Silverfin false false 31/05/2024 01/06/2023 31/05/2024 J Arnold 13/05/2008 K Arnold 06 February 2025 The principal activity of the company was the provision of project management and consultancy services. 06591306 2024-05-31 06591306 bus:Director1 2024-05-31 06591306 2023-05-31 06591306 core:CurrentFinancialInstruments 2024-05-31 06591306 core:CurrentFinancialInstruments 2023-05-31 06591306 core:Non-currentFinancialInstruments 2024-05-31 06591306 core:Non-currentFinancialInstruments 2023-05-31 06591306 core:ShareCapital 2024-05-31 06591306 core:ShareCapital 2023-05-31 06591306 core:RetainedEarningsAccumulatedLosses 2024-05-31 06591306 core:RetainedEarningsAccumulatedLosses 2023-05-31 06591306 core:FurnitureFittings 2023-05-31 06591306 core:FurnitureFittings 2024-05-31 06591306 2022-05-31 06591306 bus:OrdinaryShareClass1 2024-05-31 06591306 core:WithinOneYear 2024-05-31 06591306 core:WithinOneYear 2023-05-31 06591306 core:BetweenOneFiveYears 2024-05-31 06591306 core:BetweenOneFiveYears 2023-05-31 06591306 2023-06-01 2024-05-31 06591306 bus:FilletedAccounts 2023-06-01 2024-05-31 06591306 bus:SmallEntities 2023-06-01 2024-05-31 06591306 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 06591306 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 06591306 bus:Director1 2023-06-01 2024-05-31 06591306 bus:Director2 2023-06-01 2024-05-31 06591306 core:FurnitureFittings 2023-06-01 2024-05-31 06591306 2022-06-01 2023-05-31 06591306 core:Non-currentFinancialInstruments 2023-06-01 2024-05-31 06591306 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 06591306 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 06591306 (England and Wales)

KJP UK LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

KJP UK LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

KJP UK LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 May 2024
KJP UK LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 15,422 15,260
15,422 15,260
Current assets
Stocks 4 50,000 151,500
Debtors 5 437,896 71,001
Cash at bank and in hand ( 4,258) 80,393
483,638 302,894
Creditors: amounts falling due within one year 6 ( 407,225) ( 231,773)
Net current assets 76,413 71,121
Total assets less current liabilities 91,835 86,381
Creditors: amounts falling due after more than one year 7 ( 88,412) ( 44,287)
Provision for liabilities 8 ( 3,309) ( 3,318)
Net assets 114 38,776
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 14 38,676
Total shareholders' funds 114 38,776

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of KJP UK Limited (registered number: 06591306) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

J Arnold
Director

06 February 2025

KJP UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
KJP UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

KJP UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is Office Suite 212, Cuffley Place Sopers Road, Cuffley, Potters Bar, EN6 4RY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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 first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet 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.

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 creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and 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 and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 27 21

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 June 2023 28,900 28,900
Additions 4,573 4,573
At 31 May 2024 33,473 33,473
Accumulated depreciation
At 01 June 2023 13,640 13,640
Charge for the financial year 4,411 4,411
At 31 May 2024 18,051 18,051
Net book value
At 31 May 2024 15,422 15,422
At 31 May 2023 15,260 15,260

4. Stocks

2024 2023
£ £
Work in progress 50,000 151,500

5. Debtors

2024 2023
£ £
Trade debtors 319,800 63,683
Amounts owed by directors 97,627 0
Prepayments and accrued income 18,844 5,693
Other debtors 1,625 1,625
437,896 71,001

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 182,714 58,747
Other loans 23,999 8,713
Accruals 25,181 5,892
Corporation tax 28,053 52,001
Other taxation and social security 142,541 102,642
Other creditors 4,737 3,778
407,225 231,773

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other loans 88,412 44,287

There are no amounts included above in respect of which any security has been given by the small entity.

8. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 3,318) 0
Credited/(charged) to the Statement of Income and Retained Earnings 9 ( 3,318)
At the end of financial year ( 3,309) ( 3,318)

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

10. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 36,541 31,193
between one and five years 46,894 45,735
83,435 76,928

Pensions

The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 4,737 3,733

11. Related party transactions

Transactions with the entity's directors

The company advanced £258,405 to the director who repaid £162,514 during the year, leaving a balance at the year-end of £95,936 owed by the director (2023: £45 owed to the director). Interest has been charged at 2% and this balance is unsecured.