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REGISTERED NUMBER: 12171009 (England and Wales)















Kult London Ltd

Unaudited Financial Statements

for the Year Ended 30 June 2024






Kult London Ltd (Registered number: 12171009)

Contents of the Financial Statements
for the year ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kult London Ltd

Company Information
for the year ended 30 June 2024







Directors: M Cordes
C E Trathen
J Catt





Registered office: 4th Floor
Henry Wood House
4-5 Langham Place
London
W1B 3DG





Registered number: 12171009 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Kult London Ltd (Registered number: 12171009)

Balance Sheet
30 June 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 4,981 3,937

Current assets
Debtors 5 753,564 773,679
Cash at bank 196 46,338
753,760 820,017
Creditors
Amounts falling due within one year 6 1,176,559 1,131,326
Net current liabilities (422,799 ) (311,309 )
Total assets less current liabilities (417,818 ) (307,372 )

Creditors
Amounts falling due after more than one
year

7

(18,298

)

(29,167

)

Provisions for liabilities (1,245 ) (834 )
Net liabilities (437,361 ) (337,373 )

Capital and reserves
Called up share capital 9 100 100
Retained earnings (437,461 ) (337,473 )
Shareholders' funds (437,361 ) (337,373 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Kult London Ltd (Registered number: 12171009)

Balance Sheet - continued
30 June 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by:




C E Trathen - Director M Cordes - Director




J Catt - Director


Kult London Ltd (Registered number: 12171009)

Notes to the Financial Statements
for the year ended 30 June 2024


1. Statutory information

Kult London Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 25% on cost

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a
party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial
recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management. Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Kult London Ltd (Registered number: 12171009)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 10 (2023 - 9 ) .

4. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£ £ £
Cost
At 1 July 2023 4,357 9,194 13,551
Additions - 4,142 4,142
At 30 June 2024 4,357 13,336 17,693
Depreciation
At 1 July 2023 3,487 6,127 9,614
Charge for year 870 2,228 3,098
At 30 June 2024 4,357 8,355 12,712
Net book value
At 30 June 2024 - 4,981 4,981
At 30 June 2023 870 3,067 3,937

5. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 525,251 529,305
Other debtors 228,313 244,374
753,564 773,679

Kult London Ltd (Registered number: 12171009)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


6. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 27,715 10,003
Trade creditors 878,282 650,963
Taxation and social security 17,916 78,538
Other creditors 252,646 391,822
1,176,559 1,131,326

7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans 18,298 29,167

8. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 39,697 136,105
Between one and five years - 39,697
39,697 175,802

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100

10. Related party disclosures

Included within other creditors is a balance of £150,000 (2023: £NIL) owed to a connected company. Balances owed to directors totalling £81,403 (2023: £112,412 ) are included within other creditors.