Registered number: 07199155)

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

Company Information | 1 |

Abridged Statement of Financial Position | 2 |

Notes to the Financial Statements | 4 |

Karmans Accountants Limited

Company Information

for the Year Ended 31 March 2025

| DIRECTOR: | K Kanabar

| REGISTERED OFFICE: | 15 Albany Crescent

| Edgware

| Middlesex

| HA8 5AL

| REGISTERED NUMBER: | 07199155 (England and Wales)

Karmans Accountants Limited (Registered number: 07199155)

Abridged Statement of Financial Position

31 March 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 12,460 |  | 24,920 |  |

Tangible assets | 5 | 355 |  | 1,163 |  |

12,815 |  | 26,083 |  |

CURRENT ASSETS

Debtors | 20,845 |  | 28,884 |  |

Cash at bank | 1,906,984 |  | 1,714,235 |  |

1,927,829 |  | 1,743,119 |  |

CREDITORS

Amounts falling due within one year | 86,209 |  | 82,311 |  |

NET CURRENT ASSETS | 1,841,620 |  | 1,660,808 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,854,435 |  | 1,686,891 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | 1,854,335 |  | 1,686,791 |  |

SHAREHOLDERS' FUNDS | 1,854,435 |  | 1,686,891 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

Karmans Accountants Limited (Registered number: 07199155)

Abridged Statement of Financial Position - continued

31 March 2025

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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 19 September 2025 and were signed by:

K Kanabar - Director

Karmans Accountants Limited (Registered number: 07199155)

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Karmans Accountants 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.

| The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

| Turnover

| Turnover represents fees receivable excluding value-added-tax.

| Goodwill

| Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

| Goodwill recognised at acquisition is measured at cost less accumulated amortisation and accumulated impairment losses.

| Goodwill amortisation is charged on a straight line basis so as to write off the cost of the asset, less its residual value assumed to be zero, over its useful economic life.

| The company previously amortised goodwill over a life of 20 years, however in order to comply with the adoption of FRS 102 Section 1A, the company has changed the amortisation period to a life of within 10 years. The company did not adjust the carrying amount upon adoption which is in line with section 19.

| Goodwill relates to the acquisition of business in 2010 and the carrying amount is now being evenly amortised over a finite life of 10 years from the date of the change in policy, being the 1 April 2016.

| 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 | - | 25% on cost

| Computer equipment | - | 33% on cost

| 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 statement of financial position date.

Karmans Accountants Limited (Registered number: 07199155)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Deferred tax

| Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

| 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 1 (2024 - 1 ) .

4. | INTANGIBLE FIXED ASSETS

| Totals

£ |

| COST

| At 1 April 2024

| and 31 March 2025 | 178,000 |  |

| AMORTISATION

| At 1 April 2024 | 153,080 |  |

| Amortisation for year | 12,460 |  |

| At 31 March 2025 | 165,540 |  |

| NET BOOK VALUE

| At 31 March 2025 | 12,460 |  |

| At 31 March 2024 | 24,920 |  |

Karmans Accountants Limited (Registered number: 07199155)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

5. | TANGIBLE FIXED ASSETS

| Totals

£ |

| COST

| At 1 April 2024

| and 31 March 2025 | 13,111 |  |

| DEPRECIATION

| At 1 April 2024 | 11,948 |  |

| Charge for year | 808 |  |

| At 31 March 2025 | 12,756 |  |

| NET BOOK VALUE

| At 31 March 2025 | 355 |  |

| At 31 March 2024 | 1,163 |  |

6. | ULTIMATE CONTROLLING PARTY

| The controlling party is K Kanabar.