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Company Registration No. 07880332 (England and Wales)
Karzmic Ltd Filleted accounts for the year ended 31 December 2023
Karzmic Ltd Filleted accounts Contents
Page
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Karzmic Ltd Company Information for the year ended 31 December 2023
Director
Karen Elaine Way
Company Number
07880332 (England and Wales)
Registered Office
2 Mole Place West Molesey Surrey KT8 2AG
Accountants
YP Finance Hawthorne House 17A Hawthorne Drive Leicester Leicestershire LE5 6DL
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Karzmic Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investments
31,259 
40,975 
Current assets
Debtors
- 
3,060 
Cash at bank and in hand
9,852 
5,552 
9,852 
8,612 
Creditors: amounts falling due within one year
(40,246)
(49,487)
Net current liabilities
(30,394)
(40,875)
Net assets
865 
100 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
765 
- 
Shareholders' funds
865 
100 
For the year ending 31 December 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 director acknowledges her 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 and authorised for issue on 3 May 2024 and were signed on its behalf by
Karen Elaine Way Director Company Registration No. 07880332
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Karzmic Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Karzmic Ltd is a private company, limited by shares, registered in England and Wales, registration number 07880332. The registered office is 2 Mole Place, West Molesey, Surrey, KT8 2AG.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
3 years straight line
Computer equipment
3 years straight line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Investments
Investments in shares are included at fair value.
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Karzmic Ltd Notes to the Accounts for the year ended 31 December 2023
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
746 
1,807 
2,553 
At 31 December 2023
746 
1,807 
2,553 
Depreciation
At 1 January 2023
746 
1,807 
2,553 
At 31 December 2023
746 
1,807 
2,553 
Net book value
At 31 December 2023
- 
- 
- 
5
Investments
Other investments 
£ 
Valuation at 1 January 2023
40,975 
Fair value adjustments
(9,716)
Valuation at 31 December 2023
31,259 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
3,060 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
5,213 
3,895 
Trade creditors
96 
176 
Taxes and social security
10,925 
17,767 
Other creditors
23,099 
26,539 
Accruals
913 
1,110 
40,246 
49,487 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
99 A Ordinary shares of £1 each
99 
99 
1 B Ordinary shares of £1 each
1 
1 
100 
100 
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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