REGISTERED NUMBER: SC257756 (Scotland)

Financial Statements

for the Year Ended 31 August 2025

for

Khanna Properties Ltd.

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M Khanna

REGISTERED OFFICE:

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

REGISTERED NUMBER:

SC257756 (Scotland)

ACCOUNTANTS:

O'Haras Chartered Accountants

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

FIXED ASSETS

Property, plant and equipment

3

1,806

2,125

Investment property

4

630,000

750,000

631,806

752,125

CURRENT ASSETS

Debtors

5

284,946

293,946

Cash at bank

16,155

2,669

301,101

296,615

CREDITORS

Amounts falling due within one year

6

111,682

126,252

NET CURRENT ASSETS

189,419

170,363

TOTAL ASSETS LESS CURRENT LIABILITIES

821,225

922,488

CREDITORS

Amounts falling due after more than one year

7

(424,741

)

(510,217

)

PROVISIONS FOR LIABILITIES

9

(55,033

)

(56,116

)

NET ASSETS

341,451

356,155

CAPITAL AND RESERVES

Called up share capital

10

100

100

Investment Property

revaluation reserve

177,192

182,582

Retained earnings

164,159

173,473

SHAREHOLDERS' FUNDS

341,451

356,155

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

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

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 10 August 2026 and were signed by:

Mr M Khanna - Director

1.	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.

Going concern

The directors continue to be satisfied that the company has adequate resources to continue in operation for the next 12 months. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all 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.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Turnover

Revenue represents the amounts received from the rental of housing properties, excluding value added tax.

2.	EMPLOYEES AND DIRECTORS

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

3.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 September 2024

and 31 August 2025

4,194

1,090

5,284

DEPRECIATION

At 1 September 2024

2,069

1,090

3,159

Charge for year

319

-

319

At 31 August 2025

2,388

1,090

3,478

NET BOOK VALUE

At 31 August 2025

1,806

-

1,806

At 31 August 2024

2,125

-

2,125

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2024

750,000

Disposals

(120,000

)

At 31 August 2025

630,000

NET BOOK VALUE

At 31 August 2025

630,000

At 31 August 2024

750,000

Fair value at 31 August 2025 is represented by:

£

Valuation in 2018

197,442

Valuation in 2023

46,000

Cost

386,558

630,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

284,946

293,946

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

39,828

39,934

Taxation and social security

6,935

9,907

Other creditors

64,919

76,411

111,682

126,252

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

424,741

510,217

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

284,153

350,480

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

464,569

550,151

Shawbrook bank hold a security charge over all the assets of the company.

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

55,033

56,116

Deferred

tax

£

Balance at 1 September 2024

56,116

Provided during year

(1,083

)

Balance at 31 August 2025

55,033

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

11.	RELATED PARTY DISCLOSURES

There is a balance owed to the director of £73,912 (2023 - £120,490) as at 31st August 2024. No interest was charged on this balance and there are no formal repayment terms.