IRIS Accounts Production v24.1.9.2 13002290 Board of Directors 1.1.23 31.12.23 31.12.23 31.7.24 0 0 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh130022902022-12-31130022902023-12-31130022902023-01-012023-12-31130022902021-12-31130022902022-01-012022-12-31130022902022-12-3113002290ns15:EnglandWales2023-01-012023-12-3113002290ns14:PoundSterling2023-01-012023-12-3113002290ns10:Director12023-01-012023-12-3113002290ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3113002290ns10:SmallEntities2023-01-012023-12-3113002290ns10:Audited2023-01-012023-12-3113002290ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3113002290ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3113002290ns10:FullAccounts2023-01-012023-12-3113002290ns10:Director22023-01-012023-12-3113002290ns10:Director32023-01-012023-12-3113002290ns10:CompanySecretary12023-01-012023-12-3113002290ns10:RegisteredOffice2023-01-012023-12-3113002290ns5:CurrentFinancialInstruments2023-12-3113002290ns5:CurrentFinancialInstruments2022-12-3113002290ns5:ShareCapital2023-12-3113002290ns5:ShareCapital2022-12-3113002290ns5:RetainedEarningsAccumulatedLosses2023-12-3113002290ns5:RetainedEarningsAccumulatedLosses2022-12-3113002290ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3113002290ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3113002290ns5:CurrentFinancialInstruments2023-01-012023-12-31
REGISTERED NUMBER: 13002290 (England and Wales)






















Financial Statements

for the Year Ended 31 December 2023

for

KB Afungi Limited

KB Afungi Limited (Registered number: 13002290)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KB Afungi Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: S Virgoli
M Oriolo
M Stoekenbroek





SECRETARY: S O'Sullivan





REGISTERED OFFICE: Broadoak Industrial Park Ashburton Road
Trafford Park
Manchester
M17 1RW





REGISTERED NUMBER: 13002290 (England and Wales)





AUDITORS: Bennett Brooks & Co Limited
Chartered Accountants
& Statutory Auditors
St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE

KB Afungi Limited (Registered number: 13002290)

Balance Sheet
31 December 2023

2023 2022
Notes £ £
CURRENT ASSETS
Debtors 4 181,628 192,717
Cash at bank 20,045 7,056
201,673 199,773
CREDITORS
Amounts falling due within one year 5 (276,338 ) (234,664 )
NET CURRENT LIABILITIES (74,665 ) (34,891 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(74,665

)

(34,891

)

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (74,667 ) (34,893 )
SHAREHOLDERS' FUNDS (74,665 ) (34,891 )

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





S Virgoli - Director


KB Afungi Limited (Registered number: 13002290)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

KB Afungi Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when goods have been despatched to the customer.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Share capital
Ordinary shares are classed as equity.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand and cash held with banks.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Amounts owed by group undertakings 181,052 191,280
VAT 576 1,437
181,628 192,717

KB Afungi Limited (Registered number: 13002290)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Amounts owed to group undertakings 261,338 218,707
Accrued expenses 15,000 15,957
276,338 234,664

Amounts owed to group undertakings relates to a loan that is unsecured, bears interest at a rate of 4% per annum, and is repayable upon demand.

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jason Leach FCA (Senior Statutory Auditor)
for and on behalf of Bennett Brooks & Co Limited

7. GOING CONCERN

These financial statements have been prepared on a going concern basis. The company continues to receive financial support from its parent company, Kerry Project Logistics (Italia) S.p.A, to enable it to meet its financial liabilities when they fall due for at least twelve months from the date of signing these financial statements.

8. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption contained under FRS 102 and has therefore not disclosed transactions or balances with other wholly entities which form part of the group.

The parent of the smallest group for which consolidated accounts are drawn up of which the company is a member, is Kerry Project Logistics (Italia) S.p.A., a company with a registered office at Via Quintiliano, 31/A, 20138,Milano, Italy.

The ultimate parent company is Kerry Logistics Network Limited, a company listed on the Hong Kong Stock Exchange.