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REGISTERED NUMBER: NI072297 (Northern Ireland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

KicTeam Europe Limited

KicTeam Europe Limited (Registered number: NI072297)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


KicTeam Europe Limited

Company Information
for the year ended 31 December 2023







Directors: D Connell Jr
K A Graham
C L Sykes
A Connor
M Yacoubian





Registered office: A&L Goodbody Solicitors
6th Floor, 42-46 Fountain Street
Belfast
Co. Antrim
BT1 5EF





Registered number: NI072297 (Northern Ireland)





Accountants: Acre Accountancy Limited
Unit 2 Foley Works
Foley Industrial Estate
Hereford
Herefordshire
HR1 2SF

KicTeam Europe Limited (Registered number: NI072297)

Abridged Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,864 2,163
2,864 2,163

CURRENT ASSETS
Stocks 181,510 246,578
Debtors 171,264 121,676
Cash at bank 188,477 93,966
541,251 462,220
CREDITORS
Amounts falling due within one year (790,220 ) (720,257 )
NET CURRENT LIABILITIES (248,969 ) (258,037 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(246,105

)

(255,874

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (246,106 ) (255,875 )
SHAREHOLDERS' FUNDS (246,105 ) (255,874 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

KicTeam Europe Limited (Registered number: NI072297)

Abridged Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2024 and were signed on its behalf by:





M Yacoubian - Director


KicTeam Europe Limited (Registered number: NI072297)

Notes to the Financial Statements
for the year ended 31 December 2023


1. STATUTORY INFORMATION

KicTeam Europe Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements have been prepared on a going concern basis. The company is continuing to operate in difficult trading conditions, however the directors are of the opinion that the company will continue to be supported by the parent company and have therefore prepared the financial statements on a going concern basis. If this was not the case, adjustments would have to be made to reduce the value of assets to their recoverable amounts and to provide for further liabilities that might arise.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

KicTeam Europe Limited (Registered number: NI072297)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
Cost
At 1 January 2023
and 31 December 2023 746,900
Amortisation
At 1 January 2023
and 31 December 2023 746,900
Net book value

At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Totals
£   
Cost
At 1 January 2023 14,407
Additions 1,996
At 31 December 2023 16,403
Depreciation
At 1 January 2023 12,244
Charge for year 1,295
At 31 December 2023 13,539
Net book value
At 31 December 2023 2,864
At 31 December 2022 2,163

KicTeam Europe Limited (Registered number: NI072297)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 17,010 14,733
Between one and five years 2,835 17,189
19,845 31,922

7. ULTIMATE CONTROLLING PARTY

The controlling party is Inverness Graham.