Registered number
10764889
KOLEKSIYON UNITED LTD
Filleted Accounts
31 March 2024
KOLEKSIYON UNITED LTD
Registered number: 10764889
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,796 2,190
Current assets
Stocks 895 1,863
Debtors 4 18,866 20,162
Cash at bank and in hand 509 5,244
20,270 27,269
Creditors: amounts falling due within one year 5 (52,617) (39,187)
Net current liabilities (32,347) (11,918)
Net liabilities (30,551) (9,728)
Capital and reserves
Called up share capital 100 100
Profit and loss account (30,651) (9,828)
Shareholder's funds (30,551) (9,728)
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 member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Ayse Malhan
Director
Approved by the board on 26 November 2024
KOLEKSIYON UNITED LTD
Notes to the Accounts
for the year ended 31 March 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.
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, as follows:
Fixtures, fittings, tools and equipment 18% per anuum (reducing balance method).
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A corporation tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A corporation tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.Corporation tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 2,649
At 31 March 2024 2,649
Depreciation
At 1 April 2023 459
Charge for the year 394
At 31 March 2024 853
Net book value
At 31 March 2024 1,796
At 31 March 2023 2,190
4 Debtors 2024 2023
£ £
Trade debtors 18,866 20,162
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 35,250 34,378
Taxation and social security costs (3) (1,060)
Other creditors 17,370 5,869
52,617 39,187
6 Other information
KOLEKSIYON UNITED LTD is a private company limited by shares and incorporated in England. Its registered office is:
The 1840
St George’s Gardens
17 Vernon House
1 Holt Gardens
SW17 7FX
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