Naila Kachra Investments Limited - Accounts to registrar (filleted) - small 18.2
Naila Kachra Investments Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
NAILA KACHRA INVESTMENTS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
NAILA KACHRA INVESTMENTS LIMITED (REGISTERED NUMBER: 11697928) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 6 |
NAILA KACHRA INVESTMENTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
DIRECTORS: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Enterprise Way |
Pinchbeck |
Spalding |
Lincolnshire |
PE11 3YR |
NAILA KACHRA INVESTMENTS LIMITED (REGISTERED NUMBER: 11697928) |
STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2020 |
2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
NAILA KACHRA INVESTMENTS LIMITED (REGISTERED NUMBER: 11697928) |
STATEMENT OF FINANCIAL POSITION - continued |
31 DECEMBER 2020 |
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 |
NAILA KACHRA INVESTMENTS LIMITED (REGISTERED NUMBER: 11697928) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
1. | STATUTORY INFORMATION |
Naila Kachra Investments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents investment income. Investment income is recognised as the company's right to receive payment is established. |
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. |
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 year was NIL (2019 - NIL). |
NAILA KACHRA INVESTMENTS LIMITED (REGISTERED NUMBER: 11697928) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
4. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1 January 2020 |
Additions |
Disposals | ( |
) |
Revaluations |
Exchange differences | ( |
) |
At 31 December 2020 |
NET BOOK VALUE |
At 31 December 2020 |
At 31 December 2019 |
Cost or valuation at 31 December 2020 is represented by: |
Other |
investments |
£ |
Valuation in 2019 | 368,662 |
Valuation in 2020 | 918,111 |
Cost | 9,583,765 |
10,870,538 |
5. | DEBTORS |
2020 | 2019 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
NAILA KACHRA INVESTMENTS LIMITED (REGISTERED NUMBER: 11697928) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2020 | 2019 |
£ | £ |
Bank loans |
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 | 2020 | 2019 |
value: | £ | £ |
Ordinary | 1 | 100 | 100 |
9. | RELATED PARTY DISCLOSURES |
The company is owned by the Naila Kachra Will Trust. During the year the company repaid £1,692,190 to the Trust (2019: was loaned £17,969,500 from the Trust), no interest was charged. At the year end the balance owing was £16,077,310 (2019: £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 £Nil (2019: £7,990,466) to this group on which interest was charged at rates of 5% and 7%. At the year end the balance owing was £7,504,475 (2019: £7,153,994) |