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Company registration number: 12736321
Kulcha Express Global Ltd
Unaudited filleted financial statements
31 July 2024
Kulcha Express Global Ltd
Contents
Directors and other information
Director's report
Accountants report
Statement of financial position
Notes to the financial statements
Kulcha Express Global Ltd
Directors and other information
Director Palvinder Singh
Company number 12736321
Registered office 398 Farnham Road
Slough
SL2 1JD
Accountants MyGoTo Accountants Limited
Neal's Corner Suite 20
2 Bath Road
Hounslow
TW3 3HJ
Kulcha Express Global Ltd
Director's report
Year ended 31 July 2024
The director presents his report and the unaudited financial statements of the company for the year ended 31 July 2024.
Director
The director who served the company during the year was as follows:
Palvinder Singh
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 30 April 2025 and signed on behalf of the board by:
Palvinder Singh
Director
Kulcha Express Global Ltd
Report to the director on the preparation of the
unaudited statutory financial statements of Kulcha Express Global Ltd
Year ended 31 July 2024
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 July 2024 which comprise the statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
MyGoTo Accountants Limited
Neal's Corner Suite 20
2 Bath Road
Hounslow
TW3 3HJ
30 April 2025
Kulcha Express Global Ltd
Statement of financial position
31 July 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 216,591 197,983
Investments 6 729,005 101,150
_______ _______
945,596 299,133
Current assets
Stocks 45,000 -
Debtors 7 179,900 306,345
Investments 8 81,000 81,000
Cash at bank and in hand 11,686 286,890
_______ _______
317,586 674,235
Creditors: amounts falling due
within one year 9 ( 348,209) ( 85,849)
_______ _______
Net current (liabilities)/assets ( 30,623) 588,386
_______ _______
Total assets less current liabilities 914,973 887,519
Creditors: amounts falling due
after more than one year 10 ( 763,808) ( 744,519)
_______ _______
Net assets 151,165 143,000
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 151,065 142,900
_______ _______
Shareholder funds 151,165 143,000
_______ _______
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 April 2025 , and are signed on behalf of the board by:
Palvinder Singh
Director
Company registration number: 12736321
Kulcha Express Global Ltd
Notes to the financial statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 398 Farnham Road, Slough, SL2 1JD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year amounted to 15 (2023: 11 ).
The aggregate payroll costs incurred during the year were:
2024 2023
£ £
Wages and salaries 304,497 195,080
Social security costs 18,389 13,845
Other pension costs 1,793 1,503
_______ _______
324,679 210,428
_______ _______
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 August 2023 81,124 74,572 96,472 252,168
Additions - 61,000 - 61,000
_______ _______ _______ _______
At 31 July 2024 81,124 135,572 96,472 313,168
_______ _______ _______ _______
Depreciation
At 1 August 2023 18,857 18,643 16,685 54,185
Charge for the year 12,453 13,982 15,957 42,392
_______ _______ _______ _______
At 31 July 2024 31,310 32,625 32,642 96,577
_______ _______ _______ _______
Carrying amount
At 31 July 2024 49,814 102,947 63,830 216,591
_______ _______ _______ _______
At 31 July 2023 62,267 55,929 79,787 197,983
_______ _______ _______ _______
6. Investments
Other loans Total
£ £
Cost
At 1 August 2023 101,150 101,150
Additions 627,855 627,855
_______ _______
At 31 July 2024 729,005 729,005
_______ _______
Impairment
At 1 August 2023 and 31 July 2024 - -
_______ _______
Carrying amount
At 31 July 2024 729,005 729,005
_______ _______
At 31 July 2023 101,150 101,150
_______ _______
7. Debtors
2024 2023
£ £
Trade debtors 164,090 286,312
Other debtors 15,810 20,033
_______ _______
179,900 306,345
_______ _______
8. Investments
2024 2023
£ £
Other investments 81,000 81,000
_______ _______
9. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 45,911 -
Trade creditors 88,906 27,615
Corporation tax 2,712 -
Social security and other taxes 109,633 32,472
Other creditors 101,047 25,762
_______ _______
348,209 85,849
_______ _______
10. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 763,808 744,519
_______ _______