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REGISTERED NUMBER: 04976598 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th November 2023

for

K LI LIMITED

K LI LIMITED (REGISTERED NUMBER: 04976598)






Contents of the Financial Statements
for the Year Ended 30th November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


K LI LIMITED

Company Information
for the Year Ended 30th November 2023







DIRECTORS: Mr K C K Li
Mrs F P Li





SECRETARY: Mr T Y S Li





REGISTERED OFFICE: 41 St Thomas's Road
Chorley
Lancashire
PR7 1JE





REGISTERED NUMBER: 04976598 (England and Wales)





ACCOUNTANTS: Abrams Ashton - Chorley Limited
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

K LI LIMITED (REGISTERED NUMBER: 04976598)

Balance Sheet
30th November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,375 13,246

CURRENT ASSETS
Debtors 5 1,338 18,986
Cash at bank 12,821 13,455
14,159 32,441
CREDITORS
Amounts falling due within one year 6 12,598 21,242
NET CURRENT ASSETS 1,561 11,199
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,936

24,445

PROVISIONS FOR LIABILITIES 2,731 2,517
NET ASSETS 13,205 21,928

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 13,105 21,828
SHAREHOLDERS' FUNDS 13,205 21,928

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 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.

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 25th August 2024 and were signed on its behalf by:



Mr K C K Li - Director


K LI LIMITED (REGISTERED NUMBER: 04976598)

Notes to the Financial Statements
for the Year Ended 30th November 2023

1. STATUTORY INFORMATION

K LI Limited 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.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents amounts received for services rendered, stated net of discounts and of Value Added Tax.

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 - 33.3% on reducing balance
Computer equipment - 33.3% on cost

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

K LI LIMITED (REGISTERED NUMBER: 04976598)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

2. ACCOUNTING POLICIES - continued

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st December 2022 8,565 26,515 35,080
Additions - 9,140 9,140
Disposals - (610 ) (610 )
At 30th November 2023 8,565 35,045 43,610
DEPRECIATION
At 1st December 2022 5,841 15,993 21,834
Charge for year 909 6,526 7,435
Eliminated on disposal - (34 ) (34 )
At 30th November 2023 6,750 22,485 29,235
NET BOOK VALUE
At 30th November 2023 1,815 12,560 14,375
At 30th November 2022 2,724 10,522 13,246

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Amounts recoverable on contract - 17,634
Prepayments and accrued income 1,338 1,352
1,338 18,986

K LI LIMITED (REGISTERED NUMBER: 04976598)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors 146 1,367
Tax 4,042 3,881
Social security and other taxes 109 182
VAT 2,795 10,980
Other creditors 1,498 2,180
Directors' current accounts 2,208 1,302
Accrued expenses 1,800 1,350
12,598 21,242

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.11.23 30.11.22
£    £   
Within one year 7,941 -
Between one and five years 19,854 -
27,795 -

8. RELATED PARTY DISCLOSURES

As at 30th November 2023, the company owed to its directors £2,208 (2022: £1,302). No Interest has been charged to the company in respect of this loan and it is repayable on demand.

9. ULTIMATE CONTROLLING PARTY

During the current period Mrs F P Li has controlled the company by virtue of her holding 90% of the issued ordinary share capital.