Registration number:
Kemcet Holdings Limited
for the Year Ended 31 December 2023
Pages for Filing with Registrar
Kemcet Holdings Limited
(Registration number: 12134696)
Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
|
Fixed assets |
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Investments |
|
|
|
Current assets |
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Debtors |
- |
|
|
Cash at bank and in hand |
|
|
|
|
|
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Creditors: Amounts falling due within one year |
( |
( |
|
Net current (liabilities)/assets |
( |
|
|
Net (liabilities)/assets |
( |
|
|
Capital and reserves |
|||
Called up share capital |
100 |
100 |
|
Retained earnings |
(196,519) |
506,176 |
|
Shareholders' (deficit)/funds |
(196,419) |
506,276 |
Kemcet Holdings Limited
(Registration number: 12134696)
Balance Sheet as at 31 December 2023
For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
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
......................................... |
Kemcet Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
General information |
The Company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
England
Principal activity
The principal activity of the Company is Activities of head offices and parent company to Kemcet Limited.
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. Financial reporting has converted back to FRS1021A from FRS 105 used last year.
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.
Going concern
The company has made a loss this year and has net current liabilities. The company is dependent on the financial support of its parent company to continue as a going concern, and the parent company has confirmed that it will continue to provide support to the UK company for the next 12 months.
Kemcet Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
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.
Financial instruments
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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.
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.
Kemcet Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 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.
Significant judgements and estimation uncertainty |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.
Staff numbers |
The average number of persons employed by the Company (including directors) during the year, was
Investments |
2023 |
2022 |
|
Investments in subsidiaries |
|
|
Subsidiaries |
£ |
Cost or valuation |
|
At 1 January 2023 |
|
Provision |
|
Carrying amount |
|
At 31 December 2023 |
|
At 31 December 2022 |
|
Debtors |
2023 |
2022 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
- |
|
- |
|
Kemcet Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
|
Due within one year |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
|
Other creditors |
|
|
Total trade and other creditors |
208,242 |
191,484 |
Kemcet Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Dividends |
2023 |
2022 |
|||
£ |
£ |
|||
Interim dividend of £ |
15,000 |
31,000 |
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