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REGISTERED NUMBER: 09511341 (England and Wales)










KANDOLA RETAIL LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






KANDOLA RETAIL LTD (REGISTERED NUMBER: 09511341)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KANDOLA RETAIL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr M Singh
Mr R Kaur
Mr K S Kandola





SECRETARY:





REGISTERED OFFICE: 12 Whitney Drive
Stevenage,
Hertfordshire
SG1 4BQ





REGISTERED NUMBER: 09511341 (England and Wales)





ACCOUNTANTS: Shah & Co (Accountants) Ltd
Chartered Certified Accountants
Cash's Business Centre
1st Floor
228 Widdrington Road
Coventry
West Midlands
CV1 4PB

KANDOLA RETAIL LTD (REGISTERED NUMBER: 09511341)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 6,750 13,500
Tangible assets 5 132,403 138,192
139,153 151,692

CURRENT ASSETS
Stocks 216,825 209,130
Cash at bank and in hand 123,635 130,858
340,460 339,988
CREDITORS
Amounts falling due within one year 6 (239,946 ) (241,454 )
NET CURRENT ASSETS 100,514 98,534
TOTAL ASSETS LESS CURRENT
LIABILITIES

239,667

250,226

CREDITORS
Amounts falling due after more than one
year

7

(23,333

)

(33,266

)
NET ASSETS 216,334 216,960

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 216,234 216,860
216,334 216,960

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

KANDOLA RETAIL LTD (REGISTERED NUMBER: 09511341)

BALANCE SHEET - continued
31 MARCH 2024


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 Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:





Mr M Singh - Director


KANDOLA RETAIL LTD (REGISTERED NUMBER: 09511341)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Kandola Retail 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.

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, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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 at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

KANDOLA RETAIL LTD (REGISTERED NUMBER: 09511341)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 67,500
AMORTISATION
At 1 April 2023 54,000
Charge for year 6,750
At 31 March 2024 60,750
NET BOOK VALUE
At 31 March 2024 6,750
At 31 March 2023 13,500

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 81,500 104,810 186,310
DEPRECIATION
At 1 April 2023 - 48,118 48,118
Charge for year - 5,789 5,789
At 31 March 2024 - 53,907 53,907
NET BOOK VALUE
At 31 March 2024 81,500 50,903 132,403
At 31 March 2023 81,500 56,692 138,192

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 881 -
Trade creditors 21,957 14,695
Taxation and social security 20,812 22,063
Other creditors 196,296 204,696
239,946 241,454

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 23,333 33,266

KANDOLA RETAIL LTD (REGISTERED NUMBER: 09511341)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.3.24 31.3.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Long term Bank Loan 23,333 33,266

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

In other creditors, amount owed to the directors was £194,296 (2022: £202,696). The monies are non-interest bearing and have no fixed rate of repayment.