KRITIK RETAIL LTD

KRITIK RETAIL LTD

KRITIK RETAIL LTD - Company Information

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Company Registration No. 13238595 (England and Wales)
KRITIK RETAIL LTD Unaudited accounts for the year ended 31 March 2023
KRITIK RETAIL LTD Unaudited accounts Contents
Page
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KRITIK RETAIL LTD Company Information for the year ended 31 March 2023
Director
Rushanthi NAGANATHAN
Company Number
13238595 (England and Wales)
Registered Office
41 SUNNYBANK ROAD SUTTON COLDFIELD B73 5RJ ENGLAND
Accountants
P&K Associates Limited CIMA Practising Certificate Holder 183, Burntoak Broadway EDGWARE Middlesex HA8 5EH
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KRITIK RETAIL LTD Accountants' report
Accountants' report to the director of KRITIK RETAIL LTD on the preparation of the unaudited statutory accounts for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of KRITIK RETAIL LTD for the year ended 31 March 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of KRITIK RETAIL LTD, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of KRITIK RETAIL LTD and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KRITIK RETAIL LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that KRITIK RETAIL LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of KRITIK RETAIL LTD. You consider that KRITIK RETAIL LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of KRITIK RETAIL LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
P&K Associates Limited CIMA Practising Certificate Holder 183, Burntoak Broadway EDGWARE Middlesex HA8 5EH 22 December 2023
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KRITIK RETAIL LTD Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
4
61,526 
61,526 
Tangible assets
5
66,210 
16,462 
127,736 
77,988 
Current assets
Inventories
34,243 
28,500 
Cash at bank and in hand
330 
12 
34,573 
28,512 
Creditors: amounts falling due within one year
6
(183,959)
(81,970)
Net current liabilities
(149,386)
(53,458)
Total assets less current liabilities
(21,650)
24,530 
Creditors: amounts falling due after more than one year
7
(43,000)
(35,833)
Net liabilities
(64,650)
(11,303)
Capital and reserves
Called up share capital
500 
500 
Profit and loss account
(65,150)
(11,803)
Shareholders' funds
(64,650)
(11,303)
For the year ending 31 March 2023 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 December 2023 and were signed on its behalf by
Rushanthi NAGANATHAN Director Company Registration No. 13238595
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KRITIK RETAIL LTD Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
KRITIK RETAIL LTD is a private company, limited by shares, registered in England and Wales, registration number 13238595. The registered office is 41 SUNNYBANK ROAD, SUTTON COLDFIELD, B73 5RJ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20%
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
4
Intangible fixed assets
Goodwill 
Other 
Total 
£ 
£ 
£ 
Cost
At 1 April 2022
60,000 
1,526 
61,526 
At 31 March 2023
60,000 
1,526 
61,526 
Amortisation
At 1 April 2022
- 
- 
- 
At 31 March 2023
- 
- 
- 
Net book value
At 31 March 2023
60,000 
1,526 
61,526 
At 31 March 2022
60,000 
1,526 
61,526 
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KRITIK RETAIL LTD Notes to the Accounts for the year ended 31 March 2023
5
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 April 2022
16,462 
Additions
62,400 
At 31 March 2023
78,862 
Depreciation
Charge for the year
12,652 
At 31 March 2023
12,652 
Net book value
At 31 March 2023
66,210 
At 31 March 2022
16,462 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
20,000 
15,000 
VAT
554 
2,387 
Taxes and social security
200 
- 
Loans from directors
163,205 
64,583 
183,959 
81,970 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
43,000 
35,833 
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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