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COMPANY REGISTRATION NUMBER: 12144692
Kitch Technologies Ltd
Filleted Unaudited Financial Statements
31 December 2023
Kitch Technologies Ltd
Financial Statements
Year ended 31 December 2023
Contents
Page
Officers and professional advisers
1
Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
Kitch Technologies Ltd
Officers and Professional Advisers
The board of directors
N G C C L Rodrigues
R D M Bento
P Huber
Company secretary
Oakwood Corporate Secretary Limited
Registered office
3rd Floor
1 Ashley Raod
Cheshire
WA14 2DT
Accountants
Complete Accounting Solutions
Chartered Certified Accountants
727-729 High Road
London
N12 0BP
Kitch Technologies Ltd
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Kitch Technologies Ltd
Year ended 31 December 2023
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 December 2023, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Complete Accounting Solutions Chartered Certified Accountants
727-729 High Road London N12 0BP
Kitch Technologies Ltd
Statement of Financial Position
31 December 2023
2023
2022
Note
Fixed assets
Investments
4
4,871,738
6,920,345
Current assets
Debtors
5
564,626
600,000
Cash at bank and in hand
211,836
315,726
---------
---------
776,462
915,726
Creditors: amounts falling due within one year
6
5,640
2,700
---------
---------
Net current assets
770,822
913,026
------------
------------
Total assets less current liabilities
5,642,560
7,833,371
------------
------------
Net assets
5,642,560
7,833,371
------------
------------
Capital and reserves
Called up share capital
184
184
Share premium account
3,499,845
3,499,845
Profit and loss account
2,142,531
4,333,342
------------
------------
Shareholders funds
5,642,560
7,833,371
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Kitch Technologies Ltd
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 19 September 2024 , and are signed on behalf of the board by:
R D M Bento
Director
Company registration number: 12144692
Kitch Technologies Ltd
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3rd Floor, 1 Ashley Raod, Cheshire, WA14 2DT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in euros, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date .
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
4. Investments
Other investments other than loans
Cost
At 1 January 2023 and 31 December 2023
12,300,012
-------------
Impairment
At 1 January 2023
5,379,667
Impairment losses
2,048,607
-------------
At 31 December 2023
7,428,274
-------------
Carrying amount
At 31 December 2023
4,871,738
-------------
At 31 December 2022
6,920,345
-------------
The above amounts represents shareholdings in Glovo and Delivery Hero SE.
5. Debtors
2023
2022
Other debtors
564,626
600,000
---------
---------
6. Creditors: amounts falling due within one year
2023
2022
Other creditors
5,640
2,700
-------
-------
7. Contingencies
Following on from the sale of the fixed asset investments in the year ended 31 December 2022, the company is due to receive more funds in respect of the sale based upon various goals as part of the agreement. The company and buyer are currently in talks to ascertain the value of the amounts due. The contingent asset in respect of this has not been recognised in the financial statements.