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REGISTERED NUMBER: 10870489 (England and Wales)















Kernow Financial Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2023






Kernow Financial Ltd (Registered number: 10870489)

Contents of the Financial Statements
for the year ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Kernow Financial Ltd

Company Information
for the year ended 31 March 2023







Director: J N A Floyd





Registered office: New Derwent House
69 - 73 Theobalds Road
London
WC1X 8TA





Registered number: 10870489 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Kernow Financial Ltd (Registered number: 10870489)

Balance Sheet
31 March 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 1,758 -

Current assets
Debtors 5 5,000 5,000
Cash at bank 40,792 67,817
45,792 72,817
Creditors
Amounts falling due within one year 6 6,727 22,917
Net current assets 39,065 49,900
Total assets less current liabilities 40,823 49,900

Capital and reserves
Called up share capital 7 10 10
Retained earnings 8 40,813 49,890
Shareholders' funds 40,823 49,900

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 November 2023 and were signed by:





J N A Floyd - Director


Kernow Financial Ltd (Registered number: 10870489)

Notes to the Financial Statements
for the year ended 31 March 2023


1. Statutory information

Kernow Financial Ltd 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.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and rebates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 20% on cost

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. Employees and directors

The average number of employees during the year was 1 (2022 - 1 ) .

4. Tangible fixed assets
Computer
equipment
£
Cost
Additions 2,197
At 31 March 2023 2,197
Depreciation
Charge for year 439
At 31 March 2023 439
Net book value
At 31 March 2023 1,758

Kernow Financial Ltd (Registered number: 10870489)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


5. Debtors: amounts falling due within one year
2023 2022
£ £
Other debtors 5,000 5,000

6. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 12 -
Trade creditors 301 289
Taxation and social security 3,912 18,563
Other creditors 2,502 4,065
6,727 22,917

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
1,000 Ordinary £0.01 10 10

8. Reserves
Retained
earnings
£

At 1 April 2022 49,890
Profit for the year 18,523
Dividends (27,600 )
At 31 March 2023 40,813

9. Related party disclosures

During the year the company made sales of £Nil (2022 - £50,000) to UAP Group Ltd and £10,294 (2022 - £Nil) to Brook Green Operations, companies in which the director has an interest.

Included in other debtors is £5,000 (2022 - £5,000) owed by a company in which the director has an interest.