Registration number:
KKS Advisors Limited
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Brebners
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KKS Advisors Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Financial Statements |
KKS Advisors Limited
Company Information
Director |
C Parentelli |
Registered office |
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Auditor |
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KKS Advisors Limited
Statement of Financial Position as at 31 December 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
- |
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Current assets |
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Debtors |
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Cash at bank and in hand |
- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Retained earnings |
- |
238,514 |
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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
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C Parentelli
Director
Company registration number: 10483661
KKS Advisors Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of the provision of management consultancy services.
Audit Report |
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
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.
Staff numbers |
The average number of persons employed by the company during the year, was
Tangible assets |
Computer equipment |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 January 2023 |
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Disposals |
( |
( |
( |
At 31 December 2023 |
- |
- |
- |
Depreciation |
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At 1 January 2023 |
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Eliminated on disposal |
( |
( |
( |
At 31 December 2023 |
- |
- |
- |
Carrying amount |
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At 31 December 2023 |
- |
- |
- |
At 31 December 2022 |
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Debtors |
2023 |
2022 |
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Trade debtors |
- |
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Amounts owed by group undertakings |
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Other debtors |
- |
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KKS Advisors Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Trade creditors |
- |
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Amounts owed to group undertakings |
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Taxation and social security |
- |
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Accruals and deferred income |
- |
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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.
Related party transactions |
Exemption is taken under FRS 102 paragraph 1AC.35 not to disclose transactions or amounts falling due with wholly owned undertakings.