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Registered Number: 10179246


 

 

 

KIA TRADING LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2022

End date: 31 May 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 3,024    3,687 
3,024    3,687 
Current assets      
Stocks 4 67,975    88,075 
Debtors 5   147 
Cash at bank and in hand 19,162    10,208 
87,137    98,430 
Creditors: amount falling due within one year 6 (35,067)   (55,536)
Net current assets 52,070    42,894 
 
Total assets less current liabilities 55,094    46,581 
Creditors: amount falling due after more than one year 7 (39,182)   (44,367)
Provisions for liabilities 8 (65)   (65)
Net assets 15,847    2,149 
 

Capital and reserves
     
Called up share capital 1   
Profit and loss account 15,846    2,149 
Shareholder's funds 15,847    2,149 
 


For the year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 23 February 2024 and were signed by:


-------------------------------
Mrs Shazia MIRZA,
Director
1
General Information
KIA TRADING LIMITED is a private company, limited by shares, registered in , registration number 10179246, registration address 78 KINGSLAND HIGH STREET, HACKNEY LONDON, E8 2NS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognized in the statement of income, except to the extent that it relates to items recognized in other comprehensive income or directly in capital and reserves. The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 18% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 6 (2022 : 6).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 June 2022 10,000    10,000 
Additions  
Disposals  
At 31 May 2023 10,000    10,000 
Depreciation
At 01 June 2022 6,313    6,313 
Charge for year 663    663 
On disposals  
At 31 May 2023 6,976    6,976 
Net book values
Closing balance as at 31 May 2023 3,024    3,024 
Opening balance as at 01 June 2022 3,687    3,687 


4.

Stocks

2023
£
  2022
£
Stocks 67,975    88,075 
67,975    88,075 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
VAT   147 
  147 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 13,109    45,544 
Corporation Tax 4,956    269 
PAYE & Social Security 9,264    2,777 
Accrued Expenses 2,456    1,946 
Other Creditors 5,000    5,000 
VAT 282   
35,067    55,536 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts (secured) 39,182    44,367 
39,182    44,367 

8.

Provisions for liabilities

2023
£
  2022
£
Pension Provisions 65    65 
65    65 

2