IRIS Accounts Production v23.2.0.158 08454723 Board of Directors 1.4.22 31.3.23 31.3.23 0 0 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh084547232022-03-31084547232023-03-31084547232022-04-012023-03-31084547232021-03-31084547232021-04-012022-03-31084547232022-03-3108454723ns10:Originalns15:EnglandWales2022-04-012023-03-3108454723ns14:PoundSterlingns10:Original2022-04-012023-03-3108454723ns10:Originalns10:Director12022-04-012023-03-3108454723ns10:Original2022-04-012023-03-3108454723ns10:Original2023-03-3108454723ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3108454723ns10:Originalns10:SmallEntities2022-04-012023-03-3108454723ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3108454723ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3108454723ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3108454723ns10:Originalns10:FullAccounts2022-04-012023-03-3108454723ns10:Original2021-04-012022-03-3108454723ns10:Originalns10:OrdinaryShareClass12022-04-012023-03-3108454723ns10:Originalns10:Director22022-04-012023-03-3108454723ns10:Originalns10:Director32022-04-012023-03-3108454723ns10:Originalns10:RegisteredOffice2022-04-012023-03-3108454723ns10:Original2022-03-3108454723ns10:Originalns5:CurrentFinancialInstruments2023-03-3108454723ns10:Originalns5:CurrentFinancialInstruments2022-03-3108454723ns10:Originalns5:Non-currentFinancialInstruments2023-03-3108454723ns10:Originalns5:Non-currentFinancialInstruments2022-03-3108454723ns5:ShareCapitalns10:Original2023-03-3108454723ns5:ShareCapitalns10:Original2022-03-3108454723ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3108454723ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3108454723ns10:Originalns5:ComputerEquipment2022-04-012023-03-3108454723ns10:Originalns5:ComputerEquipment2022-03-3108454723ns10:Originalns5:ComputerEquipment2023-03-3108454723ns10:Originalns5:ComputerEquipment2022-03-3108454723ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3108454723ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3108454723ns10:Originalns10:OrdinaryShareClass12023-03-3108454723ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3108454723ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-04-012023-03-31
REGISTERED NUMBER: 08454723 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

KN COMMODITIES LIMITED

KN COMMODITIES LIMITED (REGISTERED NUMBER: 08454723)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KN COMMODITIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Kamar Ul Islam Khan
Harry David Newby
Md Sazzad Hossain





REGISTERED OFFICE: 104 Lave Way Sudbrook
Caldicot
Monmothshire
NP26 5WA





REGISTERED NUMBER: 08454723 (England and Wales)





ACCOUNTANTS: Stan Lee Accountancy Ltd (T/A: The Stan Lee)
Chartered Certified Accountants
40 Bank Street, 18th Floor
Canary Wharf
London
E14 5NR

KN COMMODITIES LIMITED (REGISTERED NUMBER: 08454723)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 619 774

CURRENT ASSETS
Debtors 5 178,540 52
Cash at bank 38,450 261,318
216,990 261,370
CREDITORS
Amounts falling due within one year 6 183,887 214,387
NET CURRENT ASSETS 33,103 46,983
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,722

47,757

CREDITORS
Amounts falling due after more than
one year

7

32,407

41,667
NET ASSETS 1,315 6,090

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 1,215 5,990
SHAREHOLDERS' FUNDS 1,315 6,090

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

KN COMMODITIES LIMITED (REGISTERED NUMBER: 08454723)

BALANCE SHEET - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2023 and were signed on its behalf by:





Harry David Newby - Director


KN COMMODITIES LIMITED (REGISTERED NUMBER: 08454723)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

KN Commodities Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable services rendered, stated net of discounts and of Value Added Tax. When the consideration receivable in cash or cash equivalents is deferred, and the arrangement constitutes in effect a financing transaction, the fair value of the consideration is measured as the present value of all future receipts determined using an imputed rate of interest, normally the rate that discounts the nominal amount of consideration to the cash sales price.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company’s activities described below.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

KN COMMODITIES LIMITED (REGISTERED NUMBER: 08454723)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Going concern
No material uncertainties related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern have been indentified by the directors.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2022
and 31 March 2023 956
DEPRECIATION
At 1 April 2022 182
Charge for year 155
At 31 March 2023 337
NET BOOK VALUE
At 31 March 2023 619
At 31 March 2022 774

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 177,455 -
Other debtors 1,033 -
VAT 52 52
178,540 52

KN COMMODITIES LIMITED (REGISTERED NUMBER: 08454723)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 8,333 8,333
Tax 592 592
Directors' current accounts 174,962 205,462
183,887 214,387

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 8) 32,407 41,667

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans - BBL 8,333 8,333

Amounts falling due between two and five years:
Bounce Back Loan 32,407 41,667

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 April 2022 5,990
Deficit for the year (4,775 )
At 31 March 2023 1,215

KN COMMODITIES LIMITED (REGISTERED NUMBER: 08454723)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the current and previous years, the Company was under the control of Mr. H D Newby and Monow International Limited, by the virtue of the whole ownership of the entire issued share capital of the Company.

At the balance sheet date, the company owed its directors £174,962 (2022 : £205,462). The loan carries no interest and is repayable in full at short notice on demand.