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Registration number: 09654559

K & N Global Investments Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

K & N Global Investments Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

K & N Global Investments Ltd

Company Information

Directors

Mrs Nomagugu Nkala

Mr Khumbulani Nkala

Company secretary

Mrs Nomagugu Nkala

Registered office

60 Windsor Avenue
London
South West London
SW19 2RR

Accountants

K & N Accounting Ltd
60 Windsor Avenue
London
South West London
SW19 2RR

 

K & N Global Investments Ltd

(Registration number: 09654559)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

45,000

-

Other financial assets

5

308,476

224,476

 

353,476

224,476

Current assets

 

Debtors

6

-

123

Cash at bank and in hand

 

862

351

 

862

474

Creditors: Amounts falling due within one year

7

(3,138)

-

Net current (liabilities)/assets

 

(2,276)

474

Total assets less current liabilities

 

351,200

224,950

Creditors: Amounts falling due after more than one year

7

(40,347)

(20,036)

Net assets

 

310,853

204,914

Capital and reserves

 

Called up share capital

8

308,476

224,476

Retained earnings

2,377

(19,562)

Shareholders' funds

 

310,853

204,914

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 June 2024 and signed on its behalf by:
 

 

K & N Global Investments Ltd

(Registration number: 09654559)
Balance Sheet as at 31 December 2023

.........................................
Mrs Nomagugu Nkala
Company secretary and director

.........................................
Mr Khumbulani Nkala
Director

 

K & N Global Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
60 Windsor Avenue
London
South West London
SW19 2RR
England

These financial statements were authorised for issue by the Board on 30 June 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

K & N Global Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% Straighline

Plant & Machinery

25% Straighline

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

K & N Global Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

Additions

48,000

12,000

60,000

At 31 December 2023

48,000

12,000

60,000

Depreciation

Charge for the year

12,000

3,000

15,000

At 31 December 2023

12,000

3,000

15,000

Carrying amount

At 31 December 2023

36,000

9,000

45,000

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 January 2023

-

224,476

224,476

Additions

84,000

-

84,000

At 31 December 2023

84,000

224,476

308,476

Impairment

Carrying amount

At 31 December 2023

84,000

224,476

308,476

6

Debtors

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

3,138

-

 

K & N Global Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

40,347

20,036

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

308,476

308,476

1

1

       

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Other borrowings

40,347

20,036

10

Dividends

2023

2022

£

£

Final dividend of £56,000.00 (2022 - £Nil) per ordinary share

56,000

-