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REGISTERED NUMBER: 03689098 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 April 2022

for

KEM Management Limited

KEM Management Limited (Registered number: 03689098)






Contents of the Financial Statements
for the Year Ended 30 April 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KEM Management Limited

Company Information
for the Year Ended 30 April 2022







DIRECTORS: Sir K E Mills
Lady M E Mills
A J E Mills
Mrs A L C Miller





SECRETARY: D Cavanagh





REGISTERED OFFICE: Napier House
14-16 Mount Ephraim Road
Tunbridge Wells
Kent
TN1 1EE





REGISTERED NUMBER: 03689098 (England and Wales)





ACCOUNTANTS: Ward Mackenzie Ltd
Chartered Accountants
Thatcher House
12 Mount Ephraim
Tunbridge Wells
Kent
TN4 8AS

KEM Management Limited (Registered number: 03689098)

Balance Sheet
30 April 2022

2022 2021
Notes £    £   
FIXED ASSETS
Intangible assets 4 78 -
Tangible assets 5 1,654 2,347
Investments 6 5,918 5,918
7,650 8,265

CURRENT ASSETS
Debtors 7 17,850 19,770
Cash at bank 46,700 150,552
64,550 170,322
CREDITORS
Amounts falling due within one year 8 (2,520,082 ) (2,648,555 )
NET CURRENT LIABILITIES (2,455,532 ) (2,478,233 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,447,882

)

(2,469,968

)

CAPITAL AND RESERVES
Called up share capital 1,010,000 1,010,000
Retained earnings (3,457,882 ) (3,479,968 )
SHAREHOLDERS' FUNDS (2,447,882 ) (2,469,968 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 in accordance with Section 476 of the Companies Act 2006.

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.

KEM Management Limited (Registered number: 03689098)

Balance Sheet - continued
30 April 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2022 and were signed on its behalf by:





Sir K E Mills - Director


KEM Management Limited (Registered number: 03689098)

Notes to the Financial Statements
for the Year Ended 30 April 2022

1. STATUTORY INFORMATION

KEM Management 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover represents net invoiced sales of consultancy services, excluding value added tax, provided by the company.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Fixtures and fittings - 33% on 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.

KEM Management Limited (Registered number: 03689098)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2022

2. ACCOUNTING POLICIES - continued

FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

INVESTMENTS
Investments are stated at cost, less provision for permanent diminution in value.

OPERATING LEASES
Operating leases are charged to the profit and loss account over the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 117
At 30 April 2022 117
AMORTISATION
Charge for year 39
At 30 April 2022 39
NET BOOK VALUE
At 30 April 2022 78

KEM Management Limited (Registered number: 03689098)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2022

5. TANGIBLE FIXED ASSETS
Fixtures
Short and
leasehold fittings Totals
£    £    £   
COST
At 1 May 2021 440,559 280,064 720,623
Additions - 721 721
At 30 April 2022 440,559 280,785 721,344
DEPRECIATION
At 1 May 2021 440,559 277,717 718,276
Charge for year - 1,414 1,414
At 30 April 2022 440,559 279,131 719,690
NET BOOK VALUE
At 30 April 2022 - 1,654 1,654
At 30 April 2021 - 2,347 2,347

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 May 2021
and 30 April 2022 5,918
NET BOOK VALUE
At 30 April 2022 5,918
At 30 April 2021 5,918

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 12,413 18,043
Other debtors 3,131 399
Deferred tax asset 1,141 1,328
Prepayments 1,165 -
17,850 19,770

KEM Management Limited (Registered number: 03689098)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2022

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 1,996 688
Social security and other tax 3,976 1,419
VAT 9,328 7,381
Directors' current accounts 2,502,477 2,636,882
Accrued expenses 2,305 2,185
2,520,082 2,648,555

9. RELATED PARTY DISCLOSURES

During the year the company received Nil (2021: £61,484) of consultancy and administration revenue from to Origin Sports Group Limited.

At the year end Sir K E Mills (Director) was owed £2,502,477 (2021 : £2,636,882) from KEM Management Limited.

10. CONTROLLING PARTY

The ultimate controlling party is Sir Keith Mills, director of the company, by virtue of his holding controlling interest in KEM Investments Ltd, the Holding company of KEM Management Ltd.

11. GOING CONCERN

The director continues to support KEM Management Limited in all aspects of its operations and is willing to commit funds as necessary.

KEM Management Limited anticipates profits in future trading periods and will look to reduce reliance on the director in the future.