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Company Registration No. 06647386 (England and Wales)
KoanWay Ltd Unaudited accounts for the year ended 31 March 2023
KoanWay Ltd Unaudited accounts Contents
Page
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KoanWay Ltd Company Information for the year ended 31 March 2023
Director
Ildiko Haraszi
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
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KoanWay Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
3,700 
5,386 
Current assets
Debtors
12,181 
7,741 
Cash at bank and in hand
303 
17,336 
12,484 
25,077 
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
Deferred tax
(467)
(787)
Net (liabilities)/assets
(5,999)
66 
Capital and reserves
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
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KoanWay Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
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.
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.
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
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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 
Depreciation
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 
Net book value
At 31 March 2023
2,083 
1,617 
3,700 
At 31 March 2022
3,105 
2,281 
5,386 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
125 
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 
VAT
809 
- 
Trade creditors
- 
367 
Taxes and social security
11,158 
7,189 
Loans from directors
(36,961)
(23,433)
Accruals
750 
- 
(24,244)
(6,256)
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
45,960 
35,866 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
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KoanWay Ltd Notes to the Accounts for the year ended 31 March 2023
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Ildiko Haraszi
Interest free loan
23,433 
13,528 
- 
36,961 
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).
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