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Registered Number: 09724585


 

 

 

KUSTRO LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2022

End date: 31 August 2023
Directors Szabolcs Kustan
Szabolcs Kustan
Registered Number 09724585
Registered Office UNIT 9 EXPRESSWAY BUSINESS PARK STATION ROAD
QUEENSFERRY DEESIDE
CH5 2TF
Accountants J.L.Bookkeeping and Advice Services Ltd
Paddock Business Centre
2 Paddock Road
Skelmersdale
WN8 9PL
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 August 2023.
Principal activities
Principal activity of the company during the financial year was of ...
Directors
The directors who served the company throughout the year were as follows:
Szabolcs Kustan
Szabolcs Kustan
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Szabolcs Kustan
Director

Date approved: 07 March 2024
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 August 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
J.L.Bookkeeping and Advice Services Ltd
31 August 2023



....................................................
J.L.Bookkeeping and Advice Services Ltd
Paddock Business Centre
2 Paddock Road
Skelmersdale
WN8 9PL
07 March 2024
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 655,506    468,473 
655,506    468,473 
Current assets      
Debtors 4 7,689    100,120 
Cash at bank and in hand 36,665    38,544 
44,354    138,664 
Creditors: amount falling due within one year 5 (6,289)   (424,878)
Net current assets 38,065    (286,214)
 
Total assets less current liabilities 693,571    182,259 
Creditors: amount falling due after more than one year 6 (542,238)  
Provisions for liabilities 7 (253)   (16,577)
Net assets 151,080    165,682 
 

Capital and reserves
     
Profit and loss account 151,080    165,682 
Shareholder's funds 151,080    165,682 
 


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

Directors' 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 directors acknowledge 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 board of directors on 07 March 2024 and were signed on its behalf by:


-------------------------------
Szabolcs Kustan
Director
4
  Retained Earnings   Total
£ £
At 01 September 2021 46,291  46,291 
Profit for the year 119,391  119,391 
Total comprehensive income for the year 119,391  119,391 
Total investments by and distributions to owners
At 31 August 2022 165,682  165,682 
At 01 September 2022 165,619  165,619 
Profit for the year (14,539) (14,539)
Total comprehensive income for the year (14,539) (14,539)
Total investments by and distributions to owners
At 31 August 2023 151,080  151,080 
5
General Information
KUSTRO LIMITED is a private company, limited by shares, registered in , registration number 09724585, registration address UNIT 9 EXPRESSWAY BUSINESS PARK STATION ROAD, QUEENSFERRY DEESIDE, CH5 2TF.

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.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s 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:
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
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

12
Average number of employees during the year was 12 (2022 : 6).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 September 2022   525,512    1,039    4,115    530,666 
Additions 113,000    102,990      147    216,137 
Disposals        
At 31 August 2023 113,000    628,502    1,039    4,262    746,803 
Depreciation
At 01 September 2022   60,711    125    1,357    62,193 
Charge for year   28,591    55    458    29,104 
On disposals        
At 31 August 2023   89,302    180    1,815    91,297 
Net book values
Closing balance as at 31 August 2023 113,000    539,200    859    2,447    655,506 
Opening balance as at 01 September 2022   464,801    914    2,758    468,473 

The net book value of Motor Vehicles includes £ 151,241 (2022 £54,984) in respect of assets leased under finance leases or hire purchase contracts.

4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Directors' Current Accounts 1,048    69,000 
VAT 6,641    31,120 
7,689    100,120 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors   10,413 
PAYE & Social Security   19,196 
Other Creditors 1    (1)
Wages & Salaries Control Account 6,288    395,270 
6,289    424,878 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Obligations Under HP/Financial Leases 542,238   
542,238   

7.

Provisions for liabilities

2023
£
  2022
£
Pension Provisions 253    16,577 
253    16,577 

6