Registrar

Registration number: 10341660

Kuanza Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 8

Kuanza Ltd

Company Information

Directors

B Beach J Gailani S J Lescrauwaet

Registered office

9 Perseverance Works Kingsland Road London E2 8DD

Bankers

Santander Bank Plc 2 Triton Square Regent's Place London NW1 3AN

Accountants

Lambert Chapman LLP Chartered accountants3 Warners Mill Silks Way Braintree Essex CM7 3GB

Kuanza Ltd

(Registration number: 10341660)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	50,468	63,753
Tangible assets	5	3,309	7,396
		53,777	71,149
Current assets
Stocks	6	83,711	139,054
Debtors	7	15,901	12,314
Cash at bank and in hand		13,229	12,171
		112,841	163,539
Creditors: Amounts falling due within one year	8	(6,763)	(56,132)
Net current assets		106,078	107,407
Total assets less current liabilities		159,855	178,556
Creditors: Amounts falling due after more than one year	8	-	(160,000)
Net assets		159,855	18,556
Capital and reserves
Called up share capital	9	22,043	21,451
Share premium reserve		663,462	604,056
Retained earnings		(525,650)	(606,951)
Shareholders' funds		159,855	18,556

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 September 2025 and signed on its behalf by:
 

B Beach
Director

Kuanza Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is: 9 Perseverance Works, Kingsland Road, London, E2 8DD, England.

These financial statements were authorised for issue by the Board on 10 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Going concern
The Company was correctly classified as a going concern at the balance sheet date. Please see post balance sheet events note (12) for further information.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Kuanza Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% straight line
Computer equipment	50% straight line

Intangible assets

Intangible assets are stated in the statement of financial position at cost, less any subsequent accumulated amortisation. This comprises capitalised costs incurred for the branding costs and development of Ghana Gold. The anticipated useful life of the brand is ten years from the date the new chocolate bar was released, being 1st October 2022.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Brand assets development costs	10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Kuanza Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

Kuanza Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Intangible assets

	Brand Assets Development Costs	Total £
Cost or valuation
At 1 January 2024	132,856	132,856
At 31 December 2024	132,856	132,856
Amortisation
At 1 January 2024	69,103	69,103
Amortisation charge	13,285	13,285
At 31 December 2024	82,388	82,388
Carrying amount
At 31 December 2024	50,468	50,468
At 31 December 2023	63,753	63,753

5	Tangible assets

	Computer equipment  £	Plant and machinery £	Total £
Cost or valuation
At 1 January 2024	793	21,767	22,560
At 31 December 2024	793	21,767	22,560
Depreciation
At 1 January 2024	793	14,371	15,164
Charge for the year	-	4,087	4,087
At 31 December 2024	793	18,458	19,251
Carrying amount
At 31 December 2024	-	3,309	3,309
At 31 December 2023	-	7,396	7,396

6

Stocks

	2024 £	2023 £
Stock	83,711	139,054

Kuanza Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Debtors

	2024 £	2023 £
Trade debtors	14,845	10,005
Prepayments	735	437
Other debtors	321	1,872
	15,901	12,314

8

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	10	-	19,762
Trade creditors		3,656	31,519
Accruals and deferred income		3,001	4,572
Other creditors		106	279
		6,763	56,132

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	10	-	160,000

Kuanza Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £0.10 each	220,429	22,043	214,512	21,451

10	Loans and borrowings

Current loans and borrowings

	2024 £	2023 £
Bank overdrafts	-	19,762

Non-current loans and borrowings

	2024 £	2023 £
Other borrowings	-	160,000

11	Exceptional items

During the year an unsecured loan with a third party was written off amounting to £160,000 (2023 - nil).

12	Non adjusting events after the financial period

Due to recent business challenges, the Company cannot continue operations without significant financial investments. As a result, the Directors agreed to sell the remaining stock in Q1 - Q3 2025. Rather than windup the Company following the sale of stock in 2025, the Company will remain open to pursue strategic partnerships or the sale of assets. This effort has the dual purpose of continuing the Company mission while potentially reaslising value for investors. While efforts to realise value from company assets will be made, there is only a small market for speciality chocolate equipment and associated IP. If the Company are not successful in selling assets, it is anticipated that the board of Directors will propose winding up in 2026.