KCL Management Services |
Notes to the Accounts |
for the year ended 31 May 2024 |
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1 |
Accounting policies |
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Statement of compliance |
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KCL Management Services Limited ("the Company") is a private company limited by shares and incorporated in England and Wales. The Company's registered number is 03497252 and the address of its registered office is HCD Research, 179 Junction Road, BURGESS HILL, West Sussex, RH15 0JW. The principal activity of the company during the period is that of telecommunications consultancy and the provision of accountancy services. |
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Basis of preparation |
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The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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The financial statements have been prepared under the historical cost convention. The presentation currency is £ sterling |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Plant and machinery |
over 5 years |
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Fixtures, fittings, tools and equipment |
over 5 years |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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2 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
2 |
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2 |
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3 |
Tangible fixed assets |
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Plant and machinery etc |
£ |
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Cost |
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At 1 June 2023 |
7,631 |
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Additions |
405 |
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At 31 May 2024 |
8,036 |
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Depreciation |
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At 1 June 2023 |
6,969 |
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Charge for the year |
428 |
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At 31 May 2024 |
7,397 |
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Net book value |
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At 31 May 2024 |
639 |
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At 31 May 2023 |
662 |
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4 |
Investments |
Investments in |
subsidiary |
undertakings |
£ |
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Cost |
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At 1 June 2023 |
79,316 |
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At 31 May 2024 |
79,316 |
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At 31 May 2023 the Company owned, either directly or indirectly, holdings in the issued share capital of the following companies:- |
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HCD Holdings Limited (registration number 09913404) - holding company of a trading group |
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Ordinary share capital £200,000 of which 25% is owned by the Company |
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HCD Research Limited (registration number 00708818 - England and Wales - trading. |
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Ordinary share capital £29,363 of which 1.24% is owned by the Company. |
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5 |
Debtors |
2024 |
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2023 |
£ |
£ |
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Trade debtors |
2,414 |
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1,100 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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32,720 |
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41,371 |
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Other debtors |
5,405 |
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3,310 |
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40,539 |
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45,781 |
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6 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
£ |
£ |
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Taxation and social security costs |
1,128 |
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628 |
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Other creditors |
30,467 |
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28,989 |
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31,595 |
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29,617 |
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7 |
Related party transactions |
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The directors operate current accounts with the company. These accounts have been in credit throughout the year, are repayable on demand and are included in Other Creditors (Note 9). The total amounts due by the company to its directors at the year end was £27,407 (2023 - £27,069). |
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8 |
Other information |
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KCL Management Services is a private company limited by shares and incorporated in England. Its registered office is: |
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HCD Research |
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179 Junction Road |
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BURGESS HILL |
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West Sussex |
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RH15 0JW |