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Registration number: 09038213

Truestone KGS Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Truestone KGS Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Truestone KGS Limited

Company Information

Directors

PN Szkiler

B D Corley

Registered office

6th Floor
60 Gracechurch Street
London
EC3V 0HR

Accountants

Addicus Plus Limited
Chartered Certified Accountants4 The Axium Centre Dorchester Road
Lytchett Minster
Poole
Dorset
BH16 6FE

 

Truestone KGS Limited

(Registration number: 09038213)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

101,455

116,738

Creditors: Amounts falling due within one year

5

(478,408)

(488,589)

Net liabilities

 

(376,953)

(371,851)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(376,955)

(371,853)

Shareholders' deficit

 

(376,953)

(371,851)

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

Directors' 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 directors acknowledge their 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 January 2025 and signed on its behalf by:
 

PN Szkiler
Director

   
     
 

Truestone KGS Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
6th Floor
60 Gracechurch Street
London
EC3V 0HR

These financial statements were authorised for issue by the Board on 17 January 2025.

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 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 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.

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

Going concern

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

3

Staff numbers

The average number of persons employed by the company during the year was 0 (2023 - 0).

 

Truestone KGS Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Investments

Unlisted investments
£

Total
£

Fixed asset investments

Cost or valuation

At 1 May 2023

116,738

116,738

Fair value adjustments

99

99

Disposals

(15,382)

(15,382)

At 30 April 2024

101,455

101,455

Carrying amount

At 30 April 2024

101,455

101,455

Fixed asset investments revaluation

If fixed asset investments had not been revalued they would have been included at the cost of £303,193 (2023 - £318,575)

Fixed asset investments were valued on a fair value basis on 30 April 2024 by the directors.

The sole investment held by the company is an unlisted private equity investment in Microcredit Company Kemin Limited Liability Company ("MCC Kemin").

The principal activity of MCC Kemin is providing corporate and personal secured and unsecured micro-loans in national currency, Kyrgyz Soms. It prepares annual financial statements with a year end of 31 December and was established on 21 April 2014.

 

Truestone KGS Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

720

2,040

Amounts due to related parties

6

475,528

484,509

Accruals

 

2,160

2,040

 

478,408

488,589

6

Related party transactions

Loans from related parties

2024

Parent
£

Total
£

At start of period

484,509

484,509

Advanced

6,401

6,401

Repaid

(15,382)

(15,382)

At end of period

475,528

475,528

2023

Parent
£

Total
£

At start of period

483,797

483,797

Advanced

712

712

At end of period

484,509

484,509

Terms of loans from related parties

There are no repayment terms or interest charges on this debt.