K2MP Advisor Ltd 12356192 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is management consultancy. Digita Accounts Production Advanced 6.30.9574.0 true true 12356192 2023-01-01 2023-12-31 12356192 2023-12-31 12356192 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2023-12-31 12356192 core:CurrentFinancialInstruments 2023-12-31 12356192 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 12356192 core:FurnitureFittingsToolsEquipment 2023-12-31 12356192 bus:SmallEntities 2023-01-01 2023-12-31 12356192 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 12356192 bus:FilletedAccounts 2023-01-01 2023-12-31 12356192 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12356192 bus:RegisteredOffice 2023-01-01 2023-12-31 12356192 bus:Director1 2023-01-01 2023-12-31 12356192 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12356192 core:FurnitureFittings 2023-01-01 2023-12-31 12356192 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 12356192 core:OtherRelatedParties 2023-01-01 2023-12-31 12356192 countries:EnglandWales 2023-01-01 2023-12-31 12356192 2022-12-31 12356192 core:FurnitureFittingsToolsEquipment 2022-12-31 12356192 2022-01-01 2022-12-31 12356192 2022-12-31 12356192 core:CurrentFinancialInstruments 2022-12-31 12356192 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 12356192 core:CurrentFinancialInstruments core:PreviouslyStatedAmount 2022-12-31 12356192 core:FurnitureFittingsToolsEquipment 2022-12-31 12356192 core:PreviouslyStatedAmount 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 12356192

Prepared for the registrar

K2MP Advisor Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

K2MP Advisor Ltd

(Registration number: 12356192)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,515

2,020

Investment property

5

-

219,862

Other financial assets

6

173,360

88,685

 

174,875

310,567

Current assets

 

Debtors

7

-

4,128

Creditors: Amounts falling due within one year

8

(190,034)

(304,001)

Net current liabilities

 

(190,034)

(299,873)

Net (liabilities)/assets

 

(15,159)

10,694

Capital and reserves

 

Called up share capital

4

4

Retained earnings

(15,163)

10,690

Shareholders' (deficit)/funds

 

(15,159)

10,694

For the financial year ending 31 December 2023 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

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


A E M Armstrong-Cerfontaine
Director

 

K2MP Advisor Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Wisteria Cottage
Fulmer Road
Fulmer
Slough
SL3 6HN

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's current forecasts and projections, together with the facilities available to the company, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Revenue recognition

Turnover comprises the fair value of the rents received or receivable in respect of the investment property in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

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

The current corporation 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.

 

K2MP Advisor Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the statement of financial position 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

Furniture and fittings

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate. Changes in fair value are recognised in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.


Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 3).

 

K2MP Advisor Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

 

4

Tangible assets

Furniture, fittings and equipment
 £

Cost

At 1 January 2023

4,788

At 31 December 2023

4,788

Depreciation

At 1 January 2023

2,768

Charge for the year

505

At 31 December 2023

3,273

Carrying amount

At 31 December 2023

1,515

At 31 December 2022

2,020

 

5

Investment properties

£

At 1 January 2023 and at 31 December 2022

219,862

Disposals

(219,862)

At 31 December 2023

-

There has been no valuation of investment property by an independent valuer.

 

K2MP Advisor Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

 

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Non-current financial assets

Cost or valuation

At 1 January 2023

88,685

Revaluations

(1,995)

Additions

86,670

At 31 December 2023

173,360

Impairment

Carrying amount

At 31 December 2023

173,360

 

7

Debtors

2023
 £

2022
 £

Other debtors

-

4,128

 

8

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

181,066

295,270

Taxation and social security

 

100

-

Accruals and deferred income

 

8,868

8,731

 

190,034

304,001

 

9

Loans and borrowings

Note

2023
£

2022
£

Current loans and borrowings

Other borrowings

10

181,066

295,270

 

10

Related party transactions

Summary of transactions with other related parties

At 31 December 2023, the company owed £181,066 (2022: £295,270) to the directors. No interest was charged on this balance and there are no fixed repayment terms.