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Registered number: 08575409
KOKORO SVC LTD
Unaudited Financial Statements
For the Period 1 July 2023 to 30 April 2024
KPY PHILLIPS YOUNG LLP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08575409
30 April 2024 30 June 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 220,952 259,401
Investments 5 641,000 641,000
861,952 900,401
CURRENT ASSETS
Stocks 6 24,374 26,618
Debtors 7 60,530 56,165
Cash at bank and in hand 68,830 70,232
153,734 153,015
Creditors: Amounts Falling Due Within One Year 8 (192,041 ) (290,513 )
NET CURRENT ASSETS (LIABILITIES) (38,307 ) (137,498 )
TOTAL ASSETS LESS CURRENT LIABILITIES 823,645 762,903
Creditors: Amounts Falling Due After More Than One Year 9 (70,314 ) (70,105 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (45,667 ) (54,997 )
NET ASSETS 707,664 637,801
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 707,564 637,701
SHAREHOLDERS' FUNDS 707,664 637,801
Page 1
Page 2
For the period ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Profit and Loss Account.
On behalf of the board
Mr Jin Lee
Director
30/01/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
KOKORO SVC LTD is a private company, limited by shares, incorporated in England & Wales, registered number 08575409 . The registered office is 13 Approach Road, London, SW20 8BA.
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:
Leasehold Over lease term
Plant & Machinery 20% reducing balance
Fixtures & Fittings 20% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the period was: 33 (2023: 40)
33 40
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 July 2023 572,197 109,033 24,763 705,993
Additions - 949 - 949
As at 30 April 2024 572,197 109,982 24,763 706,942
Depreciation
As at 1 July 2023 357,166 73,146 16,280 446,592
Provided during the period 32,501 5,584 1,313 39,398
As at 30 April 2024 389,667 78,730 17,593 485,990
Net Book Value
As at 30 April 2024 182,530 31,252 7,170 220,952
As at 1 July 2023 215,031 35,887 8,483 259,401
5. Investments
Unlisted
£
Cost
As at 1 July 2023 641,000
As at 30 April 2024 641,000
Provision
As at 1 July 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 641,000
As at 1 July 2023 641,000
6. Stocks
30 April 2024 30 June 2023
£ £
Materials 16,266 17,648
Finished goods 8,108 8,970
24,374 26,618
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7. Debtors
30 April 2024 30 June 2023
£ £
Due within one year
Prepayments and accrued income 29,724 36,165
Other debtors 30,800 20,000
Net wages 6 -
60,530 56,165
8. Creditors: Amounts Falling Due Within One Year
30 April 2024 30 June 2023
£ £
Trade creditors 75,476 165,505
Bank loans and overdrafts 24,000 24,000
Corporation tax 28,402 10
Other taxes and social security - 18,214
VAT 44,544 30,809
Net wages - 14,579
Other creditors 19,400 37,162
Directors' loan accounts 219 234
192,041 290,513
9. Creditors: Amounts Falling Due After More Than One Year
30 April 2024 30 June 2023
£ £
Bank loans 26,000 46,000
Other taxes and social security 19,756 -
Accruals and deferred income 24,558 24,105
70,314 70,105
10. Share Capital
30 April 2024 30 June 2023
£ £
Allotted, Called up and fully paid 100 100
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