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COMPANY REGISTRATION NUMBER: 01906034
Kojac Fashion Accessories UK Ltd
Filleted Unaudited Financial Statements
31 December 2021
Kojac Fashion Accessories UK Ltd
Balance Sheet
31 December 2021
2021
2020
Note
£
£
£
Fixed assets
Tangible assets
5
7,299
4,120
Investments
6
1
1
-------
-------
7,300
4,121
Current assets
Debtors
7
2,354,767
2,059,311
Cash at bank and in hand
285,524
278,924
------------
------------
2,640,291
2,338,235
Creditors: amounts falling due within one year
8
1,610,649
1,346,756
------------
------------
Net current assets
1,029,642
991,479
------------
---------
Total assets less current liabilities
1,036,942
995,600
Creditors: amounts falling due after more than one year
9
423
50,690
------------
---------
Net assets
1,036,519
944,910
------------
---------
Capital and reserves
Called up share capital
10,000
10,000
Profit and loss account
1,026,519
934,910
------------
---------
Shareholders funds
1,036,519
944,910
------------
---------
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 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Kojac Fashion Accessories UK Ltd
Balance Sheet (continued)
31 December 2021
These financial statements were approved by the board of directors and authorised for issue on 15 August 2022 , and are signed on behalf of the board by:
Mr J Malde
Director
Company registration number: 01906034
Kojac Fashion Accessories UK Ltd
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kimberley House, 31 Burnt Oak Broadway, Edgware, Greater London, HA8 5LD.
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.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimate of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services in recognised by reference to the stage of completion.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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:
Leasehold property
-
straight line over lease period
Fixtures and fittings
-
20% straight line basis
Computer equipment
-
33.33% straight line basis
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account. The company also operates an unapproved retirement scheme (FURBS) for the benefit of the directors. During the year no contributions were made to the fund (2020: £nil). At the balance sheet date, there were no outstanding or prepaid contributions.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2020: 14 ).
5. Tangible assets
Leasehold property
Fixtures and fittings
Computer equipment
Total
£
£
£
£
Cost
At 1 January 2021
2,155
175,035
196,355
373,545
Additions
8,100
8,100
-------
---------
---------
---------
At 31 December 2021
2,155
175,035
204,455
381,645
-------
---------
---------
---------
Depreciation
At 1 January 2021
2,155
175,035
192,235
369,425
Charge for the year
4,921
4,921
-------
---------
---------
---------
At 31 December 2021
2,155
175,035
197,156
374,346
-------
---------
---------
---------
Carrying amount
At 31 December 2021
7,299
7,299
-------
---------
---------
---------
At 31 December 2020
4,120
4,120
-------
---------
---------
---------
6. Investments
Shares in group undertakings
£
Cost
At 1 January 2021 and 31 December 2021
1
----
Impairment
At 1 January 2021 and 31 December 2021
----
Carrying amount
At 31 December 2021
1
----
At 31 December 2020
1
----
The company owns more than 20% of the issued share capital of the companies listed below.
Proportion
Subsidiary undertakings Holding Held Nature of business
Templin Limited Ordinary 50% Property Investment
shares
7. Debtors
2021
2020
£
£
Trade debtors
1,072,062
1,047,137
Other debtors
1,282,705
1,012,174
------------
------------
2,354,767
2,059,311
------------
------------
The debtors above include the following amounts falling due after more than one year:
2021
2020
£
£
Other debtors
1,105,383
998,286
------------
---------
8. Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
1,041,696
735,997
Accruals and deferred income
46,000
46,550
Social security and other taxes
13,450
9,041
Other creditors
509,503
555,168
------------
------------
1,610,649
1,346,756
------------
------------
9. Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
50,000
Director loan accounts
423
690
----
--------
423
50,690
----
--------