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REGISTERED NUMBER: 13464697 (England and Wales)















KORE OUTDOOR EUROPE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022






KORE OUTDOOR EUROPE LIMITED (REGISTERED NUMBER: 13464697)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2022










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


KORE OUTDOOR EUROPE LIMITED

COMPANY INFORMATION
For The Year Ended 31 December 2022







DIRECTORS: W F Ceranski
A R Akbar
P Dowse
A G Sellery
A Creo





SECRETARY: S M R Abdi





REGISTERED OFFICE: Adrenalin House
Farningham Road
Crowborough
East Sussex
TN6 2JD





REGISTERED NUMBER: 13464697 (England and Wales)





AUDITORS: Hilden Park Accountants Limited
Chartered Accountants
& Registered Auditors
Hilden Park House
79 Tonbridge Road
Hildenborough
Tonbridge
Kent
TN11 9BH

KORE OUTDOOR EUROPE LIMITED (REGISTERED NUMBER: 13464697)

ABRIDGED BALANCE SHEET
31 December 2022

31/12/22 31/12/21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 16,405

CURRENT ASSETS
Stocks 1,076,760 714,763
Debtors 2,169,487 1,116,338
Cash at bank and in hand 194,212 110,705
3,440,459 1,941,806
CREDITORS
Amounts falling due within one year 791,610 414,064
NET CURRENT ASSETS 2,648,849 1,527,742
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,648,849

1,544,147

CAPITAL AND RESERVES
Called up share capital 20 20
Share premium 1,612,253 1,612,253
Retained earnings 1,036,576 (68,126 )
2,648,849 1,544,147

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 26 October 2023 and were signed on its behalf by:





W F Ceranski - Director


KORE OUTDOOR EUROPE LIMITED (REGISTERED NUMBER: 13464697)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2022


1. STATUTORY INFORMATION

Kore Outdoor Europe 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.

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.

The financial statements are presented in pounds sterling and rounded to the nearest pound.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - Straight line over 6 years
Motor vehicles - Straight line over 6 years
Office equipment - Straight line over 3 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

KORE OUTDOOR EUROPE LIMITED (REGISTERED NUMBER: 13464697)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2022


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 5 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2022
and 31 December 2022 17,772
DEPRECIATION
At 1 January 2022 1,367
Charge for year 16,405
At 31 December 2022 17,772
NET BOOK VALUE
At 31 December 2022 -
At 31 December 2021 16,405

5. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/12/22 31/12/21
£    £   
Within one year 59,500 -
Between one and five years 263,500 -
In more than five years 137,500 -
460,500 -

The operating lease relates to the warehouse and offices located in Crowborough.

KORE OUTDOOR EUROPE LIMITED (REGISTERED NUMBER: 13464697)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2022


6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Chewter FCA (Senior Statutory Auditor)
for and on behalf of Hilden Park Accountants Limited

7. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Kore Outdoor Ltd, a company incorporated in Canada.

Kore Outdoor Ltd prepares group consolidated financial statements and copies can be obtained from that at 6000 Kieran, Ville St Laurent, QC H4S 2B5, Canada.