Registered number
07319926
Ka Wah Corporation Ltd
Filleted Accounts
31 July 2024
Ka Wah Corporation Ltd
Registered number: 07319926
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 22,500 26,250
Tangible assets 4 15,535 18,121
38,035 44,371
Current assets
Stocks 1,572 1,260
Debtors 5 1,372 665
Cash at bank and in hand 5,075 2,696
8,019 4,621
Creditors: amounts falling due within one year 6 (144,295) (137,598)
Net current liabilities (136,276) (132,977)
Net liabilities (98,241) (88,606)
Capital and reserves
Called up share capital 100 100
Profit and loss account (98,341) (88,706)
Shareholders' funds (98,241) (88,606)
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.
Oi Sim Chan
Director
Approved by the board on 25 April 2025
Ka Wah Corporation Ltd
Notes to the Accounts
for the year ended 31 July 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 5% at cost
Fixtures, fittings, tools and equipment over 5 years
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 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2023 75,000
At 31 July 2024 75,000
Amortisation
At 1 August 2023 48,750
Provided during the year 3,750
At 31 July 2024 52,500
Net book value
At 31 July 2024 22,500
At 31 July 2023 26,250
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2023 1,391 50,333 51,724
At 31 July 2024 1,391 50,333 51,724
Depreciation
At 1 August 2023 910 32,693 33,603
Charge for the year 70 2,516 2,586
At 31 July 2024 980 35,209 36,189
Net book value
At 31 July 2024 411 15,124 15,535
At 31 July 2023 481 17,640 18,121
5 Debtors 2024 2023
£ £
Other debtors 1,372 665
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 2,655 2,655
Taxation and social security costs 14,279 15,315
Other creditors 127,361 119,628
144,295 137,598
7 Other information
Ka Wah Corporation Ltd is a private company limited by shares and incorporated in England. Its registered office is:
2 Langley Crescent
Edgware
Middlesex
HA8 9SZ
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