REGISTERED NUMBER: 12020146 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2024

for

UK Religious Development Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr M Kalairajah

Dr M Subbiah

REGISTERED OFFICE:

8 Old Manor Way

Chislehurst

Kent

BR7 5XS

REGISTERED NUMBER:

12020146 (England and Wales)

ACCOUNTANTS:

Garside and Co. Limited

Suite 631, Linen Hall

162-168 Regent Street

London

W1B 5TG

FIXED ASSETS

Tangible assets

4

705,627

733,697

CURRENT ASSETS

Debtors

5

-

8,664

Cash at bank

14,104

16,891

14,104

25,555

CREDITORS

Amounts falling due within one year

6

(3,782

)

(2,882

)

NET CURRENT ASSETS

10,322

22,673

TOTAL ASSETS LESS CURRENT LIABILITIES

715,949

756,370

CREDITORS

Amounts falling due after more than one year

7

(871,627

)

(871,627

)

NET LIABILITIES

(155,678

)

(115,257

)

CAPITAL AND RESERVES

Called up share capital

9

12,627

12,627

Retained earnings

(168,305

)

(127,884

)

(155,678

)

(115,257

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 24 August 2026 and were signed on its behalf by:

Dr M Subbiah - Director

1.	STATUTORY INFORMATION

UK Religious Development 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 financial statements are prepared on the going concern basis.

Income

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

Donations are recognised when the company has control over them, there are no conditions associated with the donations.

Tangible fixed assets

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities incorporating income and expenditure account.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold property - 10% straight line.

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.

Loans

All loans are non interest bearing.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Freehold

property

Land

Totals

£

£

£

COST

At 1 June 2023

and 31 May 2024

280,703

563,739

844,442

DEPRECIATION

At 1 June 2023

110,745

-

110,745

Charge for year

28,070

-

28,070

At 31 May 2024

138,815

-

138,815

NET BOOK VALUE

At 31 May 2024

141,888

563,739

705,627

At 31 May 2023

169,958

563,739

733,697

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.24

31.5.23

£

£

Trade debtors

-

8,663

Other debtors

-

1

-

8,664

Trade debtors in 2023 represent amounts owed by a related party. In 2024 this amount was provided for in full. Further information is provided in Note 11.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.24

31.5.23

£

£

Trade creditors

3,782

2,882

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.24

31.5.23

£

£

Thirukarthikai fund loan

5,000

5,000

Option holder's loans : See

note 9 for further details

18,050

18,050

Founder's loans

848,577

848,577

871,627

871,627

All loans are non-interest bearing.

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.24

31.5.23

£

£

Founder's loans

848,577

848,577

Founder's loans are secured by a fixed charge over the assets of the Company.

9.	CALLED UP SHARE CAPITAL

Alloted and issued:

Number

Class of shares

Nominal value

31.5.22

£

£

125

Ordinary A

1

125

125

Ordinary B

100

12, 500

2

Ordinary C

1

2

252

12,267

At 31 May 2024, the issued share capital was £12,267 comprising of 252 Ordinary Class A, B and C issued shares as per the table above.

Additionally, prospective shareholders have committed to advance money to the company in installments under the terms of an "option" agreement. Once all such installment payments have been paid, the company will issue new shares to said prospective investors. At the reporting date the amount of installments still due to be paid from investments was £100,950. If such payments are made in full an additional 17 Ordinary A shares and 17 Ordinary B Shares will be issued. If full payment is not received the company is under no legal obligation to return funds already paid to investor.

10.	RELATED PARTY DISCLOSURES

The directors of the company are also directors of UK Hindu Developments Limited a company incorporated in England and Wales with registration number 12181017. In 2023 included in trade debtors (see Note 6) were amounts owed by UK Hindu Developments Limited. These amounts related to operating costs which were paid for by UK Religious Developments Limited. In 2024, the directors assessed that there was a risk of non recoverability of this debtor and a provision was made in full.