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Registration number: 05058221

KOIOS Group Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

KOIOS Group Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

KOIOS Group Limited

Company Information

Directors

Mr S Borwell-Fox

Mrs A Borwell-Fox

Registered office

32/33 Restdale House
Worcester
WR1 1EE

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

KOIOS Group Limited

(Registration number: 05058221)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

5

268,882

268,802

Current assets

 

Debtors

6

35,562

30,010

Cash at bank and in hand

 

3,027

917

 

38,589

30,927

Creditors: Amounts falling due within one year

7

(207,011)

(207,314)

Net current liabilities

 

(168,422)

(176,387)

Net assets

 

100,460

92,415

Capital and reserves

 

Called up share capital

8

70

70

Capital redemption reserve

82

82

Retained earnings

100,308

92,263

Shareholders' funds

 

100,460

92,415

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 April 2024 and signed on its behalf by:
 

.........................................
Mr S Borwell-Fox
Director

   
 

KOIOS Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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:
32/33 Restdale House
Worcester
WR1 1EE

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.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

KOIOS Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

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

Office Equipment

33% Reducing Balance

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

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.

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.

 

KOIOS Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2022

4,277

4,277

At 30 June 2023

4,277

4,277

Depreciation

At 1 July 2022

4,277

4,277

At 30 June 2023

4,277

4,277

Carrying amount

At 30 June 2023

-

-

 

KOIOS Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

5

Investments

2023
£

2022
£

Investments in subsidiaries

268,880

268,800

Investments in associates

2

2

268,882

268,802

Subsidiaries

£

Cost or valuation

At 1 July 2022

268,800

Additions

80

At 30 June 2023

268,880

Provision

Carrying amount

At 30 June 2023

268,880

At 30 June 2022

268,800

Associates

£

Cost

At 1 July 2022

2

Provision

Carrying amount

At 30 June 2023

2

At 30 June 2022

2

 

KOIOS Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Cybx

32/33 Restdale House Foregate Street Worcester WR1 1EE

United Kingdom

Ordinary

80%

0%

Borwell Limited

40-41 Foregate Street, Worcester, WR1 1EE

Ordinary

100%

100%

The Company owns 80% of the Ordinary share capital of Cybx Ltd which was incorporated on 21.06.23, and 100% of the Ordinary share capital of Borwell Limited which went into voluntary liqudiation on 12 October 2023.
 

6

Debtors

Current

2023
£

2022
£

Trade debtors

5,562

-

Other debtors

30,000

30,010

 

35,562

30,010

 

KOIOS Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to related parties

2,836

137

Taxation and social security

 

704

-

Other creditors

 

203,471

207,177

 

207,011

207,314

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £0.001 each

69,500

69.50

69,500

69.50