Registered Number:05598228 |
For the year ended 30 June 2023
England and Wales
Unaudited Financial Statements
For the year ended 30 June 2023
Kvasir Group Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
Kvasir Group Limited
Statement of Financial Position
2022
2023
Property, plant and equipment |
33,100
45,268
2
33,100
45,268
2,804
657
3
Trade and other receivables |
283,899
549,808
4
121,478
Cash and cash equivalents |
148,034
698,499
408,181
Trade and other payables: amounts falling due within one |
year |
(122,716)
(573,716)
5
285,465
124,783
Net current assets
Total assets less current liabilities |
157,883
330,733
(6,188)
(8,477)
Provisions for liabilities |
151,695
Net assets
322,256
9,000
9,000
12,000
12,000
130,695
301,256
151,695
322,256
Shareholders' funds
For the year ended 30 June 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 of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
Mr Thomas William Wade Director |
These financial statements were approved and authorised for issue by the Board on 14 December 2023 and were signed by: |
The notes form part of these financial statements |
1 of 4
For the year ended 30 June 2023
Kvasir Group Limited
Notes to the Financial Statements
Statutory Information
Kvasir Group Limited is a private limited company, limited by shares, domiciled in England and Wales, registration |
number 05598228. |
16 Witney Way
Boldon Business Park
Boldon
Tyne & Wear
NE35 9PE
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes. |
Property, plant and equipment
Property, plant and equipment, 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: |
Land and Buildings
Computer Equipment
Motor Vehicles
Furniture and Fittings
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable. |
2 of 4
For the year ended 30 June 2023
Kvasir Group Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment |
Motor Vehicles
154,649
76,078
66,221
12,350
12,350
66,221
76,078
154,649
Provision for depreciation and impairment |
109,381
65,860
31,174
12,347
Charge for year
12,168
3,406
8,762
-
121,549
69,266
39,936
12,347
3
26,285
6,812
33,100
3
35,047
10,218
45,268
2022
2023
657
2,804
4. Trade and other receivables |
2022
2023
369,488
98,559
180,320
185,340
283,899
549,808
5. Trade and other payables: amounts falling due within one year |
2022
2023
90,552
70,817
Taxation and social security |
368,092
5,983
115,072
45,916
573,716
122,716
3 of 4
For the year ended 30 June 2023
Kvasir Group Limited
Notes to the Financial Statements Continued
6. Related party transactions |
As at 30 June 2023, Mr Jeff Clark (director) owed £77,831 (year ended 30 June 2022 - £71,344). This balance |
arose in relation to a loan. |
As at 30 June 2023, Mr Thomas Wade (director of the company) was owed £21,750 (year ended 30 June 2022 - |
£40,264). This balance was in relation to a Loan. |
As at 30 June 2023, Mr John Clark (director of the company) owed £66,150 (year ended 30 June 2022 - £67,100). |
This balance was in relation to a loan. |
7. Directors advances and guarantees |
Loaned
Repaid
Mr Jeffrey Clark
Loan Account
(77,831)
(71,344)
(78,487)
(72,000)
(77,831)
(71,344)
(78,487)
(72,000)
Mr John Charles Clark
Loan Account
(66,150)
(67,100)
(74,050)
(75,000)
(66,150)
(67,100)
(74,050)
(75,000)
8. Average number of persons employed |
During the year the average number of employees was 12 (2022 : 10)
4 of 4