Registered number
07154836
KCS Cash & Carry Ltd
Filleted Accounts
31 March 2023
KCS Cash & Carry Ltd
Registered number: 07154836
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 111,516 82,302
Current assets
Stocks 1,524,639 755,043
Debtors 5 512,149 359,172
Cash at bank and in hand 561,488 67,325
2,598,276 1,181,540
Creditors: amounts falling due within one year 6 (1,919,562) (954,172)
Net current assets 678,714 227,368
Total assets less current liabilities 790,230 309,670
Creditors: amounts falling due after more than one year 7 (22,572) (33,040)
Provisions for liabilities (20,280) (15,637)
Net assets 747,378 260,993
Capital and reserves
Called up share capital 8 250,210 250,200
Profit and loss account 497,168 10,793
Shareholders' funds 747,378 260,993
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Kiran Singh
Director
Approved by the board on 7 November 2023
KCS Cash & Carry Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
Leasehold property straight line over lease period
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Taxation 2023 2022
£ £
Corporation tax charge 115,231 4,539
Deferred tax charge 4,643 15,637
119,874 20,176
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 21 10
4 Tangible fixed assets
Leasehold property Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 9,252 94,155 103,407
Additions - 49,901 49,901
At 31 March 2023 9,252 144,056 153,308
Depreciation
At 1 April 2022 2,621 18,484 21,105
Charge for the year 1,851 18,836 20,687
At 31 March 2023 4,472 37,320 41,792
Net book value
At 31 March 2023 4,780 106,736 111,516
At 31 March 2022 6,631 75,671 82,302
5 Debtors 2023 2022
£ £
Trade debtors 330,793 173,576
Rent deposit 100,662 100,662
Other debtors 80,694 84,934
512,149 359,172
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,648 10,648
Trade creditors 1,343,626 554,873
Taxation and social security costs 129,235 8,346
Directors' accounts 82,726 107,726
Other creditors 353,327 272,579
1,919,562 954,172
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 22,572 33,040
8 Share capital 2023 2022
£ £
Share capital - B/fwd 250,200 250,000
Share capital - Shares issued 10 200
250,210 250,200
9 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 335,540 540,540
10 Related party transactions
Included in other creditors are the following amounts due to related parties by virtue of common directorship and/or in which the director`s hold a material interest:

- Asian Traders Limited: £75,000 (2022: £100,000)
- Mibasaki Limited: £65,000 (2022: £65,000)
- Homeflow Global Limited: £30,000 (2022: £30,000)
- Sky Silk Textiles Ltd: £1,896 (2022: £914l)

There are no terms as to interest or repayment in respect of these amounts.
11 Other information
KCS Cash & Carry Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 3, Silverdale Industrial Estate
Silverdale Road
Hayes
Middlesex
UB3 3BL
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