| Kathryn Virji Limited |
| Registered number: |
07954656 |
| Balance Sheet |
| as at 28 February 2023 |
|
| Notes |
|
|
2023 |
|
|
2022 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
4,784 |
|
|
6,096 |
|
| Current assets |
| Debtors |
4 |
|
25,755 |
|
|
54,249 |
| Cash at bank and in hand |
|
|
28,343 |
|
|
10,150 |
|
|
|
54,098 |
|
|
64,399 |
|
| Creditors: amounts falling due within one year |
5 |
|
(39,386) |
|
|
(32,004) |
|
| Net current assets |
|
|
|
14,712 |
|
|
32,395 |
|
| Total assets less current liabilities |
|
|
|
19,496 |
|
|
38,491 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(22,983) |
|
|
(43,170) |
|
| Provisions for liabilities |
|
|
|
(385) |
|
|
(514) |
|
|
| Net liabilities |
|
|
|
(3,872) |
|
|
(5,193) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
(3,972) |
|
|
(5,293) |
|
| Shareholders' funds |
|
|
|
(3,872) |
|
|
(5,193) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| C Langton |
| Director |
| Approved by the board on 30 November 2023 |
|
| Kathryn Virji Limited |
| Notes to the Accounts |
| for the year ended 28 February 2023 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared in accordance with Financial Reporting Standard 102 (FRS102) and the Companies Act 2006 (as applicable to companies subject to the small company regime).
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services and associated costs. When the outcome of a contract for services can be estimated reliably turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Land and buildings |
over 10 years |
|
Plant and machinery |
25% reducing balance |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
Going concern |
|
The major part of the company's working capital requirements are provided by bank borrowings as detailed in the creditors notes. The directors do not consider that the bank borrowings will be withdrawn and therefore continue to adopt the going concern basis in preparing the financial statements which assumes that the company will continue in operation for the foreseeable future. |
|
|
| 2 |
Employees |
2023 |
|
2022 |
| Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Land and buildings |
|
Plant and machinery |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 March 2022 |
6,360 |
|
17,236 |
|
23,596 |
|
At 28 February 2023 |
6,360 |
|
17,236 |
|
23,596 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 March 2022 |
2,968 |
|
14,532 |
|
17,500 |
|
Charge for the year |
636 |
|
676 |
|
1,312 |
|
At 28 February 2023 |
3,604 |
|
15,208 |
|
18,812 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 28 February 2023 |
2,756 |
|
2,028 |
|
4,784 |
|
At 28 February 2022 |
3,392 |
|
2,704 |
|
6,096 |
|
|
| 4 |
Debtors |
2023 |
|
2022 |
| £ |
£ |
|
|
Trade debtors |
- |
|
8,034 |
|
Other debtors |
25,755 |
|
46,215 |
|
|
|
|
|
|
25,755 |
|
54,249 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
| £ |
£ |
|
|
Bank loans and overdrafts |
20,187 |
|
18,203 |
|
Trade creditors |
105 |
|
942 |
|
Taxation and social security costs |
17,291 |
|
9,966 |
|
Other creditors |
1,803 |
|
2,893 |
|
|
|
|
|
|
39,386 |
|
32,004 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
| £ |
£ |
|
|
Bank loans |
22,983 |
|
43,170 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Share capital |
Nominal |
|
2023 |
|
2023 |
|
2022 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
K Virji and C Langton |
|
Interest on amounts due were charged in the year of £1,014 |
45,837 |
|
19,014 |
|
(47,745) |
|
17,106 |
|
|
|
45,837 |
|
19,014 |
|
(47,745) |
|
17,106 |
|
|
|
|
|
|
|
|
|
|
| 9 |
Other information |
|
|
Kathryn Virji Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Kiln Cottage |
|
Pottery Lane |
|
Wrecclesham |
|
Farnham |
|
GU10 4QJ |
