Acorah Software Products - Accounts Production 16.1.200 false true true false 12 July 2022 31 July 2023 31 July 2023 14228138 Mr Philip Jonitz Mr Christopher Murphy true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14228138 2022-07-11 14228138 2023-07-31 14228138 2022-07-12 2023-07-31 14228138 frs-core:CurrentFinancialInstruments 2023-07-31 14228138 frs-core:ShareCapital 2023-07-31 14228138 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 14228138 frs-bus:PrivateLimitedCompanyLtd 2022-07-12 2023-07-31 14228138 frs-bus:FilletedAccounts 2022-07-12 2023-07-31 14228138 frs-bus:SmallEntities 2022-07-12 2023-07-31 14228138 frs-bus:AuditExempt-NoAccountantsReport 2022-07-12 2023-07-31 14228138 frs-bus:SmallCompaniesRegimeForAccounts 2022-07-12 2023-07-31 14228138 1 2022-07-12 2023-07-31 14228138 frs-core:CostValuation 2022-07-11 14228138 frs-core:AdditionsToInvestments 2023-07-31 14228138 frs-core:CostValuation 2023-07-31 14228138 frs-core:ProvisionsForImpairmentInvestments 2022-07-11 14228138 frs-core:ProvisionsForImpairmentInvestments 2023-07-31 14228138 frs-bus:Director1 2022-07-12 2023-07-31 14228138 frs-bus:Director2 2022-07-12 2023-07-31 14228138 frs-countries:EnglandWales 2022-07-12 2023-07-31
Registered number: 14228138
Klink Finance Limited
Unaudited Financial Statements
For the Period 12 July 2022 to 31 July 2023
Adbell Advisory Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14228138
31 July 2023
Notes $ $
FIXED ASSETS
Investments 4 2,565
2,565
CURRENT ASSETS
Stocks 5 43,200
Debtors 6 21,167
Cash at bank and in hand 158,062
222,429
Creditors: Amounts Falling Due Within One Year 7 (698,926 )
NET CURRENT ASSETS (LIABILITIES) (476,497 )
TOTAL ASSETS LESS CURRENT LIABILITIES (473,932 )
NET LIABILITIES (473,932 )
CAPITAL AND RESERVES
Called up share capital 8 11,908
Profit and Loss Account (485,840 )
SHAREHOLDERS' FUNDS (473,932)
Page 1
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For the period ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Philip Jonitz
Director
07/01/2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Klink Finance Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14228138 . The registered office is 20 Birchin Court, Birchin Lane, London, EC3V 9DJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The financial statements are prepared on the basis of the going concern, which assumes that the company will be in operational existence for the foreseeable future. This depends upon continued support of the shareholders. The financial statements do not include any adjustments that would result if such support is withdrawn.
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.4. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its 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.
Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally 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.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into US$ at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into US$ at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.6. Taxation
Taxation for the period 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 period 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.
2.7. Preparation of consolidated financial statements
The financial statements contain information about Klink Finance Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
The company and its subsidiary undertakings comprise of a small-sized group.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2
2
4. Investments
Subsidiaries
$
Cost
As at 12 July 2022 -
Additions 2,565
As at 31 July 2023 2,565
Provision
As at 12 July 2022 -
As at 31 July 2023 -
Net Book Value
As at 31 July 2023 2,565
As at 12 July 2022 -
The company's investments at the Balance Sheet date in the share capital of companies include the following:
Subsidiaries
Klink Finance DE UG (haftungsbeschränkt)
Registered office:Germany
Nature of business:
%
Class of shares
holding
Ordinary
100
31.12.23
31.12.22
...CONTINUED
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Aggregate capital and reserves
6,590
850
Profit / (Loss) for the year
5,740
image
(650)
image
5. Stocks
31 July 2023
$
Crypto 43,200
6. Debtors
31 July 2023
$
Due within one year
Amounts owed by group undertakings 6,382
Other debtors 14,785
21,167
7. Creditors: Amounts Falling Due Within One Year
31 July 2023
$
Trade creditors 5,941
Other creditors 692,985
698,926
8. Share Capital
31 July 2023
$
Called Up Share Capital not Paid 11,908
Amount of Allotted, Called Up Share Capital 11,908
Allotted, issued and fully paid 10,000 ordinary shares in £1 nominal value each.
9. Ultimate Controlling Party
The company's ultimate controlling parties are Mr C J Murphy and Mr P Jonitz by virtue of his ownership of 100% of the issued share capital in the company.
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