Kuro Dragon Limited 31/03/2022 iXBRL

KURO DRAGON LIMITED - Company Information

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Company registration number: 07443899

Kuro Dragon Limited

Unaudited filleted abridged financial statements

31 March 2022

Kuro Dragon Limited

Contents

Abridged balance sheet

Notes to the financial statements

Kuro Dragon Limited

Abridged Balance sheet

31 March 2022

		2022		2021
	Note	£	£	£	£

Fixed assets
Intangible assets	5	-		-
Tangible assets	6	12,111		14,582
		_______		_______
			12,111		14,582

Current assets
Debtors		26,035		25,854
Cash at bank and in hand		12,671		12,135
		_______		_______
		38,706		37,989
Creditors: amounts falling due
within one year		( 24,213)		( 22,405)
		_______		_______
Net current assets			14,493		15,584
			_______		_______
Total assets less current liabilities			26,604		30,166

Creditors: amounts falling due
after more than one year			( 26,408)		( 36,000)
			_______		_______
Net assets/(liabilities)			196		( 5,834)
			_______		_______

Capital and reserves
Called up share capital			10		10
Profit and loss account			186		( 5,844)
			_______		_______
Shareholder funds/(deficit)			196		( 5,834)
			_______		_______

For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

All of the members have consented to the preparation of the abridged Balance sheet for the current year ending 31 March 2022 in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements were approved by the board of directors and authorised for issue on 27 January 2023 , and are signed on behalf of the board by:

Mr S M Howard

Director

Company registration number: 07443899

Kuro Dragon Limited

Notes to the financial statements

Year ended 31 March 2022

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Kuro Dragon Limited, Northern Design Centre, Baltic Business Quarter, Gateshead, NE8 3DF.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Goodwill	-	20 %	straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Fittings fixtures and equipment	-	20 %	reducing balance
Motor vehicles	-	25 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model and the performance model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2021: 2 ).

5. Intangible assets


		£
	Cost
	At 1 April 2021 and 31 March 2022	30,000
		_______
	Amortisation
	At 1 April 2021 and 31 March 2022	30,000
		_______
	Carrying amount
	At 31 March 2022	-
		_______
	At 31 March 2021	-
		_______

6. Tangible assets


		£
	Cost
	At 1 April 2021 and 31 March 2022	34,246
		_______
	Depreciation
	At 1 April 2021	19,664
	Charge for the year	2,471
		_______
	At 31 March 2022	22,135
		_______
	Carrying amount
	At 31 March 2022	12,111
		_______
	At 31 March 2021	14,582
		_______

7. Directors advances, credits and guarantees

	During the year the director entered into the following advances and credits with the company:

2022
		Balance brought forward	Advances /(credits) to the director	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr S M Howard	18,863	-	( 4,613)	14,250
		_______	_______	_______	_______

2021
		Balance brought forward	Advances /(credits) to the director	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr S M Howard	9,847	9,016	-	18,863
		_______	_______	_______	_______