Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-312023-01-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.11falseNo description of principal activitytruetrue 11511621 2023-01-01 2023-08-31 11511621 2022-01-01 2022-12-31 11511621 2023-08-31 11511621 2022-12-31 11511621 c:Director2 2023-01-01 2023-08-31 11511621 d:CurrentFinancialInstruments 2023-08-31 11511621 d:CurrentFinancialInstruments 2022-12-31 11511621 d:Non-currentFinancialInstruments 2023-08-31 11511621 d:Non-currentFinancialInstruments 2022-12-31 11511621 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 11511621 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11511621 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 11511621 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 11511621 d:ShareCapital 2023-08-31 11511621 d:ShareCapital 2022-12-31 11511621 d:RetainedEarningsAccumulatedLosses 2023-08-31 11511621 d:RetainedEarningsAccumulatedLosses 2022-12-31 11511621 c:FRS102 2023-01-01 2023-08-31 11511621 c:AuditExemptWithAccountantsReport 2023-01-01 2023-08-31 11511621 c:FullAccounts 2023-01-01 2023-08-31 11511621 c:PrivateLimitedCompanyLtd 2023-01-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 11511621










KEIMOS 1988 LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 AUGUST 2023

 
KEIMOS 1988 LIMITED
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2
Notes to the Financial Statements
 
 
3 - 6


 
KEIMOS 1988 LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF KEIMOS 1988 LIMITED
FOR THE PERIOD ENDED 31 AUGUST 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Keimos 1988 Limited for the period ended 31 August 2023 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Keimos 1988 Limited in accordance with the terms of our engagement letter dated 10 August 2018Our work has been undertaken solely to prepare for your approval the financial statements of Keimos 1988 Limited  and state those matters that we have agreed to state to the director of Keimos 1988 Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Keimos 1988 Limited and its director for our work or for this report. 

It is your duty to ensure that Keimos 1988 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Keimos 1988 Limited. You consider that Keimos 1988 Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Keimos 1988 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  


BAGINSKY COHEN
CHARTERED ACCOUNTANTS
930 HIGH ROAD
N12 9RT
7 March 2024
Page 1

 
KEIMOS 1988 LIMITED
REGISTERED NUMBER: 11511621

BALANCE SHEET
AS AT 31 AUGUST 2023

31 August
31 August
31 December
31 December
2023
2023
2022
2022
Note
£
£
£
£

  

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 4 
-
1,603

Cash at bank and in hand
 5 
1,000
9,981

  
1,000
11,584

Creditors: amounts falling due within one year
 6 
(3,471)
(12,807)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
 
 
(2,471)
 
 
(1,223)

Creditors: amounts falling due after more than one year
 7 
(81,647)
(123,704)

  

NET LIABILITIES
  
(84,118)
(124,927)


CAPITAL AND RESERVES
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
(85,118)
(125,927)

  
(84,118)
(124,927)


The director considers 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 period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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 statement of comprehensive income 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 on 7 March 2024.




S D MILLER
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
KEIMOS 1988 LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

1.ACCOUNTING POLICIES

 
1.1

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 2).

The following principal accounting policies have been applied:

 
1.2

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 3

 
KEIMOS 1988 LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

1.ACCOUNTING POLICIES (CONTINUED)

 
1.3

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.4

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.

 
1.5

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.

 
1.6

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.

 
1.7

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Page 4

 
KEIMOS 1988 LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

1.ACCOUNTING POLICIES (CONTINUED)


1.7
FINANCIAL INSTRUMENTS (CONTINUED)

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


2.



JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company’s accounting policies, which are described in note 1, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. 
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.


3.


EMPLOYEES




The average monthly number of employees, including directors, during the period was 1 (2022 - 1).

Page 5

 
KEIMOS 1988 LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

4.


DEBTORS

31 August
31 December
2023
2022
£
£


Other debtors
-
1,603



5.


CASH AND CASH EQUIVALENTS

31 August
31 December
2023
2022
£
£

Cash at bank and in hand
1,000
9,981



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31 August
31 December
2023
2022
£
£

Trade creditors
-
11,325

Other taxation and social security
3,471
832

Accruals and deferred income
-
650

3,471
12,807



7.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31 August
31 December
2023
2022
£
£

Amounts owed to group undertakings
81,647
123,704



8.


CONTROLLING PARTY

The parent company and ultimate controlling party is United Electronics Industries Services LLC, a company incorporated in the United States of America.


Page 6