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Registered number: 12471820












KFUL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


 
REGISTERED NUMBER:12471820
KFUL LIMITED

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
1,600
1,630

Cash at bank and in hand
  
11,674
13,751

  
13,274
15,381

Creditors: amounts falling due within one year
 5 
(1,200)
(4,030)

Net current assets
  
 
 
12,074
 
 
11,351

Total assets less current liabilities
  
12,074
11,351

  

Net assets
  
12,074
11,351


Capital and reserves
  

Called up share capital 
 6 
1,000
1,000

Profit and loss account
  
11,074
10,351

  
12,074
11,351


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Dan Knipe
Director

Date: 21 March 2025

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 

KFUL LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

KFUL Limited is a limited company incorporated in the UK on 19 February 2020 and registered in England and Wales. The Company's address is Duo, Level 6, 280 Bishopsgate, London, EC2M 4RB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. Management do not consider there are any key accounting estimates or assumptions made that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year.
Management are also required to exercise judgement in applying the company's accounting policies. Due to the straight forward nature of the business management consider that no critical judgements have been made in applying the company's accounting policies.

 
2.2

Turnover

Turnover comprises revenue recognised by the Company in respect of support services supplied during the year, exclusive of value added tax. Turnover is recognised over the period which support services provided.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 2

 

KFUL LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

  
2.5

Financial instruments

All trade and other debtors are initially recognised at transaction value, as none contain in substance a financing transaction. Thereafter trade and other debtors are reviewed for impairment where there is objective evidence based on observable data that the balance may be impaired. The company does not hold collateral against its trade and other receivables so its exposure to credit risk is the net balance of trade and other debtors after allowance for impairment.

The company's cash holdings comprise on demand balances only. All cash is held with banks with strong external credit ratings.
 
Trade and other creditors and accruals are initially recognised at transaction value as none represent a financing transaction. They are only derecognised when they are extinguished. As the company only has short term receivables and payables, its net current asset position is a reasonable measure of its liquidity at any given time.

  
2.6

Related parties

The company is exempt under section 33 of FRS102 from disclosing transactions or balances between wholly owned group companies.


3.


Employees




The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).


4.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
1,600
-

Other debtors
-
280

Prepayments and accrued income
-
1,350

1,600
1,630



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
1,830

Accruals and deferred income
1,200
2,200

1,200
4,030


Page 3

 

KFUL LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary shares of £1 each
1,000
1,000



7.


Controlling party

The company's immediate parent undertaking is Kilter Finance Holdings Ltd, a company registered in the Cayman Islands. 
The parent undertaking of the largest and smallest group to consolidate these financial statements is Kilter Finance Holdings Ltd, registered address PO Box 309, Ugland House, Grand Cayman, KY.  

Page 4