Ksaro Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07414217

Ksaro Limited

Filleted Unaudited Financial Statements

31 October 2024

Ksaro Limited

Statement of Financial Position

31 October 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		888,766	857,227

Current assets

Debtors	6	15	15
Cash at bank and in hand		63,219	83,164
		--------	--------
		63,234	83,179

Creditors: amounts falling due within one year	7	884,073		861,149
		---------		---------
Net current liabilities			820,839	777,970
			---------	---------
Total assets less current liabilities			67,927	79,257

Provisions

Taxation including deferred tax	18,115	18,115
	--------	--------
Net assets	49,812	61,142
	--------	--------

Capital and reserves

Called up share capital	1	1
Profit and loss account	49,811	61,141
	--------	--------
Shareholders funds	49,812	61,142
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Ksaro Limited

Statement of Financial Position (continued)

31 October 2024

These financial statements were approved by the board of directors and authorised for issue on 31 October 2025 , and are signed on behalf of the board by:

Mr M. Parmar

Director

Company registration number: 07414217

Ksaro Limited

Notes to the Financial Statements

Year ended 31 October 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is c/o Vaghela & Co (Services) Ltd, 145 Granville St, Birmingham, B1 1SB.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

		-	15 % straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Tax on (loss)/profit

Major components of tax expense

	2024	2023
	£	£

Current tax:

UK current tax expense	1,712	–

Deferred tax:

Origination and reversal of timing differences	–	3,965
	-------	-------
Tax on (loss)/profit	1,712	3,965
	-------	-------

Reconciliation of tax expense

The tax assessed on the (loss)/profit on ordinary activities for the year is the same as (2023: higher than) the standard rate of corporation tax in the UK of 19 % (2023: 19 %).

	2024	2023
	£	£
(Loss)/profit on ordinary activities before taxation	( 9,618)	2,681
	-------	-------
(Loss)/profit on ordinary activities by rate of tax	1,712	–
Other tax adjustment to increase/(decrease) tax liability - desc in a/cs	–	3,965
	-------	-------
Tax on (loss)/profit	1,712	3,965
	-------	-------

5. Tangible assets

	Land and buildings	Plant and machinery	Equipment	Total
	£	£	£	£
Cost
At 1 November 2023	855,646	–	2,259	857,905
Additions	–	31,878	–	31,878
	---------	--------	-------	---------
At 31 October 2024	855,646	31,878	2,259	889,783
	---------	--------	-------	---------
Depreciation
At 1 November 2023	–	–	678	678
Charge for the year	–	–	339	339
	---------	--------	-------	---------
At 31 October 2024	–	–	1,017	1,017
	---------	--------	-------	---------
Carrying amount
At 31 October 2024	855,646	31,878	1,242	888,766
	---------	--------	-------	---------
At 31 October 2023	855,646	–	1,581	857,227
	---------	--------	-------	---------

6. Debtors

	2024	2023
	£	£
Other debtors	15	15
	----	----

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	1,679	1,679
Corporation tax	1,712	42
Other creditors	880,682	859,428
	---------	---------
	884,073	861,149
	---------	---------

8. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions	18,115	18,115
	--------	--------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Fair value adjustment of investment property	18,115	18,115
	--------	--------

9. Directors' advances, credits and guarantees

At 31st October 2024, other creditors include the following amounts due to the director:- Mr M. Parmar £873,617 (2023 - £853,163) The loans are interest free and repayable on demand

10. Related party transactions

No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.