Expomax Ltd T/A KNAV - Period Ending 2019-06-30

Registration number: 03215471

Expomax Ltd T/A KNAV

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2019

Expomax Ltd T/A KNAV

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

Expomax Ltd T/A KNAV

Company Information

Director

Mr A Singh

Company secretary

Mrs H Giani

Registered office

Hygeia Building Ground Floor 66-68 College Road Harrow Middlesex HA1 1BE

Page 1

Expomax Ltd T/A KNAV

(Registration number: 03215471)
Balance Sheet as at 30 June 2019

	Note	2019 £	2018 £
Fixed assets
Tangible assets	3	2,428	1
Current assets
Debtors	4	43,390	123
Cash at bank and in hand		31,780	16,381
		75,170	16,504
Creditors: Amounts falling due within one year	5	(79,440)	(14,134)
Net current (liabilities)/assets		(4,270)	2,370
Net (liabilities)/assets		(1,842)	2,371
Capital and reserves
Called up share capital	6	5,000	5,000
Profit and loss account		(6,842)	(2,629)
Total equity		(1,842)	2,371

For the financial year ending 30 June 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 20 February 2020
 

.........................................

Mr A Singh
Director

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

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Expomax Ltd T/A KNAV

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2019

1	General information

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

The address of its registered office is:
Hygeia Building
Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE
United Kingdom

These financial statements were authorised for issue by the director on 20 February 2020.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tangible assets

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

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

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Expomax Ltd T/A KNAV

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2019

Asset class	Depreciation method and rate
Leasehold improvements	Over 7 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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Expomax Ltd T/A KNAV

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2019

3	Tangible assets

	Leasehold Improvements £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 July 2018	-	3,035	3,035
Additions	2,833	-	2,833
Disposals	-	(3,035)	(3,035)
At 30 June 2019	2,833	-	2,833
Depreciation
At 1 July 2018	-	3,034	3,034
Charge for the year	405	-	405
Eliminated on disposal	-	(3,034)	(3,034)
At 30 June 2019	405	-	405
Carrying amount
At 30 June 2019	2,428	-	2,428
At 30 June 2018	-	1	1

4

Debtors

	2019 £	2018 £
Other debtors	19,450	123
Prepayments	23,940	-
Total current trade and other debtors	43,390	123

5

Creditors

Creditors: amounts falling due within one year

	Note	2019 £	2018 £
Due within one year
Trade creditors		585	-
Accrued expenses		1,684	-
Directors current account		77,171	14,134
		79,440	14,134

Page 5

Expomax Ltd T/A KNAV

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2019

6	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary shares of £1 each	5,000	5,000	5,000	5,000

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