KALA ENTERPRISES LIMITED

KALA ENTERPRISES LIMITED

KALA ENTERPRISES LIMITED - Company Information

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KALA ENTERPRISES LIMITED

Company Registration Number:
03076021 (England and Wales)

Unaudited abridged accounts for the year ended 28 February 2021

Period of accounts

Start date: 01 March 2020

End date: 28 February 2021

KALA ENTERPRISES LIMITED

Contents of the Financial Statements

for the Period Ended 28 February 2021

Balance sheet
Notes

KALA ENTERPRISES LIMITED

Balance sheet

As at 28 February 2021


Notes
2021
2020


£
£
Called up share capital not paid: 0 0
Fixed assets
Tangible assets: 3 1 1
Total fixed assets: 1 1
Current assets
Debtors:   633 633
Cash at bank and in hand: 1,017 11,052
Total current assets: 1,650 11,685
Creditors: amounts falling due within one year: 4 0 (10,034)
Net current assets (liabilities): 1,650 1,651
Total assets less current liabilities: 1,651 1,652
Total net assets (liabilities): 1,651 1,652
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 1,649 1,650
Shareholders funds: 1,651 1,652

The notes form part of these financial statements

KALA ENTERPRISES LIMITED

Balance sheet statements

For the year ending 28 February 2021 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 14 February 2022
and signed on behalf of the board by:

Name: Manjit Sohanpal
Status: Director

The notes form part of these financial statements

KALA ENTERPRISES LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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

Other accounting policies

Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. 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.

KALA ENTERPRISES LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2021

2. Employees

2021 2020
Average number of employees during the period 0 0

KALA ENTERPRISES LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2021

3. Tangible Assets

Total
Cost £
At 01 March 2020 1,239
At 28 February 2021 1,239
Depreciation
At 01 March 2020 1,238
At 28 February 2021 1,238
Net book value
At 28 February 2021 1
At 29 February 2020 1

KALA ENTERPRISES LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2021

4. Creditors: amounts falling due within one year note

Trade creditors £0 (2020 : £1)Taxation & Social security £0 (2020: £3,065)Other creditors £0 (2020: £6,970)Total £0 (2020: £10,034)

KALA ENTERPRISES LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2021

5. Post balance sheet events

There has been no significant event after the reporting date.