Karazhyra Limited - Period Ending 2021-12-31

Karazhyra Limited

Contents

Company Information	1
Directors' Report	2
Profit and Loss Account	3
Balance Sheet	4
Notes to the Unaudited Financial Statements	5 to 7

Karazhyra Limited

Company Information

Directors

Mrs Elena Delieu Mr Benjamin James Weels

Registered office

2nd Floor 229 The Broadway London SW19 1SD

Karazhyra Limited

Directors' Report for the Year Ended 31 December 2021

The directors present their report and the financial statements for the year ended 31 December 2021.

Director of the company

The directors who held office during the year were as follows:

Mrs Elena Delieu

Mr Benjamin James Weels

Principal activity

The principal activity of the company is holding company

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 30 September 2022 and signed on its behalf by:
 

......................................... Mrs Elena Delieu Director

Karazhyra Limited

Profit and Loss Account for the Year Ended 31 December 2021

	Note	2021 $	2020 $
Turnover		22,871	87,415
Gross profit		22,871	87,415
Administrative expenses		(109,549)	(79,416)
Operating (loss)/profit		(86,678)	7,999
Other interest receivable and similar income		863,140	7,551
Interest payable and similar expenses		(836,700)	4,184
		26,440	11,735
(Loss)/profit before tax		(60,238)	19,734
(Loss)/profit for the financial year		(60,238)	19,734

Karazhyra Limited

(Registration number: 08679407)
Balance Sheet as at 31 December 2021

	Note	2021 $	2020 $
Fixed assets
Investments	4	2,500,114	2,500,114
Current assets
Debtors	5	15,598,370	203,572
Creditors: Amounts falling due within one year	6	(273,691)	(157,114)
Net current assets		15,324,679	46,458
Total assets less current liabilities		17,824,793	2,546,572
Creditors: Amounts falling due after more than one year	6	(15,338,458)	-
Net assets		2,486,335	2,546,572
Capital and reserves
Called up share capital		152	152
Profit and loss account		2,486,183	2,546,420
Shareholders' funds		2,486,335	2,546,572

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 30 September 2022 and signed on its behalf by:
 

......................................... Mrs Elena Delieu Director

Karazhyra Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: 2nd Floor 229 The Broadway London SW19 1SD

These financial statements were authorised for issue by the Board on 30 September 2022.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Basis of preparation

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.

Revenue recognition

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

Tax

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 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.

Investments

Investments in subsidiary undertaking are recognised at cost.

Leases

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease

Karazhyra Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2020 - 2).

4	Investments

	2021 $	2020 $
Investments in subsidiaries	2,500,114	2,500,114

Subsidiaries	$
Cost or valuation
At 1 January 2021	2,500,114
Provision
Carrying amount
At 31 December 2021	2,500,114
At 31 December 2020	2,500,114

5

Debtors

	Note	2021 $	2020 $
Amounts owed by group undertakings and undertakings in which the company has a participating interest		15,370,425	-
Other debtors		227,945	203,572
		15,598,370	203,572

Karazhyra Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

6

Creditors

Creditors: amounts falling due within one year

	2021 $	2020 $
Due within one year
Other creditors	273,691	157,114

Creditors: amounts falling due after more than one year

	Note	2021 $	2020 $
Due after one year
Loans and borrowings		15,338,458	-