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REGISTERED NUMBER: 08565616 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Kupanda Kuvuna Limited

Kupanda Kuvuna Limited (Registered number: 08565616)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Kupanda Kuvuna Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: Mr J A McDonald





REGISTERED OFFICE: 17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN





REGISTERED NUMBER: 08565616 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

Kupanda Kuvuna Limited (Registered number: 08565616)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,548 1,182
Investments 6 1 1
1,549 1,183

CURRENT ASSETS
Debtors 7 10,298 11,417
Cash at bank 8,174 7,390
18,472 18,807
CREDITORS
Amounts falling due within one year 8 17,637 18,408
NET CURRENT ASSETS 835 399
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,384

1,582

CAPITAL AND RESERVES
Called up share capital 1,100 1,100
Profit and loss account 1,284 482
SHAREHOLDERS' FUNDS 2,384 1,582

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 January 2024 and were signed by:





Mr J A McDonald - Director


Kupanda Kuvuna Limited (Registered number: 08565616)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Kupanda Kuvuna Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for commissions earned, stated net of discounts and of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.

Commissions earned:
The company earns commission on investments they manage. The company recognises revenue on the commissions earned in the reporting period at the point of when the commissions become receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment
losses.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Investments in associates
Investments in associated undertakings are recognised at cost less impairment.


Kupanda Kuvuna Limited (Registered number: 08565616)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

3. ACCOUNTING POLICIES - continued
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.

Current taxation is the amount of taxation in respect of the taxable profit for the year or prior years.

A deferred taxation asset or liability is recognised for tax recoverable or payable in future periods in respect of transactions and events recognised in the financial statements of the current and previous period.

Deferred taxation arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. Timing differences result from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

Deferred taxation is recognised on all timing differences at the reporting date apart from certain exceptions. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that the directors consider that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred taxation 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 differences.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Employee benefits
Short term employee benefits are recognised as an expense in the period in which they are incurred.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 4,609
Additions 1,248
At 30 June 2023 5,857
DEPRECIATION
At 1 July 2022 3,427
Charge for year 882
At 30 June 2023 4,309
NET BOOK VALUE
At 30 June 2023 1,548
At 30 June 2022 1,182

Kupanda Kuvuna Limited (Registered number: 08565616)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
and
participating
interests
£   
COST
At 1 July 2022
and 30 June 2023 1
NET BOOK VALUE
At 30 June 2023 1
At 30 June 2022 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 165 165
Other debtors 10,133 11,252
10,298 11,417

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 938 414
Taxation and social security 16,699 17,994
17,637 18,408

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
Mr J A McDonald
Balance outstanding at start of year 11,252 527
Amounts advanced 91,289 95,499
Amounts repaid (92,408 ) (84,774 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,133 11,252

This loan attracts interest at 2.5% pa and is repayable on demand.