Caseware UK (AP4) 2023.0.135 2023.0.135 2023-05-312023-05-312022-06-01investment and lending into a property company for thepurposes of developing and selling residential units in Brightonfalse22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10188157 2022-06-01 2023-05-31 10188157 2021-06-01 2022-05-31 10188157 2023-05-31 10188157 2022-05-31 10188157 c:Director2 2022-06-01 2023-05-31 10188157 d:CurrentFinancialInstruments 2023-05-31 10188157 d:CurrentFinancialInstruments 2022-05-31 10188157 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 10188157 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 10188157 d:ShareCapital 2023-05-31 10188157 d:ShareCapital 2022-05-31 10188157 d:RetainedEarningsAccumulatedLosses 2023-05-31 10188157 d:RetainedEarningsAccumulatedLosses 2022-05-31 10188157 c:OrdinaryShareClass1 2022-06-01 2023-05-31 10188157 c:OrdinaryShareClass1 2023-05-31 10188157 c:OrdinaryShareClass1 2022-05-31 10188157 c:FRS102 2022-06-01 2023-05-31 10188157 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 10188157 c:FullAccounts 2022-06-01 2023-05-31 10188157 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 10188157 6 2022-06-01 2023-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10188157









KIG BRIGHTON LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2023

 
KIG BRIGHTON LIMITED
REGISTERED NUMBER: 10188157

BALANCE SHEET
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
  
78,653
78,653

  
78,653
78,653

Current assets
  

Debtors: amounts falling due within one year
 5 
310,747
385,747

Cash at bank and in hand
 6 
120,030
50,514

  
430,777
436,261

Creditors: amounts falling due within one year
 7 
(532,030)
(532,834)

Net current liabilities
  
 
 
(101,253)
 
 
(96,573)

Total assets less current liabilities
  
(22,600)
(17,920)

  

Net liabilities
  
(22,600)
(17,920)


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
(22,700)
(18,020)

  
(22,600)
(17,920)


Page 1

 
KIG BRIGHTON LIMITED
REGISTERED NUMBER: 10188157
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

N Zadikov
Director

Date: 6 February 2024

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
KIG BRIGHTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

KIG Brighton Limited is a company limited by shares and incorporated in England & Wales under the Companies Act 2006. The address of the registered office is given on the company information page. The nature of the Company's operations and its principal activities are set out in the Directors’ report.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore, the directors have adopted the going concern basis of accounting in preparing the financial statements

 
2.3

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 balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account 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 balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.4

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 3

 
KIG BRIGHTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means the actual outcomes could differ from those estimates. 


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 4

 
KIG BRIGHTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

5.


Debtors

2023
2022
£
£


Other debtors
310,747
385,747

310,747
385,747



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
120,030
50,514

120,030
50,514



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
530,506
530,506

Accruals and deferred income
1,524
2,328

532,030
532,834



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



9.


Related party transactions

Other debtors are amounts due from a company in which KIG Brighton Limited has a participating interest. Other creditors include loans provided by the shareholders totalling £530,506 (2022: £530,506).

 
Page 5