Lanka Kade (UK) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03994705

Lanka Kade (UK) Limited

Filleted Unaudited Financial Statements

31 December 2024

Lanka Kade (UK) Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Officers and professional advisers	1

Accountants report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

Lanka Kade (UK) Limited

Officers and Professional Advisers

The board of directors	Mrs D Soysa
	Mr U Soysa
	Mr H Soysa

Registered office	Unit C
	Riverside End
	Market Harborough
	Leics.
	LE16 7PU

Accountants	A Plus Accountants Limited
	Accountants
	10 Canberra House
	Corbygate Business Park
	Corby
	Northants
	NN17 5JG

Lanka Kade (UK) Limited

Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Lanka Kade (UK) Limited

Year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lanka Kade (UK) Limited for the year ended 31 December 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Lanka Kade (UK) Limited, as a body, in accordance with the terms of our engagement letter dated 12 October 2007. Our work has been undertaken solely to prepare for your approval the financial statements of Lanka Kade (UK) Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lanka Kade (UK) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Lanka Kade (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Lanka Kade (UK) Limited. You consider that Lanka Kade (UK) Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Lanka Kade (UK) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

A Plus Accountants Limited Accountants

10 Canberra House Corbygate Business Park Corby Northants NN17 5JG

29 September 2025

Lanka Kade (UK) Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		189,888	103,824

Current assets

Stocks		294,843	433,338
Debtors	6	166,297	170,395
Cash at bank and in hand		407,304	473,476
		---------	------------
		868,444	1,077,209

Creditors: amounts falling due within one year	7	107,896		124,638
		---------		------------
Net current assets			760,548	952,571
			---------	------------
Total assets less current liabilities			950,436	1,056,395

Provisions

Taxation including deferred tax	9,875	11,106
	---------	------------
Net assets	940,561	1,045,289
	---------	------------

Capital and reserves

Called up share capital	200	200
Profit and loss account	940,361	1,045,089
	---------	------------
Shareholders funds	940,561	1,045,289
	---------	------------

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 income and retained earnings has not been delivered.

For the year ending 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 financial statements for the year in question in accordance with section 476 ;

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

Lanka Kade (UK) Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 29 September 2025 , and are signed on behalf of the board by:

Mr Upul Soysa Director

Company registration number: 03994705

Lanka Kade (UK) Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit C, Riverside End, Market Harborough, Leics., LE16 7PU.

2. Statement of compliance

The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A small entities. There were no material departures from that standard.

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.

Revenue recognition

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 profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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:

Freehold property improvements	-	Straight line at various rates
Plant & Machinery	-	20% straight line
Fixtures, fittings and equipment	-	20% straight line
Motor vehicles	-	25% reducing balance

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 stock to its present location and condition.

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less. 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 statement of comprehensive income under administrative expenses. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution pension 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.

4. Particulars of employees

The average number of persons employed by the company during the year amounted to 13 (2023: 13 ).

5. Tangible assets

	Freehold property improvements	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 January 2024	112,559	53,093	103,378	15,913	284,943
Additions	94,103	1,097	1,077	–	96,277
Transfers	–	( 6,897)	6,897	–	–
	---------	--------	---------	--------	---------
At 31 December 2024	206,662	47,293	111,352	15,913	381,220
	---------	--------	---------	--------	---------
Depreciation
At 1 January 2024	26,168	41,672	97,836	15,443	181,119
Charge for the year	4,017	3,297	2,781	118	10,213
Transfers	–	( 7,194)	7,194	–	–
	---------	--------	---------	--------	---------
At 31 December 2024	30,185	37,775	107,811	15,561	191,332
	---------	--------	---------	--------	---------
Carrying amount
At 31 December 2024	176,477	9,518	3,541	352	189,888
	---------	--------	---------	--------	---------
At 31 December 2023	86,391	11,421	5,542	470	103,824
	---------	--------	---------	--------	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	59,363	61,298
Prepayments and accrued income	30,152	17,322
Corporation tax repayable	4,454	–
Other debtors	72,328	91,775
	---------	---------
	166,297	170,395
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	19,799	14,238
Accruals and deferred income	3,332	3,384
Corporation tax	–	11,780
Social security and other taxes	74,946	78,100
Director loan accounts	9,819	17,136
	---------	---------
	107,896	124,638
	---------	---------

8. Commitments under operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	42,000	42,000
Later than 1 year and not later than 5 years	156,100	168,000
Later than 5 years	–	30,100
	---------	---------
	198,100	240,100
	---------	---------

Yasso Limited is the immediate and ultimate controlling parent of Lanka Kade (UK) Limited . Lanka Kade (UK) Limited has entered into a ten year operating lease with Yasso Limited from 19 September 2019 to 18 September 2029. The annual rent payable will be reviewed after 5 years.

9. Related party transactions

The principal supplier of goods for resale is Lanka Kade Export (Private) Limited which is the business of Mr Upul Soysa and is based in Sri Lanka. During the year Lanka Kade Export (Private) Limited invoiced for purchases (including shopping costs) totalling £280,050 (2023: £440,753). There is no balance outstanding at the year end included within trade creditors (2023: £0). During the year net repayments were made from Lanka Kade Export (Private) Limited totalling £80,685 (2023: £51,213). A balance of £6,028 was written off and a balance of £94,103 was capitalised. As at the year end included within other debtors is a balance of £72,328 (2023: £91,775) owed to Lanka Kade Export (Private) Limited. The company has availed itself of the exemption contained within FRS 102 Section 33 Related Party Disclosures not to disclose details of transactions with fellow group entities.

10. Ultimate controlling party

The ultimate controlling party is Yasso Limited, a company registered in England and Wales.