Registered number
13842966
Kinetic Finance Ltd
Filleted Accounts
31 January 2023
Kinetic Finance Ltd
Registered number: 13842966
Balance Sheet
as at 31 January 2023
Notes 2023
£
Current assets
Debtors 3 1,194,742
Cash at bank and in hand 1,685,258
2,880,000
Creditors: amounts falling due within one year 4 (2,870,492)
Net current assets 9,508
Net assets 9,508
Capital and reserves
Called up share capital 100
Profit and loss account 9,408
Shareholder's funds 9,508
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S Musa
Director
Approved by the board on 6 October 2023
Kinetic Finance Ltd
Notes to the Accounts
for the period from 12 January 2022 to 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover consists of commissions received and interest received on loans. Both commission income and interest received are recognised as turnover only when they are received by the business, the directors believe that this most accurately reflects the uncertainty and risks associated with the business model.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are recognised at transaction price including any transaction fees, less any impairment losses for bad and doubtful debts.

Trade debtors include loans provided to clients in the ordinary course of business.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs. Interest payable on loans is only recognised when it is deemed payable according to any underlying agreement.

Other creditors include monies borrowed from investors in the ordinary course of business.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023
Number
Average number of persons employed by the company 0
3 Debtors 2023
£
Trade debtors 1,074,742
Other debtors 120,000
1,194,742
4 Creditors: amounts falling due within one year 2023
£
Accruals 840
Other creditors 2,869,652
2,870,492
5 Controlling party
The company is controlled by Mr MH Jiva by virtue of his 100% shareholding.
6 Other information
Kinetic Finance Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Arkwright House
Parsonage Gardens
Manchester
M3 2LF
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