Caseware UK (AP4) 2021.0.152 2021.0.152 2022-04-302022-04-30false2021-05-01Media presentation services11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10131648 2021-05-01 2022-04-30 10131648 2020-05-01 2021-04-30 10131648 2022-04-30 10131648 2021-04-30 10131648 c:Director1 2021-05-01 2022-04-30 10131648 d:OfficeEquipment 2021-05-01 2022-04-30 10131648 d:OfficeEquipment 2022-04-30 10131648 d:OfficeEquipment 2021-04-30 10131648 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-05-01 2022-04-30 10131648 d:CurrentFinancialInstruments 2022-04-30 10131648 d:CurrentFinancialInstruments 2021-04-30 10131648 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 10131648 d:CurrentFinancialInstruments d:WithinOneYear 2021-04-30 10131648 d:ShareCapital 2022-04-30 10131648 d:ShareCapital 2021-04-30 10131648 d:RetainedEarningsAccumulatedLosses 2022-04-30 10131648 d:RetainedEarningsAccumulatedLosses 2021-04-30 10131648 c:FRS102 2021-05-01 2022-04-30 10131648 c:AuditExempt-NoAccountantsReport 2021-05-01 2022-04-30 10131648 c:FullAccounts 2021-05-01 2022-04-30 10131648 c:PrivateLimitedCompanyLtd 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure

Registered number: 10131648









KMS TRADING SOLUTIONS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2022

 
KMS TRADING SOLUTIONS LTD
REGISTERED NUMBER: 10131648

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,555
5,858

Current assets
  

Stocks
  
44,406
44,406

Debtors: amounts falling due within one year
 5 
190,423
195,679

Cash at bank and in hand
  
365,774
226,613

  
600,603
466,698

Creditors: amounts falling due within one year
 6 
(108,364)
(84,163)

Net current assets
  
 
 
492,239
 
 
382,535

  

Net assets
  
496,794
388,393


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
496,694
388,293

  
496,794
388,393


Page 1

 
KMS TRADING SOLUTIONS LTD
REGISTERED NUMBER: 10131648
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2022

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M Scholz
Director

Date: 12 September 2022

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
KMS TRADING SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

1.


General information

The principal activity of the company is media presentation services.
The company is a private company limited by shares and is incorporated in England.
The address of its Registered Office is 35 Ballards Lane, London N3 1XW. 
The presentational and functional currency of the company is GBP and the accounts have been rounded to the nearest one pound.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
KMS TRADING SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties.
 
Page 4

 
KMS TRADING SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

2.Accounting policies (continued)


2.8
Financial instruments (continued)


(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).

Page 5

 
KMS TRADING SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 May 2021
11,316


Additions
214



At 30 April 2022

11,530



Depreciation


At 1 May 2021
5,457


Charge for the year on owned assets
1,518



At 30 April 2022

6,975



Net book value



At 30 April 2022
4,555



At 30 April 2021
5,858


5.


Debtors

2022
2021
£
£


Trade debtors
10,212
37,049

Other debtors
178,385
158,630

Prepayments and accrued income
1,826
-

190,423
195,679


Page 6

 
KMS TRADING SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
1,827
-

Corporation tax
80,227
56,976

Other taxation and social security
18,623
12,164

Other creditors
4,180
11,273

Accruals and deferred income
3,507
3,750

108,364
84,163



7.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to nil (2021: £40,000). There were no contributons still payable to the fund at the reporting date.


8.


Related party transactions

Included within other creditors is a balance of £4,180 ( 2021 - £11,274) owed to the directors. Interest has been charged at the official rate. This balance is interest free with no fixed repayment terms.

 
Page 7