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K & G TECH LTD

Registered Number
12086089
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

K & G TECH LTD
Company Information
for the year from 1 August 2022 to 31 July 2023

Directors

DIMITROV, Dimitar Manolov
DIMITROVA, Mariya Georgieva

Registered Address

45 Seacole Gardens
Southampton
SO16 6PN

Registered Number

12086089 (England and Wales)
K & G TECH LTD
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets51,9853,496
1,9853,496
Current assets
Debtors1012,149
Cash at bank and on hand10156
1112,305
Creditors amounts falling due within one year8(54,307)(40,888)
Net current assets (liabilities)(54,196)(38,583)
Total assets less current liabilities(52,211)(35,087)
Net assets(52,211)(35,087)
Capital and reserves
Called up share capital1010
Profit and loss account(52,221)(35,097)
Shareholders' funds(52,211)(35,087)
The financial statements were approved and authorised for issue by the Board of Directors on 18 September 2023, and are signed on its behalf by:
DIMITROV, Dimitar Manolov
Director
DIMITROVA, Mariya Georgieva
Director

Registered Company No. 12086089
K & G TECH LTD
Notes to the Financial Statements
for the year ended 31 July 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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 rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings7
Office Equipment4
Revenue recognition policy
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.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currency translation and operations policy
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.
Going concern
Assurances have been obtained from the directors that the company will continue to operate in the foreseeable future and will be able to meets its liabilities as and when they fall due.
4.Employee information

20232022
Average number of employees during the year00
5.Property, plant and equipment

Total

£
Cost or valuation
At 01 August 226,299
At 31 July 236,299
Depreciation and impairment
At 01 August 222,802
Charge for year1,512
At 31 July 234,313
Net book value
At 31 July 231,985
At 31 July 223,496
6.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
DIMITROVA, Mariya Georgieva(25,748)9,13915,677(32,286)
DIMITROV, Dimitar Manolov(14,201)8807,805(21,126)
(39,949)10,01923,482(53,412)
Loans between the directors and the company are interest free and repayable on demand
7.Debtors within one year

2023

2022

££
Other debtors1012,149
Total1012,149
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.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables-119
Amounts owed to related parties53,41139,949
Accrued liabilities and deferred income896820
Total54,30740,888
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.