Registered number
12064392
KMSA Odedra Limited
Filleted Accounts
30 June 2024
KMSA Odedra Limited
Registered number: 12064392
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 78,863 83,792
Tangible assets 4 28,345 33,436
107,208 117,228
Current assets
Stocks 55,760 40,205
Debtors 5 8,063 3,461
Cash at bank and in hand 30,290 53,977
94,113 97,643
Creditors: amounts falling due within one year 6 (29,391) (38,083)
Net current assets 64,722 59,560
Total assets less current liabilities 171,930 176,788
Creditors: amounts falling due after more than one year 7 (158,174) (164,083)
Net assets 13,756 12,705
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 12,756 11,705
Shareholders' funds 13,756 12,705
The director is 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 director acknowledges his 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 and delivered 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.
Mr Sagar Keshu Odedra
Director
Approved by the board on 18 September 2024
KMSA Odedra Limited
Notes to the Accounts
for the year ended 30 June 2024
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 (as applied to small entities by section 1A of the standard).
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery 15% reducing balance
Motor vehicle 25% reducing balance
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2023 103,508
At 30 June 2024 103,508
Amortisation
At 1 July 2023 19,716
Provided during the year 4,929
At 30 June 2024 24,645
Net book value
At 30 June 2024 78,863
At 30 June 2023 83,792
Goodwill is being written off in equal annual instalments over its estimated economic life of 21 years.
4 Tangible fixed assets
Land and buildings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 1 62,033 2,400 64,434
At 30 June 2024 1 62,033 2,400 64,434
Depreciation
At 1 July 2023 - 29,357 1,641 30,998
Charge for the year - 4,901 190 5,091
At 30 June 2024 - 34,258 1,831 36,089
Net book value
At 30 June 2024 1 27,775 569 28,345
At 30 June 2023 1 32,676 759 33,436
5 Debtors 2024 2023
£ £
Trade debtors 6,240 -
Other debtors 1,823 3,461
8,063 3,461
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,784 10,497
Trade creditors 4,591 3,175
Taxation and social security costs 11,553 23,172
Other creditors 3,463 1,239
29,391 38,083
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 20,000 30,000
Director's loan account 138,174 134,083
158,174 164,083
8 Other information
KMSA Odedra Limited is a private company limited by shares and incorporated in England. Its registered office is:
Best One
40-42 The Fairway
Leicester
Leicestershire
LE2 6LN
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