Dil Khan Property Group Ltd Filleted accounts for Companies House (small and micro)

DIL KHAN PROPERTY GROUP LTD - Company Information

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COMPANY REGISTRATION NUMBER: 11676582

Dil Khan Property Group Ltd

Filleted Unaudited Financial Statements

30 November 2022

Dil Khan Property Group Ltd

Financial Statements

Year ended 30 November 2022

Contents	Page

Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	3

Dil Khan Property Group Ltd

Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Dil Khan Property Group Ltd

Year ended 30 November 2022

As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 30 November 2022, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

VAGHELA & CO. (SERVICES) LTD. Chartered Certified Accountants

P.O. Box 10901 Birmingham B1 1ZQ

30 August 2023

Dil Khan Property Group Ltd

Statement of Financial Position

30 November 2022

	2022	2021
Note	£	£

Current assets

Stocks	–	258,795
Cash at bank and in hand	150,331	108,782
	---------	---------
	150,331	367,577

Creditors: amounts falling due within one year	5	152,483	386,257
		---------	---------
Net current liabilities		2,152	18,680
		-------	--------
Total assets less current liabilities		( 2,152)	( 18,680)
		-------	--------
Net liabilities		( 2,152)	( 18,680)
		-------	--------

Capital and reserves

Called up share capital	6	100	100
Profit and loss account		( 2,252)	( 18,780)
		-------	--------
Shareholders deficit		( 2,152)	( 18,680)
		-------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 30 August 2023 , and are signed on behalf of the board by:

Mr D. Khan
Director

Company registration number: 11676582

Dil Khan Property Group Ltd

Notes to the Financial Statements

Year ended 30 November 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Studio 10 Clarks Courtyard, 145 Granville Street, Birmingham, B1 1SB.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Freehold property	-	4% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Tax on profit/(loss)

Major components of tax expense

	2022	2021
	£	£

Current tax:

UK current tax expense	879	–
	----	----
Tax on profit/(loss)	879	–
	----	----

Reconciliation of tax expense

The tax assessed on the profit/(loss) on ordinary activities for the year is lower than (2021: the same as) the standard rate of corporation tax in the UK of 19 % (2021: 19 %).

	2022	2021
	£	£
Profit/(loss) on ordinary activities before taxation	17,407	( 11,883)
	--------	--------
Profit/(loss) on ordinary activities by rate of tax	3,307	–
Utilisation of tax losses	( 2,428)	–
	--------	--------
Tax on profit/(loss)	879	–
	--------	--------

5. Creditors: amounts falling due within one year

	2022	2021
	£	£
Corporation tax	879	–
Other creditors	151,604	386,257
	---------	---------
	152,483	386,257
	---------	---------

6. Called up share capital

Issued, called up and fully paid

	2022		2021
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

7. Director's advances, credits and guarantees

During the period advances and credits were made between the director Dilnawaz Khan and the company. At the period end £150,444 (2021 - £221,336) was owed to the director. The loan is interest-free but repayable on demand.