Company Registration No. 13454044 (England and Wales)
Kennek Solutions Ltd
Unaudited accounts
for the year ended 31 March 2024
Kennek Solutions Ltd
Unaudited accounts
Contents
Kennek Solutions Ltd
Company Information
for the year ended 31 March 2024
Directors
Xavier De Pauw
Thibault Lancksweert
Edmund Parsons
Company Number
13454044 (England and Wales)
Registered Office
25 Wilton Road
Victoria
London
SW1V 1LW
Accountants
Sleek Accounting Ltd
107 Kirkgate
Leeds
West Yorkshire
LS1 6DP
Kennek Solutions Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
31,439
17,180
Cash at bank and in hand
3,987,575
818,690
Creditors: amounts falling due within one year
(174,814)
(214,357)
Net current assets
4,515,633
829,239
Total assets less current liabilities
4,547,072
846,419
Creditors: amounts falling due after more than one year
-
(2,024,993)
Net assets/(liabilities)
4,547,072
(1,178,574)
Called up share capital
229
131
Share premium
11,050,067
1,829,755
Profit and loss account
(6,503,224)
(3,008,460)
Shareholders' funds
4,547,072
(1,178,574)
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by
Thibault Lancksweert
Director
Company Registration No. 13454044
Kennek Solutions Ltd
Notes to the Accounts
for the year ended 31 March 2024
Kennek Solutions Ltd is a private company, limited by shares, registered in England and Wales, registration number 13454044. The registered office is 25 Wilton Road, Victoria, London, SW1V 1LW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% straight line
Expenditure on research and development is written off in the year in which it is incurred.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Kennek Solutions Ltd
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2023
654
20,801
21,455
At 31 March 2024
654
43,884
44,538
At 1 April 2023
58
4,217
4,275
Charge for the year
119
8,705
8,824
At 31 March 2024
177
12,922
13,099
At 31 March 2024
477
30,962
31,439
At 31 March 2023
596
16,584
17,180
Amounts falling due within one year
Trade debtors
14,400
3,600
Accrued income and prepayments
194,611
186,679
Other debtors
434,655
7,164
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
87,922
212,582
Other creditors
4,824
1,775
7
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
-
2,024,993
Allotted, called up and fully paid:
2,288,314 Ordinary shares of £0.0001 each
228.83
131.80
Shares issued during the period:
970,295 Ordinary shares of £0.0001 each
97.02
Kennek Solutions Ltd
Notes to the Accounts
for the year ended 31 March 2024
9
Average number of employees
During the year the average number of employees was 13 (2023: 10).