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REGISTERED NUMBER: 08474096 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2022

for

KOLA CAPITAL SERVICES LIMITED

KOLA CAPITAL SERVICES LIMITED (REGISTERED NUMBER: 08474096)

Contents of the Financial Statements
for the year ended 30 November 2022










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


KOLA CAPITAL SERVICES LIMITED

Company Information
for the year ended 30 November 2022







DIRECTOR: A Motlokhov





REGISTERED OFFICE: C/O Thorne Lancaster Parker
Venture House
27/29 Glasshouse Street
London
W1B 5DF





REGISTERED NUMBER: 08474096 (England and Wales)






KOLA CAPITAL SERVICES LIMITED (REGISTERED NUMBER: 08474096)

Statement of Financial Position
30 November 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investments 5 68,484 68,484

CURRENT ASSETS
Debtors 6 93,199 145,246

CREDITORS
Amounts falling due within one year 7 93,355 149,285
NET CURRENT LIABILITIES (156 ) (4,039 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,328

64,445

CAPITAL AND RESERVES
Called up share capital 8 1,294,196 1,294,196
Retained earnings (1,225,868 ) (1,229,751 )
SHAREHOLDERS' FUNDS 68,328 64,445

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

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

The director acknowledges his 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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 November 2023 and were signed by:





A Motlokhov - Director


KOLA CAPITAL SERVICES LIMITED (REGISTERED NUMBER: 08474096)

Notes to the Financial Statements
for the year ended 30 November 2022


1. STATUTORY INFORMATION

Kola Capital Services 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover and revenue recognition
Turnover represents the value of services provided during the financial period in the ordinary course of business, excluding value added tax.

Revenue is recognised when the company has a contractual right to payment.

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 statement of financial position date.

Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Investments
Investments held as fixed assets are shown at cost less provision for permanent diminution of value.

KOLA CAPITAL SERVICES LIMITED (REGISTERED NUMBER: 08474096)

Notes to the Financial Statements - continued
for the year ended 30 November 2022


3. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets

Other debtors, amounts owed by related undertakings, cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period basic 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 profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Basic financial assets are derecognised when (a) the contractual rights to the cash flows from the assets expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities

Trade creditors and accruals are initially recognised at transaction price and subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

Equity instruments
The ordinary share capital of the company is classified as equity and recorded at fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

5. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 December 2021
and 30 November 2022 68,484
NET BOOK VALUE
At 30 November 2022 68,484
At 30 November 2021 68,484

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 28 28
Prepayments and accrued income 93,171 145,218
93,199 145,246

KOLA CAPITAL SERVICES LIMITED (REGISTERED NUMBER: 08474096)

Notes to the Financial Statements - continued
for the year ended 30 November 2022


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts due to related parties 89,655 138,016
Accruals and deferred income 3,700 11,269
93,355 149,285

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
1,294,196 Ordinary £1 1,294,196 1,294,196

9. RELATED PARTY DISCLOSURES

Kola Capital LLP
Under common control

During the year the company provided management services to the subsidiary amounting to £37,980. The services were provided on conventional commercial terms.

During the prior year the company agreed to facilitate the repayment of a loan of £180,330 on behalf of the LLP.

The balance owed at the period end in relation to the above was £89,655 (2021 £138,016) and this amount is unsecured, interest free and repayable on demand.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A Motlokhov.

11. ULTIMATE PARENT COMPANY

Kola Capital Services (Cayman) Inc (incorporated in Cayman Islands) is regarded by the director as being the company's ultimate parent company.