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REGISTERED NUMBER: 12302091 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

KSL Advice Limited

KSL Advice Limited (Registered number: 12302091)

Contents of the Financial Statements
for the Year Ended 30 November 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


KSL Advice Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: K S Lehrer
E L Lehrer





REGISTERED OFFICE: 62 Sutton Road
London
N10 1HG





REGISTERED NUMBER: 12302091 (England and Wales)






KSL Advice Limited (Registered number: 12302091)

Statement of Financial Position
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 20,347 27,269

CURRENT ASSETS
Debtors 6 554 844
Investments 7 137,576 182,576
Cash at bank and in hand 2,536 3,242
140,666 186,662
CREDITORS
Amounts falling due within one year 8 148,660 194,263
NET CURRENT LIABILITIES (7,994 ) (7,601 )
TOTAL ASSETS LESS CURRENT LIABILITIES 12,353 19,668

CREDITORS
Amounts falling due after more than one year 9 18,981 24,207
NET LIABILITIES (6,628 ) (4,539 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (6,630 ) (4,541 )
(6,628 ) (4,539 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





K S Lehrer - Director


KSL Advice Limited (Registered number: 12302091)

Notes to the Financial Statements
for the Year Ended 30 November 2023


1. STATUTORY INFORMATION

KSL Advice Limited 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention. The presentation currency of the financial statements is the Pound Sterling (£).

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
Tangible assets are stated at cost (or deemed cost), less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs.

Fixtures and fittings - 33.3% on cost
Motor Vehicles - 25% on reducing balance.

Included within property, plant, and equipment are assets held under hire purchase agreements, which are classified as finance leases under FRS 102. The net carrying amount of these assets at the reporting date is £23,786..

Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated losses.

Financial instruments
The Company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets and liabilities are offset, and the net amount reported in the Statement of Financial
Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and demand 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 to changes in value.

Taxation
Taxation for the year comprises current 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 taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax and laws that have been enacted or substantively enacted by the statement of financial position date.

Going concern
The financial statements have been prepared on the going concern basis. The company made profits during the year, however the directors believe that the company has sufficient financial resources to be able to meet its obligations, if and when they become due, and that the company can continue in operational existence for a period of at least 12 months from the statement of financial position date. On this basis, the directors are of the opinion that they should continue to adopt the going concern basis in preparing the annual financial statements.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 515 40,200 40,715
DEPRECIATION
At 1 December 2022 255 13,191 13,446
Charge for year 170 6,752 6,922
At 30 November 2023 425 19,943 20,368
NET BOOK VALUE
At 30 November 2023 90 20,257 20,347
At 30 November 2022 260 27,009 27,269

KSL Advice Limited (Registered number: 12302091)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


5. TANGIBLE FIXED ASSETS - continued

The company has entered into hire purchase agreements for certain items of motor vehicles. The future minimum payments under these agreements, are as follows:

Due within one year:
£4,806

Due between two to five years:
£18,981

Total minimum lease payments: £23,786

The hire purchase liabilities are secured against the assets to which they relate.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other debtors 554 844

7. CURRENT ASSET INVESTMENTS
30.11.23 30.11.22
£    £   
Other - Investments 137,576 182,576

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Hire purchase contracts 4,806 4,221
Other creditors 143,854 190,042
148,660 194,263

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Hire purchase contracts 18,981 24,207

10. RELATED PARTY DISCLOSURES

During the year, the company made advances to the director totalling £312 and received repayments from the director totalling £46,500. At the statement of financial position date, the director owed the company £143,854 (2022: £190,041). All advances are repayable on demand and do not bear interest.