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REGISTERED NUMBER: 07269771 (England and Wales)















KYAIAWIRE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021






KYAIAWIRE LIMITED (REGISTERED NUMBER: 07269771)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KYAIAWIRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: A Cumming
F Oliveira Frederico





SECRETARY: Aldbury Secretaries





REGISTERED OFFICE: 3 Kensworth Gate
200-204 High Street South
Dunstable
Bedfordshire
LU6 3HS





REGISTERED NUMBER: 07269771 (England and Wales)





ACCOUNTANTS: Higginson & Co (UK) Ltd
3 Kensworth Gate
200 - 204 High Street South
Dunstable
Bedfordshire
LU6 3HS

KYAIAWIRE LIMITED (REGISTERED NUMBER: 07269771)

BALANCE SHEET
31 DECEMBER 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,572 26,509

CURRENT ASSETS
Stocks 290,042 377,488
Debtors 5 169,180 156,644
Cash at bank and in hand 361,784 186,739
821,006 720,871
CREDITORS
Amounts falling due within one year 6 315,882 309,338
NET CURRENT ASSETS 505,124 411,533
TOTAL ASSETS LESS CURRENT
LIABILITIES

519,696

438,042

CREDITORS
Amounts falling due after more than one
year

7

(294,118

)

(294,118

)

PROVISIONS FOR LIABILITIES 8 (2,023 ) (4,128 )
NET ASSETS 223,555 139,796

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 223,455 139,696
SHAREHOLDERS' FUNDS 223,555 139,796

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

KYAIAWIRE LIMITED (REGISTERED NUMBER: 07269771)

BALANCE SHEET - continued
31 DECEMBER 2021


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 April 2022 and were signed on its behalf by:




A Cumming - Director



F Oliveira Frederico - Director


KYAIAWIRE LIMITED (REGISTERED NUMBER: 07269771)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. STATUTORY INFORMATION

Kyaiawire 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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.
Plant and machinery etc - 25% on cost and 20% on cost

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2020 - 10 ) .

KYAIAWIRE LIMITED (REGISTERED NUMBER: 07269771)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 January 2021
and 31 December 2021 37,233 97,487 2,059 136,779
DEPRECIATION
At 1 January 2021 18,616 89,595 2,059 110,270
Charge for year 7,447 4,490 - 11,937
At 31 December 2021 26,063 94,085 2,059 122,207
NET BOOK VALUE
At 31 December 2021 11,170 3,402 - 14,572
At 31 December 2020 18,617 7,892 - 26,509

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Other debtors 169,180 156,644

Included in other debtors is an amount of £144,211 (2020 £131,676) in respect of costs incurred in the setting up and running of the Dublin store for Kyaiawire Dublin Limited. A company registered in Eire. A company under the common control of the directors of Kyaiawire Limited. Included in other creditors is an amount of £155,765 (2020 £146,893) owed to Kyaiawire Dublin Limited.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade creditors 72,943 85,930
Dublin Stock 155,765 146,893
Corporation tax 20,851 36
Social security and other taxes 35 2,104
VAT 52,360 60,530
Other creditors 83 -
Accrued expenses 13,845 13,845
315,882 309,338

KYAIAWIRE LIMITED (REGISTERED NUMBER: 07269771)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.21 31.12.20
£    £   
Amounts owed to group undertakings 150,000 150,000
Amounts owed to participating interests 144,118 144,118
294,118 294,118

8. PROVISIONS FOR LIABILITIES
31.12.21 31.12.20
£    £   
Deferred tax 2,023 4,128

Deferred
tax
£   
Balance at 1 January 2021 4,128
Credit to Income Statement during year (2,105 )
Accelerated capital allowances
Balance at 31 December 2021 2,023

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.12.21 31.12.20
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 January 2021 139,696
Profit for the year 83,759
At 31 December 2021 223,455

11. RELATED PARTY DISCLOSURES

At the period end the company owed £150,000 to its parent company Foreva Comercio De Calcado SA and £144,118 to its participating interest Wire 63 Ltd.
During the year the company paid its participating interest Wire 63 Ltd £12,000 (2020 £ 12,000) management charges in consideration for the management of the shops.

KYAIAWIRE LIMITED (REGISTERED NUMBER: 07269771)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


12. ULTIMATE CONTROLLING PARTY

The company is Ultimately controlled by Foreva Comercio De Calcado SA and Wire 63 Ltd.