Registered number
08782604
Kozangian Limited
Unaudited Filleted Accounts
30 November 2023
Kozangian Limited
Registered number: 08782604
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Current assets
Stocks 38,200 23,605
Debtors 3 864 -
Cash at bank and in hand 164,208 211,236
203,272 234,841
Creditors: amounts falling due within one year 4 (157,980) (158,592)
Net current assets 45,292 76,249
Total assets less current liabilities 45,292 76,249
Creditors: amounts falling due after more than one year 5 (19,169) (29,168)
Net assets 26,123 47,081
Capital and reserves
Called up share capital 1 1
Profit and loss account 26,122 47,080
Shareholder's funds 26,123 47,081
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
…...................................
K Kozangian
Director
Approved by the board on 12 August 2024
Kozangian Limited
Notes to the Accounts
for the year ended 30 November 2023
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 2
3 Debtors 2023 2022
£ £
Other debtors 864 -
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 125,736 110,991
Taxation and social security costs 3,982 2,581
Other creditors 18,262 35,020
157,980 158,592
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 19,169 29,168
6 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 29,169 39,168
The company applied and received funding in the form of a Bounce Back Loan, a government backed scheme introduced in order to combat the adverse impact of the coronavirus (COVID-19) on businesses. The scheme is 100% guaranteed by the government who also cover the first 12 months of interest payments.
7 Other information
Kozangian Limited is a private company limited by shares and incorporated in England. Its registered office is:
71 Goldhawk Road
Shepherds Bush
London
W12 8EG
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