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REGISTERED NUMBER: 09911054 (England and Wales)












KIUPI LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






KIUPI LTD (REGISTERED NUMBER: 09911054)

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


KIUPI LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mrs I Erkekidou
Mr P Kouvrakis





REGISTERED OFFICE: Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE





REGISTERED NUMBER: 09911054 (England and Wales)





ACCOUNTANTS: Christiansons Ltd
Chartered Certified Accountants
Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE

KIUPI LTD (REGISTERED NUMBER: 09911054)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes €    €    €    €   
FIXED ASSETS
Investments 4 13,685,210 13,685,210

CURRENT ASSETS
Investments 5 6,467,603 2,502,192
Cash at bank 2,596,488 4,533,272
9,064,091 7,035,464
CREDITORS
Amounts falling due within one year 6 6,293,387 9,554,606
NET CURRENT ASSETS/(LIABILITIES) 2,770,704 (2,519,142 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,455,914

11,166,068

CAPITAL AND RESERVES
Called up share capital 7 286,896 286,896
Retained earnings 16,169,018 10,879,172
SHAREHOLDERS' FUNDS 16,455,914 11,166,068

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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:





Mr P Kouvrakis - Director


KIUPI LTD (REGISTERED NUMBER: 09911054)

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


1. STATUTORY INFORMATION

Kiupi Ltd 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.

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.

The financial statements are prepared in Euro being the most relevant currency for the company.

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

KIUPI LTD (REGISTERED NUMBER: 09911054)

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


4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
€   
COST
At 1 January 2023
and 31 December 2023 13,685,210
NET BOOK VALUE
At 31 December 2023 13,685,210
At 31 December 2022 13,685,210

The Company's investments at the Balance Sheet date in the share capital of companies include the following:

Associated company

BETA CAE SYSTEMS INTERNATIONAL AG
Registered office: Switzerland
Nature of business: Holding Company & Other investments
%
Class of shares: holding
Ordinary 25.00
31.12.23 31.12.22
€    €   
Aggregate capital and reserves 73,231,621 75,148,163
Profit for the year 20,094,768 25,093,481

5. CURRENT ASSET INVESTMENTS
31.12.23 31.12.22
€    €   
Listed investments 6,467,603 2,502,192
Market value of listed investments at 31 December 2023 - € 6,467,603 (2022 - € 2,502,192 ).

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
€    €   
Other creditors 458,926 458,926
Directors' current accounts 5,811,705 9,080,443
Accrued expenses 22,756 15,237
6,293,387 9,554,606

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: €    €   
286,896 Ordinary €1 286,896 286,896

KIUPI LTD (REGISTERED NUMBER: 09911054)

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


8. ULTIMATE CONTROLLING PARTY

Mr Panagiotis Kouvrakis, the director, controls the company as a result of holding 100 percent of the voting rights of the issued share capital.