Registered number
08094993
Kuyila Limited
Filleted Accounts
31 March 2023
Ref:
K015
Kuyila Limited
Registered number: 08094993
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 417,567 427,980
Current assets
Debtors 4 566,602 596,112
Cash at bank and in hand 31,435 94,399
598,037 690,511
Creditors: amounts falling due within one year 5 (75,133) (104,620)
Net current assets 522,904 585,891
Total assets less current liabilities 940,471 1,013,871
Creditors: amounts falling due after more than one year 6 (555,932) (722,408)
Net assets 384,539 291,463
Capital and reserves
Called up share capital 100 100
Profit and loss account 384,439 291,363
Shareholders' funds 384,539 291,463
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Chang Yuen Lo
Director
Approved by the board on 24 December 2023
Kuyila Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and building 2% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2022 520,668
At 31 March 2023 520,668
Depreciation
At 1 April 2022 92,688
Charge for the year 10,413
At 31 March 2023 103,101
Net book value
At 31 March 2023 417,567
At 31 March 2022 427,980
4 Debtors 2023 2022
£ £
Trade debtors 50,000 20,000
Amounts owed by group undertakings and undertakings in which the company has a participating interest 163,000 228,000
Other debtors 353,602 348,112
566,602 596,112
5 Creditors: amounts falling due within one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 41,300 41,300
Taxation and social security costs 30,951 30,774
Other creditors 2,882 32,546
75,133 104,620
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 373,202 539,678
Other creditors 182,730 182,730
555,932 722,408
7 Other information
Kuyila Limited is a private company limited by shares and incorporated in England. Its registered office is:
24 Anson Road
Manchester
M14 5BQ
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