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Registered number: 15174318
Kristy M Chan Ltd
Unaudited Financial Statements
For the Period 29 September 2023 to 30 September 2024
Goldwyns London LLP
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—3
Page 1
Statement of Financial Position
Registered number: 15174318
30 September 2024
Notes £ £
CURRENT ASSETS
Debtors 4 293
Cash at bank and in hand 95,428
95,721
Creditors: Amounts Falling Due Within One Year 5 (65,455 )
NET CURRENT ASSETS (LIABILITIES) 30,266
TOTAL ASSETS LESS CURRENT LIABILITIES 30,266
NET ASSETS 30,266
CAPITAL AND RESERVES
Called up share capital 6 1
Income Statement 30,265
SHAREHOLDERS' FUNDS 30,266
For the period ending 30 September 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
Miss K M Chan
Director
17/12/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Kristy M Chan Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 15174318 . The registered office is 2 Times Square, London, E1 8GD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements are 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. The financial statements has been prepared under the historical cost convention.
These financial statements for the period ended 30 September 2024 are the first financial statements of Kristy M Chan Ltd prepared in accordance with FRS 102 (Section 1A), The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of adoption to FRS 102 (Section 1A) was 29 September 2023.
The financial statements are prepared in UK sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.
The principle accounting policies adopted are set below.
2.2. Going Concern Disclosure
The director has considered the prospect of the business for the next twelve months and beyond and has arrived at a reasonable expectation the company will continue to meet its obligations as they fall due. The director has also pledged her financial support to assist with this if required. On this basis, the director will continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it related 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 statement o financial position date.
2.6. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
2.7. Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.8. Critical Accounting Judgements And Key Sources of Estimation Uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Accrued Expenditure :
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers. These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end.
Page 2
Page 3
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1
1
4. Debtors
30 September 2024
£
Due within one year
VAT Recoverable 293
5. Creditors: Amounts Falling Due Within One Year
30 September 2024
£
Corporation tax 7,189
Accruals and deferred income 1,500
Director's loan account 56,766
65,455
6. Share Capital
30 September 2024
£
Allotted, Called up and fully paid 1
During the period, the company issued 1 Ordinary share for the nominal value of £1 per share. As at 30 September 2024 there are 1 Ordinary share in issue.
7. Related Party Transactions
As at the period-end, the directors' loan account balance of Miss K M Chan, the sole director and shareholder of the company was £56,766. This amount is a current liability, interest free and repayable on demand.
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