REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements for the Year Ended 31 December 2022 |
for |
Kazphosphate Limited |
REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements for the Year Ended 31 December 2022 |
for |
Kazphosphate Limited |
Kazphosphate Limited (Registered number: 06007551) |
Contents of the Financial Statements |
for the Year Ended 31 December 2022 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Report of the Accountants | 3 |
Income Statement | 4 |
Balance Sheet | 5 |
Notes to the Financial Statements | 6 |
Kazphosphate Limited |
Company Information |
for the Year Ended 31 December 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
123 Pall Mall |
St. James's |
London |
SW1Y 5EA |
Kazphosphate Limited (Registered number: 06007551) |
Report of the Directors |
for the Year Ended 31 December 2022 |
The directors present their report with the financial statements of the company for the year ended 31 December 2022. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 January 2022 to the date of this report. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
Kazphosphate Limited |
Report of the Accountants to the Directors of |
Kazphosphate Limited |
As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2022 set out on pages four to seven and you consider that the company is exempt from an audit. |
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
123 Pall Mall |
St. James's |
London |
SW1Y 5EA |
Kazphosphate Limited (Registered number: 06007551) |
Income Statement |
for the Year Ended 31 December 2022 |
31.12.22 | 31.12.21 |
Notes | $ | $ |
TURNOVER |
Administrative expenses | ( |
) | ( |
) |
(434,769 | ) | (23,959,222 | ) |
Other operating income |
OPERATING LOSS | ( |
) | ( |
) |
Profit/loss on sale of |
investments | 4 |
(LOSS)/PROFIT BEFORE TAXATION | ( |
) |
Tax on (loss)/profit |
(LOSS)/PROFIT FOR THE FINANCIAL YEAR | ( |
) |
Kazphosphate Limited (Registered number: 06007551) |
Balance Sheet |
31 December 2022 |
31.12.22 | 31.12.21 |
Notes | $ | $ |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
Kazphosphate Limited (Registered number: 06007551) |
Notes to the Financial Statements |
for the Year Ended 31 December 2022 |
1. | STATUTORY INFORMATION |
Kazphosphate Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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. |
Investment |
Investment in subsidiaries are stated at cost less any provision for impairment. Costs include all direct and incremental costs relating to the investment. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into US dollars at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into US dollars at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
4. | EXCEPTIONAL ITEMS |
31.12.22 | 31.12.21 |
$ | $ |
Profit/loss on sale of |
investments |
During last year the company disposed of its holding in Kazphosphate LLP, a company incorporated in Kazakhstan. This resulted in profit of $469,369,423. In addition, the company sold its investment in Almaty Mega Finance LLP, a company incorporated in Kazakhstan. This resulted in loss of US$187,081,521. |
Kazphosphate Limited (Registered number: 06007551) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
$ | $ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
$ | $ |
Other creditors |
7. | RELATED PARTY DISCLOSURES |
Included in debtors due within one year are the amounts due from the following related parties: |
31.12.22 | 31.12.21 |
Amounts due from shareholders | $ |
$55,438 |
8. | ULTIMATE CONTROLLING PARTY |