0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-24 Sage Accounts Production Advanced 2023 - FRS102_2023 439 439 146 146 293 xbrli:pure xbrli:shares iso4217:GBP 14891314 2023-05-24 2024-05-31 14891314 2024-05-31 14891314 2023-05-23 14891314 bus:OrdinaryShareClass1 2023-05-24 2024-05-31 14891314 bus:Director1 2023-05-24 2024-05-31 14891314 core:WithinOneYear 2024-05-31 14891314 core:ShareCapital 2024-05-31 14891314 core:RetainedEarningsAccumulatedLosses 2024-05-31 14891314 bus:SmallEntities 2023-05-24 2024-05-31 14891314 bus:AuditExempt-NoAccountantsReport 2023-05-24 2024-05-31 14891314 bus:SmallCompaniesRegimeForAccounts 2023-05-24 2024-05-31 14891314 bus:PrivateLimitedCompanyLtd 2023-05-24 2024-05-31 14891314 bus:FullAccounts 2023-05-24 2024-05-31 14891314 bus:OrdinaryShareClass1 2024-05-31 14891314 core:OfficeEquipment 2023-05-24 2024-05-31 14891314 core:OfficeEquipment 2024-05-31
COMPANY REGISTRATION NUMBER: 14891314
KERPIC LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 May 2024
KERPIC LTD
STATEMENT OF FINANCIAL POSITION
31 May 2024
31 May 24
Note
£
£
FIXED ASSETS
Tangible assets
4
293
CURRENT ASSETS
Cash at bank and in hand
46,320
CREDITORS: amounts falling due within one year
5
26,446
--------
NET CURRENT ASSETS
19,874
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
20,167
PROVISIONS
78
--------
NET ASSETS
20,089
--------
CAPITAL AND RESERVES
Called up share capital
6
10
Profit and loss account
20,079
--------
SHAREHOLDERS FUNDS
20,089
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 26 November 2024 , and are signed on behalf of the board by:
Mr H J Jansen van Vuuren
Director
Company registration number: 14891314
KERPIC LTD
NOTES TO THE FINANCIAL STATEMENTS
Period from 24 May 2023 to 31 May 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is c/o Muras Baker Jones Ltd, Third Floor Regent House, Bath Avenue, Wolverhampton, WV1 4EG, England.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment
-
33% straight line
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. TANGIBLE ASSETS
Office Equipment
£
Cost
At 24 May 2023
Additions
439
----
At 31 May 2024
439
----
Depreciation
At 24 May 2023
Charge for the period
146
----
At 31 May 2024
146
----
Carrying amount
At 31 May 2024
293
----
5. CREDITORS: amounts falling due within one year
31 May 24
£
Corporation tax
17,306
Social security and other taxes
5,989
Other creditors
3,151
--------
26,446
--------
6. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
31 May 24
No.
£
Ordinary shares of £ 1 each
10
10
----
----
7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
On 24 May 2023 the company advanced the director £10. Before the year end the company made further advances of £51,210 and the director made repayments of £40,559 before repaying the loan in full on 31 May 2024. Interest of £176 was paid by the director.