Registered number
13239993
Spices of Kashmir UK Ltd
Filleted Accounts
31 March 2024
Spices of Kashmir UK Ltd
Registered number: 13239993
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 39,514 43,256
Current assets
Stocks 3,127 3,256
Debtors 4 31,530 1,000
Cash at bank and in hand 9,147 10,118
43,804 14,374
Creditors: amounts falling due within one year 5 (45,246) (51,372)
Net current liabilities (1,442) (36,998)
Net assets 38,072 6,258
Capital and reserves
Called up share capital 100 100
Profit and loss account 37,972 6,158
Shareholders' funds 38,072 6,258
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Tayyab Akhlaq
Director
Approved by the board on 30 December 2024
Spices of Kashmir UK Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance method
Fixture and fittings 15% reducing balance method
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 7
3 Tangible fixed assets
Fixture and fittings Plant and machinery Total
£ £ £
Cost
At 1 April 2023 56,353 1,792 58,145
Additions - 3,231 3,231
At 31 March 2024 56,353 5,023 61,376
Depreciation
At 1 April 2023 14,509 380 14,889
Charge for the year 6,277 696 6,973
At 31 March 2024 20,786 1,076 21,862
Net book value
At 31 March 2024 35,567 3,947 39,514
At 31 March 2023 41,844 1,412 43,256
4 Debtors 2024 2023
£ £
Trade debtors 117 -
Other Debtors 31,413 1,000
31,530 1,000
5 Creditors: amounts falling due within one year 2024 2023
£ £
VAT Payment 4,286 5,016
Other creditors 40,960 46,356
45,246 51,372
6 Related party transactions
During the year director provided an unsecured loan to the company i.e. £39,402.12 [Year 2023: 39,128] No interest is charged on the outstanding amount.
7 Other information
Spices of Kashmir UK Ltd is a private company limited by shares and incorporated in England. Its registered office is:
205 Seymour Grove
Manchester
M16 0FJ
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