| |
|
£ |
2025
£ |
|
£ |
2024
£ |
| Fixed assets |
|
|
99,442 |
|
|
77,742 |
| Current assets |
|
251,240 |
|
|
187,126 |
|
| Creditors: amount falling due within one year |
|
(1,444,456) |
|
|
(1,306,116) |
|
|
Net current assets/(liabilities)
|
|
|
(1,193,216) |
|
|
(1,118,990) |
|
Total assets less current liabilities
|
|
|
(1,093,774) |
|
|
(1,041,248) |
| Creditors: amount falling due after more than one year |
|
|
(15,377) |
|
|
(21,521) |
|
Net assets/(liabilities)
|
|
|
(1,109,151) |
|
|
(1,062,769) |
| |
|
|
|
|
|
Capital and reserves
|
|
|
(1,109,151) |
|
|
(1,062,769) |
| |
Statutory Information
Kimchiland Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number 07885834, registration address 5 Station Approach, Station Approach, Richmond, TW9 3QB, England.
The presentation currency is £ sterling.
| 1. |
Accounting Policies
Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the FRS 105 Financial Reporting Standard for Micro Entities (effective January 2016).
Going Concern
The financial statements have been prepared on a going concern basis. The Company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future.
If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long-term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the Company, net of value-added tax and trade discounts.
Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the Company will comply with conditions attaching to them and the grants will be received.
Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Where a grant does not specify performance conditions, it is recognised as income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
Website cost
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:| Plant and Machinery | 20 Reducing Balance | | Motor Vehicles | 20% Reducing Balance | | Computer Equipment | 20 Reducing Balance |
|
| 2. |
Tangible fixed assets
| Cost or Valuation |
|
Freehold property |
|
Plant and Machinery |
|
Motor Vehicles |
|
Computer Equipment |
|
Total |
| |
|
£ |
|
£ |
|
£ |
|
£ |
|
£ |
| At 01 April 2024 |
|
142,947 |
|
34,694 |
|
- |
|
54,666 |
|
232,307 |
| Additions |
|
- |
|
- |
|
26,900 |
|
- |
|
26,900 |
| At 31 March 2025 |
|
142,947 |
|
34,694 |
|
26,900 |
|
54,666 |
|
259,207 |
| Depreciation |
| At 01 April 2024 |
|
77,750 |
|
24,866 |
|
- |
|
51,949 |
|
154,565 |
| Charge for year |
|
- |
|
1,966 |
|
2,690 |
|
544 |
|
5,200 |
| At 31 March 2025 |
|
77,750 |
|
26,832 |
|
2,690 |
|
52,493 |
|
159,765 |
| Net book values |
| Closing balance as at 31 March 2025 |
|
65,197 |
|
7,862 |
|
24,210 |
|
2,173 |
|
99,442 |
| Opening balance as at 01 April 2024 |
|
65,197 |
|
9,828 |
|
- |
|
2,717 |
|
77,742 |
|
| 3. |
Average number of employees
Average number of employees during the year were 12 (2024: 13).
|
Director's Responsibilities: - For the year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
- The members have not required the company to obtain an audit of its accounts for the year 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 accounts.
The financial statements have been prepared in accordance with the micro-entity provisions.
Signed on behalf of the board of directors: --------------------------------------------- JohnJong Hae Kim
Director | | |
Date approved: 25 August 2026
1
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