IRIS Accounts Productionv24.1.4.3304346196director1.4.2331.3.2431.3.24falsetruefalsefalsetruefalse iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh043461962023-03-31043461962024-03-31043461962023-04-012024-03-31043461962022-03-31043461962022-04-012023-03-31043461962023-03-3104346196ns15:EnglandWales2023-04-012024-03-3104346196ns14:PoundSterling2023-04-012024-03-3104346196ns10:Director12023-04-012024-03-3104346196ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3104346196ns10:SmallEntities2023-04-012024-03-3104346196ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3104346196ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3104346196ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3104346196ns10:FullAccounts2023-04-012024-03-3104346196ns10:RegisteredOffice2023-04-012024-03-3104346196ns5:CurrentFinancialInstruments2024-03-3104346196ns5:CurrentFinancialInstruments2023-03-3104346196ns5:Non-currentFinancialInstruments2024-03-3104346196ns5:Non-currentFinancialInstruments2023-03-3104346196ns5:ShareCapital2024-03-3104346196ns5:ShareCapital2023-03-3104346196ns5:SharePremium2024-03-3104346196ns5:SharePremium2023-03-3104346196ns5:RetainedEarningsAccumulatedLosses2024-03-3104346196ns5:RetainedEarningsAccumulatedLosses2023-03-3104346196ns5:LandBuildings2023-03-3104346196ns5:PlantMachinery2023-03-3104346196ns5:LandBuildings2023-04-012024-03-3104346196ns5:PlantMachinery2023-04-012024-03-3104346196ns5:LandBuildings2024-03-3104346196ns5:PlantMachinery2024-03-3104346196ns5:LandBuildings2023-03-3104346196ns5:PlantMachinery2023-03-3104346196ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-03-3104346196ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-3104346196ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-03-3104346196ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-03-3104346196ns5:RetainedEarningsAccumulatedLosses2023-03-3104346196ns5:SharePremium2023-03-3104346196ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-31

REGISTERED NUMBER: 04346196 (England and Wales)




Report of the Director and

Financial Statements for the Year Ended 31 March 2024

for


Krypton Consulting Ltd


Krypton Consulting Ltd (Registered number: 04346196)







Contents of the Financial Statements

for the Year Ended 31 March 2024





Page



Company Information  

1



Report of the Director  

2



Balance Sheet  

3



Notes to the Financial Statements  

5



Statement of Director's Responsibilities  

8



Independent Accountants' Review Report  

9




Krypton Consulting Ltd


Company Information

for the Year Ended 31 March 2024









DIRECTOR:

Mr Olusola Makinwa







REGISTERED OFFICE:

Navigation House Unit 6


Town Quay Wharf


Abbey Road


Barking


Essex


IG11 7BZ







REGISTERED NUMBER:

04346196 (England and Wales)







ACCOUNTANTS:

JPW Accountants and Management Services


48 Sandy Lane South


Wallington


Surrey


SM6 9RQ


Krypton Consulting Ltd (Registered number: 04346196)


Report of the Director

for the Year Ended 31 March 2024


The director presents his report with the financial statements of the company for the year ended 31 March 2024.


PRINCIPAL ACTIVITY

In the last two years, our services have shifted to Payroll and Umbrella Services only in line with the strategic direction and as a response to market demand.

As a result of change in the Strategic direction, our Accounting Services, Tax Planning Service and HMRC Investigations & Enquiries, have been taken over by our sister company Krypton Proficient Ltd. This will company will assume fully the chartered Accountancy services for the foreseeable future.

DIRECTOR

Mr Olusola Makinwa held office during the whole of the period from 1 April 2023 to the date of this report.


His beneficial interest in the shares of the company, according to the register of directors' interests, was as follows:



31.3.24


1.4.23

Ordinary shares of £1 each

650


650




He did not hold any non-beneficial interests in the shares of the company.


POLITICAL DONATIONS AND EXPENDITURE

During the year, Donations were made a number of charities in accordance to our policy to support charities that care for the young and Vulnerable in the community.


This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.


ON BEHALF OF THE BOARD:






Mr Olusola Makinwa - Director



28 October 2024


Krypton Consulting Ltd (Registered number: 04346196)


Balance Sheet

31 March 2024



31.3.24

31.3.23



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

4

188,715


205,424




CURRENT ASSETS

Debtors

5

19,386


29,386



Cash at bank

49,765


45,983



69,151


75,369



CREDITORS

Amounts falling due within one year

6

43,687


51,546



NET CURRENT ASSETS

25,464


23,823



TOTAL ASSETS LESS CURRENT

LIABILITIES

214,179


229,247




CREDITORS

Amounts falling due after more than one year

7

(124,056

)

(182,377

)



ACCRUALS AND DEFERRED INCOME

(24,953

)

-



NET ASSETS

65,170


46,870




CAPITAL AND RESERVES

Called up share capital

1,000


1,000



Share premium

8

96,058


77,812



Retained earnings

8

(31,888

)

(31,942

)


SHAREHOLDERS' FUNDS

65,170


46,870




The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.  


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.  


The director acknowledges his 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.


Krypton Consulting Ltd (Registered number: 04346196)


Balance Sheet - continued

31 March 2024



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 Income Statement has not been delivered.


The financial statements were approved by the director and authorised for issue on 28 October 2024 and were signed by:






Mr Olusola Makinwa - Director



Krypton Consulting Ltd (Registered number: 04346196)


Notes to the Financial Statements

for the Year Ended 31 March 2024


1.

STATUTORY INFORMATION



Krypton Consulting 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.    



Turnover

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


Tangible fixed assets


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.



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 balance sheet date.


Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was 5 (2023 - 7 ) .


Krypton Consulting Ltd (Registered number: 04346196)


Notes to the Financial Statements - continued

for the Year Ended 31 March 2024


4.

TANGIBLE FIXED ASSETS


Plant and



Land and


machinery



buildings


etc


Totals

£   

£   

£   



COST


At 1 April 2023

66,200


244,006


310,206




Disposals

-


(52,000

)

(52,000

)



At 31 March 2024

66,200


192,006


258,206




DEPRECIATION


At 1 April 2023

-


104,782


104,782




Charge for year

-


13,909


13,909




Eliminated on disposal

-


(49,200

)

(49,200

)



At 31 March 2024

-


69,491


69,491




NET BOOK VALUE


At 31 March 2024

66,200


122,515


188,715




At 31 March 2023

66,200


139,224


205,424




5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.3.24


31.3.23

£   

£   



Trade debtors

19,386


29,386




6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.3.24


31.3.23

£   

£   



Finance Lease

1,904


8,404




Trade creditors

1


1




Accountancy

1,750


1,500




Tax

-


356




Social security and other taxes

25,000


6,461




VAT

15,032


34,824



43,687


51,546




7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR



31.3.24


31.3.23

£   

£   



Bank loans - 2-5 years

15,691


24,012




Other loans - 2-5 years

108,365


158,365



124,056


182,377




Krypton Consulting Ltd (Registered number: 04346196)


Notes to the Financial Statements - continued

for the Year Ended 31 March 2024


8.

RESERVES


Retained


Share



earnings


premium


Totals

£   

£   

£   




At 1 April 2023

(31,942

)

77,812


45,870




Profit for the year

20,054


-


20,054




Dividends

(20,000

)

-


(20,000

)



Cash share issue

-


18,246


18,246




At 31 March 2024

(31,888

)

96,058


64,170




Krypton Consulting Ltd (Registered number: 04346196)


Statement of Director's Responsibilities

for the Year Ended 31 March 2024



The following reproduces the text of the report prepared for the director 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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.    


The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.


Company law requires the director to prepare financial statements for each financial year.  Under that law the director has 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 director must not approve the financial statements unless he is 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 director is required to:


-

select suitable accounting policies and then 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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.








Mr Olusola Makinwa - Director


28 October 2024


Independent Accountants' Review Report to the Director of

Krypton Consulting Ltd


The following reproduces the text of the report prepared for the director 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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.    


We have reviewed the financial statements of Krypton Consulting Ltd for the year ended 31 March 2024, which comprise the Income Statement, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).    


Director's responsibility for the financial statements

As explained more fully in the Statement of Director's Responsibilities set out on page eight, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.


Accountants' responsibility

Our responsibility is to express a conclusion on the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review historical financial statements' and ICAEW Technical Release TECH 09/13AAF (Revised) 'Assurance review engagements on historical financial statements'. ISRE 2400 (Revised) requires us to conclude whether anything has come to our attention that causes us to believe that the financial statements, taken as a whole, are not prepared, in all material respects, in accordance with United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). ISRE 2400 (Revised) also requires us to comply with the ICAEW Code of Ethics and the FRC's Ethical Standard, as applicable.


Scope of the assurance review

A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed additional procedures, primarily consisting of making enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK). Accordingly, we do not express an audit opinion on these financial statements.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:


-

so as to give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;

-

in accordance with  United Kingdom Generally Accepted Accounting Practice; and

-

in accordance with the requirements of the Companies Act 2006.


Use of our report

This report is made solely to the company's director in accordance with our terms of engagement. Our review has been undertaken so that we might state to the director those matters that we have agreed with him in a reviewer's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's director for our work, for this report, or for the conclusions we have formed.    





JPW Accountants and Management Services

48 Sandy Lane South

Wallington

Surrey

SM6 9RQ


Independent Accountants' Review Report to the Director of

Krypton Consulting Ltd




28 October 2024