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REGISTERED NUMBER: 11224081 (England and Wales)















KOTO CARD LIMITED

Report of the Director and

Unaudited Financial Statements for the Year Ended 29 February 2024






KOTO CARD LIMITED (REGISTERED NUMBER: 11224081)






Contents of the Financial Statements
for the year ended 29 February 2024




Page

Company Information 1

Report of the Director 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


KOTO CARD LIMITED

Company Information
for the year ended 29 February 2024







DIRECTOR: M Rogalsky





REGISTERED OFFICE: Nightingale House
46-48 East Street
Epsom
Surrey
KT17 1HQ





REGISTERED NUMBER: 11224081 (England and Wales)





ACCOUNTANTS: Xeinadin
Nightingale House
46-48 East Street
Epsom
Surrey
KT17 1HQ

KOTO CARD LIMITED (REGISTERED NUMBER: 11224081)

Report of the Director
for the year ended 29 February 2024

The director presents his report with the financial statements of the company for the year ended 29 February 2024.

DIRECTOR
M Rogalsky held office during the whole of the period from 1 March 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





M Rogalsky - Director


27 November 2024

KOTO CARD LIMITED (REGISTERED NUMBER: 11224081)

Income Statement
for the year ended 29 February 2024

2024 2023
£    £   

TURNOVER 429,502 750,443

Cost of sales 681,768 1,644,456
GROSS LOSS (252,266 ) (894,013 )

Administrative expenses 403,973 890,743
(656,239 ) (1,784,756 )

Other operating income 4,541 580
OPERATING LOSS (651,698 ) (1,784,176 )

Interest receivable and similar income 200 27
LOSS BEFORE TAXATION (651,498 ) (1,784,149 )

Tax on loss - -
LOSS FOR THE FINANCIAL YEAR (651,498 ) (1,784,149 )

KOTO CARD LIMITED (REGISTERED NUMBER: 11224081)

Balance Sheet
29 February 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 5 650,679 1,438,306
Cash at bank 166,680 57,652
817,359 1,495,958
CREDITORS
Amounts falling due within one year 6 476,377 503,478
NET CURRENT ASSETS 340,982 992,480
TOTAL ASSETS LESS CURRENT
LIABILITIES

340,982

992,480

CAPITAL AND RESERVES
Called up share capital 10,310 10,310
Share premium 8,335,013 8,335,013
Retained earnings (8,004,341 ) (7,352,843 )
SHAREHOLDERS' FUNDS 340,982 992,480

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 27 November 2024 and were signed by:





M Rogalsky - Director


KOTO CARD LIMITED (REGISTERED NUMBER: 11224081)

Notes to the Financial Statements
for the year ended 29 February 2024

1. STATUTORY INFORMATION

Koto Card Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention.

In November 2023 a decision was made to close the business to new customers and begin a process to move existing customers to a new provider.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

FINANCIAL INSTRUMENTS
Financial instruments are classified and accounted for, according to the substance of the contractual agreement as either financial assets, financial liabilities or equity instruments.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 7 ) .

KOTO CARD LIMITED (REGISTERED NUMBER: 11224081)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 650,679 1,438,306

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 206,328 222,906
Taxation and social security 33,257 45,166
Other creditors 236,792 235,406
476,377 503,478