| Registered number: 02372217 | ||||||||
| FOR THE YEAR ENDED 31/08/2024 | ||||||||
| Prepared By: | ||||||||
| Arundales | ||||||||
| Chartered Accountants | ||||||||
| Stowe House | ||||||||
| 1688 High Street | ||||||||
| Knowle | ||||||||
| West Midlands | ||||||||
| B93 0LY | ||||||||
| Kaika Tech Ltd | ||||||||
| ACCOUNTS | ||||||||
| FOR THE YEAR ENDED 31/08/2024 | ||||||||
| DIRECTORS | ||||||||
| REGISTERED OFFICE | ||||||||
| West Midlands | ||||||||
| COMPANY DETAILS | ||||||||
| Private company limited by shares registered in EW - England and Wales, registered number 02372217 | ||||||||
| ACCOUNTANTS | ||||||||
| Arundales | ||||||||
| Chartered Accountants | ||||||||
| Stowe House | ||||||||
| 1688 High Street | ||||||||
| Knowle | ||||||||
| West Midlands | ||||||||
| B93 0LY | ||||||||
| Kaika Tech Ltd | ||||||||
| ACCOUNTS | ||||||||
| FOR THEYEARENDED31/08/2024 | ||||||||
| CONTENTS | ||||||||
| Page | ||||||||
| Directors' Report | - | |||||||
| Accountants' Report | - | |||||||
| Statement Of Comprehensive Income | - | |||||||
| Balance Sheet | 3 | |||||||
| Notes To The Accounts | 4 | |||||||
| The following do not form part of the statutory financial statements: | ||||||||
| Trading And Profit And Loss Account | - | |||||||
| Profit And Loss Account Summaries | - | |||||||
| Kaika Tech Ltd | ||||||||
| BALANCE SHEET AT | ||||||||||
| 2024 | 2023 | |||||||||
| Notes | £ | £ | ||||||||
| FIXED ASSETS | ||||||||||
| Tangible assets | 3 | |||||||||
| CURRENT ASSETS | ||||||||||
| Stock | ||||||||||
| Debtors | 5 | |||||||||
| Cash at bank and in hand | ||||||||||
| 459,108 | 531,378 | |||||||||
| CREDITORS: Amounts falling due within one year | 6 | |||||||||
| NET CURRENT ASSETS | 259,892 | |||||||||
| TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
| CREDITORS: Amounts falling due after more than one year | 7 | 7,500 | 17,500 | |||||||
| PROVISIONS FOR LIABILITIES AND CHARGES | 8 | |||||||||
| NET ASSETS | ||||||||||
| CAPITAL AND RESERVES | ||||||||||
| Called up share capital | 9 | |||||||||
| Profit and loss account | 213,250 | 216,628 | ||||||||
| SHAREHOLDERS' FUNDS | ||||||||||
| Approved by the board on | ||||||||||
| ............................. | ||||||||||
| Director | ||||||||||
| Kaika Tech Ltd | ||||||||
| NOTES TO THE ACCOUNTS | ||||||||||
| FOR THE YEAR ENDED 31/08/2024 | ||||||||||
| 1. ACCOUNTING POLICIES |
| 1a. General information and basis of preparation | ||||||||
| The principle activity of the company is the provision of IT consultancy, support and hardware. | ||||||||
| The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. | ||||||||
| 1b. Tangible fixed assets | ||||||||
| Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: | ||||||||
| Fixtures, fittings and equipment | straight line20% | |||||||
| 1c. Taxation | ||||||||
| Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. | ||||||||
| Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. | ||||||||
| Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset. | ||||||||
| Kaika Tech Ltd | ||||||||
| 1d. Turnover | ||||||||
| Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: | ||||||||
| Sale of goods - Turnover from the sale of computer equipment, and other related products is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on collection or dispatch of the goods. | ||||||||
| Rendering of services - When the outcome of a transaction can be estimated reliably, turnover from services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to director's estimate. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. | ||||||||
| 1e. Inventories | ||||||||
| Inventories are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. | ||||||||
| 1k. Debtors And Creditors Receivable Payable Within One Year | ||||||||
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. | ||||||||
| 1g. Loans And Borrowings | ||||||||
| Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. | ||||||||
| 1h. Impairment | ||||||||
| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. | ||||||||
| 1i. Provisions | ||||||||
| Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. | ||||||||
| 1j. Employee Benefits | ||||||||
| When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. | ||||||||
| The company operates a defined contribution plan for the benefit of its directors. Contributions are expensed as they become payable. | ||||||||
| Kaika Tech Ltd | ||||||||
| 1k. Debtors And Creditors Receivable Payable Within One Year | ||||||||
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. | ||||||||
| 1l. Leases | ||||||||
| Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors. | ||||||||
| Rentals paid under operating leases are charged to the profit and loss account as incurred. | ||||||||
| 2. EMPLOYEES | ||||||
| 2024 | 2023 | |||||
| No. | No. | |||||
| Average number of employees | 8 | |||||
| 3. TANGIBLE FIXED ASSETS | ||||
| Fixtures, | ||||
| fittings and equipment | Total | |||
| £ | £ | |||
| Cost | ||||
| At 01/09/2023 | 94,256 | 94,256 | ||
| Additions | 2,556 | 2,556 | ||
| At 31/08/2024 | 96,812 | 96,812 | ||
| Depreciation | ||||
| At 01/09/2023 | 75,982 | 75,982 | ||
| For the year | 5,380 | 5,380 | ||
| At 31/08/2024 | 81,362 | 81,362 | ||
| Net Book Amounts | ||||
| At 31/08/2024 | 15,450 | |||
| At 31/08/2023 | 18,274 | |||
| 4. STOCK | 2024 | 2023 | ||||
| £ | £ | |||||
| Stock comprises: | ||||||
| Stock | ||||||
| Kaika Tech Ltd | ||||||||
| 5. DEBTORS | 2024 | 2023 | ||||||
| £ | £ | |||||||
| Amounts falling due within one year | ||||||||
| Trade debtors | 215,919 | 346,737 | ||||||
| Prepayments | 6,165 | 2,099 | ||||||
| 222,084 | 348,836 | |||||||
| 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
| 2024 | 2023 | |||||||
| £ | £ | |||||||
| UK corporation tax | 18,005 | 14,560 | ||||||
| Other tax | 31,743 | 38,465 | ||||||
| Bank loan | 10,000 | 10,000 | ||||||
| Trade creditors | 136,535 | 184,363 | ||||||
| Other creditors | 10,682 | 9,853 | ||||||
| Accruals | 3,244 | 14,245 | ||||||
| 210,209 | 271,486 | |||||||
| 7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
| 2024 | 2023 | |||||||
| £ | £ | |||||||
| Bank loan | 7,500 | 17,500 | ||||||
| 7,500 | 17,500 | |||||||
| 8. PROVISIONS FOR LIABILITIES | 2024 | 2023 | ||||||
| £ | £ | |||||||
| Deferred taxation | 3,399 | 3,838 | ||||||
| 3,399 | 3,838 | |||||||
| Kaika Tech Ltd | ||||||||
| 9. SHARE CAPITAL | 2024 | 2023 | ||||||
| £ | £ | |||||||
| Allotted, issued and fully paid: | ||||||||
| 40200 | 40200 | |||||||
| 40,200 | 40,200 | |||||||