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Registration number: 10483661

KKS Advisors Limited

Financial Statements

for the Year Ended 31 December 2023

Brebners
Chartered Accountants & Statutory Auditor
130 Shaftesbury Avenue
London
W1D 5AR

 

KKS Advisors Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3 to 6

 

KKS Advisors Limited

Company Information

Director

C Parentelli

Registered office

C/O Tmf Group
13th Floor
One Angel Court
London
EC2R 7HJ

Auditor

Brebners
Chartered Accountants & Statutory Auditor
130 Shaftesbury Avenue
London
W1D 5AR

 

KKS Advisors Limited

Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

-

1,865

Current assets

 

Debtors

6

34,725

413,440

Cash at bank and in hand

 

-

46,874

 

34,725

460,314

Creditors: Amounts falling due within one year

7

(34,724)

(223,664)

Net current assets

 

1

236,650

Net assets

 

1

238,515

Capital and reserves

 

Called up share capital

1

1

Retained earnings

-

238,514

Shareholders' funds

 

1

238,515

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the director on 25 September 2024
 

.........................................

C Parentelli

Director

Company registration number: 10483661

 

KKS Advisors Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/O Tmf Group
13th Floor
One Angel Court
London
EC2R 7HJ

The principal activity of the company is that of the provision of management consultancy services.

2

Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 26 September 2024 was Martin Widdowson, who signed for and on behalf of Brebners.

3

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company ceased to trade during the year. Accordingly, the financial statements have been prepared on a basis other than going concern.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

 

KKS Advisors Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

20% straight line

Computer equipment

33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

KKS Advisors Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

4

Staff numbers

The average number of persons employed by the company during the year, was 0 (2022 - 6).

5

Tangible assets

Computer equipment
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

15,272

445

15,717

Disposals

(15,272)

(445)

(15,717)

At 31 December 2023

-

-

-

Depreciation

At 1 January 2023

13,409

443

13,852

Eliminated on disposal

(13,409)

(443)

(13,852)

At 31 December 2023

-

-

-

Carrying amount

At 31 December 2023

-

-

-

At 31 December 2022

1,863

2

1,865

6

Debtors

2023
£

2022
£

Trade debtors

-

277,801

Amounts owed by group undertakings

34,725

105,625

Other debtors

-

30,014

34,725

413,440

 

KKS Advisors Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Trade creditors

-

8,447

Amounts owed to group undertakings

34,724

55,667

Taxation and social security

-

14,719

Accruals and deferred income

-

144,831

34,724

223,664

8

Dividends

On 1 January 2023 the assets and liabilities of the company were transferred to a fellow group undertaking. A dividend was declared during the year with the intention to distribute the balance on profit and loss to the parent undertaking, however it was subsequently found that the dividend was in excess of the distributable reserves as defined by Companies Act 2006 by £34,725. As a result, the parent undertaking has agreed to repay the excess, and this is being treated as a debtor in the financial statements for the year ended 31 December 2023.

9

Related party transactions

Exemption is taken under FRS 102 paragraph 1AC.35 not to disclose transactions or amounts falling due with wholly owned undertakings.