Kanda Precious Metals Limited - Accounts to registrar (filleted) - small 18.2
Kanda Precious Metals Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| FOR |
| KANDA PRECIOUS METALS LIMITED |
| KANDA PRECIOUS METALS LIMITED (REGISTERED NUMBER: 03956712) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| For The Year Ended 31 March 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| KANDA PRECIOUS METALS LIMITED |
| COMPANY INFORMATION |
| For The Year Ended 31 March 2021 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 31 High View Close |
| Hamilton Office Park |
| Leicester |
| Leicestershire |
| LE4 9LJ |
| KANDA PRECIOUS METALS LIMITED (REGISTERED NUMBER: 03956712) |
| BALANCE SHEET |
| 31 March 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| KANDA PRECIOUS METALS LIMITED (REGISTERED NUMBER: 03956712) |
| NOTES TO THE FINANCIAL STATEMENTS |
| For The Year Ended 31 March 2021 |
| 1. | STATUTORY INFORMATION |
| Kanda Precious Metals Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the 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 |
| Equipment | - |
| Fixtures and fittings | - |
| 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 year 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 year 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| KANDA PRECIOUS METALS LIMITED (REGISTERED NUMBER: 03956712) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 March 2021 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvement | Fixtures |
| to | and |
| property | Equipment | fittings | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2020 |
| Additions |
| At 31 March 2021 |
| DEPRECIATION |
| At 1 April 2020 |
| Charge for year |
| At 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 |
| At 31 March 2020 |
| 5. | FIXED ASSET INVESTMENTS |
| Investments (neither listed nor unlisted) were as follows: |
| 2021 | 2020 |
| £ | £ |
| Other investments | 10,396 | 10,396 |
| 6. | DEBTORS |
| 2021 | 2020 |
| £ | £ |
| Amounts falling due within one year: |
| Other debtors |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| Other creditors |
| KANDA PRECIOUS METALS LIMITED (REGISTERED NUMBER: 03956712) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 March 2021 |
| 9. | SECURED DEBTS |
| The bank loan is secured by way of a fixed and floating charge.over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery. |
| 10. | RELATED PARTY DISCLOSURES |
| Debtors amounts falling due after more than one year includes a loan to Sarovar Corporation Limited. Mr A Kanda is a director of Sarovar Corporation Limited and the son of Mr J K Kanda the director of Kanda Precious Metals Limited. The balance outstanding at 31 March 2021 was £270,000 (2020 £270,000) and is included in other debtors. |
| Included in other creditors amounts falling due after more than one year are amounts loaned to the company by the director of £26,032 (2020: £24,081) and other loans of £140,643 (2020: £140,643). These loans are repayable on demand after a period of one year from the balance sheet date and are made interest free. |