Company Registration No. 09759296 (England and Wales)
Kitakami Limited
Unaudited accounts
for the year ended 30 September 2022
Kitakami Limited
Unaudited accounts
Contents
Kitakami Limited
Company Information
for the year ended 30 September 2022
Directors
Dingsheng XUE
Arner Jeffrey HUSSAIN
Company Number
09759296 (England and Wales)
Registered Office
Unit 103-R, Universal House,
88-94 Wentworth Street
LONDON
E1 7SA
ENGLAND
Kitakami Limited
Statement of financial position
as at 30 September 2022
Intangible assets
139,776
28,408
Tangible assets
2,530
3,163
Cash at bank and in hand
43,876
130,714
Creditors: amounts falling due within one year
125,000
175,974
Net current assets
178,491
306,688
Net assets
320,797
338,259
Called up share capital
360,000
360,000
Profit and loss account
(39,203)
(21,741)
Shareholders' funds
320,797
338,259
For the year ending 30 September 2022 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 directors acknowledge their 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 of Directors and authorised for issue on 30 September 2023 and were signed on its behalf by
Arner Jeffrey HUSSAIN
Director
Company Registration No. 09759296
Kitakami Limited
Notes to the Accounts
for the year ended 30 September 2022
Kitakami Limited is a private company, limited by shares, registered in England and Wales, registration number 09759296. The registered office is Unit 103-R, Universal House, , 88-94 Wentworth Street, LONDON, E1 7SA, ENGLAND.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Plant & machinery
33.33% Straight Line Method
Fixtures & fittings
20% Reducing Balance Method
Intangible fixed assets (including Licenses, IBAN Setup, Software, R&D Development and patents) are included at cost less accumulated amortisation.
10% Straight line method
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 Merchant Services to retail firms which is recognised when services have been delivered to clients such that promised services have been delivered to them.
The main revenue generated by the company relates to the provision of payment services under Payment Services and Payment system act ( Payment Regulations 2017 and Electronic Money Regulations 2011).
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.
Management is responsible for the preparation and fair presentation of the information in these financial statements.
The Directors have at the time of approving the financial Statements, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, They continue to adopt the Going Concern basis of Accounting in preparing the financial statements.
Kitakami Limited
Notes to the Accounts
for the year ended 30 September 2022
4
Intangible fixed assets
Other
At 30 September 2022
168,833
Charge for the year
16,883
At 30 September 2022
29,057
At 30 September 2022
139,776
At 30 September 2021
28,408
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Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 October 2021
550
5,883
6,433
At 30 September 2022
550
5,883
6,433
At 1 October 2021
550
2,720
3,270
Charge for the year
-
633
633
At 30 September 2022
550
3,353
3,903
At 30 September 2022
-
2,530
2,530
At 30 September 2021
-
3,163
3,163
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Creditors: amounts falling due within one year
2022
2021
Trade creditors
(135,543)
(202,497)
Other creditors
(172)
17,455
Loans from directors
40,009
40,489
Allotted, called up and fully paid:
1,800 Ordinary shares of £200 each
360,000
360,000
Kitakami Limited
Notes to the Accounts
for the year ended 30 September 2022
In the relevant Accounting Period, Since 01/10/2019 EasyEuro Technology Limited held 9% Shares and 91% Shares held by Eng Hock OOI. Since 13/12/2019 EasyEuro Technology Limited held 87% Shares and 13% Shares held by Eng Hock OOI. On Jan 2021 as recorded on companies house, since this date EasyEuro HK holds 100% shares.
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Average number of employees
During the year the average number of employees was 1 (2021: 4).