REGISTERED NUMBER: 11210911 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Kheri Holdings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

T S Gill

REGISTERED OFFICE:

51 Gloucester Terrace

London

United Kingdom

W2 3DQ

REGISTERED NUMBER:

11210911 (England and Wales)

ACCOUNTANTS:

Euro Ashfords (UK) Ltd

2nd Floor,

39 Ludgate hill

London

EC4M 7JN

FIXED ASSETS

Investments

4

14,306,307

14,156,307

Investment property

5

10,845,820

10,845,820

25,152,127

25,002,127

CURRENT ASSETS

Debtors

6

440,266

425,428

Cash at bank

1,287,123

1,094,526

1,727,389

1,519,954

CREDITORS

Amounts falling due within one year

7

5,159,926

4,959,950

NET CURRENT LIABILITIES

(3,432,537

)

(3,439,996

)

TOTAL ASSETS LESS CURRENT LIABILITIES

21,719,590

21,562,131

PROVISIONS FOR LIABILITIES

9

178,363

178,363

NET ASSETS

21,541,227

21,383,768

CAPITAL AND RESERVES

Called up share capital

3

3

Merger reserves

10

18,845,894

18,845,894

Retained earnings

10

2,695,330

2,537,871

21,541,227

21,383,768

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 3 December 2025 and were signed by:

T S Gill - Director

1.	STATUTORY INFORMATION

Kheri Holdings 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.

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are

provided in accordance with the stage of completion of the contract when all of the following

conditions are satisfied:

- the amount of revenue can be measured reliably;- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

-the costs incurred and the costs to complete the contract can be measured reliably.

Investments in associates

VALUATION OF INVESTMENTS

Investments in subsidiaries and associates are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each Balance Sheet date.

Gains and losses on remeasurement are recognised in profit or loss for the period.

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

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.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Going concern

The director has reviewed the cash flows of the business for a period of 12 months from the date of sign off of these financial statementS and have prepared the accounts on the going concern basis accordingly.

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Interest

in

Unlisted

associate

investments

Totals

£

£

£

COST

At 1 January 2024

14,156,307

-

14,156,307

Additions

-

150,000

150,000

At 31 December 2024

14,156,307

150,000

14,306,307

NET BOOK VALUE

At 31 December 2024

14,156,307

150,000

14,306,307

At 31 December 2023

14,156,307

-

14,156,307

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

10,845,820

NET BOOK VALUE

At 31 December 2024

10,845,820

At 31 December 2023

10,845,820

The fair value of the investment properties has been arrived by the directors' estimate of an open market

value. The directors' believe that the carrying amounts in the financial statement approximate to their fair

values.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

345,025

345,025

Other debtors

80,403

80,403

Prepayments and accrued income

14,838

-

440,266

425,428

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other loans (see note 8)

298,444

298,444

Trade creditors

521,500

2,855

Amounts owed to group undertakings

91,363

91,363

Amounts owed to participating interests

2,081,946

2,081,946

Tax

52,739

70,484

Other creditors

508,538

818,259

Advanced deposits

44,457

44,047

Rent received in advance

54,266

45,159

Accruals and deferred income

1,504,273

1,504,273

Accrued expenses

2,400

3,120

5,159,926

4,959,950

8.

LOANS

An analysis of the maturity of loans is given below:

31.12.24

31.12.23

£

£

Amounts falling due within one year or on demand:

Other loans

298,444

298,444

9.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

Accelerated capital allowances

178,363

178,363

Deferred

tax

£

Balance at 1 January 2024

178,363

Balance at 31 December 2024

178,363

10.

RESERVES

Retained

Merger

earnings

reserves

Totals

£

£

£

At 1 January 2024

2,537,871

18,845,894

21,383,765

Profit for the year

157,459

157,459

At 31 December 2024

2,695,330

18,845,894

21,541,224

11.	RELATED PARTY DISCLOSURES

At the balance sheet date, the director Mr. Taranjit Singh Gill owned 100% of the company’s shares and is therefore the ultimate controlling party.

The following balances were outstanding with related parties at the year-end:

Related Party

Relationship / Control

Amounts Owed (to / by 2024 (£

)

Amounts Owed (to / by 2023 (£

)

JJM (Holdings) UK Ltd

Mr Taranjit Singh Gill – 66.67% shareholder and director

252,119

252,119

Kheri Trading Ltd

Mr Taranjit Singh Gill – 100% shareholder and director

2,492,011

2,081,946

Gill London III Limited

Related company

nil

nil

Gill & Company Fashions Ltd

Mr Taranjit Singh Gill – 50% shareholder

(660,420

)

(599,920

)

Rajigold Holdings Ltd

Related company

(470,000

)

(75,000

)

Kheri Properties Ltd

Mr Taranjit Singh Gill – 100% shareholder and director

(23,848

)

(23,848

)

Lime Green Investments Ltd

100% owned subsidiary

(67,515

)

(67,515

)

3 Colleton Crescent

Related

(23,339

)

(23,339

)

The above balances are interest-free, unsecured and repayable on demand.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is T S Gill.