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Company Registration No. 11049643 (England and Wales)
Kanurov & Co Ltd Unaudited accounts for the year ended 30 November 2021
Kanurov & Co Ltd Unaudited accounts Contents
Page
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Kanurov & Co Ltd Company Information for the year ended 30 November 2021
Director
Mr Mitko Kanurov
Company Number
11049643 (England and Wales)
Registered Office
56 NORTH BANK CLOSE ROCHESTER ME2 2NL UNITED KINGDOM
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Kanurov & Co Ltd Statement of financial position as at 30 November 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Tangible assets
11,330 
15,107 
Current assets
Debtors
9,732 
8,152 
Cash at bank and in hand
15,872 
13,949 
25,604 
22,101 
Creditors: amounts falling due within one year
(21,403)
(17,033)
Net current assets
4,201 
5,068 
Total assets less current liabilities
15,531 
20,175 
Creditors: amounts falling due after more than one year
(15,400)
(20,005)
Net assets
131 
170 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
31 
70 
Shareholders' funds
131 
170 
For the year ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 July 2022 and were signed on its behalf by
Mr Mitko Kanurov Director Company Registration No. 11049643
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Kanurov & Co Ltd Notes to the Accounts for the year ended 30 November 2021
1
Statutory information
Kanurov & Co Ltd is a private company, limited by shares, registered in England and Wales, registration number 11049643. The registered office is 56 NORTH BANK CLOSE, ROCHESTER, ME2 2NL, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
Computer equipment
25% reducing balance
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Kanurov & Co Ltd Notes to the Accounts for the year ended 30 November 2021
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 December 2020
25,892 
938 
26,830 
At 30 November 2021
25,892 
938 
26,830 
Depreciation
At 1 December 2020
11,328 
395 
11,723 
Charge for the year
3,641 
136 
3,777 
At 30 November 2021
14,969 
531 
15,500 
Net book value
At 30 November 2021
10,923 
407 
11,330 
At 30 November 2020
14,564 
543 
15,107 
5
Debtors: amounts falling due within one year
2021 
2020 
£ 
£ 
Trade debtors
- 
140 
Debtors: amounts falling due after more than one year
Other debtors
9,732 
8,012 
6
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
Bank loans and overdrafts
4,200 
995 
VAT
7,814 
6,875 
Taxes and social security
3,265 
2,582 
Other creditors
5,324 
5,881 
Accruals
800 
700 
21,403 
17,033 
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Kanurov & Co Ltd Notes to the Accounts for the year ended 30 November 2021
7
Creditors: amounts falling due after more than one year
2021 
2020 
£ 
£ 
Bank loans
15,400 
20,005 
8
Share capital
2021 
2020 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Mr Mitko Kanurov
8,012 
9,732 
8,012 
9,732 
8,012 
9,732 
8,012 
9,732 
10
Transactions with related parties
Dividends totaling £ 11,400 ( £3,300 - 2020) were paid in the year in respect of shares held by the company's director.
11
Average number of employees
During the year the average number of employees was 1 (2020: 1).
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