Company Registration No. 01717575 (England and Wales)
Kolara Limited
Unaudited accounts
for the year ended 30 September 2023
Kolara Limited
Unaudited accounts
Contents
Kolara Limited
Company Information
for the year ended 30 September 2023
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
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
Kolara Limited
Statement of financial position
as at 30 September 2023
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)
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
Kolara Limited
Notes to the Accounts
for the year ended 30 September 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 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
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
At 30 September 2023
60
122
26
208
At 30 September 2022
72
163
34
269
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
6
Creditors: amounts falling due after more than one year
2023
2022
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
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).