Silverfin false false 31/12/2023 01/01/2023 31/12/2023 E. I Jankel 29/11/2011 R. L. Jankel 29/11/2011 S. R. Jankel 28/04/2023 01/09/2018 S. A. Mazzullo 19/12/2011 I. K. Mccartney 19/12/2011 23 September 2024 The principal activity of the Company during the financial year was that of distribution of packaging film and machinery. 07863877 2023-12-31 07863877 bus:Director1 2023-12-31 07863877 bus:Director2 2023-12-31 07863877 bus:Director3 2023-12-31 07863877 bus:Director4 2023-12-31 07863877 bus:Director5 2023-12-31 07863877 2022-12-31 07863877 core:CurrentFinancialInstruments 2023-12-31 07863877 core:CurrentFinancialInstruments 2022-12-31 07863877 core:ShareCapital 2023-12-31 07863877 core:ShareCapital 2022-12-31 07863877 core:RetainedEarningsAccumulatedLosses 2023-12-31 07863877 core:RetainedEarningsAccumulatedLosses 2022-12-31 07863877 core:PlantMachinery 2022-12-31 07863877 core:Vehicles 2022-12-31 07863877 core:FurnitureFittings 2022-12-31 07863877 core:ComputerEquipment 2022-12-31 07863877 core:PlantMachinery 2023-12-31 07863877 core:Vehicles 2023-12-31 07863877 core:FurnitureFittings 2023-12-31 07863877 core:ComputerEquipment 2023-12-31 07863877 bus:OrdinaryShareClass1 2023-12-31 07863877 2023-01-01 2023-12-31 07863877 bus:FilletedAccounts 2023-01-01 2023-12-31 07863877 bus:SmallEntities 2023-01-01 2023-12-31 07863877 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07863877 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07863877 bus:Director1 2023-01-01 2023-12-31 07863877 bus:Director2 2023-01-01 2023-12-31 07863877 bus:Director3 2023-01-01 2023-12-31 07863877 bus:Director4 2023-01-01 2023-12-31 07863877 bus:Director5 2023-01-01 2023-12-31 07863877 core:PlantMachinery 2023-01-01 2023-12-31 07863877 core:Vehicles core:TopRangeValue 2023-01-01 2023-12-31 07863877 core:FurnitureFittings 2023-01-01 2023-12-31 07863877 core:ComputerEquipment core:TopRangeValue 2023-01-01 2023-12-31 07863877 2022-01-01 2022-12-31 07863877 core:Vehicles 2023-01-01 2023-12-31 07863877 core:ComputerEquipment 2023-01-01 2023-12-31 07863877 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 07863877 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07863877 (England and Wales)

S KEMPNER LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

S KEMPNER LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

S KEMPNER LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
S KEMPNER LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 52,041 55,067
52,041 55,067
Current assets
Stocks 590,655 733,865
Debtors 4 1,555,505 2,403,389
Cash at bank and in hand 285,857 143,073
2,432,017 3,280,327
Creditors: amounts falling due within one year 5 ( 390,926) ( 1,307,667)
Net current assets 2,041,091 1,972,660
Total assets less current liabilities 2,093,132 2,027,727
Net assets 2,093,132 2,027,727
Capital and reserves
Called-up share capital 6 120 120
Profit and loss account 2,093,012 2,027,607
Total shareholders' funds 2,093,132 2,027,727

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.

Directors' responsibilities:

The financial statements of S Kempner Limited (registered number: 07863877) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

R. L. Jankel
Director

23 September 2024

S KEMPNER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
S KEMPNER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

S Kempner Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 5 years straight line
Fixtures and fittings 20 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the company during the year, including directors 9 7

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 January 2023 77,934 41,795 20,607 38,033 178,369
Additions 0 0 10,195 0 10,195
At 31 December 2023 77,934 41,795 30,802 38,033 188,564
Accumulated depreciation
At 01 January 2023 65,964 697 18,608 38,033 123,302
Charge for the financial year 3,990 8,359 872 0 13,221
At 31 December 2023 69,954 9,056 19,480 38,033 136,523
Net book value
At 31 December 2023 7,980 32,739 11,322 0 52,041
At 31 December 2022 11,970 41,098 1,999 0 55,067

4. Debtors

2023 2022
£ £
Trade debtors 470,314 653,017
Prepayments and accrued income 769,557 656,125
Other debtors 315,634 1,094,247
1,555,505 2,403,389

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 34,007 54,721
Accruals and deferred income 56,208 66,530
Taxation and social security 154,227 245,461
Other creditors 146,484 940,955
390,926 1,307,667

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
120 Ordinary shares of £ 1.00 each 120 120

7. Financial commitments

Pensions

The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

2023 2022
£ £
Unpaid contributions due to the fund (inc. in other creditors) 2,192 2,249

8. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Included in other creditors is a balance owed to a director. This balance is unsecured and interest free with no fixed repayment terms. 91,100 91,100

Other related party transactions

2023 2022
£ £
Included in other creditors is a balance owed to a company under common control. This balance is unsecured and interest free with no fixed repayment terms. 0 777,262
Included in other debtors is a balance owed from a company under common control. This balance is unsecured and interest free with no fixed repayment terms. 269,634 0