Karma Assets Limited
Karma Assets Limited
Registered number: 08162449
Unaudited Financial Statements
For The Year Ended
31 March 2023
AUDITA LTD
11 CUNDY ROAD
CUSTOM HOUSE
LONDON
E16 3DJ
Karma Assets Limited
Unaudited Financial Statements
For The Year Ended
31 March 2023
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—4 |
Page 1
Karma Assets Limited
Balance Sheet
As At
31 March 2023
Balance Sheet
Registered number:
08162449
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
| 31 March 2023 | 31 March 2022 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 4 |
|
|
||
| Investment Properties | 5 |
|
|
||
|
|
|
||||
| CURRENT ASSETS | |||||
| Debtors | 6 |
|
|
||
| Cash at bank and in hand |
|
|
|||
|
|
|
||||
| Creditors: Amounts Falling Due Within One Year | 7 |
( |
( |
||
| NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
| Creditors: Amounts Falling Due After More Than One Year | 8 |
( |
( |
||
| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation |
( |
( |
|||
| NET ASSETS |
|
|
|||
| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
|
|
||
| Other reserves |
|
|
|||
| Profit and Loss Account |
( |
( |
|||
| SHAREHOLDERS' FUNDS | 2,853,193 | 2,884,615 | |||
Page 1
Page 2
Karma Assets Limited
Balance Sheet (continued)
As At
31 March 2023
On behalf of the board
|
Director
|
|
|
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Karma Assets Limited
Notes to the Financial Statements
For The Year Ended
31 March 2023
Notes to the Financial Statements
1.
General Information
Karma Assets Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
08162449
. The registered office is 93-95 High Street, Brentwood, CM14 4RR.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
|
| Fixtures & Fittings |
|
2.3.
Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
4.
Tangible Assets
| Plant & Machinery | Fixtures & Fittings | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at
|
|
|
|
| As at
|
|
|
|
| Depreciation | |||
| As at
|
|
|
|
| Provided during the period |
|
|
|
| As at
|
|
|
|
| Net Book Value | |||
| As at
|
|
|
|
| As at
|
|
|
|
5.
Investment Property
| 31 March 2023 | |
|---|---|
| £ | |
| Fair Value | |
| As at
|
|
Page 3
Page 4
Karma Assets Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
6.
Debtors
| 31 March 2023 | 31 March 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| VAT |
|
|
|
| Director's loan account |
|
|
|
|
|
|
||
| Due after more than one year | |||
| Other debtors |
|
|
|
|
|
|
||
|
|
|
||
7.
Creditors: Amounts Falling Due Within One Year
| 31 March 2023 | 31 March 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
|
|
|
||
8.
Creditors: Amounts Falling Due After More Than One Year
| 31 March 2023 | 31 March 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
|
|
|
| Other creditors |
|
|
|
|
|
|
||
9.
Share Capital
| 31 March 2023 | 31 March 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Allotted, Called up and fully paid |
|
|
|
10.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
| As at
|
Amounts advanced | Amounts repaid | Amounts written off | As at
|
|
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Ms ZIVILE MILUSAUSKAITE |
( |
|
|
- |
( |
The above loan is unsecured, interest free and repayable on demand.
Page 4