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Registration number: 09243620

KMFK Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2023

 

KMFK Ltd

Contents

Company Information

1

Director's Report

2

Abridged Statement of Financial Position

3

Statement of Changes in Equity

4

Notes to the Unaudited Abridged Financial Statements

5 to 8

 

KMFK Ltd

Company Information

Director

Pietro Marini

Company secretary

Lincoln Secretaries Limited

Registered office

12 Bridewell Place
Third Floor East
London
EC4V 6AP

 

KMFK Ltd

Director's Report for the Year Ended 31 December 2023

The director presents his report and the abridged financial statements for the year ended 31 December 2023.

Director of the company

The director who held office during the year was as follows:

Pietro Marini

Principal activity

The principal activity of the company is that of management consultancy activities other than financial management.

Small companies provision statement

This report has 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.

Approved and authorised by the director on 13 September 2024
 

.........................................
Lincoln Secretaries Limited
Company secretary

 

KMFK Ltd

(Registration number: 09243620)
Abridged Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

9,405

9,405

Other financial assets

5

143

929

 

9,548

10,334

Current assets

 

Cash at bank and in hand

 

3,006

1,128

Creditors: Amounts falling due within one year

(16,194)

(16,055)

Net current liabilities

 

(13,188)

(14,927)

Total assets less current liabilities

 

(3,640)

(4,593)

Creditors: Amounts falling due after more than one year

-

(664)

Accruals and deferred income

 

(450)

(450)

Net liabilities

 

(4,090)

(5,707)

Capital and reserves

 

Called up share capital

200

100

Retained earnings

(4,290)

(5,807)

Shareholders' deficit

 

(4,090)

(5,707)

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.

Director's responsibilities:

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

The director acknowledges his 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.

All of the company’s members have consented to the preparation of an Abridged Income Statement and an Abridged Statement of Financial Position in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 13 September 2024
 

.........................................
Pietro Marini
Director

 

KMFK Ltd

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

100

(5,807)

(5,707)

Profit for the year

-

1,517

1,517

New share capital subscribed

100

-

100

At 31 December 2023

200

(4,290)

(4,090)

Share capital
£

Retained earnings
£

Total
£

At 1 January 2022

100

(5,199)

(5,099)

Loss for the year

-

(608)

(608)

At 31 December 2022

100

(5,807)

(5,707)

 

KMFK Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
12 Bridewell Place
Third Floor East
London
EC4V 6AP

These financial statements were authorised for issue by the director on 13 September 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 abridged 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 abridged 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 accounts have been prepared on a going concern basis that the Member will continue to support the company.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

KMFK Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

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.

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 merchandise sold or 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.

 

KMFK Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

4

Investments

Total
£

Cost or valuation

At 1 January 2023

9,405

Provision

Carrying amount

At 31 December 2023

9,405

At 31 December 2022

9,405

2023
£

2022
£

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

2022

Subsidiary undertakings

White Echo Ltd

12 Bridewell Place, Third Floor East, London, United Kingdom, EC4V 6AP

England and Wales

Ordinary

100%

100%

Subsidiary undertakings

White Echo Ltd

The principal activity of White Echo Ltd is providing private equity consulting services. The loss for the financial period of White Echo Ltd was £2,253 and the aggregate amount of capital and reserves at the end of the period was £(5,240).

 

KMFK Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 January 2023

43

43

Disposals

100

100

At 31 December 2023

143

143

Impairment

Carrying amount

At 31 December 2023

143

143