Company Registration No. 09888066 (England and Wales)
Kachin Investment Group Limited
Unaudited accounts
for the year ended 30 November 2023
Kachin Investment Group Limited
Unaudited accounts
Contents
Kachin Investment Group Limited
Company Information
for the year ended 30 November 2023
Directors
Maureen Ja Bu Lagra
Goontawng Lashi
Hkun Htoi Layang
Mung Shawng Mahkaw
Company Number
09888066 (England and Wales)
Registered Office
25 Melford Grove
Liverpool
L6 4DN
UK
Kachin Investment Group Limited
Statement of financial position
as at 30 November 2023
Cash at bank and in hand
7,212
18,262
Creditors: amounts falling due within one year
(520)
(2,315)
Net current assets
16,204
36,473
Total assets less current liabilities
43,242
96,514
Creditors: amounts falling due after more than one year
(75,451)
(70,287)
Net (liabilities)/assets
(32,209)
26,227
Called up share capital
16,500
16,500
Profit and loss account
(48,709)
9,727
Shareholders' funds
(32,209)
26,227
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by
Hkun Htoi Layang
Director
Company Registration No. 09888066
Kachin Investment Group Limited
Notes to the Accounts
for the year ended 30 November 2023
Kachin Investment Group Limited is a private company, limited by shares, registered in England and Wales, registration number 09888066. The registered office is 25 Melford Grove, Liverpool, L6 4DN, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
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 also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The directors have relied on local knowledge and Zoopla to confirm the current market value of the investment property is reasonable.
5
Investments
Other investments
Valuation at 1 December 2022
60,041
Fair value adjustments
(33,003)
Valuation at 30 November 2023
27,038
The company also owns a 40% holding in Sayurit Sushi Ltd, a restaurant and take away business in London. The investment is held at cost.
After the year end the directors considered the value of the 32.5% holding in Sayurit Sushi (South Ealing) Ltd, a restaurant and take away business in London, to be Nil as the company ceased trading post the year end.
Amounts falling due within one year
Amounts due from group undertakings etc.
6,642
20,526
Kachin Investment Group Limited
Notes to the Accounts
for the year ended 30 November 2023
7
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
-
105
8
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
75,451
70,287
The loan (£90,000) represents an interest only mortgage secured on the investment property at 6 Dentdale Drive, Liverpool, L5 3ST.
The other creditors are funds lent to the company by the shareholders in proportion to their share capital holdings. The current balance owed by the company is £65,847. In 2020 the shareholders agreed to move other reserves of £31,763 from capital to long term creditors and an additional £39,568 was lent to the business this year as funding loans.
Allotted, called up and fully paid:
16,500 Ordinary shares of £1 each
16,500
16,500
10
Transactions with related parties
During the year the company provided various banking services for it's investment business, Sayurit Sushi Ltd and Sayurit Sushi (South Ealing) Ltd and guaranteed the rent for the property that the businesses operate out of.
In return the company was charged management charges of £nil (2022 : £3,500) by Sayurit Sushi Ltd and £nil (2022 : £3,500) by Sayurit Sushi (South Ealing) Ltd.
The company is owed £6,642 by Sayurit Sushi Ltd (2022 £16,550) at the year end and is owed £nil by Sayurit Sushi (South Ealing) Ltd (2022 £3,976), as the directors decided to provide against the amount owed of £29,050 at the year end.
11
Post balance sheet events
After the year end Sayurit Sushi (South Ealing) Ltd, a company the company owns 32.5% in ceased trading and the directors believe the value of assets at the year end should be provided against and written down to £nil. The investment was held at £33,003 and there was an inter company debt of £25,026, both of which are deemed to be irrecoverable.
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Average number of employees
During the year the average number of employees was 4 (2022: 4).