Silverfin false 30 July 2024 30 July 2024 Nikinder Baller Praxis 756,462 809,752 false true 31/12/2023 01/01/2023 31/12/2023 Paul Djorjde Karakusevic 16/11/2017 30 July 2024 The principal activity of the Company during the financial year was architectural and related sub consultancy and provision of office services to Karakusevic Carson LLP. 11067014 2023-12-31 11067014 bus:Director1 2023-12-31 11067014 2022-12-31 11067014 core:CurrentFinancialInstruments 2023-12-31 11067014 core:CurrentFinancialInstruments 2022-12-31 11067014 core:ShareCapital 2023-12-31 11067014 core:ShareCapital 2022-12-31 11067014 core:RetainedEarningsAccumulatedLosses 2023-12-31 11067014 core:RetainedEarningsAccumulatedLosses 2022-12-31 11067014 core:ComputerEquipment 2022-12-31 11067014 core:ComputerEquipment 2023-12-31 11067014 core:ImmediateParent core:CurrentFinancialInstruments 2023-12-31 11067014 core:ImmediateParent core:CurrentFinancialInstruments 2022-12-31 11067014 core:OtherMembersGroupNotDefinedElsewhere core:CurrentFinancialInstruments 2023-12-31 11067014 core:OtherMembersGroupNotDefinedElsewhere core:CurrentFinancialInstruments 2022-12-31 11067014 bus:OrdinaryShareClass1 2023-12-31 11067014 2023-01-01 2023-12-31 11067014 bus:FilletedAccounts 2023-01-01 2023-12-31 11067014 bus:SmallEntities 2023-01-01 2023-12-31 11067014 bus:Audited 2023-01-01 2023-12-31 11067014 2022-01-01 2022-12-31 11067014 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11067014 bus:Director1 2023-01-01 2023-12-31 11067014 core:ComputerEquipment core:TopRangeValue 2023-01-01 2023-12-31 11067014 core:ComputerEquipment 2023-01-01 2023-12-31 11067014 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 11067014 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11067014 (England and Wales)

KARAKUSEVIC CARSON SERVICES LIMITED

Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

KARAKUSEVIC CARSON SERVICES LIMITED

Financial Statements

For the financial year ended 31 December 2023

Contents

KARAKUSEVIC CARSON SERVICES LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
KARAKUSEVIC CARSON SERVICES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTOR Paul Djorjde Karakusevic
SECRETARY Laura Cobb
REGISTERED OFFICE Studio 501 37 Cremer St
Hackney
London
E2 8HD
England
United Kingdom
COMPANY NUMBER 11067014 (England and Wales)
AUDITOR Praxis
1 Poultry
London
EC2R 8EJ
United Kingdom
KARAKUSEVIC CARSON SERVICES LIMITED

BALANCE SHEET

As at 31 December 2023
KARAKUSEVIC CARSON SERVICES LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 64,414 0
64,414 0
Current assets
Debtors 4 2,285,426 1,779,266
Cash at bank and in hand 5 645,669 1,110,512
2,931,095 2,889,778
Creditors: amounts falling due within one year 6 ( 405,689) ( 550,420)
Net current assets 2,525,406 2,339,358
Total assets less current liabilities 2,589,820 2,339,358
Net assets 2,589,820 2,339,358
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 2,589,720 2,339,258
Total shareholder's funds 2,589,820 2,339,358

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Karakusevic Carson Services Limited (registered number: 11067014) were approved and authorised for issue by the Director on 30 July 2024. They were signed on its behalf by:

Paul Djorjde Karakusevic
Director
KARAKUSEVIC CARSON SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
KARAKUSEVIC CARSON SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Karakusevic Carson Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Studio 501 37 Cremer St, Hackney, London, E2 8HD, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for sub-consultant services provided in the normal course of business.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 75 89

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 January 2023 0 0
Additions 68,708 68,708
At 31 December 2023 68,708 68,708
Accumulated depreciation
At 01 January 2023 0 0
Charge for the financial year 4,294 4,294
At 31 December 2023 4,294 4,294
Net book value
At 31 December 2023 64,414 64,414
At 31 December 2022 0 0

4. Debtors

2023 2022
£ £
Amounts owed by Parent undertakings 2,283,129 1,768,016
Other debtors 2,297 11,250
2,285,426 1,779,266

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 645,669 1,110,512

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 3,958 57,587
Amounts owed to connected persons 175,041 175,041
Taxation and social security 197,661 278,923
Other creditors 29,029 38,869
405,689 550,420

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Other related party transactions

2023 2022
£ £
Karakusevic Carson LLP 2,283,129 1,768,016

9. Audit Opinion

The auditor's report on the accounts for the financial year ended 31 December 2023 was unqualified.

The audit report was signed by Nikinder Baller on behalf of Praxis.

10. Ultimate controlling party

The parent company is Karakusevic Carson Architects Limited (formerly Karakusevic Carson Limited) following the acquisition of 100% share capital in the Company from Karakusevic Carson LLP (formerly Karakusevic Carson Architects LLP) on 8 December 2024.

The ultimate controlling party is Paul Djorde Karakusevic by virtue of his shareholding in Karakusevic Carson Architects Limited.