IRIS Accounts Production v24.2.0.383 02450499 director 1.1.23 31.12.23 31.12.23 21.8.24 0 0 false true false false true false Auditors Opinion Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh024504992022-12-31024504992023-12-31024504992023-01-012023-12-31024504992021-12-31024504992022-01-012022-12-31024504992022-12-3102450499ns15:EnglandWales2023-01-012023-12-3102450499ns14:PoundSterling2023-01-012023-12-3102450499ns10:Director12023-01-012023-12-3102450499ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3102450499ns10:SmallEntities2023-01-012023-12-3102450499ns10:Audited2023-01-012023-12-3102450499ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3102450499ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3102450499ns10:FullAccounts2023-01-012023-12-3102450499ns10:OrdinaryShareClass12023-01-012023-12-3102450499ns10:RegisteredOffice2023-01-012023-12-3102450499ns5:CurrentFinancialInstruments2023-12-3102450499ns5:CurrentFinancialInstruments2022-12-3102450499ns5:ShareCapital2023-12-3102450499ns5:ShareCapital2022-12-3102450499ns5:RetainedEarningsAccumulatedLosses2023-12-3102450499ns5:RetainedEarningsAccumulatedLosses2022-12-3102450499ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 02450499 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

AL KHALEEJIAH (UK) LIMITED

AL KHALEEJIAH (UK) LIMITED (REGISTERED NUMBER: 02450499)

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


AL KHALEEJIAH (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: S H Aldowais





REGISTERED OFFICE: 10th Floor, Building 7 Chiswick Park
566 Chiswick High Road
London
W4 5YG





REGISTERED NUMBER: 02450499 (England and Wales)





AUDITORS: Haines Watts, Statutory Auditor
Chartered Accountants
The Lightbox
87 Castle Street
Reading
Berkshire
RG1 7SN

AL KHALEEJIAH (UK) LIMITED (REGISTERED NUMBER: 02450499)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £
CURRENT ASSETS
Debtors 4 324,786 315,617

CREDITORS
Amounts falling due within one year 5 108,819 99,999
NET CURRENT ASSETS 215,967 215,618
TOTAL ASSETS LESS CURRENT
LIABILITIES

215,967

215,618

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 215,867 215,518
SHAREHOLDERS' FUNDS 215,967 215,618

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 20 August 2024 and were signed by:





S H Aldowais - Director


AL KHALEEJIAH (UK) LIMITED (REGISTERED NUMBER: 02450499)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Al Khaleejiah (Uk) 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.

The financial statements are prepared in pounds Sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest '£'.

2. ACCOUNTING POLICIES

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.

The financial statements have been prepared on a going concern basis under the historical cost convention.

The Company meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it in accordance with paragraph 1.12 of FRS 102. Exemptions have been taken in relation to:

- Financial instruments
- Presentation of a cash flow statement
- Compensation of key management personnel

Al Khaleejiah (UK) Limited is a wholly owned subsidiary of Al Khaleejiah Advertising & Public Relations Co. Ltd and the results of Al Khaleejiah (UK) Limited are included in the consolidated financial statements of Al Khaleejiah Advertising & Public Relations Co. Ltd which are available from PO Box 14699, Makkah Road, Riyadh, 21434, Saudi Arabia.

The principle accounting policies adopted are set out below.

Going concern
The Company has generated an operating profit, and has positive net current assets and shareholder's funds. The director has at the time of approving the financial statements, a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the director has continued to adopt the going concern basis of accounting in preparing the financial statements.

AL KHALEEJIAH (UK) LIMITED (REGISTERED NUMBER: 02450499)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Turnover
Turnover comprises amounts receivable for the provision of advertising services, net of trade discounts, value added tax and other sales related taxes. Costs incurred are recharged to the Company's parent Company after including an agreed profit element of 10%. All turnover arises from continuing activities in the United Kingdom.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

Financial assets
Financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method less impairment cost unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Financial liabilities
Financial liabilities are initially measured at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the Company's obligations are discharged, cancelled, or they expire.

Equity instruments
Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Taxation
The tax expense represents the sum of the tax currently payable.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or dedeuctible in other years and it furthers excludes items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Related party transactions
The Company discloses transactions with related parties which are not wholly owned within the same Group. Where appropriate, transactions of a similar nature are aggregated unless, in the opinion of the director, separate disclosure is necessary to understand the effect of the transactions on the financial statements.

AL KHALEEJIAH (UK) LIMITED (REGISTERED NUMBER: 02450499)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


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 324,786 315,617

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Amounts owed to group undertakings 91,857 88,038
Taxation and social security 462 461
Other creditors 16,500 11,500
108,819 99,999

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100

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

The Report of the Auditors was unqualified.

Mark Newbold FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts, Statutory Auditor

8. RELATED PARTY TRANSACTIONS

The Company has not entered into related party transactions during the year other than with wholly owned group Companies. In accordance with FRS 102 therefore these transactions have not been disclosed.

Saudi Research and Media Group has provided the company with a guarantee that the amounts owed by group undertakings will be settled by Saudi Research and Media Group in the event of loan not being prepared by the undertaking.

AL KHALEEJIAH (UK) LIMITED (REGISTERED NUMBER: 02450499)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


9. CONTROLLING PARTY

The Company's immediate parent undertaking is Al Khaleejiah Advertising & Public Relations Co. Limited, a Company registered in Saudi Arabia, PO Box 22304, Makkah Road, Riyadh, 11495, Saudi Arabia. This is the smallest group in which the Company's results are included.

The directors consider the Company's ultimate parent undertaking and controlling party to be Saudi Research and Media Group, which is incorporated and registered in the Kingdom of Saudi Arabia. Therefore, the parent undertaking of the largest group of companies into which the results of the Company are consolidated is Saudi Research and Media Group. Copies of its financial statements, which include the Company, are available from PO Box 53108, Riyadh 11583, Saudi Arabia.

10. DIRECTOR'S REMUNERATION

The director's remuneration for the current year is paid by the ultimate Parent Company Saudi Research and Media Group.