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Registration number: 09061522

Kizmit Solutions Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Kizmit Solutions Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Kizmit Solutions Ltd

(Registration number: 09061522)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

3,040

1,682

Current assets

 

Debtors

6

29,695

11,841

Cash at bank and in hand

 

217,678

119,517

 

247,373

131,358

Creditors: Amounts falling due within one year

7

(90,619)

(1,165)

Net current assets

 

156,754

130,193

Total assets less current liabilities

 

159,794

131,875

Provisions for liabilities

(578)

(444)

Net assets

 

159,216

131,431

Capital and reserves

 

Called up share capital

8

200

200

Retained earnings

159,016

131,231

Shareholders' funds

 

159,216

131,431

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 10 February 2025 and signed on its behalf by:
 

Mr G Cuddy
Director

Mrs D Cuddy
Director

 
     
 

Kizmit Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Parkhill Studio
Walton Road
Wetherby
West Yorkshire
LS22 5DZ
England

These financial statements were authorised for issue by the Board on 10 February 2025.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Kizmit Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

33% straight line

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

1,268

2,339

 

Kizmit Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

11,522

11,522

Additions

2,627

2,627

Disposals

(2,069)

(2,069)

At 31 May 2024

12,080

12,080

Depreciation

At 1 June 2023

9,840

9,840

Charge for the year

1,268

1,268

Eliminated on disposal

(2,068)

(2,068)

At 31 May 2024

9,040

9,040

Carrying amount

At 31 May 2024

3,040

3,040

At 31 May 2023

1,682

1,682

6

Debtors

Current

2024
£

2023
£

Trade debtors

9,430

8,081

Prepayments

236

193

Other debtors

20,029

3,567

 

29,695

11,841

 

Kizmit Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

48,051

-

Trade creditors

 

140

-

Taxation and social security

 

42,428

973

Accruals and deferred income

 

-

192

 

90,619

1,165

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

Ordinary A shares of £1 each

51

51

51

51

Ordinary B shares of £1 each

49

49

49

49

200

200

200

200

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

48,051

-

 

Kizmit Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

10

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

14,665

2,095