Company No:
Contents
31.12.2023 | 31.12.2022 | |||
£ | £ | |||
Current assets | ||||
Debtors | ||||
- due within one year | 3 |
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- due after more than one year | 3 |
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Cash at bank and in hand |
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19,041,438 | 34,903,827 | |||
Creditors: amounts falling due within one year | 4 | (
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Net current liabilities | (693,077) | (56,263) | ||
Total assets less current liabilities | (693,077) | (56,263) | ||
Net liabilities | (
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Capital and reserves | ||||
Called-up share capital | 5 |
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Profit and loss account | (
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Total shareholder's deficit | (
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Directors' responsibilities:
The financial statements of Kvika Credit Ltd (registered number:
Iris Arna Johannsdottir
Director |
Andri Orn Gunnarsson
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
Kvika Credit Ltd (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 103 Nations House, Wigmore Street, London, W1U 1QS, 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 £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £693,077. The company is supported through loans from the Parent Company. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the company. After making enquiries, the directors believe that any foreseeable debts can be met 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.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Year ended 31.12.2023 |
Period from 05.05.2022 to 31.12.2022 |
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Number | Number | ||
Monthly average number of persons employed by the company during the year, including directors |
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31.12.2023 | 31.12.2022 | ||
£ | £ | ||
Debtors: amounts falling due within one year | |||
Trade debtors |
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Amounts owed by connected companies |
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Other debtors |
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Debtors: amounts falling due after more than one year | |||
Trade debtors |
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31.12.2023 | 31.12.2022 | ||
£ | £ | ||
Amounts owed to parent undertakings |
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Amounts owed to connected companies |
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Other creditors |
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31.12.2023 | 31.12.2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Parent Company:
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Katrínartún 2, 105 Reykjavík, Iceland |