Casper KA Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09804259 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2020

for

Casper KA Holdings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M A D Farmer

REGISTERED OFFICE:

2nd Floor

9 Chapel Place

London

EC2A 3DQ

REGISTERED NUMBER:

09804259 (England and Wales)

ACCOUNTANTS:

Elliotts Shah

Chartered Accountants

4th Floor

167 Fleet Street

London

EC4A 2EA

FIXED ASSETS

Tangible assets

4

-

2,383

Investment property

5

2,350,000

2,300,000

2,350,000

2,302,383

CURRENT ASSETS

Debtors

6

9,156

28,580

CREDITORS

Amounts falling due within one year

7

2,861,319

1,088,883

NET CURRENT LIABILITIES

(2,852,163

)

(1,060,303

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(502,163

)

1,242,080

CREDITORS

Amounts falling due after more than one year

8

-

1,750,000

NET LIABILITIES

(502,163

)

(507,920

)

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

(502,263

)

(508,020

)

SHAREHOLDERS' FUNDS

(502,163

)

(507,920

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2020 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 30 July 2021 and were signed by:

M A D Farmer - Director

1.	STATUTORY INFORMATION

Casper KA Holdings 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

The financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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

These financial statements have been prepared on the going concern basis and assume the continued support of the bank, the former director, and the parent company.

Turnover

Turnover represents rents receivable for the period from the investment property, excluding VAT.

Tangible fixed assets

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

Fixtures and fittings

-

Straight line over 4 years

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 November 2019

and 31 October 2020

22,879

DEPRECIATION

At 1 November 2019

20,496

Charge for year

2,383

At 31 October 2020

22,879

NET BOOK VALUE

At 31 October 2020

-

At 31 October 2019

2,383

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2019

2,300,000

Revaluations

50,000

At 31 October 2020

2,350,000

NET BOOK VALUE

At 31 October 2020

2,350,000

At 31 October 2019

2,300,000

The investment property has been stated at fair value as determined by the director with reference to an independent valuation carried out during the year on behalf of the lenders. The historical cost of the property is £2,510,352.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Prepayments and accrued income

9,156

28,580

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

1,750,000

-

Trade creditors

12,399

11,856

Amounts owed to group undertakings

549,999

549,999

Other creditors

541,707

518,760

Accruals and deferred income

7,214

8,268

2,861,319

1,088,883

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans - 1-2 years

-

1,750,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

1,750,000

1,750,000

The bank loan is secured against the investment property and against another property owned by the former director, K Abbott.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Retained

earnings

£

At 1 November 2019

(508,020

)

Profit for the year

5,757

At 31 October 2020

(502,263

)

12.	CONTINGENT LIABILITIES

In order to secure the bank lending, the company has had to give a guarantee for the borrowings of the former director, K Abbott, in respect of a property owned by him which also forms part of the security for the company's borrowings. At the balance sheet date, the borrowings for which the guarantee relates was £1,715,000.

13.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Oceanic Venture Holdings Limited, a company registered in the British Virgin Islands. Oceanic Venture Holdings Limited in turn is a wholly owned subsidiary of MKR Frozen Foods Exports Pvt Ltd, a company incorporated in India.