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Company registration number: 14093528







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


KUDOK LTD






































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KUDOK LTD
REGISTERED NUMBER:14093528



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
455,812
-

Investments
  
1
1

  
455,813
1

Current assets
  

Stocks
  
54,185
-

Debtors: amounts falling due within one year
 6 
107,270
38,361

Cash at bank and in hand
  
451,826
33,371

  
613,281
71,732

Creditors: amounts falling due within one year
 7 
(538,106)
(30,413)

Net current assets
  
 
 
75,175
 
 
41,319

Total assets less current liabilities
  
530,988
41,320

Creditors: amounts falling due after more than one year
  
(1,588,049)
(167,850)

  

Net liabilities
  
(1,057,061)
(126,530)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(1,057,062)
(126,531)

  
(1,057,061)
(126,530)


The financial statements 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 have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Sandra Tolderlund Marquardsen
Director

Date: 11 November 2024

The notes on pages 3 to 7 form part of these financial statements.
Page 1

 


KUDOK LTD
REGISTERED NUMBER:14093528


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023


Page 2

 


KUDOK LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Kudok 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

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 


KUDOK LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
20%
straight line
Plant and machinery
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Financial instruments

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Page 4

 


KUDOK LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Going concern

The Parent Company has confirmed that it will provide financial support, if necessary, to Kudok Limited. The Parent Company accounts contain sufficient funds to be able to support the Company. The Company has no issue in meeting its day to day working capital requirements for the foreseeable future, therefore it is appropriate to adopt the going concern basis in preparing its financial statements.


3.


Employees

The average monthly number of employees, including directors, during the year was 43 (2022 - 2).


4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Total

£
£
£



Cost or valuation


Additions
346,996
194,408
541,404


Disposals
-
(6,125)
(6,125)



At 31 December 2023

346,996
188,283
535,279



Depreciation


Charge for the year on owned assets
52,049
27,418
79,467



At 31 December 2023

52,049
27,418
79,467



Net book value



At 31 December 2023
294,947
160,865
455,812



At 31 December 2022
-
-
-


5.


Fixed asset investments





Trade investments

£





At 1 January 2023
1




Page 5

 


KUDOK LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
1,080
-

Amounts owed by group undertakings
1
1

Other debtors
71,022
22,556

Prepayments and accrued income
35,167
15,804

107,270
38,361



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
138,007
1,644

Other taxation and social security
281,407
2,963

Other creditors
77,368
12,806

Accruals and deferred income
41,324
13,000

538,106
30,413



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Amounts owed to group undertakings
1,588,049
167,850

1,588,049
167,850



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1


Page 6

 


KUDOK LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
130,000
123,233

Later than 1 year and not later than 5 years
520,000
520,000

Later than 5 years
1,176,767
1,306,767

1,826,767
1,950,000


11.


Controlling party

The smallest group in which the results of the company are consolidated is that headed by TakeFive ApS. Copies of its annual report may be obtained from its registered office at:
1, 1.Fredens Trov
Aarhus C
Denmark
8000


12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 11 November 2024 by James Fox ACA FCCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 7