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REGISTERED NUMBER: 12063034 (England and Wales)


Kuzey London Limited
T/A
Oli Food Centre

Abridged Unaudited Financial Statements

for the Year Ended 31 March 2024






Kuzey London Limited (Registered number: 12063034)
T/A Oli Food Centre






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Kuzey London Limited
T/A Oli Food Centre

Company Information
for the year ended 31 March 2024







DIRECTOR: Mr A Kara





REGISTERED OFFICE: Unit 2
332-334 Walworth Road
London
SE17 2NA





REGISTERED NUMBER: 12063034 (England and Wales)





ACCOUNTANTS: Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Kuzey London Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kuzey London Limited for the year ended 31 March 2024 which comprise the Abridged Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Kuzey London Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kuzey London Limited and state those matters that we have agreed to state to the director of Kuzey London Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kuzey London Limited and its director for our work or for this report.

It is your duty to ensure that Kuzey London Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kuzey London Limited. You consider that Kuzey London Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Kuzey London Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU


18 September 2024

Kuzey London Limited (Registered number: 12063034)
T/A Oli Food Centre

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 27,994 29,331

CURRENT ASSETS
Inventories 5 208,915 261,000
Debtors 6 398,485 396,511
Cash at bank and in hand 192,372 193,888
799,772 851,399
CREDITORS
Amounts falling due within one year 7 462,628 526,498
NET CURRENT ASSETS 337,144 324,901
TOTAL ASSETS LESS CURRENT
LIABILITIES

365,138

354,232

CREDITORS
Amounts falling due after more than one
year

8

(17,568

)

(28,402

)

PROVISIONS FOR LIABILITIES 9 (6,393 ) (5,039 )
NET ASSETS 341,177 320,791

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 341,077 320,691
SHAREHOLDERS' FUNDS 341,177 320,791

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Kuzey London Limited (Registered number: 12063034)
T/A Oli Food Centre

Statement of Financial Position - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 September 2024 and were signed by:





Mr A Kara - Director


Kuzey London Limited (Registered number: 12063034)
T/A Oli Food Centre

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Kuzey London 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is generated from the ordinary activities of the business and is recognised when customer takes delivery of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - straight line over the life of the lease
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is determined on first in first out basis. Net realisable value is the selling price of the items less any cost to sell.

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 statement of financial position date.


Kuzey London Limited (Registered number: 12063034)
T/A Oli Food Centre

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 18 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 2,907 49,344 52,251
Additions - 5,443 5,443
At 31 March 2024 2,907 54,787 57,694
DEPRECIATION
At 1 April 2023 97 22,823 22,920
Charge for year 387 6,393 6,780
At 31 March 2024 484 29,216 29,700
NET BOOK VALUE
At 31 March 2024 2,423 25,571 27,994
At 31 March 2023 2,810 26,521 29,331

Kuzey London Limited (Registered number: 12063034)
T/A Oli Food Centre

Notes to the Financial Statements - continued
for the year ended 31 March 2024

5. INVENTORIES
2024 2023
£    £   
Stocks 208,915 261,000

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 36,844 28,906
Other debtors 346,641 352,605
383,485 381,511

Amounts falling due after more than one year:
Other debtors 15,000 15,000

Aggregate amounts 398,485 396,511

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,133 9,133
Trade creditors 117,776 109,305
Taxation and social security 49,114 15,192
Other creditors 286,605 392,868
462,628 526,498

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 17,568 28,402

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 6,393 5,039

Kuzey London Limited (Registered number: 12063034)
T/A Oli Food Centre

Notes to the Financial Statements - continued
for the year ended 31 March 2024

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 5,039
Charge to Income Statement during year 1,354
Balance at 31 March 2024 6,393

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 April 2023 320,691
Profit for the year 138,033
Dividends (117,647 )
At 31 March 2024 341,077

12. RELATED PARTY DISCLOSURES

Persons with significant influence

Company owes £58,701 (2023:£165,739) to related party at balance sheet date. An interest free loan payable on demand and is presented within creditors' note.

Entities with control, joint control or significant influence over the entity

1. Amounts due from related party at balance sheet date £300,000 (2023:£300,000). An interest-free loan is repayable on demand and is presented within debtors' note.

2. Amounts due to related party at balance sheet date £199,308 (2023:£200,701). An interest-free loan is payable on demand and is presented within creditors' note.