Registered number
10764889
KOLEKSIYON UNITED LTD
Filleted Accounts
31 March 2022
KOLEKSIYON UNITED LTD
Registered number: 10764889
Balance Sheet
as at 31 March 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 303 370
Current assets
Stocks 3,995 2,020
Debtors 4 19,467 19,915
Cash at bank and in hand 44,311 35,004
67,773 56,939
Creditors: amounts falling due within one year 5 (64,653) (49,876)
Net current assets 3,120 7,063
Total assets less current liabilities 3,423 7,433
Creditors: amounts falling due after more than one year 6 (2,412) (3,500)
Net assets 1,011 3,933
Capital and reserves
Called up share capital 100 100
Profit and loss account 911 3,833
Shareholder's funds 1,011 3,933
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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 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.
Ayse Malhan
Director
Approved by the board on 12 August 2022
KOLEKSIYON UNITED LTD
Notes to the Accounts
for the year ended 31 March 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on tangible fixed assets, other than in the year of acquisition, at rates calculated to write off the cost, less estimated residual value, as follows:
Equipment 18% Reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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).
Taxation
A corporation tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A corporation tax liability is not discounted.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Equipment
£
Cost
At 1 April 2021 550
At 31 March 2022 550
Depreciation
At 1 April 2021 180
Charge for the year 67
At 31 March 2022 247
Net book value
At 31 March 2022 303
At 31 March 2021 370
4 Debtors 2022 2021
£ £
Trade debtors 18,866 18,866
Other debtors 601 1,049
19,467 19,915
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 46,820 26,401
Corporation tax 2,833 3,475
Dividend liabilty 15,000 20,000
64,653 49,876
6 Creditors: amounts falling due after one year 2022 2021
£ £
Other creditors 2,412 3,500
7 Other information
KOLEKSIYON UNITED LTD is a private company limited by shares and incorporated in England. Its registered office is:
The 1840, St George’S Gardens
17 Vernon House
1 Holt Gardens
London
SW17 7FX
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