Karma Growth Limited

Karma Growth Limited

KARMA GROWTH LIMITED - Company Information

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1 December 2018 false Taxfiler 2020.14 08771363business:PrivateLimitedCompanyLtd2018-12-012019-11-30 087713632018-11-30 087713632018-12-012019-11-30 08771363business:AuditExemptWithAccountantsReport2018-12-012019-11-30 08771363business:FullAccounts2018-12-012019-11-30 087713632019-11-30 08771363business:Director12018-12-012019-11-30 08771363business:RegisteredOffice2018-12-012019-11-30 087713632018-11-30 08771363core:WithinOneYear2019-11-30 08771363core:WithinOneYear2018-11-30 08771363core:AfterOneYear2019-11-30 08771363core:AfterOneYear2018-11-30 08771363core:ShareCapital2019-11-30 08771363core:ShareCapital2018-11-30 08771363core:RetainedEarningsAccumulatedLosses2019-11-30 08771363core:RetainedEarningsAccumulatedLosses2018-11-30 08771363business:SmallEntities2018-12-012019-11-30 08771363countries:EnglandWales2018-12-012019-11-30 08771363core:ComputerEquipment2018-12-012019-11-30 08771363core:ComputerEquipment2018-11-30 08771363core:ComputerEquipment2019-11-30 08771363business:OrdinaryShareClass12018-12-012019-11-30 08771363business:OrdinaryShareClass12017-12-012018-11-30 087713632017-12-012018-11-30 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 08771363 (England and Wales)
Karma Growth Limited Unaudited accounts for the year ended 30 November 2019
Karma Growth Limited Unaudited accounts Contents
Page
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Karma Growth Limited Company Information for the year ended 30 November 2019
Director
R. S. Giana
Company Number
08771363 (England and Wales)
Registered Office
150 Enterprise House St Davids Square London E14 3WD
Accountants
SimplTax Limited 103 High Street Waltham Cross Herts EN87AN
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Karma Growth Limited Accountants' report
Accountants' report to the director of Karma Growth Limited on the preparation of the unaudited statutory accounts for the year ended 30 November 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Karma Growth Limited for the year ended 30 November 2019 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Karma Growth Limited, as a body, in accordance with the terms of our engagement letter dated 24 August 2018. Our work has been undertaken solely to prepare for your approval the accounts of Karma Growth Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Karma Growth Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Karma Growth Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Karma Growth Limited. You consider that Karma Growth Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Karma Growth Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
SimplTax Limited 103 High Street Waltham Cross Herts EN87AN 23 November 2020
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Karma Growth Limited Statement of financial position as at 30 November 2019
2019 
2018 
Notes
£ 
£ 
Current assets
Cash at bank and in hand
37,623 
28,349 
Creditors: amounts falling due within one year
5
(16,672)
(14,701)
Net current assets
20,951 
13,648 
Total assets less current liabilities
20,951 
13,648 
Creditors: amounts falling due after more than one year
6
(1,725)
(1,775)
Net assets
19,226 
11,873 
Capital and reserves
Called up share capital
7
100 
100 
Profit and loss account
19,126 
11,773 
Shareholders' funds
19,226 
11,873 
For the year ending 30 November 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 November 2020 and were signed on its behalf by
R. S. Giana Director Company Registration No. 08771363
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Karma Growth Limited Notes to the Accounts for the year ended 30 November 2019
1
Statutory information
Karma Growth Limited is a private company, limited by shares, registered in England and Wales, registration number 08771363. The registered office is 150 Enterprise House, St Davids Square, London, E14 3WD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33.3% straight line
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 December 2018
1,150 
At 30 November 2019
1,150 
Depreciation
At 1 December 2018
1,150 
At 30 November 2019
1,150 
Net book value
At 30 November 2019
- 
5
Creditors: amounts falling due within one year
2019 
2018 
£ 
£ 
Loans from directors
16,672 
14,701 
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Karma Growth Limited Notes to the Accounts for the year ended 30 November 2019
6
Creditors: amounts falling due after more than one year
2019 
2018 
£ 
£ 
Taxes and social security
1,725 
1,775 
7
Share capital
2019 
2018 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Transactions with related parties
The company was under the control of Ms R. S. Giana throughout the current year. Ms R. S. Giana is personally interested in 100% of the company's issued share capital.
9
Average number of employees
During the year the average number of employees was 0 (2018: 0).
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