Kanda Precious Metals Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 03956712 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

KANDA PRECIOUS METALS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J K Kanda

SECRETARY:

J K Kanda

REGISTERED OFFICE:

246 Narborough Road

Leicester

LE3 2AP

REGISTERED NUMBER:

03956712 (England and Wales)

ACCOUNTANTS:

Kagdadia & Co

246 Narborough Road

Leicester

Leicestershire

LE3 2AP

FIXED ASSETS

Tangible assets

4

233,377

233,856

Investments

5

10,396

10,396

243,773

244,252

CURRENT ASSETS

Stocks

219,877

217,997

Debtors

320,000

279,575

Cash at bank and in hand

22,158

16,534

562,035

514,106

CREDITORS

Amounts falling due within one year

60,656

59,069

NET CURRENT ASSETS

501,379

455,037

TOTAL ASSETS LESS CURRENT LIABILITIES

745,152

699,289

CREDITORS

Amounts falling due after more than one year

(337,707

)

(406,980

)

PROVISIONS FOR LIABILITIES

(348

)

(436

)

NET ASSETS

407,097

291,873

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

407,093

291,869

SHAREHOLDERS' FUNDS

407,097

291,873

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 3 August 2017 and were signed by:

J K Kanda - Director

1.	STATUTORY INFORMATION

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

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.

Equipment

-

20% on reducing balance

Fixtures and fittings

-

20% 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 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 1 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

and 31 March 2017

244,192

DEPRECIATION

At 1 April 2016

10,336

Charge for year

479

At 31 March 2017

10,815

NET BOOK VALUE

At 31 March 2017

233,377

At 31 March 2016

233,856

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2017

2016

£

£

Other investments

10,396

10,396

6.	RELATED PARTY DISCLOSURES

The company occupies premises owned by the shareholders. The company paid rent of £16,800 (2016 £16,800)

in the year.

7.	ULTIMATE CONTROLLING PARTY

The company is not under the control of any one individual.