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REGISTERED NUMBER: 13902866 (England and Wales)











Financial Statements

for the Year Ended 31 July 2024

for

KOR FINANCE LTD

KOR FINANCE LTD (REGISTERED NUMBER: 13902866)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KOR FINANCE LTD

Company Information
for the Year Ended 31 July 2024







DIRECTOR: Mr K O Rechache





REGISTERED OFFICE: 42 Lytton Road
Barnet
United Kingdom
EN5 5BY





REGISTERED NUMBER: 13902866 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

KOR FINANCE LTD (REGISTERED NUMBER: 13902866)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Investments 4 721,812 49,917
Investment property 5 1,316,633 585,667
2,038,445 635,584

CURRENT ASSETS
Debtors 6 95,077 139,103
Cash at bank 343,008 424,497
438,085 563,600
CREDITORS
Amounts falling due within one year 7 1,417,217 430,877
NET CURRENT (LIABILITIES)/ASSETS (979,132 ) 132,723
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,059,313

768,307

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 1,059,213 768,207
SHAREHOLDERS' FUNDS 1,059,313 768,307

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 28 April 2025 and were signed by:




Mr K O Rechache - Director


KOR FINANCE LTD (REGISTERED NUMBER: 13902866)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

KOR Finance 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

Going concern
The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future and therefore used the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS

31.7.24 31.7.23
£    £   
Other investments not loans 721,812 49,917

KOR FINANCE LTD (REGISTERED NUMBER: 13902866)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Unlisted
investme
£   
COST OR VALUATION
Additions 539,363
Revaluations 58,582
At 31 July 2024 597,945
NET BOOK VALUE
At 31 July 2024 597,945

Cost or valuation at 31 July 2024 is represented by:

Unlisted
investme
£   
Valuation in 2024 58,582
Cost 539,363
597,945

Investments (neither listed nor unlisted) were as follows:
31.7.24 31.7.23
£    £   
Cost bf 49,917 -
Additions 73,950 49,917
123,867 49,917

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 585,667
Additions 730,966
At 31 July 2024 1,316,633
NET BOOK VALUE
At 31 July 2024 1,316,633
At 31 July 2023 585,667

KOR FINANCE LTD (REGISTERED NUMBER: 13902866)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 2,152 -
Other debtors 92,925 139,103
95,077 139,103

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts (see note 8) 938,730 417,780
Amounts owed to group undertakings 475,629 -
Accruals and deferred income 2,858 13,097
1,417,217 430,877

8. LOANS

An analysis of the maturity of loans is given below:

31.7.24 31.7.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 938,730 417,780

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
100 A Ordinary £1 100 100

10. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £475,629 (2023: £Nil) to Holborn Trading Limited. The companies are related parties by virtue of the fact that they are under common control.