Company registration number 11057139 (England and Wales)
KI PAL LIMITED
Unaudited financial statements
For the year ended 31 December 2023
KI PAL LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
KI PAL LIMITED
BALANCE SHEET
As at 31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
9,600
1
Cash at bank and in hand
40,483
33,139
50,083
33,140
Creditors: amounts falling due within one year
4
(50,082)
(33,139)
Net current assets
1
1
Capital and reserves
Called up share capital
1
1
The notes on pages 2 to 3 form part of these financial statements.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 14 August 2024 and are signed on its behalf by:
Mrs H J Enright
Director
Company Registration No. 11057139
KI PAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2023
- 2 -
1
Accounting policies
Company information
KI Pal Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ashcombe Court, Woolsack Way, Godalming, Surrey, GU7 1LQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents income receivable from theatrical productions, net of VAT and other sales related taxes. Turnover is recognised in the period in which the performance occurred.
2
Employees
2023
2022
Number
Number
Total
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
9,600
Other debtors
1
9,600
1
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
15
15
Amounts owed to group undertakings
6,453
491
Other creditors
38,164
22,324
Accruals and deferred income
5,450
10,309
50,082
33,139
KI PAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (continued)
For the year ended 31 December 2023
- 3 -
5
Related party transactions
Balances with related parties
The following amounts were outstanding at the reporting end date:
Amounts owed by
Amounts owed to
related parties
related parties
2023
2022
2023
2022
£
£
£
£
Entities with control, joint control or significant influence over the company
6,453
491
6
Parent company
The company’s immediate parent is Trafalgar Theatre Productions Limited, a company incorporated in the United Kingdom and registered in England and Wales.
However, the directors of Trafalgar Theatre Productions Limited do not consider that the company controls KI Pal Limited. The accounts for the smallest group for which consolidated accounts are prepared and which include Trafalgar Theatre Productions Limited include the following statement, “KI Pal Limited is not considered to be an entity over which any controls or significant influence is exerted by the group”.
The directors of KI Pal Limited concur with that assessment and do not consider that there is a controlling party. Therefore, the directors consider it appropriate to take advantage of such exemptions as are available to a company which is not a subsidiary company.
The ultimate controlling party is Barings Asset-Based Income Fund (US) LP, by virtue of its 82.98% holding in the issued share capital of Trafalgar Entertainment Group Limited.