Registered number
01829447
Kam Leisure Wear Ltd
Filleted Accounts
30 September 2022
Kam Leisure Wear Ltd
Registered number: 01829447
Balance Sheet
as at 30 September 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 1,306,134 1,306,134
Investments 4 304,070 304,520
1,610,204 1,610,654
Current assets
Debtors 5 2,622 1,119
Cash at bank and in hand 543 1,179
3,165 2,298
Creditors: amounts falling due within one year 6 (702,266) (673,772)
Net current liabilities (699,101) (671,474)
Total assets less current liabilities 911,103 939,180
Creditors: amounts falling due after more than one year 7 (90,675) (132,430)
Net assets 820,428 806,750
Capital and reserves
Called up share capital 10,000 10,000
Profit and loss account 810,428 796,750
Shareholders' funds 820,428 806,750
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.
Sobat Ali
Director
Approved by the board on 8 October 2023
Kam Leisure Wear Ltd
Notes to the Accounts
for the year ended 30 September 2022
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).
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.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 October 2021 1,298,273 81,377 1,379,650
At 30 September 2022 1,298,273 81,377 1,379,650
Depreciation
At 1 October 2021 - 73,516 73,516
At 30 September 2022 - 73,516 73,516
Net book value
At 30 September 2022 1,298,273 7,861 1,306,134
At 30 September 2021 1,298,273 7,861 1,306,134
4 Investments
Other
investments
£
Cost
At 1 October 2021 304,520
Disposals (450)
At 30 September 2022 304,070
5 Debtors 2022 2021
£ £
Other debtors 2,622 1,119
6 Creditors: amounts falling due within one year 2022 2021
£ £
Director Loan account 326,454 327,570
Taxation and social security costs 9,605 6,396
Other creditors 366,207 339,806
702,266 673,772
7 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 90,675 132,430
8 Other information
Kam Leisure Wear Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1Firs Hill Avenue
Sheffield
S4 7AA
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