Naila Kachra Investments Limited - Accounts to registrar (filleted) - small 18.2

NAILA KACHRA INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

27 NOVEMBER 2018 TO 31 DECEMBER 2019

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

A A Kachra

M N Smith

REGISTERED OFFICE:

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

BUSINESS ADDRESS:

26 Park Road

Melton Mowbray

Leicestershire

REGISTERED NUMBER:

11697928 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

FIXED ASSETS

Investments

4

9,858,687

CURRENT ASSETS

Debtors

5

7,158,576

Cash at bank

5,354,454

12,513,030

CREDITORS

Amounts falling due within one year

6

21,825,130

NET CURRENT LIABILITIES

(9,312,100

)

TOTAL ASSETS LESS CURRENT LIABILITIES

546,587

PROVISIONS FOR LIABILITIES

70,047

NET ASSETS

476,540

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

476,440

SHAREHOLDERS' FUNDS

476,540

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2019 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 and authorised for issue by the Board of Directors and authorised for issue on 26 November 2020 and were signed on its behalf by:

A A Kachra - Director

1.	STATUTORY INFORMATION

Naila Kachra Investments 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents investment income. Investment income is recognised as the company's right to receive payment is established.

Taxation

Taxation for the period 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 period 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.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

Additions

9,904,791

Disposals

(414,766

)

Revaluations

368,662

At 31 December 2019

9,858,687

NET BOOK VALUE

At 31 December 2019

9,858,687

Cost or valuation at 31 December 2019 is represented by:

Other

investments

£

Valuation in 2019

368,662

Cost

9,490,025

9,858,687

5.

DEBTORS

£

Amounts falling due within one year:

Other debtors

2,209,308

Amounts falling due after more than one year:

Other debtors

4,949,268

Aggregate amounts

7,158,576

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

4,000,000

Taxation and social security

24,131

Other creditors

17,800,999

21,825,130

7.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

4,000,000

The bank loan is secured by a fixed floating charge with a negative pledge in favour of Barclays Bank plc.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

1

100

100 Ordinary shares of 1 each were allotted and fully paid for cash at par during the period.

9.	RELATED PARTY DISCLOSURES

The company is owned by the Naila Kachra Will Trust. During the year the company was loaned £17,969,500 by the trust on which no interest was charged. At the year end the balance owing was £17,769,500.

One of the directors of this company is also a director of the Kachra Holdings Ltd. During the year the company loaned £7,990,466 to this group on which interest was charged at rates of 5% and 7%.