Caseware UK (AP4) 2022.0.179 2022.0.179 falseNo description of principal activity2022-01-01false21trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12971027 2022-01-01 2022-12-31 12971027 2020-10-23 2021-12-31 12971027 2022-12-31 12971027 2021-12-31 12971027 2020-10-23 12971027 c:Director1 2022-01-01 2022-12-31 12971027 d:CurrentFinancialInstruments 2022-12-31 12971027 d:CurrentFinancialInstruments 2021-12-31 12971027 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12971027 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 12971027 d:ShareCapital 2022-01-01 2022-12-31 12971027 d:ShareCapital 2022-12-31 12971027 d:ShareCapital 2021-12-31 12971027 d:ShareCapital 2020-10-23 12971027 d:SharePremium 2022-01-01 2022-12-31 12971027 d:SharePremium 2022-12-31 12971027 d:SharePremium 2021-12-31 12971027 d:SharePremium 2020-10-23 12971027 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 12971027 d:RetainedEarningsAccumulatedLosses 2022-12-31 12971027 d:RetainedEarningsAccumulatedLosses 2020-10-23 2021-12-31 12971027 d:RetainedEarningsAccumulatedLosses 2021-12-31 12971027 d:RetainedEarningsAccumulatedLosses 2020-10-23 12971027 c:OrdinaryShareClass1 2022-01-01 2022-12-31 12971027 c:OrdinaryShareClass1 2022-12-31 12971027 c:OrdinaryShareClass1 2021-12-31 12971027 c:FRS102 2022-01-01 2022-12-31 12971027 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 12971027 c:FullAccounts 2022-01-01 2022-12-31 12971027 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 12971027 d:Subsidiary1 2022-01-01 2022-12-31 12971027 d:Subsidiary1 1 2022-01-01 2022-12-31 12971027 2 2022-01-01 2022-12-31 12971027 6 2022-01-01 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure


















Kofa Holdings Ltd























Unaudited

Financial statements



For the year ended 31 December 2022



Registered number: 12971027

 
Kofa Holdings Ltd - Registered number: 12971027

Statement of financial position
As at 31 December 2022

As restated
As restated
2022
2022
2021
2021
Note
£
£
£
£

Fixed assets
  

Investments
  
95,836
34,610

  
95,836
34,610

Current assets
  

Debtors
  
268,297
-

Cash at bank and in hand
  
31,931
61,219

  
300,228
61,219

Creditors: amounts falling due within one year
 5 
(197,811)
(365,519)

Net current assets/(liabilities)
  
 
 
102,417
 
 
(304,300)

Total assets less current liabilities
  
198,253
(269,690)

  

Net assets/(liabilities)
  
198,253
(269,690)


Capital and reserves
  

Share capital
  
140
102

Share premium account
  
492,596
-

Profit and loss account
  
(294,483)
(269,792)

  
198,253
(269,690)


The directors consider 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Page 1

 
Kofa Holdings Ltd - Registered number: 12971027

Statement of financial position (continued)
As at 31 December 2022


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 and signed by: 




E M Nygard
Director

Date: 29 September 2023

The notes on pages 4 to 7 form part of these financial statements.
Page 2

 
Kofa Holdings Ltd


Statement of changes in equity
For the year ended 31 December 2022


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 October 2020
102
-
-
102



Loss for the period
-
-
(269,792)
(269,792)



At 1 January 2022
102
-
(269,792)
(269,690)



Loss for the year
-
-
(24,691)
(24,691)

Shares issued during the year
38
492,596
-
492,634


At 31 December 2022
140
492,596
(294,483)
198,253


The notes on pages 4 to 7 form part of these financial statements.
Page 3

 
Kofa Holdings Ltd

 
Notes to the financial statements
For the year ended 31 December 2022

1.


General information

Kofa Holdings Ltd is a private company limited by shares and is incorporated in England & Wales. The address of the registered office of the company is 21 Bennerley Rd, London, SW11 6DR. The company registration number is 12971027.

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 the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has received assurance from the shareholder that he will continue to give financial support to the company for a period of twelve months from the date of signing of these financial statements.
On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis. However, should the financial support mentioned above not be forthecoming, the going concern basis used in preparing the company's financial statements may be invalid and adjustments would have to be made necessary should this basis not continue to be appropriate. 

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 4

 
Kofa Holdings Ltd

Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)

 
2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 1).

Page 5

 
Kofa Holdings Ltd

 
Notes to the financial statements
For the year ended 31 December 2022

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2022 (as restated)
34,610


Additions
61,226



At 31 December 2022
95,836





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Kofa Technologies Limited
No. 17 Swaniker Road, Abelempke, P.O. Box GP 814, ACCRA
Ordinary shares
100%

Kofa Technologies Limited is a limited liability company incorporated and domiciled in Ghana under the Companies Act, 2019 (Act 992).


5.


Creditors: Amounts falling due within one year

As restated
2022
2021
£
£

Trade creditors
12,546
62,588

Other taxation and social security
7,287
162

Other creditors
148,915
286,518

Accruals and deferred income
29,063
16,251

197,811
365,519



6.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



14,035 (2021 - 10,188) Ordinary shares of £0.01 each
140
102


Page 6

 
Kofa Holdings Ltd

 
Notes to the financial statements
For the year ended 31 December 2022

6.Share capital (continued)

On 28 January 2022, 2,286 ordinary shares were issued at £0.01 per share.
On 02 February 2022, a further 1,561 ordinary shares were issued at £0.01 per share.


7.


Prior year adjustment

During the year the directors were made aware that the accounting entries relating to an investment addition were omitted in prior years. Adjusting for this error relating to the prior period had the following impact in the year ended 31 December 2021:
- Increase fixed asset investments by £34,610
- Increase creditors by £34,610


Page 7