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Registration number: 07124732

K K Dewan Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

K K Dewan Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

K K Dewan Limited

Company Information

Director

Dr K K Dewan

Registered office

13 Bankfold
Barrowford
Nelson
Lancs
BB9 6JW

Accountants

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
K K Dewan Limited
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of K K Dewan Limited for the year ended 31 March 2023 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of K K Dewan Limited, as a body. Our work has been undertaken solely to prepare for your approval the accounts of K K Dewan Limited and state those matters that we have agreed to state to the Board of Directors of K K Dewan Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than K K Dewan Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that K K Dewan Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of K K Dewan Limited. You consider that K K Dewan Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of K K Dewan Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

17 October 2023

 

K K Dewan Limited

(Registration number: 07124732)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

356

126

Current assets

 

Debtors

6

81,717

72,445

Cash at bank and in hand

 

196,894

196,571

 

278,611

269,016

Creditors: Amounts falling due within one year

7

(9,191)

(6,748)

Net current assets

 

269,420

262,268

Total assets less current liabilities

 

269,776

262,394

Provisions for liabilities

1,388

(24)

Net assets

 

271,164

262,370

Capital and reserves

 

Called up share capital

100

100

Retained earnings

271,064

262,270

Shareholders' funds

 

271,164

262,370

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 17 October 2023
 

.........................................
Dr K K Dewan
Director

 

K K Dewan Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
13 Bankfold
Barrowford
Nelson
Lancs
BB9 6JW

These financial statements were authorised for issue by the director on 17 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Office equipment

25% reducing balance

 

K K Dewan Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 4 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

K K Dewan Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2022 - 1).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

10,000

10,000

At 31 March 2023

10,000

10,000

Amortisation

At 1 April 2022

10,000

10,000

At 31 March 2023

10,000

10,000

Carrying amount

At 31 March 2023

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

780

780

Additions

432

432

Disposals

(350)

(350)

At 31 March 2023

862

862

Depreciation

At 1 April 2022

654

654

Charge for the year

119

119

Eliminated on disposal

(267)

(267)

At 31 March 2023

506

506

Carrying amount

At 31 March 2023

356

356

At 31 March 2022

126

126

 

K K Dewan Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Debtors

2023
£

2022
£

Prepayments

1,195

1,095

Other debtors

80,522

71,350

81,717

72,445

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

6,906

5,241

Accruals and deferred income

2,285

1,507

9,191

6,748

8

Related party transactions

Transactions with the director

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Dr K K Dewan

Unsecured loan, repayable on demand with interest charged at the official rate

54,769

25,634

(15,634)

64,769

         
       

 

2022

At 1 April 2021
£

Advances to director
£

Repayments by director
£

At 31 March 2022
£

Dr K K Dewan

Unsecured loan, repayable on demand with interest charged at the official rate

54,769

16,821

(16,821)

54,769