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Company registration number: 08057258
KAVIR CULTURAL FOUNDATION LTD
Company limited by guarantee
Unaudited filleted financial statements
31 May 2023
KAVIR CULTURAL FOUNDATION LTD
Company limited by guarantee
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
KAVIR CULTURAL FOUNDATION LTD
Company limited by guarantee
Directors and other information
Directors Mr Javad Kabiri
Company number 08057258
Registered office 37 Boscombe Road
London
W12 9HT
KAVIR CULTURAL FOUNDATION LTD
Company limited by guarantee
Statement of financial position
31 May 2023
2023 2022
Note £ £ £ £
Current assets
Cash at bank and in hand 1,978 3,120
_______ _______
1,978 3,120
Creditors: amounts falling due
within one year 4 ( 240) ( 240)
_______ _______
Net current assets 1,738 2,880
_______ _______
Total assets less current liabilities 1,738 2,880
_______ _______
Net assets 1,738 2,880
_______ _______
Capital and reserves
Profit and loss account 1,738 2,880
_______ _______
Members funds 1,738 2,880
_______ _______
For the year ending 31 May 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 22 February 2024 , and are signed on behalf of the board by:
Mr Javad Kabiri
Director
Company registration number: 08057258
KAVIR CULTURAL FOUNDATION LTD
Company limited by guarantee
Statement of changes in equity
Year ended 31 May 2023
Profit and loss account Total
£ £
At 1 June 2021 1,969 1,969
(Loss)/profit for the year 911 911
_______ _______
Total comprehensive income for the year 911 911
_______ _______
At 31 May 2022 and 1 June 2022 2,880 2,880
(Loss)/profit for the year ( 1,142) ( 1,142)
_______ _______
Total comprehensive income for the year ( 1,142) ( 1,142)
_______ _______
At 31 May 2023 1,738 1,738
_______ _______
KAVIR CULTURAL FOUNDATION LTD
Company limited by guarantee
Notes to the financial statements
Year ended 31 May 2023
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 37 Boscombe Road, London, W12 9HT.
2. Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ('FRS 102') and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a fair view. The financial statements are prepared in Sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
3. Limited by guarantee
The company is limited by guarantee and as such it does not have share capital. In event of the company's winding up, the members' liability is restricted to £1 each.
4. Creditors: amounts falling due within one year
2023 2022
£ £
Other creditors 240 240
_______ _______