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Registration number: 05678816

Konaland Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 March 2024

 

Konaland Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Abridged Financial Statements

5 to 7

 

Konaland Limited

Company Information

Director

Mr Moayad Al-Hanoush

Company secretary

Mr Moayad Al-Hanoush

Registered office

22 Stanbrook Road
Shirley
Solihull
West Midlands
B90 4UT

Accountants

Walker Hubble
5 Parsons Street
Dudley
West Midlands
DY1 1JJ

 

Konaland Limited

(Registration number: 05678816)
Abridged Balance Sheet as at 30 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

117,973

117,752

Current assets

 

Debtors

1,672

1,443

Cash at bank and in hand

 

2,276

3,413

 

3,948

4,856

Prepayments and accrued income

 

375

-

Creditors: Amounts falling due within one year

(62,388)

(62,048)

Net current liabilities

 

(58,065)

(57,192)

Total assets less current liabilities

 

59,908

60,560

Accruals and deferred income

 

(514)

(480)

Net assets

 

59,394

60,080

Capital and reserves

 

Called up share capital

5

100

100

Retained earnings

59,294

59,980

Shareholders' funds

 

59,394

60,080

For the financial year ending 30 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Konaland Limited

(Registration number: 05678816)
Abridged Balance Sheet as at 30 March 2024 (continued)

Approved and authorised by the director on 21 November 2024
 

.........................................
Mr Moayad Al-Hanoush
Company secretary and director

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Konaland Limited

Statement of Changes in Equity for the Year Ended 30 March 2024

Share capital
£

Retained earnings
£

Total
£

At 31 March 2023

100

59,980

60,080

Loss for the year

-

(686)

(686)

At 30 March 2024

100

59,294

59,394

Share capital
£

Retained earnings
£

Total
£

At 31 March 2022

100

61,315

61,415

Loss for the year

-

(1,335)

(1,335)

At 30 March 2023

100

59,980

60,080

 

Konaland Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 March 2024

1

General information

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

The address of its registered office is:
22 Stanbrook Road
Shirley
Solihull
West Midlands
B90 4UT

These financial statements were authorised for issue by the director on 21 November 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 abridged 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 abridged 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 deferred 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.

 

Konaland Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 March 2024 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Fixtures and Fittings

33.33% Straight Line

Land and Buildings

the tangible fixed assets estimated useful economic life exceeds 50 years

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Konaland Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 March 2024 (continued)

2

Accounting policies (continued)

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Total
£

Cost or valuation

At 31 March 2023

117,752

1,963

119,715

Additions

-

249

249

At 30 March 2024

117,752

2,212

119,964

Depreciation

At 31 March 2023

-

1,963

1,963

Charge for the year

-

28

28

At 30 March 2024

-

1,991

1,991

Carrying amount

At 30 March 2024

117,752

221

117,973

At 30 March 2023

117,752

-

117,752

Included within the net book value of land and buildings above is £117,752 (2023 - £117,752) in respect of long leasehold land and buildings.
 

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100