Company registration number 12955231 (England and Wales)
KOMPLEX COMMUNITY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
KOMPLEX COMMUNITY LTD
CONTENTS
Page
Profit and loss account
1
Balance sheet
2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
KOMPLEX COMMUNITY LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -
2024
2023
£
£
Turnover
7,925,475
2,354,540
Cost of sales
(3,862,397)
(764,975)
Gross profit
4,063,078
1,589,565
Administrative expenses
(2,937,267)
(675,584)
Operating profit
1,125,811
913,981
Interest payable and similar expenses
(5,901)
(3,816)
Profit before taxation
1,119,910
910,165
Tax on profit
(46,412)
(122,656)
Profit for the financial year
1,073,498
787,509
KOMPLEX COMMUNITY LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
24,699
Current assets
Debtors
4
2,252,472
1,254,204
Cash at bank and in hand
22,879
12,949
2,275,351
1,267,153
Creditors: amounts falling due within one year
5
(409,429)
(443,681)
Net current assets
1,865,922
823,472
Total assets less current liabilities
1,890,621
823,472
Creditors: amounts falling due after more than one year
6
(1,462)
(7,811)
Net assets
1,889,159
815,661
Capital and reserves
Called up share capital
7
2
2
Profit and loss reserves
1,889,157
815,659
Total equity
1,889,159
815,661
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 26 June 2025 and are signed on its behalf by:
Mr T Roe
Director
Company registration number 12955231 (England and Wales)
KOMPLEX COMMUNITY LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2023
2
37,150
37,152
Year ended 31 December 2023:
Profit and total comprehensive income
-
787,509
787,509
Dividends
-
(9,000)
(9,000)
Balance at 31 December 2023
2
815,659
815,661
Year ended 31 December 2024:
Profit and total comprehensive income
-
1,073,498
1,073,498
Balance at 31 December 2024
2
1,889,157
1,889,159
KOMPLEX COMMUNITY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
1
Accounting policies
Company information
Komplex Community Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Third Floor St James House, Hollinswood Road, Central Park, Telford, TF2 9TZ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is measured at fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax. Revenue is recognised on provision of care, support, placement and commissioning services.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% on cost
Fixtures and fittings
20% on cost
Computer equipments
20% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
KOMPLEX COMMUNITY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with bank.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet 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 debtors, cash and bank balances and loans to fellow group companies, 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 transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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 creditors and other loan, 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. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
KOMPLEX COMMUNITY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
130
26
KOMPLEX COMMUNITY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computer equipments
Total
£
£
£
£
Cost
At 1 January 2024
Additions
1,299
21,445
3,130
25,874
At 31 December 2024
1,299
21,445
3,130
25,874
Depreciation and impairment
At 1 January 2024
Depreciation charged in the year
108
810
257
1,175
At 31 December 2024
108
810
257
1,175
Carrying amount
At 31 December 2024
1,191
20,635
2,873
24,699
At 31 December 2023
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
86,016
Amounts owed by group undertakings
635,598
2
Other debtors
1,616,874
1,168,186
2,252,472
1,254,204
A fixed and floating charge over all assets of the company is held by Zodeq Limited for the provision of an invoice discounting facility. At the balance sheet date, the company was owed £103,937 (2023: £48,467) by Zodeq Limited, this amount is included within other debtors.
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
71,753
46,765
Corporation tax
145,953
122,656
Other taxation and social security
137,507
212,971
Other creditors
54,216
61,289
409,429
443,681
A fixed and floating charge over all assets of the company is held by Art Share Limited for the provision of a £30,000 loan facility. At the balance sheet date, the company owed £10,578 (2023: £16,926) to Art Share Limited, this amount is included within other creditors. The loan was drawn down on 26th November 2020 and is repayable over 60 months. Interest is charged on the loan at 15% per annum over the base rate.
KOMPLEX COMMUNITY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
1,462
7,811
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
8
Financial commitments, guarantees and contingent liabilities
A fixed and floating charge over all the undertakings, property and assets of the company is held by BCRS CIEF Limited. These charges are in relation to amounts borrowed by Komplex Care Limited, a related party of the company by virtue of being members of the same group.
9
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
99,123
129,123
10
Related party transactions
At the balance sheet date, the company was owed £1,315,061 (2023: £982,502) from Komplex Care Limited, £nil (2023: £720) from Komplex Health Limited, £19,740 (2023: £17,007) from Rola Property Limited, and £122,833 (2023: £119,034) from Belgravia Healthcare Limited. These companies are related parties by virtue of being members of the same group.
At the balance sheet date, the company was owed £635,598 (2023: £2) from Komplex Group Limited, the parent company.