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Registered number: 10058483
Kush Academy Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Ejike Amadi & Co.
Contents
Page
Accountants' Report 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—5
Page 1
Accountants' Report
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the director in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's director for our work or for this report.
You have acknowledged on the statement of financial position as at year ended 31 March 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
10/05/2024
Ejike Amadi & Co.
Berkley HOUSE
18-24 High Street
Edgware
Edgware
HA8 7RP
Page 1
Page 2
Statement of Financial Position
Registered number: 10058483
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 36,220 10,603
36,220 10,603
CURRENT ASSETS
Debtors 5 30,169 -
Cash at bank and in hand 12,156 973
42,325 973
Creditors: Amounts Falling Due Within One Year 6 (1,205 ) -
NET CURRENT ASSETS (LIABILITIES) 41,120 973
TOTAL ASSETS LESS CURRENT LIABILITIES 77,340 11,576
Creditors: Amounts Falling Due After More Than One Year 7 (130,477 ) (169,781 )
NET LIABILITIES (53,137 ) (158,205 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Other reserves (59,260 ) (158,305 )
Income Statement 6,023 -
SHAREHOLDERS' FUNDS (53,137) (158,205)
Page 2
Page 3
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 her 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 Income Statement.
On behalf of the board
Mrs AISHA IDRIS MAHAMA
Director
10/05/2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Kush Academy Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10058483 . The registered office is 190-196 DEPTFORD HIGH STREET, DEPTFORD, LONDON, SE8 3PR.
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. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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 18
Motor Vehicles 18
Fixtures & Fittings 18
Computer Equipment 18
3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2023: 16)
16 16
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 6,500 9,350 9,699 4,500 30,049
Additions 6,350 12,674 7,028 5,188 31,240
As at 31 March 2024 12,850 22,024 16,727 9,688 61,289
Depreciation
As at 1 April 2023 4,206 6,051 6,277 2,912 19,446
Provided during the period 1,143 2,281 1,265 934 5,623
As at 31 March 2024 5,349 8,332 7,542 3,846 25,069
Net Book Value
As at 31 March 2024 7,501 13,692 9,185 5,842 36,220
As at 1 April 2023 2,294 3,299 3,422 1,588 10,603
Page 4
Page 5
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 19,100 -
Other debtors 7,881 -
26,981 -
Due after more than one year
Trade debtors 3,188 -
30,169 -
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Taxation and social security 1,205 -
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Trade creditors 23,118 73,592
Bank loans 12,986 20,986
Other creditors 94,373 75,203
130,477 169,781
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5