2023-09-012024-08-312024-08-31false05557510K SUPERSTORE 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K SUPERSTORE LTD

Registered Number
05557510
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

K SUPERSTORE LTD
Company Information
for the year from 1 September 2023 to 31 August 2024

Director

KARTAL, Imam

Company Secretary

KARTAL, Fatma

Registered Address

293 Green Lanes
London
N13 4XS

Registered Number

05557510 (England and Wales)
K SUPERSTORE LTD
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets51,08061,606
51,08061,606
Current assets
Stocks4250,500194,600
Debtors6,10010,144
Cash at bank and on hand87,780146,084
344,380350,828
Creditors amounts falling due within one year5(30,608)(63,046)
Net current assets (liabilities)313,772287,782
Total assets less current liabilities364,852349,388
Provisions for liabilities6(3,325)(4,921)
Net assets361,527344,467
Capital and reserves
Called up share capital40,00040,000
Profit and loss account321,527304,467
Shareholders' funds361,527344,467
The financial statements were approved and authorised for issue by the Director on 11 March 2025, and are signed on its behalf by:
KARTAL, Imam
Director
Registered Company No. 05557510
K SUPERSTORE LTD
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
K Superstore Ltd 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.
Statement of compliance
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 policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
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
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
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.
Goodwill
Goodwill amortised over useful life of five years.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Finance leases and hire purchase contracts
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.
Stocks and work in progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.Average number of employees

20242023
Average number of employees during the year2222
3.Intangible assets
4.Stocks

2024

2023

££
Finished goods250,500194,600
Total250,500194,600
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables12,26125,299
Taxation and social security18,17731,740
Other creditors1706,007
Total30,60863,046
6.Provisions for liabilities

2024

2023

££
Other provisions3,3254,921
Total3,3254,921