Kayser Space Limited 09755239 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is Business and domestic software development Digita Accounts Production Advanced 6.30.9574.0 true true 09755239 2023-01-01 2023-12-31 09755239 2023-12-31 09755239 core:CurrentFinancialInstruments 2023-12-31 09755239 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 09755239 core:FurnitureFittingsToolsEquipment 2023-12-31 09755239 bus:SmallEntities 2023-01-01 2023-12-31 09755239 bus:Audited 2023-01-01 2023-12-31 09755239 bus:FullAccounts 2023-01-01 2023-12-31 09755239 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09755239 bus:RegisteredOffice 2023-01-01 2023-12-31 09755239 bus:CompanySecretary1 2023-01-01 2023-12-31 09755239 bus:Director2 2023-01-01 2023-12-31 09755239 bus:Director3 2023-01-01 2023-12-31 09755239 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09755239 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 09755239 core:OfficeEquipment 2023-01-01 2023-12-31 09755239 countries:EnglandWales 2023-01-01 2023-12-31 09755239 2022-12-31 09755239 core:FurnitureFittingsToolsEquipment 2022-12-31 09755239 2022-01-01 2022-12-31 09755239 2022-12-31 09755239 core:CurrentFinancialInstruments 2022-12-31 09755239 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 09755239 core:FurnitureFittingsToolsEquipment 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 09755239

Kayser Space Limited

Filleted Financial Statements

for the Year Ended 31 December 2023

 

Kayser Space Limited

Contents

Company Information

1

Statement of Directors' Responsibilities

2

Balance Sheet

3

Notes to the Financial Statements

4 to 8

 

Kayser Space Limited

Company Information

Directors

Mr Antonio Del Gaizo

Mr David Stefano Zolesi

Company secretary

Ms Judith Ann Kennedy Ruddock

Registered office

Rutherford Appleton Laboratory Fermi Avenue
Harwell Campus
Didcot
Oxfordshire
OX11 0QX

Auditors

Just Audit & Assurance Ltd
4, South Bar Street
Banbury
Oxfordshire
OX16 9AA

 

Kayser Space Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006 and in accordance with FRS 102 section 1A applicable to small companies. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Kayser Space Limited

(Registration number: 09755239)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

6

5,297

5,403

Current assets

 

Debtors

7

190,559

106,253

Cash at bank and in hand

 

282,657

360,524

 

473,216

466,777

Creditors: Amounts falling due within one year

8

(124,714)

(381,121)

Net current assets

 

348,502

85,656

Net assets

 

353,799

91,059

Capital and reserves

 

Called up share capital

9

1

1

Retained earnings

353,798

91,058

Shareholders' funds

 

353,799

91,059

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 September 2024 and signed on its behalf by:
 

.........................................
Mr Antonio Del Gaizo
Director

 

Kayser Space 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:
Rutherford Appleton Laboratory Fermi Avenue
Harwell Campus
Didcot
Oxfordshire
OX11 0QX
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

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 Jonathan Russell, who signed for and on behalf of Just Audit & Assurance Ltd.

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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.

 

Kayser Space Limited

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

Contract revenue recognition

Contracts in progress represent the gross amount expected to be collected from
customers for contract work performed to date. They are measured at costs incurred plus profits
recognised to date less progress billings and recognised losses.
In the statement of financial position, construction contracts in progress for which costs incurred
plus recognised profits exceed progress billings and recognised losses are presented as trade
and other receivables. Contracts for which progress billings and recognised losses exceed costs
incurred plus recognised profits are presented as deferred income/revenue.

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 change 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 balance sheet 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

Office equipment

25% reducing balance

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Kayser Space Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 4).

4

Auditors' remuneration

2023
£

2022
£

Audit of the financial statements

3,950

3,850

 

Kayser Space Limited

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


 

5

Profit/loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

1,766

1,801

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

24,885

24,885

Additions

1,660

1,660

At 31 December 2023

26,545

26,545

Depreciation

At 1 January 2023

19,482

19,482

Charge for the year

1,766

1,766

At 31 December 2023

21,248

21,248

Carrying amount

At 31 December 2023

5,297

5,297

At 31 December 2022

5,403

5,403

7

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

66,757

66,172

WIP

 

118,685

35,456

Other debtors

 

5,117

4,625

   

190,559

106,253

 

Kayser Space Limited

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

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

2,928

4,563

Amounts owed to group undertakings and undertakings in which the company has a participating interest

46,409

344,674

Taxation and social security

 

34,602

10,425

Accruals and deferred income

 

12,850

12,654

Other creditors

 

27,925

8,805

 

124,714

381,121

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

1

1

1

1

         

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £22,305 (2022 - £25,715). Of this, £6,428 is due in 1-2 years (2022 - £6,428) and £15,876 is due in 2-5 years (2022 - £19,286).