Company No: 05020364 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	4,541		5,345
Investments	5	84		84
		4,625		5,429
Current assets
Stocks	6	56,500		53,562
Debtors	7	1,538,063		1,332,482
Cash at bank and in hand	8	349,147		273,059
		1,943,710		1,659,103
Creditors: amounts falling due within one year	9	( 16,924)		( 136,953)
Net current assets		1,926,786		1,522,150
Total assets less current liabilities		1,931,411		1,527,579
Provision for liabilities	10	( 1,130)		( 1,334)
Net assets		1,930,281		1,526,245
Capital and reserves
Called-up share capital	11	100		100
Profit and loss account		1,930,181		1,526,145
Total shareholders' funds		1,930,281		1,526,245

For the financial year ending 31 March 2025 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 financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Kusan Accessories Limited (registered number: 05020364) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Kurt Jurgen Fritzsch Director

23 December 2025

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Kusan Accessories Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

10 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	4		4

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2024	350,000		350,000
At 31 March 2025	350,000		350,000
Accumulated amortisation
At 01 April 2024	350,000		350,000
At 31 March 2025	350,000		350,000
Net book value
At 31 March 2025	0		0
At 31 March 2024	0		0

4. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 April 2024	25,074		25,074
At 31 March 2025	25,074		25,074
Accumulated depreciation
At 01 April 2024	19,729		19,729
Charge for the financial year	804		804
At 31 March 2025	20,533		20,533
Net book value
At 31 March 2025	4,541		4,541
At 31 March 2024	5,345		5,345

5. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 April 2024	84
At 31 March 2025	84
Carrying value at 31 March 2025	84
Carrying value at 31 March 2024	84

6. Stocks

	2025		2024
	£		£
Stocks	56,500		53,562

7. Debtors

	2025		2024
	£		£
Trade debtors	15,082		9,316
Amounts owed by related parties	1,272,977		1,312,558
Other debtors	250,004		10,608
	1,538,063		1,332,482

Other debtors include £248,665 owed by the director. This amount is unsecured and repayable on demand. Interest is charged at the official rate of interest.

8. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	349,147		273,059

9. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	2,968		5,555
Amounts owed to group undertakings	0		126,170
Taxation and social security	8,453		663
Other creditors	5,503		4,565
	16,924		136,953

10. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 1,334)		( 1,301)
Credited/(charged) to the Statement of Income and Retained Earnings	204		( 33)
At the end of financial year	( 1,130)		( 1,334)

The deferred taxation balance is made up as follows:

	2025		2024
	£		£
Accelerated capital allowances	( 1,136)		( 1,337)
Other timing differences	6		3
	( 1,130)		( 1,334)

11. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100