Company Registration No. 04233535 (England and Wales)

 

 

 

 

 

 

 

 

 

 

 

 

 

KASTNER LONDON LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

KASTNER LONDON LIMITED

AUDITED FINANCIAL STATEMENTS

CONTENTS

 

 

Page

Company information

3

Statement of financial position

4

Notes to the accounts

5

KASTNER LONDON LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2023

 

Director

Daniel James Smith

 

 

Company Number

04233535 (England and Wales)

 

 

Registered Office

C/O Laytons LLP

 

Pinners Hall, 105-108 Old Broad Street

 

London

 

EC2N 1ER

 

England

 

 

Accountants

Headstart Financials Ltd

 

180 Borough High Street (FORA)

 

London

 

SE1 1LB

 

 

Auditors

Dixon Wilson Audit Services LLP

 

22 Chancery Lane

 

London

 

WC2A 1LS

 

 

KASTNER LONDON LIMITED

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2023

 

 

 

2023

2022

 

Notes

£

£

Fixed assets

 

 

 

Tangible assets

4

7,591

7,956

Current assets

 

 

 

Inventories

 

4,650

4,650

Debtors

5

257,981

167,774

Cash at bank and in hand

 

257,311

574,343

 

 

 

 

 

 

519,942

746,767

Creditors: amounts falling due within one year

6

(502,774)

(740,169)

 

 

 

 

Net current assets

 

17,168

6,598

 

 

 

 

Net assets

 

24,759

14,554

Capital and reserves

 

 

 

Called up share capital

 

100

100

Profit and loss account

 

24,659

14,454

 

 

 

 

Shareholders' funds

 

24,759

14,554

 

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities.

 

The financial statements were approved by the Board and authorised for issue on 19 September 2024 and were signed on its behalf by

 

 

 

 

Daniel James Smith

Director

 

Company Registration No. 04233535

KASTNER LONDON LIMITED

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 

1     Statutory information

 

Kastner London Limited is a private company, limited by shares, registered in England and Wales, registration number 04233535. The registered office is C/O Laytons LLP, Pinners Hall, 105-108 Old Broad Street, London, EC2N 1ER, England.

 

2     Compliance with accounting standards

 

The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.

 

3     Accounting policies

 

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

 

Basis of preparation

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

 

Presentation currency

The accounts are presented in £ sterling.

 

Going concern

The financial statements have been prepared on a going concern basis. The company has received assurance from its parent undertaking that it will not call in loans until such time that the company has sufficient resources to repay its loan and it will provide additional funds to meet liabilities as and when they fall due.

true

 

Revenue recognition

Turnover represents advertising work done for customers together with production cost reimbursements, excluding VAT. Work done for customers is recognised as earned and production cost reimbursements are recognised at the point when the costs are incurred.

 

Foreign exchange

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

KASTNER LONDON LIMITED

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 

Tangible fixed assets and depreciation

 

Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:

 

Land & buildings

20% on cost

Motor vehicles

25% on cost

Fixtures & fittings

20% on cost

Computer equipment

33.33% on cost

 

Trade debtors

Trade debtors are amounts due from customers for 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 debtors.

 

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell. Cost is determined using the first-in, first-out (FIFO) method.

 

Trade creditors

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 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.

 

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss over the period of the relevant borrowing.

 

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

 

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

KASTNER LONDON LIMITED

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 

Tax policy

Tax expense comprises current and deferred tax. It is recognised in profit or loss except to the extent that it relates to a business combination, or items recognised directly in equity or in Statement of Other Comprehensive Income.

Current tax comprises the expected tax payable or receivable on the taxable income or loss for the year and any adjustment to the tax payable or receivable in respect of previous years. It is measured using tax rates enacted or substantively enacted at the reporting date.

 

Deferred tax is recognised in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. It is measured at the tax rates that are expected to be applied to temporary differences when they reverse, using tax rates enacted or substantively enacted at the reporting date.

 

Leased assets

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.

 

Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.

 

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.

 

Pension costs

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.

KASTNER LONDON LIMITED

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 

4     Tangible fixed assets

 

 

Motor

Fixtures &

Computer

Total

 

vehicles

fittings

equipment

 

 

£

£

£

£

Cost or valuation

At cost

At cost

At cost

 

At 1 January 2023

1,542

7,478

33,731

42,751

Additions

-

545

3,246

3,791

 

 

 

 

 

At 31 December 2023

1,542

8,023

36,977

46,542

Depreciation

 

 

 

 

At 1 January 2023

1,397

7,231

26,167

34,795

Charge for the year

145

138

3,873

4,156

 

 

 

 

 

At 31 December 2023

1,542

7,369

30,040

38,951

Net book value

 

 

 

 

At 31 December 2023

-

654

6,937

7,591

 

 

 

 

 

At 31 December 2022

145

247

7,564

7,956

 

5     Debtors

 

 

2023

2022

Amounts falling due within one year

£

£

VAT

1,122

17,401

Trade debtors

178,763

108,369

Accrued income and prepayments

49,193

26,644

Other debtors

28,903

15,360

 

 

 

 

257,981

167,774

KASTNER LONDON LIMITED

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 

6     Creditors: amounts falling due within one year

 

 

2023

2022

 

£

£

Trade creditors

139,201

242,828

Amounts owed to group undertakings and other participating interests

241,092

236,756

Taxes and social security

20,531

54,162

Other creditors

76,512

119,123

Accruals

22,850

87,300

Deferred income

2,588

-

 

 

 

 

502,774

740,169

 

7     Contingent liabilities

 

Financial commitments, guarantees and contingencies:

 

The total amount of financial commitments not included in the balance sheet is £84,172 (2022: £28,497).

 

8     Controlling party

 

The company's immediate parent is Flying Spirit Limited, incorporated in Switzerland.

 

The parent of the largest group in which these financial statements are consolidated is Flying Spirit Limited, incorporated in Switzerland.

 

The address of Flying Spirit Limited is:

Bundesstrasse 7

6300 Zug

Switzerland

 

9     Average number of employees

 

During the year the average number of employees was 12 (2022: 11).

 

10     Audit report

 

The audit report on the full accounts was signed by Steven Wakefield on 19 September 2024 as senior statutory auditor on behalf of Dixon Wilson Audit Services LLP. The audit report was unqualified and no reference was made to any matters to which the auditor drew attention by way of emphasis.