KP Sport UK Ltd 14183838 true 2022-10-01 2023-09-30 2023-09-30 The principal activity of the company is wholesale of radio, television goods & electrical household appliances Digita Accounts Production Advanced 6.30.9574.0 true false true 14183838 2022-10-01 2023-09-30 14183838 2023-09-30 14183838 core:RetainedEarningsAccumulatedLosses 2023-09-30 14183838 core:ShareCapital 2023-09-30 14183838 core:CurrentFinancialInstruments 2023-09-30 14183838 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 14183838 core:FurnitureFittingsToolsEquipment 2023-09-30 14183838 bus:SmallEntities 2022-10-01 2023-09-30 14183838 bus:Audited 2022-10-01 2023-09-30 14183838 bus:FullAccounts 2022-10-01 2023-09-30 14183838 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 14183838 bus:RegisteredOffice 2022-10-01 2023-09-30 14183838 bus:Director1 2022-10-01 2023-09-30 14183838 bus:EntityHasNeverTraded 2022-10-01 2023-09-30 14183838 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 14183838 core:FurnitureFittingsToolsEquipment 2022-10-01 2023-09-30 14183838 1 2022-10-01 2023-09-30 14183838 countries:EnglandWales 2022-10-01 2023-09-30 14183838 countries:Spain 2022-10-01 2023-09-30 14183838 2022-06-20 2022-09-30 14183838 2022-09-30 14183838 core:RetainedEarningsAccumulatedLosses 2022-09-30 14183838 core:ShareCapital 2022-09-30 14183838 core:CurrentFinancialInstruments 2022-09-30 14183838 core:CurrentFinancialInstruments core:WithinOneYear 2022-09-30 iso4217:GBP xbrli:pure

Registration number: 14183838

KP Sport UK Ltd

Filleted Financial Statements

for the Year Ended 30 September 2023

 

KP Sport UK Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

KP Sport UK Ltd

Company Information

Director

Mr A Roche Rebollo

Registered office

C/O Stevens & Bolton Llp
Wey House
Farnham Road
Guildford
Surrey
GU1 4YD

Auditors

Landmark Audit Limited
Chartered Accountants
Statutory Auditors
Leavesden Park
5 Hercules Way
Watford
Hertfordshire
WD25 7GS

 

KP Sport UK Ltd

(Registration number: 14183838)
Balance Sheet as at 30 September 2023

Note

2023

2022

   

£

£

£

£

Fixed assets

   

 

Tangible assets

4

 

949

 

-

Current assets

   

 

Stocks

5

368,061

 

-

 

Debtors

6

146,481

 

1

 

Cash at bank and in hand

 

21,490

 

-

 

 

536,032

 

1

 

Creditors: Amounts falling due within one year

7

(566,362)

 

-

 

Net current (liabilities)/assets

   

(30,330)

 

1

Net (liabilities)/assets

   

(29,381)

 

1

Capital and reserves

   

 

Called up share capital

1

 

1

 

Retained earnings

(29,382)

 

-

 

Shareholders' (deficit)/funds

   

(29,381)

 

1

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 11 April 2024
 

.........................................
Mr A Roche Rebollo
Director

   
     
 

KP Sport UK Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/O Stevens & Bolton Llp
Wey House
Farnham Road
Guildford
Surrey
GU1 4YD

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency of these accounts is £ Sterling. These accounts have been rounded to the nearest £1.

Summary of disclosure exemptions

The company has taken advantage of the exemption under FRS 102 S.1a for disclosing transactions with wholly owned members of the same group. .

Going concern

With due consideration to company forecasts and continued financial support available from the parent company, the director is satisfied that the company has adequate resources to continue in operational existence for the foreseeable future, meeting liabilities as they fall due for at least 12 months from the date of signing of the financial statements. Thus the financial statements continue to adopt the going concern basis of accounting.

 

KP Sport UK Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 11 April 2024 was Philip Cole FCA, who signed for and on behalf of Landmark Audit Limited.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

25% straight line method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

KP Sport UK Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments.
 Recognition and measurement
Basic financial instruments are recognised at amortised cost.
 

 

KP Sport UK Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 1).

 

KP Sport UK Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

1,071

1,071

At 30 September 2023

1,071

1,071

Depreciation

Charge for the year

122

122

At 30 September 2023

122

122

Carrying amount

At 30 September 2023

949

949

5

Stocks

2023
£

2022
£

Other inventories

368,061

-

6

Debtors

Current

2023
£

2022
£

Trade debtors

62,113

-

Other debtors

84,368

1

 

146,481

1

7

Creditors

2023
£

2022
£

Due within one year

Trade creditors

516,279

-

Taxation and social security

26,088

-

Accruals and deferred income

23,995

-

566,362

-

 

KP Sport UK Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

8

Relationship between entity and parents

The parent of the smallest group in which these financial statements are consolidated is Grupo KP 2012 SL, incorporated in Spain.

The address of Grupo KP 2012 SL is:
Carrer Vic 99
08160 Montmelo
Barcelona
Spain