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Company Registration No. 01717575 (England and Wales)
Kolara Limited Unaudited accounts for the year ended 30 September 2023
Kolara Limited Unaudited accounts Contents
Page
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Kolara Limited Company Information for the year ended 30 September 2023
Director
P Petrou
Company Number
01717575 (England and Wales)
Registered Office
2 Joseph Street Gosport Hants PO12 1NT
Accountants
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN
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Kolara Limited Accountants' report
Accountants' report to the director of Kolara Limited on the preparation of the unaudited statutory accounts for the year ended 30 September 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Kolara Limited for the year ended 30 September 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Kolara Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Kolara Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kolara Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Kolara Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Kolara Limited. You consider that Kolara Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Kolara Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN 1 April 2024
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Kolara Limited Statement of financial position as at 30 September 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
208 
269 
Current assets
Cash at bank and in hand
19,278 
20,893 
Creditors: amounts falling due within one year
(6,472)
(10,941)
Net current assets
12,806 
9,952 
Total assets less current liabilities
13,014 
10,221 
Creditors: amounts falling due after more than one year
- 
(10,316)
Net assets/(liabilities)
13,014 
(95)
Capital and reserves
Called up share capital
45,000 
45,000 
Profit and loss account
(31,986)
(45,095)
Shareholders' funds
13,014 
(95)
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 1 April 2024 and were signed on its behalf by
P Petrou Director Company Registration No. 01717575
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Kolara Limited Notes to the Accounts for the year ended 30 September 2023
1
Statutory information
Kolara Limited is a private company, limited by shares, registered in England and Wales, registration number 01717575. The registered office is 2 Joseph Street, Gosport, Hants, PO12 1NT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
16.66% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
4
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 October 2022
5,406 
27,867 
56,399 
89,672 
At 30 September 2023
5,406 
27,867 
56,399 
89,672 
Depreciation
At 1 October 2022
5,334 
27,704 
56,365 
89,403 
Charge for the year
12 
41 
8 
61 
At 30 September 2023
5,346 
27,745 
56,373 
89,464 
Net book value
At 30 September 2023
60 
122 
26 
208 
At 30 September 2022
72 
163 
34 
269 
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Kolara Limited Notes to the Accounts for the year ended 30 September 2023
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
41 
167 
Loans from directors
5,283 
10,099 
Accruals
1,148 
675 
6,472 
10,941 
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
- 
10,316 
7
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
P Petrou
Director's Current Account
(10,099)
(312)
(5,128)
(5,283)
(10,099)
(312)
(5,128)
(5,283)
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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