Acorah Software Products - Accounts Production 12.4.009 false true 1 January 2021 31 December 2021 31 December 2021 07444335 Mr Kamraj Sangha iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07444335 2020-12-31 07444335 2021-12-31 07444335 2021-01-01 2021-12-31 07444335 frs-core:CurrentFinancialInstruments 2021-12-31 07444335 frs-core:CurrentFinancialInstruments 2021-01-01 2021-12-31 07444335 frs-core:Non-currentFinancialInstruments 2021-12-31 07444335 frs-core:Non-currentFinancialInstruments 2021-01-01 2021-12-31 07444335 frs-core:CurrentFinancialInstruments 2021-01-01 2021-12-31 07444335 frs-core:CurrentFinancialInstruments 2021-12-31 07444335 frs-core:AfterOneYear 2021-01-01 2021-12-31 07444335 frs-core:BetweenOneFiveYears 2021-01-01 2021-12-31 07444335 frs-core:BetweenOneFiveYears 2021-12-31 07444335 frs-core:ComputerEquipment 2021-12-31 07444335 frs-core:ComputerEquipment 2021-01-01 2021-12-31 07444335 frs-core:ComputerEquipment 2020-12-31 07444335 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07444335 dpl-frs:CostSales dpl-frs:Item12 2019-12-31 07444335 dpl-frs:CostSales dpl-frs:Item12 2020-12-31 07444335 dpl-frs:DistributionCosts dpl-frs:Item12 2020-01-01 2020-12-31 07444335 dpl-frs:AdministrativeExpenses dpl-frs:Item12 2020-01-01 2020-12-31 07444335 1 2020-01-01 2020-12-31 07444335 frs-countries:EnglandWales 2020-01-01 2020-12-31
Registered number: 07444335
Kms Trading Limited
Financial Statements
For The Year Ended 31 December 2021
Kensington Mills & Clark Darby

Chartered Certified Accountants

520-522 Moseley Road
Birmingham
West Midlands
B12 9AE
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—8
Page 1
Balance Sheet
Registered number: 07444335
2021 2020
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 32,400 43,200
Tangible Assets 5 29,662 33,761
Investments 6 100 100
62,162 77,061
CURRENT ASSETS
Stocks 7 168,179 161,083
Debtors 8 32,609 (4,135 )
Cash at bank and in hand 12,734 13,750
213,522 170,698
Creditors: Amounts Falling Due Within One Year 9 (129,097 ) (69,216 )
NET CURRENT ASSETS (LIABILITIES) 84,425 101,482
TOTAL ASSETS LESS CURRENT LIABILITIES 146,587 178,543
Creditors: Amounts Falling Due After More Than One Year 10 (45,793 ) (50,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (5,190 ) (5,872 )
NET ASSETS 95,604 122,671
CAPITAL AND RESERVES
Called up share capital 13 1 1
Profit and Loss Account 95,603 122,670
SHAREHOLDERS' FUNDS 95,604 122,671
Page 1
Page 2
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.
The member has 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.
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.
On behalf of the board
Mr Kamraj Sangha
Director
22nd June 2022
The notes on pages 3 to 8 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
1.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

1.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit & loss over its estimated economic life of 12.5 years.
1.5. 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 10% Reducing Balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 10% Reducing Balance
Computer Equipment 25% Stright Line
1.6. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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1.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

1.9. Pensions
The company operates through defined pension contribution scheme. Contributions are charged to the profit and loss accounts as they become payable in accordance with the rules of the scheme.
1.10. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 8 (2020: 9)
8 9
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4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2021 135,000
As at 31 December 2021 135,000
Amortisation
As at 1 January 2021 91,800
Provided during the period 10,800
As at 31 December 2021 102,600
Net Book Value
As at 31 December 2021 32,400
As at 1 January 2021 43,200
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2021 51,715 16,900 3,339 758 72,712
As at 31 December 2021 51,715 16,900 3,339 758 72,712
Depreciation
As at 1 January 2021 23,373 13,892 1,230 456 38,951
Provided during the period 2,834 752 211 302 4,099
As at 31 December 2021 26,207 14,644 1,441 758 43,050
Net Book Value
As at 31 December 2021 25,508 2,256 1,898 - 29,662
As at 1 January 2021 28,342 3,008 2,109 302 33,761
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6. Investments
Listed
£
Cost
As at 1 January 2021 100
As at 31 December 2021 100
Provision
As at 1 January 2021 -
As at 31 December 2021 -
Net Book Value
As at 31 December 2021 100
As at 1 January 2021 100
The company has invested of £100 in Nisa shares and share premium received for the year was of £37,949.
7. Stocks
2021 2020
£ £
Stock - work in progress 168,179 161,083
168,179 161,083
8. Debtors
2021 2020
£ £
Due within one year
Trade debtors - 199
Prepayments and accrued income 14,503 (9,334 )
Other debtors 15,000 5,000
VAT 3,106 -
32,609 (4,135 )
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9. Creditors: Amounts Falling Due Within One Year
2021 2020
£ £
Trade creditors 56,666 7,232
Bank loans and overdrafts 60,556 14,323
Corporation tax 8,406 12,800
Other taxes and social security 135 568
VAT - 1,050
Accruals and deferred income 3,300 3,300
Director's loan account 34 29,943
129,097 69,216
10. Creditors: Amounts Falling Due After More Than One Year
2021 2020
£ £
Bank loans 45,793 50,000
45,793 50,000
Of the creditors falling due within and after more than one year the following amounts are due after more than five years.
2021 2020
£ £
Bank loans and overdrafts 45,793 50,000
11. Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances
2021 2020
£ £
Deferred tax 5,190 5,872
5,190 5,872
12. Provisions for Liabilities
Deferred Tax
£
As at 1 January 2021 5,872
Reversals (682 )
Balance at 31 December 2021 5,190
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13. Share Capital
2021 2020
Allotted, Called up and fully paid 1 1
14. Directors Advances, Credits and Guarantees
Dividends paid to directors of £60,000
15. Related Party Transactions
Director loan balance in credit was of £34 (2020: £29,943). The director own the property and received the rent of £24,000 per annum from the company.
16. General Information
Kms Trading Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07444335 . The registered office is 78 Church Street, Bilston, West Midlands, WV14 0AX.
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