Silverfin false false 31/12/2023 01/01/2023 31/12/2023 L A Appleby 30/05/2023 08/10/2014 S J M Haworth 30/05/2023 J A Townsend 03/11/2014 06 August 2024 The principal activity of the Company during the financial year was that of a commercial real estate brokerage. 09253897 2023-12-31 09253897 bus:Director1 2023-12-31 09253897 bus:Director2 2023-12-31 09253897 bus:Director3 2023-12-31 09253897 2022-12-31 09253897 core:CurrentFinancialInstruments 2023-12-31 09253897 core:CurrentFinancialInstruments 2022-12-31 09253897 core:ShareCapital 2023-12-31 09253897 core:ShareCapital 2022-12-31 09253897 core:RetainedEarningsAccumulatedLosses 2023-12-31 09253897 core:RetainedEarningsAccumulatedLosses 2022-12-31 09253897 core:LeaseholdImprovements 2022-12-31 09253897 core:FurnitureFittings 2022-12-31 09253897 core:ComputerEquipment 2022-12-31 09253897 core:LeaseholdImprovements 2023-12-31 09253897 core:FurnitureFittings 2023-12-31 09253897 core:ComputerEquipment 2023-12-31 09253897 core:UltimateParent core:CurrentFinancialInstruments 2023-12-31 09253897 core:UltimateParent core:CurrentFinancialInstruments 2022-12-31 09253897 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2023-12-31 09253897 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2022-12-31 09253897 bus:OrdinaryShareClass1 2023-12-31 09253897 core:WithinOneYear 2023-12-31 09253897 core:WithinOneYear 2022-12-31 09253897 core:BetweenOneFiveYears 2023-12-31 09253897 core:BetweenOneFiveYears 2022-12-31 09253897 2023-01-01 2023-12-31 09253897 bus:FilletedAccounts 2023-01-01 2023-12-31 09253897 bus:SmallEntities 2023-01-01 2023-12-31 09253897 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09253897 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09253897 bus:Director1 2023-01-01 2023-12-31 09253897 bus:Director2 2023-01-01 2023-12-31 09253897 bus:Director3 2023-01-01 2023-12-31 09253897 core:LeaseholdImprovements core:TopRangeValue 2023-01-01 2023-12-31 09253897 core:FurnitureFittings core:TopRangeValue 2023-01-01 2023-12-31 09253897 core:ComputerEquipment core:TopRangeValue 2023-01-01 2023-12-31 09253897 2022-01-01 2022-12-31 09253897 core:LeaseholdImprovements 2023-01-01 2023-12-31 09253897 core:FurnitureFittings 2023-01-01 2023-12-31 09253897 core:ComputerEquipment 2023-01-01 2023-12-31 09253897 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 09253897 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09253897 (England and Wales)

KONTOR REAL ESTATE LIMITED

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

KONTOR REAL ESTATE LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

KONTOR REAL ESTATE LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
KONTOR REAL ESTATE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 35,590 48,757
35,590 48,757
Current assets
Debtors 4 740,495 747,282
Cash at bank and in hand 332,044 707,915
1,072,539 1,455,197
Creditors: amounts falling due within one year 5 ( 287,111) ( 888,833)
Net current assets 785,428 566,364
Total assets less current liabilities 821,018 615,121
Provision for liabilities ( 7,066) ( 9,841)
Net assets 813,952 605,280
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 813,852 605,180
Total shareholder's funds 813,952 605,280

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 financial statements of Kontor Real Estate Limited (registered number: 09253897) were approved and authorised for issue by the Board of Directors on 06 August 2024. They were signed on its behalf by:

S J M Haworth
Director
KONTOR REAL ESTATE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
KONTOR REAL ESTATE 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

Kontor Real Estate 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 33 Gresse Street, London, W1T 1QU, 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 directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have 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.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

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 Statement of Financial Position.

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 Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Leasehold improvements 5 years straight line
Fixtures and fittings 4 years straight line
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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 14 18

3. Tangible assets

Leasehold improve-
ments
Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 January 2023 7,118 61,964 33,908 102,990
Additions 0 0 403 403
At 31 December 2023 7,118 61,964 34,311 103,393
Accumulated depreciation
At 01 January 2023 0 27,216 27,017 54,233
Charge for the financial year 1,424 9,143 3,003 13,570
At 31 December 2023 1,424 36,359 30,020 67,803
Net book value
At 31 December 2023 5,694 25,605 4,291 35,590
At 31 December 2022 7,118 34,748 6,891 48,757

4. Debtors

2023 2022
£ £
Trade debtors 217,194 226,456
Amounts owed by Group undertakings 0 13
Amounts owed by Ultimate Parent undertakings 39,358 0
Amounts owed by fellow subsidiaries 39,266 0
Amounts owed by directors 47,482 98
Prepayments and accrued income 328,889 495,578
Other debtors 68,306 25,137
740,495 747,282

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 85,082 28,404
Accruals 51,120 472,542
Taxation and social security 147,026 382,207
Other creditors 3,883 5,680
287,111 888,833

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
10,000 Ordinary shares of £ 0.01 each 100 100

7. Financial commitments

Commitments

Capital commitments are as follows:

2023 2022
£ £
Contracted for but not provided for:
Other 678,640 0

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
within one year 169,660 0
between one and five years 508,980 0
678,640 0

The Company has entered into a lease of office space in the financial year.

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2023 2022
£ £
Unpaid contributions due to the fund (inc. in other creditors) 1,633 835

8. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Amounts owed by directors 47,481 98

Advances were made to the directors during the year totalling £50,000. £3,694 was credited to directors in respect of a refund relating to a dissolved company. Interest has been charged at 2.25% totalling £1,175. The amount outstanding at the year end was £47,481.