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REGISTERED NUMBER: 03435408 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31st December 2023

for

WILD REPUBLIC UK LTD

WILD REPUBLIC UK LTD (REGISTERED NUMBER: 03435408)






Contents of the Financial Statements
for the year ended 31st December 2023




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


WILD REPUBLIC UK LTD

Company Information
for the year ended 31st December 2023







DIRECTORS: G B Pillai
Mrs K Pillai
V B Chandran
J P C Ensor





REGISTERED OFFICE: Suffolk House
George Street
Croydon
Surrey
CR0 0YN





REGISTERED NUMBER: 03435408 (England and Wales)





ACCOUNTANTS: Simpson Wreford & Partners
Chartered Accountants
Suffolk House
George Street
Croydon
Surrey
CR0 0YN

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Wild Republic UK Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wild Republic UK Ltd for the year ended 31st December 2023 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Wild Republic UK Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wild Republic UK Ltd and state those matters that we have agreed to state to the Board of Directors of Wild Republic UK Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wild Republic UK Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Wild Republic UK Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Wild Republic UK Ltd. You consider that Wild Republic UK Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Wild Republic UK Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Simpson Wreford & Partners
Chartered Accountants
Suffolk House
George Street
Croydon
Surrey
CR0 0YN


25th September 2024

WILD REPUBLIC UK LTD (REGISTERED NUMBER: 03435408)

Statement of Financial Position
31st December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,385 3,889

CURRENT ASSETS
Stocks 5 124,471 61,210
Debtors 6 107,331 43,377
Cash at bank and in hand 54,855 22,134
286,657 126,721
CREDITORS
Amounts falling due within one year 7 803,781 2,158,771
NET CURRENT LIABILITIES (517,124 ) (2,032,050 )
TOTAL ASSETS LESS CURRENT LIABILITIES (510,739 ) (2,028,161 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Other reserves 1,400,048 -
Retained earnings (1,911,787 ) (2,029,161 )
SHAREHOLDERS' FUNDS (510,739 ) (2,028,161 )

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.

WILD REPUBLIC UK LTD (REGISTERED NUMBER: 03435408)

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.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th September 2024 and were signed on its behalf by:





V B Chandran - Director


WILD REPUBLIC UK LTD (REGISTERED NUMBER: 03435408)

Notes to the Financial Statements
for the year ended 31st December 2023

1. STATUTORY INFORMATION

Wild Republic UK 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 company is supported by its ultimate parent company, K&M International Inc., by way of a loan. Whilst this loan is repayable on demand, the directors, who are also directors of this company, have indicated that the support of the parent company will continue for the foreseeable future.

The directors therefore consider it appropriate to continue to adopt the going concern basis of accounting in preparing these financial statements.

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

Retail sales are recognised at the point of sale, whereas income from wholesale activities is recognised when the goods are despatched to the customers.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Government grants included within the financial statements are comprised of furlough payments to staff members as part of the government's package of measures to cover the impact of COVID-19.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - at varying rates on cost
Computer equipment - at varying rates on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

WILD REPUBLIC UK LTD (REGISTERED NUMBER: 03435408)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

2. ACCOUNTING POLICIES - continued

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 13 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st January 2023 17,313 9,872 27,185
Additions - 7,968 7,968
At 31st December 2023 17,313 17,840 35,153
DEPRECIATION
At 1st January 2023 17,313 5,983 23,296
Charge for year - 5,472 5,472
At 31st December 2023 17,313 11,455 28,768
NET BOOK VALUE
At 31st December 2023 - 6,385 6,385
At 31st December 2022 - 3,889 3,889

5. STOCKS
31.12.23 31.12.22
£    £   
Finished goods 124,471 61,210

WILD REPUBLIC UK LTD (REGISTERED NUMBER: 03435408)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 38,335 17,093
Amounts owed by group undertakings 44,026 5,922
Other debtors 587 110
Prepayments 24,383 20,252
107,331 43,377

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 67,704 16,478
Amounts owed to group undertakings 655,790 2,109,497
Social security and other taxes 23,423 16,880
VAT 14,207 2,045
Accruals and deferred income 42,657 13,871
803,781 2,158,771

8. RELATED PARTY DISCLOSURES

During the year, the intercompany balance with the parent company, K&M International Inc., was converted by way of a capital contribution.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are G B Pillai and Mrs K Pillai by virtue of their controlling family interest in K&M International Inc., the ultimate parent company.