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REGISTERED NUMBER: 02620484 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

KTS GROUP LIMITED

KTS GROUP LIMITED (REGISTERED NUMBER: 02620484)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Abridged Statement of Financial Position 1

Notes to the Financial Statements 3


KTS GROUP LIMITED (REGISTERED NUMBER: 02620484)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,586,010 1,601,483
Investments 6 12,700,221 12,700,321
Investment property 7 2,637,835 -
16,924,066 14,301,804

CURRENT ASSETS
Stocks 1,662,527 1,512,639
Debtors 13,457,343 930,531
Cash at bank 62,640 76,685
15,182,510 2,519,855
CREDITORS
Amounts falling due within one year 20,218,310 3,550,004
NET CURRENT LIABILITIES (5,035,800 ) (1,030,149 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,888,266

13,271,655

CREDITORS
Amounts falling due after more than one
year

(879,019

)

(1,892,090

)

PROVISIONS FOR LIABILITIES (40,750 ) (40,750 )
NET ASSETS 10,968,497 11,338,815

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 10,958,497 11,328,815
SHAREHOLDERS' FUNDS 10,968,497 11,338,815

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

KTS GROUP LIMITED (REGISTERED NUMBER: 02620484)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
31ST 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 Income Statement and an abridged Statement of Financial Position for the year ended 31st 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 19th September 2024 and were signed on its behalf by:




T Sharif - Director



S D Sharif - Director


KTS GROUP LIMITED (REGISTERED NUMBER: 02620484)

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

1. STATUTORY INFORMATION

KTS Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02620484

Registered office: Unit F4 Bluegate Park
Hubert Road
Brentwood
Essex
CM14 4JE

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 as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net rental income received, excluding value added tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 25% on reducing balance

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

Investment property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks
Stocks which comprise of development properties are valued at the lower of cost and estimated net realisable value.

Stock includes principally the property cost, construction costs, project management costs and all associated costs incurred during the course of development. Net realisable value is the price at which the stock can be realised in the normal course of business, less further costs to completion of sale. Interest and loan arrangement fees payable to acquire properties for resale is written off as incurred.


KTS GROUP LIMITED (REGISTERED NUMBER: 02620484)

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

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st January 2023
and 31st December 2023 7,301
AMORTISATION
At 1st January 2023
and 31st December 2023 7,301
NET BOOK VALUE

At 31st December 2023 -
At 31st December 2022 -

KTS GROUP LIMITED (REGISTERED NUMBER: 02620484)

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

5. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1st January 2023 1,839,512
Additions 75,696
Disposals (103,131 )
At 31st December 2023 1,812,077
DEPRECIATION
At 1st January 2023 238,029
Charge for year 42,699
Eliminated on disposal (54,661 )
At 31st December 2023 226,067
NET BOOK VALUE
At 31st December 2023 1,586,010
At 31st December 2022 1,601,483

Cost or valuation at 31st December 2023 is represented by:

Totals
£   
Valuation in 2016 373,734
Valuation in 2017 65,897
Valuation in 2022 147,000
Cost 1,225,446
1,812,077

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1st January 2023 12,700,321
Disposals (100 )
At 31st December 2023 12,700,221
NET BOOK VALUE
At 31st December 2023 12,700,221
At 31st December 2022 12,700,321

KTS GROUP LIMITED (REGISTERED NUMBER: 02620484)

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

6. FIXED ASSET INVESTMENTS - continued

The company owns the entire issued share capital of the following companies:

COMPANY NATURE OF BUSINESS

Dream Point Homes Ltd Property Development
Flick Fashions Ltd (disposed on 12/7/23) Wholesale of fashion wear and accessories
KTS London Ltd Financing
KTS Wood Green Ltd Property Investment




7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 2,637,835
At 31st December 2023 2,637,835
NET BOOK VALUE
At 31st December 2023 2,637,835

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 2,866,198 2,866,197

The following securities are in place for other loans:

First legal charge over the entire share capital of KTS Properties Ltd, a company controlled by the directors.

A floating charge over a property owned by KTS Properties Ltd.

9. CONTINGENT LIABILITIES

There were no contingent liabilities at either the beginning or end of the financial year.

10. RELATED PARTY DISCLOSURES

As part of restructuring,on 12 July 2023 the company became a wholly owned subsidiary of KTS Global Limited, a company registered in England & Wales..

The ultimate controlling parties are the directors and Sharif family members

At the end of the year the company owed KTS Pension Fund £2,866,198 (2022:£2,866,198) .

KTS Pension Fund is controlled by the directors of KTS Group Limited who are also the trustees.