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Registered Number: 09779815
England and Wales

 

 

 

KGN CASH & CARRY LIMITED


Unaudited Filleted Financial Statements
 


Period of accounts

Start date: 01 October 2022

End date: 30 September 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 332,300    346,085 
332,300    346,085 
Current assets      
Stocks 4 186,750    181,250 
Debtors 5 17,331    19,456 
Cash at bank and in hand 5,394    6,700 
209,475    207,406 
Creditors: amount falling due within one year 6 (225,912)   (230,609)
Net current assets (16,437)   (23,203)
 
Total assets less current liabilities 315,863    322,882 
Creditors: amount falling due after more than one year 7 (86,481)   (119,467)
Accruals and deferred income (850)   (800)
Provisions for liabilities 8 (14,928)   (18,204)
Net assets 213,604    184,411 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 213,603    184,410 
Shareholders' funds 213,604    184,411 
 


For the year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 25 September 2024 and were signed by:


-------------------------------
Farzana Irfan Jamidar
Director
1
General Information
KGN Cash & Carry Limited is a private company, limited by shares, registered in England and Wales, registration number 09779815, registration address 7-11 Great Hanover Street, Preston, PR1 1PY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 10% Reducing Balance
Plant and Machinery 18% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 10 (2022 : 10).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 October 2022 198,548    322,587    521,135 
Additions 33,667      33,667 
Disposals    
At 30 September 2023 232,215    322,587    554,802 
Depreciation
At 01 October 2022 113,759    61,291    175,050 
Charge for year 21,322    26,130    47,452 
On disposals    
At 30 September 2023 135,081    87,421    222,502 
Net book values
Closing balance as at 30 September 2023 97,134    235,166    332,300 
Opening balance as at 01 October 2022 84,789    261,296    346,085 


4.

Stocks

2023
£
  2022
£
Stocks 186,750    181,250 
186,750    181,250 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 15,502    12,250 
VAT 1,829    7,206 
17,331    19,456 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 168,235    165,350 
Bank Loans & Overdrafts (Secured) 13,331    8,958 
Bank Loans & Overdrafts 10,000    10,000 
Corporation Tax 16,668    7,465 
PAYE & Social Security 8,421    4,603 
Other Creditors 5,000    5,000 
Directors' Current Accounts 4,257    29,233 
225,912    230,609 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 18,333    28,333 
Other Creditors 68,148    91,134 
86,481    119,467 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 14,928    18,204 
14,928    18,204 

2