Registration number:
Kuai Commerce Limited
trading as
for the Period from 3 March 2022 to 31 March 2023
Kuai Commerce Limited
trading as YASO
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Kuai Commerce Limited
trading as YASO
Company Information
Directors |
James Campbell Jonathan Plein Adam Knight Christopher Smith |
Registered office |
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Accountants |
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Kuai Commerce Limited
trading as YASO
(Registration number: 13952850)
Balance Sheet as at 31 March 2023
Note |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
8,133 |
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Share premium reserve |
1,970,863 |
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Retained earnings |
(107,431) |
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Shareholders' funds |
1,871,565 |
Kuai Commerce Limited
trading as YASO
(Registration number: 13952850)
Balance Sheet as at 31 March 2023
For the financial period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Kuai Commerce Limited
trading as YASO
Notes to the Unaudited Financial Statements for the Period from 3 March 2022 to 31 March 2023
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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.
The financial statements are prepared in Pounds Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
Going concern
The financial statements have been prepared on a going concern basis.
The company has raised investment through funding rounds during the year, the proceeds from which are being used to establish the company and build the infrastructure from which the company will operate.
The directors have considered the funds available, as well as potential future income and on this basis, consider the company is a going concern.
Kuai Commerce Limited
trading as YASO
Notes to the Unaudited Financial Statements for the Period from 3 March 2022 to 31 March 2023
Judgements
There are no significant judgements within these financial statements. |
Key sources of estimation uncertainty
There are no instances of estimation uncertainty within these financial statements.
Foreign currency transactions and balances
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
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 |
Computer equipment |
3 years straight line |
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.
Kuai Commerce Limited
trading as YASO
Notes to the Unaudited Financial Statements for the Period from 3 March 2022 to 31 March 2023
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.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Kuai Commerce Limited
trading as YASO
Notes to the Unaudited Financial Statements for the Period from 3 March 2022 to 31 March 2023
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 3 March 2022 |
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At 31 March 2023 |
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Depreciation |
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Charge for the period |
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At 31 March 2023 |
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Carrying amount |
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At 31 March 2023 |
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Debtors |
Current |
2023 |
Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2023 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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During the period under review, Silicon Valley Bank UK Limited held a fixed charge and negative pledge over the Silicon Valley bank accounts. The charge was satisfied post year end.
Kuai Commerce Limited
trading as YASO
Notes to the Unaudited Financial Statements for the Period from 3 March 2022 to 31 March 2023
Related party transactions |
The company has taken advantage of the exemption available under FRS 102 section 1AC.35 not to disclose related party transactions conducted under normal market conditions.