Karis Holdings Limited 14403974 false 2023-04-01 2023-12-31 2023-12-31 The principal activity of the company is that of a real estate debt & insurance advisory. Digita Accounts Production Advanced 6.30.9574.0 true false true true 14403974 2023-04-01 2023-12-31 14403974 2023-12-31 14403974 bus:OrdinaryShareClass1 2023-12-31 14403974 core:CurrentFinancialInstruments 2023-12-31 14403974 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 14403974 core:AdditionsToInvestments 2023-12-31 14403974 bus:SmallEntities 2023-04-01 2023-12-31 14403974 bus:AuditExemptWithAccountantsReport 2023-04-01 2023-12-31 14403974 bus:FilletedAccounts 2023-04-01 2023-12-31 14403974 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2023-12-31 14403974 bus:RegisteredOffice 2023-04-01 2023-12-31 14403974 bus:Director1 2023-04-01 2023-12-31 14403974 bus:Director2 2023-04-01 2023-12-31 14403974 bus:OrdinaryShareClass1 2023-04-01 2023-12-31 14403974 bus:PrivateLimitedCompanyLtd 2023-04-01 2023-12-31 14403974 core:Subsidiary1 2023-04-01 2023-12-31 14403974 core:Subsidiary1 1 2023-04-01 2023-12-31 14403974 core:Subsidiary1 countries:AllCountries 2023-04-01 2023-12-31 14403974 countries:AllCountries 2023-04-01 2023-12-31 14403974 2022-10-07 2023-03-31 14403974 2023-03-31 14403974 bus:OrdinaryShareClass1 2023-03-31 14403974 core:CurrentFinancialInstruments 2023-03-31 14403974 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 14403974 core:Subsidiary1 1 2022-10-07 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14403974

Karis Holdings Limited

Unaudited Filleted Financial Statements

for the Period from 1 April 2023 to 31 December 2023

 

Karis Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Karis Holdings Limited

Company Information

Directors

N Christofi

D Antoniou

Registered office

120 Cockfosters Road
Barnet
EN4 0DZ

Accountants

Thomas Alexander & Co Limited
590 Green Lanes
Palmers Green
London
N13 5RY

 

Karis Holdings Limited

(Registration number: 14403974)
Balance Sheet as at 31 December 2023

Note

2023
£

2023
£

Fixed assets

 

Investments

4

2

-

Current assets

 

Debtors

5

187,979

-

Cash at bank and in hand

 

45,878

100

 

233,857

100

Creditors: Amounts falling due within one year

6

(350,301)

-

Net current (liabilities)/assets

 

(116,444)

100

Net (liabilities)/assets

 

(116,442)

100

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(116,542)

-

Shareholders' (deficit)/funds

 

(116,442)

100

For the financial period 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 members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

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 Board on 16 August 2024 and signed on its behalf by:
 

.........................................
D Antoniou
Director

 

Karis Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
120 Cockfosters Road
Barnet
EN4 0DZ

These financial statements were authorised for issue by the Board on 16 August 2024.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 financial statements have been prepared on a going concern basis, the validity of which is dependent upon the continuing support of the company creditors.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Karis Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 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.

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.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade 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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 10 (2023 - 1).

 

Karis Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 December 2023

4

Investments

2023
£

2023
£

Investments in subsidiaries

2

-

Subsidiaries

£

Cost or valuation

Additions

2

Provision

Carrying amount

At 31 December 2023

2

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2023

2023

Subsidiary undertakings

Karis Insurance Brokers Ltd

120 Cockfosters Road, Barnet, EN4 0DZ

UK

Ordinary shares

66.66%

0%

Subsidiary undertakings

Karis Insurance Brokers Ltd

The principal activity of Karis Insurance Brokers Ltd is insurance advisory & brokerage.

 

Karis Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 December 2023

5

Debtors

Current

Note

2023
£

2023
£

Trade debtors

 

27,872

-

Amounts owed by group undertakings and undertakings in which the company has a partcipating interest

8

76,798

-

Prepayments

 

44,973

-

Other debtors

 

38,336

-

   

187,979

-

6

Creditors

Creditors: amounts falling due within one year

2023
£

2023
£

Due within one year

Trade creditors

6,180

-

Taxation and social security

7,576

-

Accruals and deferred income

103,905

-

Other creditors

232,640

-

350,301

-

7

Share capital

Allotted, called up and fully paid shares

2023

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

8

Related party transactions

Included in debtors is an amount of £76,798 owed from Karis Insurance Brokers Ltd, a subsidiary of the company.