Silverfin false false 31/07/2023 01/08/2022 31/07/2023 Thiernkwan Jaroonrattanavanont 16/07/2019 Preecha Tirakijpong 06/06/2023 16/07/2019 12 April 2024 The principal activity of the company is to be that of a guesthouse.

The company was incorporated on 16 July 2019 and has not yet started trading.
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Company No: SC636167 (Scotland)

KIA CHERE LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH THE REGISTRAR

KIA CHERE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2023

Contents

KIA CHERE LIMITED

BALANCE SHEET

AS AT 31 JULY 2023
KIA CHERE LIMITED

BALANCE SHEET (continued)

AS AT 31 JULY 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 885,082 904,107
885,082 904,107
Current assets
Debtors 4 4,711 3,609
Cash at bank and in hand 5 21,405 0
26,116 3,609
Creditors: amounts falling due within one year 6 ( 20,224) ( 12,823)
Net current assets/(liabilities) 5,892 (9,214)
Total assets less current liabilities 890,974 894,893
Creditors: amounts falling due after more than one year 7 ( 1,104,610) ( 1,014,201)
Net liabilities ( 213,636) ( 119,308)
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account ( 213,736 ) ( 119,408 )
Total shareholders' deficit ( 213,636) ( 119,308)

For the financial year ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Kia Chere Limited (registered number: SC636167) were approved and authorised for issue by the Director on 12 April 2024. They were signed on its behalf by:

Thiernkwan Jaroonrattanavanont
Director
KIA CHERE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2023
KIA CHERE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Kia Chere Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 66 Tay Street, Perth, PH2 8RA, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £213,636. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors are recognised at transaction price.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Tangible assets

Land and buildings Total
£ £
Cost
At 01 August 2022 951,230 951,230
At 31 July 2023 951,230 951,230
Accumulated depreciation
At 01 August 2022 47,123 47,123
Charge for the financial year 19,025 19,025
At 31 July 2023 66,148 66,148
Net book value
At 31 July 2023 885,082 885,082
At 31 July 2022 904,107 904,107

4. Debtors

2023 2022
£ £
Other debtors 4,711 3,609

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 21,405 0

6. Creditors: amounts falling due within one year

2023 2022
£ £
Other creditors 20,224 12,823

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Other creditors 1,104,610 1,014,201

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity’s director (or members of its governing body)

Amounts owed to director

2023 2022
£ £
Director's loan account 1,104,610 1,014,201

The above loan is unsecured, interest free and the Directors have confirmed that they will not seek repayment of their loan account for at least 12 months.