Kyk Trading Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12193385 (England and Wales)

Unaudited Financial Statements

for the Period 6 September 2019 to 31 December 2020

for

Kyk Trading Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr Aslan Kesen

Mr Oktay Yilmaz

REGISTERED OFFICE:

293 Green Lanes

Palmers Green

London

N13 4XS

REGISTERED NUMBER:

12193385 (England and Wales)

ACCOUNTANTS:

ADPL LLP

Chartered Certified Accountants

& Business Advisers

Ernest House

293 Green Lanes

Palmers Green

London

N13 4XS

FIXED ASSETS

Tangible assets

4

203,842

CURRENT ASSETS

Stocks

120,450

Debtors

5

18,750

Cash at bank and in hand

32,468

171,668

CREDITORS

Amounts falling due within one year

6

290,085

NET CURRENT LIABILITIES

(118,417

)

TOTAL ASSETS LESS CURRENT LIABILITIES

85,425

CREDITORS

Amounts falling due after more than one year

7

(10,567

)

PROVISIONS FOR LIABILITIES

8

(21,530

)

NET ASSETS

53,328

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

53,228

53,328

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 June 2021 and were signed on its behalf by:

Mr Oktay Yilmaz - Director

Mr Aslan Kesen - Director

1.	STATUTORY INFORMATION

Kyk Trading Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

In carrying out this assessment, the directors have considered the impact of the Covid-19 pandemic on the trade and finances of the company and wider group and they have taken steps to protect liquidity.

The directors are therefore satisfied that there is no significant risk to the ability of the company to continue as a going concern for at least 12 months from the date of approval of these financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

10% on reducing balance

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

10% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 10 .

4.	TANGIBLE FIXED ASSETS

Improvements

Short

to

Plant and

leasehold

property

machinery

£

£

£

COST

Additions

9,525

90,000

108,908

At 31 December 2020

9,525

90,000

108,908

DEPRECIATION

Charge for period

-

9,000

10,891

At 31 December 2020

-

9,000

10,891

NET BOOK VALUE

At 31 December 2020

9,525

81,000

98,017

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

Additions

1,500

15,500

225,433

At 31 December 2020

1,500

15,500

225,433

DEPRECIATION

Charge for period

150

1,550

21,591

At 31 December 2020

150

1,550

21,591

NET BOOK VALUE

At 31 December 2020

1,350

13,950

203,842

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

18,750

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Hire purchase contracts

3,170

Trade creditors

120,747

Taxation and social security

6,926

Other creditors

159,242

290,085

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Hire purchase contracts

10,567

8.	PROVISIONS FOR LIABILITIES

£

Deferred tax

21,530

Deferred

tax

£

Charge to Income Statement during period

21,530

Balance at 31 December 2020

21,530