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REGISTERED NUMBER: 04718873 (England and Wales)















Unaudited Financial Statements For The Year Ended 30 April 2024

for

KAMS PALACE LIMITED

KAMS PALACE LIMITED (Registered number: 04718873)






Contents of the Financial Statements
For The Year Ended 30 April 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


KAMS PALACE LIMITED

Company Information
For The Year Ended 30 April 2024







DIRECTOR: K H NG





SECRETARY: O NG





REGISTERED OFFICE: 1 Bridge Road
Park Gate
Southampton
Hampshire
SO31 7GD





REGISTERED NUMBER: 04718873 (England and Wales)





ACCOUNTANTS: Euro Ashfords LLP
First Floor Ashford House
100 College Road
Harrow
Middlesex
HA1 1BQ

KAMS PALACE LIMITED (Registered number: 04718873)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 27,727 36,220
27,727 36,220

CURRENT ASSETS
Stocks 71,000 71,000
Cash at bank and in hand 21,963 12,402
92,963 83,402
CREDITORS
Amounts falling due within one year 6 197,136 198,072
NET CURRENT LIABILITIES (104,173 ) (114,670 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(76,446

)

(78,450

)

CREDITORS
Amounts falling due after more than one
year

7

16,084

23,113
NET LIABILITIES (92,530 ) (101,563 )

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings (92,533 ) (101,566 )
SHAREHOLDERS' FUNDS (92,530 ) (101,563 )

KAMS PALACE LIMITED (Registered number: 04718873)

Balance Sheet - continued
30 April 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 January 2025 and were signed by:





K H NG - Director


KAMS PALACE LIMITED (Registered number: 04718873)

Notes to the Financial Statements
For The Year Ended 30 April 2024

1. STATUTORY INFORMATION

KAMS PALACE 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 (£).


KAMS PALACE LIMITED is a private company, limited by shares, registered in England
and Wales. The company's registered number and registered office address are as below:

Registered number: 04718873

Registered office: 1 Bridge Road
Park Gate
Southampton
Hampshire
SO31 7GD

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

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

Goodwill
Goodwill representing the excess of the purchase price over the fair value of the net assets of undertakings acquired is capitalised in the balance sheet and is amortised by equal annual instalments over the expected useful economic life of 15 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided on all tangible fixed assets at rates calculated to write off the full cost or valuation less estimated residual value of each asset over its estimated useful life. Fixed assets purchased at the last week of the year are not depreciated.The principal rates in use are:

Motor Vehicles: 20% Straight Line Method
Equipment, fixtures and fittings: 25% Reducing Balance Method

KAMS PALACE LIMITED (Registered number: 04718873)

Notes to the Financial Statements - continued
For The Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stock and work in progress is valued at the lower of cost and estimated net realisable value.

Cost of raw materials is determined on the first in and first out basis. In the case of work in progress and finished goods, cost includes all direct expenditure and production overheads based on the normal level of activity. Net realisable value is the price at which the stock can be released in the normal course of business, less further costs to completion of sale.

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.

Going concern
The director has prepared the accounts on going concern basis as a result of continuous director's support. The director will not withdraw their financial support from the company for the ensuing year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 350,000
AMORTISATION
At 1 May 2023
and 30 April 2024 350,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

KAMS PALACE LIMITED (Registered number: 04718873)

Notes to the Financial Statements - continued
For The Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023 260,754 10,788 13,940 285,482
Additions 549 - 200 749
At 30 April 2024 261,303 10,788 14,140 286,231
DEPRECIATION
At 1 May 2023 235,035 10,788 3,439 249,262
Charge for year 6,567 - 2,675 9,242
At 30 April 2024 241,602 10,788 6,114 258,504
NET BOOK VALUE
At 30 April 2024 19,701 - 8,026 27,727
At 30 April 2023 25,719 - 10,501 36,220

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 11,689 11,689
Trade creditors 6,733 (1 )
Tax 20,584 19,829
Social security and other taxes 21,653 15,557
Pension obligation 2,646 1,898
VAT 87,814 138,301
Directors' current accounts 33,227 607
Accrued expenses 12,790 10,192
197,136 198,072

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
BBL loan >1 Year 12,647 23,113
Capify Loan 3,437 -
16,084 23,113

KAMS PALACE LIMITED (Registered number: 04718873)

Notes to the Financial Statements - continued
For The Year Ended 30 April 2024

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
K H NG
Balance outstanding at start of year (606 ) -
Amounts advanced 250,179 422,432
Amounts repaid (282,800 ) (423,038 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (33,227 ) (606 )

9. ULTIMATE CONTROLLING PARTY

At the balance sheet date Mr K H NG owned a 100% shareholding in Kams Palace Ltd. Therefore, he is the ultimate controlling party.