Kuai Commerce Limited 13952850 false 2022-03-03 2023-03-31 2023-03-31 The principal activity of the company is social commerce solutions for brand acceleration in China Digita Accounts Production Advanced 6.30.9574.0 true true 13952850 2022-03-03 2023-03-31 13952850 2023-03-31 13952850 core:CurrentFinancialInstruments 2023-03-31 13952850 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13952850 core:FurnitureFittingsToolsEquipment 2023-03-31 13952850 bus:SmallEntities 2022-03-03 2023-03-31 13952850 bus:AuditExemptWithAccountantsReport 2022-03-03 2023-03-31 13952850 bus:FullAccounts 2022-03-03 2023-03-31 13952850 bus:SmallCompaniesRegimeForAccounts 2022-03-03 2023-03-31 13952850 bus:RegisteredOffice 2022-03-03 2023-03-31 13952850 bus:Director1 2022-03-03 2023-03-31 13952850 bus:Director2 2022-03-03 2023-03-31 13952850 bus:Director3 2022-03-03 2023-03-31 13952850 bus:Director4 2022-03-03 2023-03-31 13952850 bus:PrivateLimitedCompanyLtd 2022-03-03 2023-03-31 13952850 core:ComputerEquipment 2022-03-03 2023-03-31 13952850 core:FurnitureFittingsToolsEquipment 2022-03-03 2023-03-31 13952850 countries:AllCountries 2022-03-03 2023-03-31 13952850 2022-03-02 13952850 core:FurnitureFittingsToolsEquipment 2022-03-02 iso4217:GBP xbrli:pure

Registration number: 13952850

Kuai Commerce Limited

trading as YASO

Annual Report and Unaudited Financial Statements

for the Period from 3 March 2022 to 31 March 2023




























 

image-name
 

Kuai Commerce Limited

trading as YASO

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Kuai Commerce Limited

trading as YASO

Company Information

Directors

James Campbell

Jonathan Plein

Adam Knight

Christopher Smith

Registered office

151 Wardour Street
London
W1F 8WE

Accountants

JWB Corporate Ltd
22 Mulberry Avenue
Portishead
North Somerset
BS20 7LG

 

Kuai Commerce Limited

trading as YASO

(Registration number: 13952850)
Balance Sheet as at 31 March 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

4,350

Current assets

 

Debtors

5

31,827

Cash at bank and in hand

 

1,829,235

 

1,861,062

Creditors: Amounts falling due within one year

6

(22,852)

Net current assets

 

1,838,210

Total assets less current liabilities

 

1,842,560

Provisions for liabilities

29,005

Net assets

 

1,871,565

Capital and reserves

 

Called up share capital

8,133

Share premium reserve

1,970,863

Retained earnings

(107,431)

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:

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

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 Board on 24 November 2023 and signed on its behalf by:
 

.........................................
Jonathan Plein
Director

 

Kuai Commerce Limited

trading as YASO

Notes to the Unaudited Financial Statements for the Period from 3 March 2022 to 31 March 2023

1

General information

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

The address of its registered office is:
151 Wardour Street
London
W1F 8WE
England

These financial statements were authorised for issue by the Board on 24 November 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.

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

Monetary assets and liabilities denominated in foreign currencies are translated into Pounds Sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to the profit and loss account.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3.

 

Kuai Commerce Limited

trading as YASO

Notes to the Unaudited Financial Statements for the Period from 3 March 2022 to 31 March 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 3 March 2022

4,905

4,905

At 31 March 2023

4,905

4,905

Depreciation

Charge for the period

555

555

At 31 March 2023

555

555

Carrying amount

At 31 March 2023

4,350

4,350

5

Debtors

Current

2023
£

Prepayments

26,581

Other debtors

5,246

 

31,827

6

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Trade creditors

15,037

Taxation and social security

6,614

Other creditors

1,201

22,852

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

7

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.