Company Registration No. SC691245 (Scotland)
Koshi Group Limited
Unaudited accounts
for the year ended 31 March 2024
Koshi Group Limited
Unaudited accounts
Contents
Koshi Group Limited
Company Information
for the year ended 31 March 2024
Company Number
SC691245 (Scotland)
Registered Office
1 IMRIE PLACE
PENICUIK
EH26 8HY
SCOTLAND
Accountants
Accounting Solutions (UK) Ltd
85 Great Portland Street
First Floor
London
W1W 7LT
Koshi Group Limited
Statement of financial position
as at 31 March 2024
Tangible assets
63,254
77,528
Cash at bank and in hand
15,670
3,336
Creditors: amounts falling due within one year
(199,557)
(203,309)
Net current liabilities
(180,387)
(206,469)
Total assets less current liabilities
(117,133)
(128,941)
Creditors: amounts falling due after more than one year
(56,392)
-
Net liabilities
(173,525)
(128,941)
Called up share capital
10
10
Profit and loss account
(173,535)
(128,951)
Shareholders' funds
(173,525)
(128,941)
For the year ending 31 March 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 March 2025 and were signed on its behalf by
Basanta Kharel
Director
Company Registration No. SC691245
Koshi Group Limited
Notes to the Accounts
for the year ended 31 March 2024
Koshi Group Limited is a private company, limited by shares, registered in Scotland, registration number SC691245. The registered office is 1 IMRIE PLACE, PENICUIK, EH26 8HY, SCOTLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on reducing balance
Fixtures & fittings
20% on reducing balance
Computer equipment
20% on reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Koshi Group Limited
Notes to the Accounts
for the year ended 31 March 2024
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
43,171
72,286
-
115,457
Additions
1,040
-
500
1,540
At 31 March 2024
44,211
72,286
500
116,997
At 1 April 2023
12,218
25,711
-
37,929
Charge for the year
6,399
9,315
100
15,814
At 31 March 2024
18,617
35,026
100
53,743
At 31 March 2024
25,594
37,260
400
63,254
At 31 March 2023
30,953
46,575
-
77,528
Amounts falling due within one year
Accrued income and prepayments
-
1,328
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
11,196
Taxes and social security
1,709
3,089
Loans from directors
190,698
187,524
7
Creditors: amounts falling due after more than one year
2024
2023
8
Transactions with related parties
At the year end, the company owed £112,082 to its shareholders. The amount is interest free and is payable on demand.
Koshi Group Limited
Notes to the Accounts
for the year ended 31 March 2024
9
Average number of employees
During the year the average number of employees was 13 (2023: 10).