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REGISTERED NUMBER: 08578583 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

KWAZAR UK LTD

KWAZAR UK LTD (REGISTERED NUMBER: 08578583)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KWAZAR UK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTOR: R G Draper





REGISTERED OFFICE: Unit 3
Forge Trading Estate
Mucklow Hill
Halesowen
West Midlands
B62 8TP





REGISTERED NUMBER: 08578583 (England and Wales)






KWAZAR UK LTD (REGISTERED NUMBER: 08578583)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,111 13,284

CURRENT ASSETS
Stocks 265,211 408,650
Debtors 5 211,282 264,653
Cash at bank and in hand 39,109 29,710
515,602 703,013
CREDITORS
Amounts falling due within one year 6 398,552 585,869
NET CURRENT ASSETS 117,050 117,144
TOTAL ASSETS LESS CURRENT
LIABILITIES

126,161

130,428

CREDITORS
Amounts falling due after more than one
year

7

(19,333

)

(27,333

)

PROVISIONS FOR LIABILITIES (2,524 ) (2,218 )
NET ASSETS 104,304 100,877

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 104,204 100,777
SHAREHOLDERS' FUNDS 104,304 100,877

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

KWAZAR UK LTD (REGISTERED NUMBER: 08578583)

BALANCE SHEET - continued
30 SEPTEMBER 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 director and authorised for issue on 22 January 2024 and were signed by:





R G Draper - Director


KWAZAR UK LTD (REGISTERED NUMBER: 08578583)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Kwazar UK 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The financial statements are rounded to the nearest £.

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.

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 have been consistently applied within the same accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when goods have been despatched to customers.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Government grants
Covid-19 grants under the CJRS scheme are accounted for on the accruals basis. Local authority Covid grants are accounted for on the accruals basis.

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.


KWAZAR UK LTD (REGISTERED NUMBER: 08578583)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to proft or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 45,577
Disposals (100 )
At 30 September 2023 45,477
DEPRECIATION
At 1 October 2022 32,293
Charge for year 4,173
Eliminated on disposal (100 )
At 30 September 2023 36,366
NET BOOK VALUE
At 30 September 2023 9,111
At 30 September 2022 13,284

KWAZAR UK LTD (REGISTERED NUMBER: 08578583)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 143,960 187,282
Other debtors 67,322 77,371
211,282 264,653

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 365,540 537,268
Taxation and social security 13,402 33,367
Other creditors 19,610 15,234
398,552 585,869

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 19,333 27,333

8. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of £154,592 (2022 - £199,272).

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022:

2023 2022
£    £   
R G Draper
Balance outstanding at start of year 37,461 37,461
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 37,461 37,461