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REGISTERED NUMBER: 12309255 (England and Wales)















Financial Statements for the Year Ended 31 August 2024

for

KSI HKS Limited

KSI HKS Limited (Registered number: 12309255)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KSI HKS Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: X Ren
C L Bickford-Smith





REGISTERED OFFICE: G16, Central Court
25 Southampton Buildings
London
WC2A 1AL





REGISTERED NUMBER: 12309255 (England and Wales)





AUDITORS: Shinewing Wilson Accountancy Limited
Chartered Certified Accountants
and Statutory Auditors
9 St Clare Street
London
EC3N 1LQ

KSI HKS Limited (Registered number: 12309255)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 198,803 222,473

CURRENT ASSETS
Stocks 2,961 2,800
Debtors: amounts falling due within one year 5 1,967,452 1,861,867
Cash in hand 393,299 162
2,363,712 1,864,829
CREDITORS
Amounts falling due within one year 6 1,038,529 676,969
NET CURRENT ASSETS 1,325,183 1,187,860
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,523,986

1,410,333

CREDITORS
Amounts falling due after more than one year 7 (986,218 ) (912,380 )

PROVISIONS FOR LIABILITIES (39,032 ) (43,060 )
NET ASSETS 498,736 454,893

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 498,735 454,892
SHAREHOLDERS' FUNDS 498,736 454,893

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 3 December 2024 and were signed on its behalf by:





X Ren - Director


KSI HKS Limited (Registered number: 12309255)

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

1. STATUTORY INFORMATION

KSI HKS Limited 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.

Going concern
The company meets its day-to-day working capital requirements through its bank facilities and long term borrowings from its UK parent company, the parent company has confirmed to financially support the company for at least 12 months from the date of signing these financial statements. The Directors have assessed the operations of the school, discussed the substance and availability of that support from the UK parent. Based on these, the directors have concluded 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.

Turnover
School, nursery, preschool fees and other educational income receivable are accounted for in the period in which the service is provided. Fees receivable are stated after deducting allowances and other remissions allowed by the company. Other educational income consists of extras, optional subjects and ancillaries charged to pupils.

Scholarship and bursary awards are included as expenditure in the period for which they are given. Scholarships, bursaries and allowances towards school fees are treated as a reduction in the fees.

All other types of income, including investment income, are accounted for on an accruals basis and recognised in the statement of financial activities when earned by the school.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Office equipment - 10% on cost
Furniture & Fixtures - 10% on cost
Motor Vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

KSI HKS Limited (Registered number: 12309255)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loan and loans from group undertakings, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest method.

Share capital
Financial instruments issued by the company are classified as equity only to the extent that they do not meet the definition of a financial liability or financial asset.

The company's ordinary shares are classified as equity instruments.

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.


KSI HKS Limited (Registered number: 12309255)

Notes to the Financial Statements - continued
for the Year Ended 31 August 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.

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.

Interest expenses
Interest expense is recognised using effective interest rate method. In calculating interest expense, the effective interest rate is applied to the amortised cost of the liability for interest expense.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 100 (2023 - 96 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 September 2023 16,019 239,076 77,884 332,979
Additions 3,700 23,002 - 26,702
Disposals - (8,700 ) - (8,700 )
At 31 August 2024 19,719 253,378 77,884 350,981
DEPRECIATION
At 1 September 2023 3,536 59,254 47,716 110,506
Charge for year 1,972 26,208 16,971 45,151
Eliminated on disposal - (3,479 ) - (3,479 )
At 31 August 2024 5,508 81,983 64,687 152,178
NET BOOK VALUE
At 31 August 2024 14,211 171,395 13,197 198,803
At 31 August 2023 12,483 179,822 30,168 222,473

KSI HKS Limited (Registered number: 12309255)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 100,537 141,695
Amounts owed by group undertakings 1,836,914 1,683,497
Other debtors 30,001 36,675
1,967,452 1,861,867

Amounts owed by group undertakings are unsecured, interest-free, have no fixed repayment date, and are repayable on demand. No rent is charged by the fellow subsidiary KSI HKS Property Limited to the company which has an interest free loan of £1,829,091 (2023: £1,683,497) from the company.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts (see note 8) 63,125 251,512
Deferred income 640,197 150,374
Trade creditors 59,155 64,256
Taxation and social security 69,509 44,608
Other creditors 206,543 166,219
1,038,529 676,969

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans (see note 8) 34,051 96,102
Deferred income 64,443 -
Amounts owed to group undertakings 887,724 816,278
986,218 912,380

Amounts owed to group undertakings were loans from the company's intermediate parent company KSI Education Limited. The terms of the loan are that interest will be charged at the end of each financial year, on a daily basis, at a rate of 3.5% above the Bank of England base rate, until 1 September 2024, and at a rate of 4% per annum from 1 September 2024 to 31 May 2029. The interest will be paid in-kind and be capitalised and added to the principal borrowings until such time that the company is in a position of reporting profits. During the year, interest of £71,447 (2023: £55,480) was charged on the loan. See note 6.

KSI HKS Limited (Registered number: 12309255)

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

8. LOANS

An analysis of the maturity of loans is given below:

31.8.24 31.8.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 188,387
Bank loans 63,125 63,125
63,125 251,512

Amounts falling due between two and five years:
Bank loans - 2-5 years 34,051 96,102

Bank overdraft and bank loans are secured and charged over the freehold property of KSI HKS Property Limited.

Loan from Barclays offered a capital repayment holiday - no capital repayment of 12 months from the date of the first drawdown in January 2021 of the facility. Interest is charged at 3.25% above the floating rate basis. During the capital repayment holiday, loan interest is debited to the current account on the charging dates, subsequently the loan will be paid as set out in the repayment Instalments over 48 months.

Bank overdraft is charged at 2.75% per annum over the Bank of England Rate on the drawn portion of the facility.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nijendra Dhungana (Senior Statutory Auditor)
for and on behalf of Shinewing Wilson Accountancy Limited

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. ULTIMATE CONTROLLING PARTY

The immediate parent company is KSI Education Limited.

The intermediate parent company and the smallest and largest group to consolidate these financial statements is KSI Education Limited. Copies of the KSI Education Limited consolidated financial statements can be obtained from the company registered office at G16, Central Court 25, Southampton Buildings, London, England, WC2A 1AL.