Karic Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12459345 (England and Wales)

Unaudited Financial Statements

for the Period

12 February 2020 to 28 February 2021

for

KARIC INVESTMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

J R Christie

K L Christie

Registered office:

Northern Assurance Buildings

9-21 Princess Street

Manchester

M2 4DN

Registered number:

12459345 (England and Wales)

Accountants:

Haines Watts Manchester Limited

Northern Assurance Buildings

9-21 Princess Street

Manchester

M2 4DN

Fixed assets

Tangible assets

5

145,516

Current assets

Debtors

6

81,297

Cash at bank

190,446

271,743

Creditors

Amounts falling due within one year

7

315,039

Net current liabilities

(43,296

)

Total assets less current liabilities

102,220

Creditors

Amounts falling due after more than one year

8

102,050

Net assets

170

Capital and reserves

Called up share capital

10

2

Retained earnings

168

Shareholders' funds

170

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2021 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 February 2022 and were signed on its behalf by:

J R Christie - Director

1.	Statutory information

Karic 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.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

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

Tangible fixed assets

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

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 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.

4.	Employees and directors

The average number of employees during the period was 2 .

5.	Tangible fixed assets

Freehold

property

£

Cost

Additions

145,516

At 28 February 2021

145,516

Net book value

At 28 February 2021

145,516

6.

Debtors: amounts falling due within one year

£

Other debtors

81,297

7.

Creditors: amounts falling due within one year

£

Other loans

315,000

Corporation tax

39

315,039

8.

Creditors: amounts falling due after more than one year

£

Bank loans more 5 yr by instal

102,050

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

102,050

9.	Secured debts

The following secured debts are included within creditors:

£

Bank loans

102,050

The loan is secured by fixed and floating charges over the company assets

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

2

Ordinary

1

2

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

11.	Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the period ended 28 February 2021:

£

J R Christie and K L Christie

Balance outstanding at start of period

-

Amounts advanced

60,002

Amounts repaid

(50,200

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

9,802

The above loan is interest free and repayable on demand.