Company Registration No. 06647386 (England and Wales)
KoanWay Ltd
Unaudited accounts
for the year ended 31 March 2023
KoanWay Ltd
Unaudited accounts
Contents
KoanWay Ltd
Company Information
for the year ended 31 March 2023
Company Number
06647386 (England and Wales)
Registered Office
C/O Solid Ltd
Eagle House
163 City Road
EC1V 1NR
United Kingdom
Accountants
Solid Ltd
Eagle House
163 City Road
London
EC1V 1NR
KoanWay Ltd
Statement of financial position
as at 31 March 2023
Tangible assets
3,700
5,386
Cash at bank and in hand
303
17,336
Creditors: amounts falling due within one year
24,244
6,256
Net current assets
36,728
31,333
Total assets less current liabilities
40,428
36,719
Creditors: amounts falling due after more than one year
(45,960)
(35,866)
Provisions for liabilities
Net (liabilities)/assets
(5,999)
66
Called up share capital
1
1
Profit and loss account
(6,000)
65
Shareholders' funds
(5,999)
66
For the year ending 31 March 2023 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 her 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 24 October 2023 and were signed on its behalf by
Ildiko Haraszi
Director
Company Registration No. 06647386
KoanWay Ltd
Notes to the Accounts
for the year ended 31 March 2023
KoanWay Ltd is a private company, limited by shares, registered in England and Wales, registration number 06647386. The registered office is C/O Solid Ltd, Eagle House, 163 City Road, EC1V 1NR, 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.
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.
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.
Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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:
Fixtures & fittings
Straight line over 5 years
Computer equipment
Straight line over 5 years
KoanWay Ltd
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2022
8,703
4,288
12,991
At 31 March 2023
8,703
4,288
12,991
At 1 April 2022
5,598
2,007
7,605
Charge for the year
1,022
664
1,686
At 31 March 2023
6,620
2,671
9,291
At 31 March 2023
2,083
1,617
3,700
At 31 March 2022
3,105
2,281
5,386
Amounts falling due within one year
Amounts falling due after more than one year
Other debtors
12,181
7,616
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
-
9,621
Taxes and social security
11,158
7,189
Loans from directors
(36,961)
(23,433)
7
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
KoanWay Ltd
Notes to the Accounts
for the year ended 31 March 2023
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Interest free loan
23,433
13,528
-
36,961
The above loan is unsecured and repayable on demand. The movement on the loan is reported above. Interest has been charged at approved rate for the year.
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).