Company registration number 07075960 (England and Wales)
KENKKO (UK) LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
KENKKO (UK) LIMITED
COMPANY INFORMATION
Directors
J Lang
O Lang
Secretary
O Lang
Company number
07075960
Registered office
8 Heriot Road
London
United Kingdom
NW4 2DG
Accountants
SPW (UK) LLP
Gable House
239 Regents Park Road
London
N3 3LF
KENKKO (UK) LIMITED
CONTENTS
Page
Directors' report
1
Profit and loss account
2
Statement of comprehensive income
3
Balance sheet
4
Statement of changes in equity
5
Notes to the financial statements
6 - 10
KENKKO (UK) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -

The directors present their annual report and financial statements for the year ended 31 December 2023.

Principal activities
The principal activity of the company continued to be that of commission agents in the dried fruit and nuts industry.
Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

J Lang
O Lang
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
O Lang
Director
4 December 2024
KENKKO (UK) LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
2023
2022
Notes
$
$
Turnover
3
501,486
367,745
Administrative expenses
(206,851)
(325,744)
Profit before taxation
294,635
42,001
Tax on profit
6
-
0
-
0
Profit for the financial year
294,635
42,001

The profit and loss account has been prepared on the basis that all operations are continuing operations.

KENKKO (UK) LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
2023
2022
$
$
Profit for the year
294,635
42,001
Other comprehensive income
-
-
Total comprehensive income for the year
294,635
42,001
KENKKO (UK) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 4 -
2023
2022
Notes
$
$
$
$
Current assets
Debtors
7
984,572
660,377
Cash at bank and in hand
5,556
4,736
990,128
665,113
Creditors: amounts falling due within one year
8
(135,454)
(105,074)
Net current assets
854,674
560,039
Capital and reserves
Called up share capital
9
2
2
Profit and loss reserves
854,672
560,037
Total equity
854,674
560,039

For the financial year ended 31 December 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The financial statements were approved by the board of directors and authorised for issue on 4 December 2024 and are signed on its behalf by:
O Lang
Director
Company registration number 07075960 (England and Wales)
KENKKO (UK) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
Share capital
Profit and loss reserves
Total
$
$
$
Balance at 1 January 2022
2
518,036
518,038
Year ended 31 December 2022:
Profit and total comprehensive income
-
42,001
42,001
Balance at 31 December 2022
2
560,037
560,039
Year ended 31 December 2023:
Profit and total comprehensive income
-
294,635
294,635
Balance at 31 December 2023
2
854,672
854,674
KENKKO (UK) LIMITED
STATEMENT OF CHANGES IN EQUITY (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2
Accounting policies
Company information
Kenkko (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 8 Heriot Road, London, United Kingdom, NW4 2DG.
2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in dollars, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest $.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the disclosure requirements of FRS102 Section 7 ‘Statement of Cash Flows’ – Presentation of a statement of cash flow and related notes and disclosures.

 

The financial statements of the company are consolidated in the financial statements of Kenkko Corporation Limited. These consolidated financial statements are available from its registered office, Gable House, 239 Regents Park Road, Finchley, London N3 3LF.

2.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3
Turnover

Turnover represents commissions receivable for goods net of VAT and trade discounts. Turnover is recognised when the goods have been dispatched.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

KENKKO (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2
Accounting policies
(Continued)
- 7 -
2.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2.5
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 balance sheet 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 debtors 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. Financial assets classified as receivable within one year are not amortised.

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

Basic financial liabilities, including creditors, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2.7
Foreign exchange

In preparing the financial statements, transactions in currencies other than the functional currency (foreign currencies) are recognised at an average rate for the month in which the transaction takes place. At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. Exchange differences are recognised in profit or loss in the period in which they arise.

KENKKO (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 8 -
3
Turnover

An analysis of the company's turnover is as follows:

2023
2022
$
$
Turnover analysed by class of business
Commission
501,486
367,745
2023
2022
$
$
Turnover analysed by geographical market
European Union
138,782
136,878
Other
362,704
230,867
501,486
367,745
4
Operating profit
2023
2022
Operating profit for the year is stated after charging/(crediting):
$
$
Exchange losses/(gains)
74
(7,999)
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
2
2
KENKKO (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 9 -
6
Taxation

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2023
2022
$
$
Profit before taxation
294,635
42,001
Expected tax charge based on the standard rate of corporation tax in the UK of 23.52% (2022: 19.00%)
69,298
7,980
Adjustments in respect of prior years
(33,824)
(7,980)
Group relief
(35,474)
-
0
Taxation charge for the year
-
-
7
Debtors
2023
2022
Amounts falling due within one year:
$
$
Trade debtors
169,983
58,216
Amounts owed by group undertakings
797,750
588,044
Other debtors
16,839
14,117
984,572
660,377
8
Creditors: amounts falling due within one year
2023
2022
$
$
Trade creditors
-
0
20,024
Other creditors
102,478
54,795
Accruals and deferred income
32,976
30,255
135,454
105,074
9
Share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1

The shares in issue are equivalent, at the exchange rate at the date of allotment to US$2.

KENKKO (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 10 -
10
Ultimate controlling party

The immediate parent company of Kenkko (UK) Limited is Kenkko Corporation Limited. a company registered in Great Britain. Its registered office is Gable House, 239 Regents Park Road, London N3 3LF.

The ultimate parent company is Claiborne Assets inc., a company registered in British Virgin Islands.

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