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Registration number: 03798190

KINGSNORTH INTERNATIONAL LIMITED

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

KINGSNORTH INTERNATIONAL LIMITED

Contents

Company Information

1

Directors' Report

2

Profit and Loss Account

3

Statement of Comprehensive Income

4

Balance Sheet

5

Statement of Changes in Equity

6

Notes to the Unaudited Financial Statements

7 to 10

 

KINGSNORTH INTERNATIONAL LIMITED

Company Information

Directors

Woodford Directors Limited

Ms Andreea Ecaterina Mocanu

Registered office

3 The Shrubberies
George Lane
London
E18 1BD

Accountants

ACCOUNTING 2 TREND LTD
3 The Shrubberies
George Lane
London
E18 1BD

 

KINGSNORTH INTERNATIONAL LIMITED

Directors' Report for the Year Ended 31 December 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors of the company

The directors who held office during the year were as follows:

Woodford Directors Limited

Ms Andreea Ecaterina Mocanu

Principal activity

The principal activity of the company is that of an investment holding company.

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 22 May 2025 and signed on its behalf by:
 

.........................................
Ms Andreea Ecaterina Mocanu
Director

 

KINGSNORTH INTERNATIONAL LIMITED

Profit and Loss Account for the Year Ended 31 December 2024

Note

2024

2023

Turnover

 

-

-

Gross profit/(loss)

 

-

-

Administrative expenses

 

(10,648)

7,119

Operating (loss)/profit

 

(10,648)

7,119

Gain on financial assets at fair value through profit and loss

 

42,231

7,050

Other interest receivable and similar income

 

16,796

22,732

Interest payable and similar expenses

 

(4,745)

(5,012)

   

54,282

24,770

Profit before tax

43,634

31,889

Tax on profit

 

(8,290)

(694)

Profit for the financial year

 

35,344

31,195

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

KINGSNORTH INTERNATIONAL LIMITED

Statement of Comprehensive Income for the Year Ended 31 December 2024

2024

2023

Profit for the year

35,344

31,195

Total comprehensive income for the year

35,344

31,195

 

KINGSNORTH INTERNATIONAL LIMITED

(Registration number: 03798190)
Balance Sheet as at 31 December 2024

Note

2024

2023

Fixed assets

 

Other financial assets

4

781,476

846,138

Current assets

 

Debtors

5

10,918

11,624

Cash at bank and in hand

 

710,072

599,858

 

720,990

611,482

Creditors: Amounts falling due within one year

6

(72,928)

(63,426)

Net current assets

 

648,062

548,056

Net assets

 

1,429,538

1,394,194

Capital and reserves

 

Called up share capital

7

21,527

21,527

Share premium reserve

1,300,000

1,300,000

Retained earnings

108,011

72,667

Shareholders' funds

 

1,429,538

1,394,194

For the financial year ending 31 December 2024 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.

Approved and authorised by the Board on 22 May 2025 and signed on its behalf by:
 

.........................................
Ms Andreea Ecaterina Mocanu
Director

 

KINGSNORTH INTERNATIONAL LIMITED

Statement of Changes in Equity for the Year Ended 31 December 2024

Share capital

Share premium

Profit and loss account

Total

At 1 January 2024

21,527

1,300,000

72,667

1,394,194

Profit for the year

-

-

35,344

35,344

Total comprehensive income

-

-

35,344

35,344

At 31 December 2024

21,527

1,300,000

108,011

1,429,538

Share capital

Share premium

Retained earnings

Total

At 1 January 2023

21,527

1,300,000

41,472

1,362,999

Profit for the year

-

-

31,195

31,195

At 31 December 2023

21,527

1,300,000

72,667

1,394,194

 

KINGSNORTH INTERNATIONAL LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

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

The address of its registered office is:
3 The Shrubberies
George Lane
London
E18 1BD
United Kingdom

These financial statements were authorised for issue by the Board on 22 May 2025.

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 that as disclosed in the accounting policies certain items are shown at fair value.

Tax

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

The current income 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

KINGSNORTH INTERNATIONAL LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

 

KINGSNORTH INTERNATIONAL LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss

Total

Non-current financial assets

Cost or valuation

At 1 January 2024

846,138

846,138

Fair value adjustments

42,231

42,231

Additions

630,255

630,255

Disposals

(737,148)

(737,148)

At 31 December 2024

781,476

781,476

Impairment

Carrying amount

At 31 December 2024

781,476

781,476

5

Debtors

Current

2024

2023

Other debtors

10,918

11,624

 

10,918

11,624

6

Creditors

Creditors: amounts falling due within one year

2024

2023

Due within one year

Taxation and social security

8,290

694

Accruals and deferred income

-

1,150

Other creditors

64,638

61,582

72,928

63,426

7

Share capital

Allotted, called up and fully paid shares

 

KINGSNORTH INTERNATIONAL LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

2024

2023

No.

No.

Ordinary shares of £1 each

17,109

21,527

17,109

21,527

       

8

Related party transactions

Loans from related parties

2024

Other related parties

Total

At start of period

61,582

61,582

Advanced

3,056

3,056

At end of period

64,638

64,638

2023

Other related parties

Total

At start of period

60,419

60,419

Advanced

1,163

1,163

At end of period

61,582

61,582

Terms of loans from related parties

Shareholder's loan, interest free with no specified repayment date.