KUSHAN NEWSAGENTS LTD
Registered number: 09867112
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 36,596 36,596
Tangible assets 4 5,722 15,167
42,318 51,763
Current assets
Stocks 105,505 160,675
Cash at bank and in hand 517,144 35,951
622,649 196,626
Creditors: amounts falling due within one year 5 (588,748) (163,225)
Net current assets 33,901 33,401
Total assets less current liabilities 76,219 85,164
Creditors: amounts falling due after more than one year 6 (26,495) (36,310)
Net assets 49,724 48,854
Capital and reserves
Called up share capital 100 100
Profit and loss account 49,624 48,754
Shareholders' funds 49,724 48,854
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 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.
Sonalben Nishit Patel
Director
Approved by the board on 20 August 2024
KUSHAN NEWSAGENTS LTD
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.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 36,596
At 30 November 2023 36,596
Amortisation
At 30 November 2023 -
Net book value
At 30 November 2023 36,596
At 30 November 2022 36,596
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2022 14,567 26,473 41,040
Disposals - (26,473) (26,473)
At 30 November 2023 14,567 - 14,567
Depreciation
At 1 December 2022 7,589 18,284 25,873
Charge for the year 1,256 - 1,256
On disposals - (18,284) (18,284)
At 30 November 2023 8,845 - 8,845
Net book value
At 30 November 2023 5,722 - 5,722
At 30 November 2022 6,978 8,189 15,167
[For revalued assets, state the years in which the assets were valued and their values. For assets revalued during the reporting period, state the names of the persons who revalued them or particulars of their qualifications for doing so and the bases of valuation used by them.]
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 21,118
Trade creditors 197,864 52,478
Other taxes and social security costs 266 1,348
Other creditors 390,618 88,281
588,748 163,225
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 26,495 36,310
7 Other information
KUSHAN NEWSAGENTS LTD is a private company limited by shares and incorporated in England. Its registered office is:
187A Hertford Road
London
N9 7EP
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