Registered number
11367590
K.C. Global Group Limited
Unaudited Filleted Accounts
31 May 2024
K.C. Global Group Limited
Registered number: 11367590
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 33,063 44,084
Current assets
Debtors 4 7,500 23,091
Cash at bank and in hand 35,976 33,591
43,476 56,682
Creditors: amounts falling due within one year 5 (19,478) (30,998)
Net current assets 23,998 25,684
Total assets less current liabilities 57,061 69,768
Creditors: amounts falling due after more than one year 6 (34,372) (39,633)
Net assets 22,689 30,135
Capital and reserves
Called up share capital 2 2
Profit and loss account 22,687 30,133
Shareholders' funds 22,689 30,135
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.
Xueqin Chen
Director
Approved by the board on 16 August 2024
K.C. Global Group Limited
Notes to the Accounts
for the year ended 31 May 2024
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:
Motor vehicles over 5 years
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 June 2023 55,105
At 31 May 2024 55,105
Depreciation
At 1 June 2023 11,021
Charge for the year 11,021
At 31 May 2024 22,042
Net book value
At 31 May 2024 33,063
At 31 May 2023 44,084
4 Debtors 2024 2023
£ £
Trade debtors 7,500 2,091
Other debtors - 21,000
7,500 23,091
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 19,478 30,998
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 34,372 39,633
7 Other information
K.C. Global Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
22 Maywood Road
Oxford
Oxfordshire
OX4 4EE
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