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Registered number: 13988013
Kaanthal Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
S & T Associates
68 Mottingham Lane
London
SE12 9AW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13988013
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 20,009 24,298
20,009 24,298
CURRENT ASSETS
Stocks 23,580 18,000
Debtors 5 17,886 18,125
Cash at bank and in hand 65,912 52,748
107,378 88,873
Creditors: Amounts Falling Due Within One Year 6 (101,942 ) (71,681 )
NET CURRENT ASSETS (LIABILITIES) 5,436 17,192
TOTAL ASSETS LESS CURRENT LIABILITIES 25,445 41,490
Creditors: Amounts Falling Due After More Than One Year 7 (27,601 ) (39,287 )
NET (LIABILITIES)/ASSETS (2,156 ) 2,203
CAPITAL AND RESERVES
Called up share capital 8 500 500
Profit and Loss Account (2,656 ) 1,703
SHAREHOLDERS' FUNDS (2,156) 2,203
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Gumanan Kanapathippillai
Director
18 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Kaanthal Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13988013 . The registered office is 84 Avondale Road, Bromley, BR1 4EZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
2.3. Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the period.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15%
Motor Vehicles 15%
Fixtures & Fittings 15%
2.5. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value, after marking due allowance for obsolete and slow moving items.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 3
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2023 1,483 12,600 14,503 28,586
As at 31 March 2024 1,483 12,600 14,503 28,586
Depreciation
As at 1 April 2023 222 1,890 2,176 4,288
Provided during the period 223 1,890 2,176 4,289
As at 31 March 2024 445 3,780 4,352 8,577
Net Book Value
As at 31 March 2024 1,038 8,820 10,151 20,009
As at 1 April 2023 1,261 10,710 12,327 24,298
5. Debtors
31 March 2024 31 March 2023
£ £
Due within one year
Prepayments and accrued income 3,386 3,625
Due after more than one year
Rent Deposit 14,500 14,500
17,886 18,125
6. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Trade creditors 860 595
Corporation tax 15,063 12,195
VAT 1,316 868
Other creditors (Lottery) 122 (210 )
Other creditors (Paypoint) - 82
Other creditors (Bus pass) 375 485
Other creditors (Amex) 4 3,288
Other creditors ( Capita) 9,503 3,040
Director's loan account 74,699 51,338
101,942 71,681
7. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 31 March 2023
£ £
Bank loans 27,601 39,287
Page 4
Page 5
8. Share Capital
31 March 2024 31 March 2023
£ £
Allotted, Called up and fully paid 500 500
Page 5