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REGISTERED NUMBER: 07279184 (England and Wales)















Kosmic Karma Ltd

Unaudited Financial Statements for the Year Ended 30 June 2023






Kosmic Karma Ltd (Registered number: 07279184)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Kosmic Karma Ltd (Registered number: 07279184)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,642 2,189

CURRENT ASSETS
Debtors 5 26,700 14,320
Cash at bank and in hand 1,982 5,259
28,682 19,579
CREDITORS
Amounts falling due within one year 6 38,184 32,202
NET CURRENT LIABILITIES (9,502 ) (12,623 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(7,860

)

(10,434

)

CREDITORS
Amounts falling due after more than
one year

7

21,665

30,357
NET LIABILITIES (29,525 ) (40,791 )

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings (29,528 ) (40,794 )
(29,525 ) (40,791 )

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 directors acknowledge their 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.

Kosmic Karma Ltd (Registered number: 07279184)

Balance Sheet - continued
30 June 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:





M Vara - Director


Kosmic Karma Ltd (Registered number: 07279184)

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

1. STATUTORY INFORMATION

Kosmic Karma Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07279184

Registered office: Fourwinds
Brookshill Drive
Harrow Weald
Middlesex
HA3 6SA

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Kosmic Karma Ltd (Registered number: 07279184)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022
and 30 June 2023 5,408
DEPRECIATION
At 1 July 2022 3,219
Charge for year 547
At 30 June 2023 3,766
NET BOOK VALUE
At 30 June 2023 1,642
At 30 June 2022 2,189

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 5,043 5,043
Other debtors 21,657 9,277
26,700 14,320

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 461 461
Taxation and social security 16,328 20,607
Other creditors 21,395 11,134
38,184 32,202

Kosmic Karma Ltd (Registered number: 07279184)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans 21,665 30,357

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

30.6.23 30.6.22
£    £   
M Vara
Balance outstanding at start of year 1,255 617
Amounts advanced 15,200 12,769
Amounts repaid (3,500 ) (12,131 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,955 1,255