Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.32023-05-05falseNo description of principal activitytruetruefalse 14850530 2023-05-04 14850530 2023-05-05 2024-05-31 14850530 2022-05-05 2023-05-04 14850530 2024-05-31 14850530 c:Director1 2023-05-05 2024-05-31 14850530 d:CurrentFinancialInstruments 2024-05-31 14850530 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 14850530 d:ShareCapital 2024-05-31 14850530 d:RetainedEarningsAccumulatedLosses 2024-05-31 14850530 c:OrdinaryShareClass1 2023-05-05 2024-05-31 14850530 c:OrdinaryShareClass1 2024-05-31 14850530 c:FRS102 2023-05-05 2024-05-31 14850530 c:AuditExempt-NoAccountantsReport 2023-05-05 2024-05-31 14850530 c:FullAccounts 2023-05-05 2024-05-31 14850530 c:PrivateLimitedCompanyLtd 2023-05-05 2024-05-31 14850530 e:PoundSterling 2023-05-05 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14850530









KAMS CARS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MAY 2024

 
KAMS CARS LIMITED
REGISTERED NUMBER: 14850530

BALANCE SHEET
AS AT 31 MAY 2024

2024
Note
£

  

Current assets
  

Stocks
  
73,841

Debtors: amounts falling due within one year
 4 
25,903

Cash at bank and in hand
 5 
71,390

  
171,134

Creditors: amounts falling due within one year
 6 
(156,562)

Net current assets
  
 
 
14,572

Total assets less current liabilities
  
14,572

  

Net assets
  
14,572


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
14,472

  
14,572


Page 1

 
KAMS CARS LIMITED
REGISTERED NUMBER: 14850530
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 June 2025.




Mrs T Chauhan
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
KAMS CARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

1.


General information

Kams Cars Limited is a private company limited by shares and is registered in England and Wales. The address of its registered office is Aston House, Cornwall Avenue, London, England, N3 1LF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 3

 
KAMS CARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are
Page 4

 
KAMS CARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

2024
£

Wages and salaries
13,258

13,258


The average monthly number of employees, including directors, during the period was 3.


4.


Debtors

2024
£


Trade debtors
16,210

Other debtors
7,797

Prepayments and accrued income
1,896

25,903


Page 5

 
KAMS CARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

5.


Cash and cash equivalents

2024
£

Cash at bank and in hand
71,390

Less: bank overdrafts
(805)

70,585



6.


Creditors: Amounts falling due within one year

2024
£

Bank overdrafts
805

Trade creditors
112,643

Corporation tax
4,176

Other taxation and social security
845

Other creditors
36,593

Accruals and deferred income
1,500

156,562



7.


Share capital

2024
£
Allotted, called up and fully paid


100 ordinary shares of £1.00 each
100


On incorporation 100 ordinary shares of £1.00 each were issued at par to constitute the initial cash flow.

 
Page 6