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KINSMAN ASSOCIATES LIMITED

Registered Number
01557850
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

KINSMAN ASSOCIATES LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

E Kinsman
R W Kinsman

Registered Address

56 West Street
Shoreham-By-Sea
BN43 5WG

Place of Business

30 Gresse Street

London

W1T 1QR


Registered Number

01557850 (England and Wales)
KINSMAN ASSOCIATES LIMITED
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Current assets
Debtors3168,975199,237
Cash at bank and on hand14,14828,154
183,123227,391
Creditors amounts falling due within one year4(206,084)(253,487)
Net current assets (liabilities)(22,961)(26,096)
Total assets less current liabilities(22,961)(26,096)
Net assets(22,961)(26,096)
Capital and reserves
Called up share capital100100
Profit and loss account(23,061)(26,196)
Shareholders' funds(22,961)(26,096)
The financial statements were approved and authorised for issue by the Board of Directors on 10 June 2025, and are signed on its behalf by:
R W Kinsman
Director
Registered Company No. 01557850
KINSMAN ASSOCIATES LIMITED
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation 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 of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year22
3.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables-3,600
Other debtors143,537170,243
Prepayments and accrued income25,43825,394
Total168,975199,237
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,3874,753
Taxation and social security1,5423,119
Other creditors200,456243,015
Accrued liabilities and deferred income2,6992,600
Total206,084253,487
5.Directors advances, credits and guarantees
Other creditors include an amount of £200,456 (2023: £243,015) owed to the company's directors. This loan is interest-free and repayable on demand.
6.Related party transactions
OMK Design Limited is a company where the directors have a material interest. During the year, the company charged consulting fees of £25,000 (2023: £25,000) to OMK Design Limited. Other debtors include £127,714 (2023: £157,714) owed from OMK Design Limited. The loan is interest-free and repayable on demand.