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REGISTERED NUMBER: 09511341 (England and Wales)










KANDOLA RETAIL LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






KANDOLA RETAIL LTD (REGISTERED NUMBER: 09511341)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KANDOLA RETAIL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr M Singh
Mr R Kaur
Mr K S Kandola





SECRETARY:





REGISTERED OFFICE: 12 Whitney Drive
Stevenage,
Hertfordshire,
SG1 4BQ





REGISTERED NUMBER: 09511341 (England and Wales)





ACCOUNTANTS: Shah & Co (Accountants) Ltd
Chartered Certified Accountants
Cash's Business Centre
1st Floor
228 Widdrington Road
Coventry
West Midlands
CV1 4PB

KANDOLA RETAIL LTD (REGISTERED NUMBER: 09511341)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 13,500 20,250
Tangible assets 5 138,192 143,836
151,692 164,086

CURRENT ASSETS
Stocks 209,130 194,030
Cash at bank and in hand 130,858 163,175
339,988 357,205
CREDITORS
Amounts falling due within one year 6 241,454 289,082
NET CURRENT ASSETS 98,534 68,123
TOTAL ASSETS LESS CURRENT
LIABILITIES

250,226

232,209

CREDITORS
Amounts falling due after more than one year 7 33,266 43,333
NET ASSETS 216,960 188,876

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 216,860 188,776
216,960 188,876

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

KANDOLA RETAIL LTD (REGISTERED NUMBER: 09511341)

BALANCE SHEET - continued
31 MARCH 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 22 March 2024 and were signed on its behalf by:





Mr M Singh - Director


KANDOLA RETAIL LTD (REGISTERED NUMBER: 09511341)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Kandola Retail Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

KANDOLA RETAIL LTD (REGISTERED NUMBER: 09511341)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 67,500
AMORTISATION
At 1 April 2022 47,250
Charge for year 6,750
At 31 March 2023 54,000
NET BOOK VALUE
At 31 March 2023 13,500
At 31 March 2022 20,250

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 81,500 103,977 185,477
Additions - 833 833
At 31 March 2023 81,500 104,810 186,310
DEPRECIATION
At 1 April 2022 - 41,641 41,641
Charge for year - 6,477 6,477
At 31 March 2023 - 48,118 48,118
NET BOOK VALUE
At 31 March 2023 81,500 56,692 138,192
At 31 March 2022 81,500 62,336 143,836

KANDOLA RETAIL LTD (REGISTERED NUMBER: 09511341)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 14,695 34,859
Taxation and social security 22,063 15,780
Other creditors 204,696 238,443
241,454 289,082

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 33,266 43,333

Amounts falling due in more than five years:

Repayable by instalments
Long term Bank Loan 33,266 43,333

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

In other creditors, amount owed to the directors was £202,696 (2022: £230,479). The monies are non-interest bearing and have no fixed rate of repayment.