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Registration number: 10861127

Karis Capital Limited
Unaudited Filleted Financial Statements
for the Period from 1 August 2023 to 31 December 2024

Karis Capital Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 8

Karis Capital Limited

Company Information

Director | Nicholas Christofi

Registered office | 120 Cockfosters Road Barnet EN4 0DZ

Accountants | Thomas Alexander & Co Limited 590 Green Lanes Palmers Green London N13 5RY

Karis Capital Limited

(Registration number: 10861127)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 4 | 157,924 | 6,406
Current assets |  |  |
Debtors | 5 | 168,088 | 5,667
Cash at bank and in hand |  | 432,586 | 45,760
|  | 600,674 | 51,427
Creditors: Amounts falling due within one year | 6 | (598,266) | (18,870)
Net current assets |  | 2,408 | 32,557
Total assets less current liabilities |  | 160,332 | 38,963
Creditors: Amounts falling due after more than one year | 6 | (30,093) | (37,963)
Net assets |  | 130,239 | 1,000
Capital and reserves |  |  |
Called up share capital | 7 | 1,000 | 1,000
Retained earnings |  | 129,239 | -
Shareholders' funds |  | 130,239 | 1,000

For the financial period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
• | The director acknowledges his 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 August 2025

......................................... Nicholas Christofi Director

Karis Capital Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 December 2024

1 | General information

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

The address of its registered office is:
120 Cockfosters Road
Barnet
EN4 0DZ

These financial statements were authorised for issue by the director on 15 August 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Karis Capital Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 December 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Fixtures, fittings & equipment | 25% straight line
Leasehold improvements | 3 years straight line
Plant & machinery | 3 years straight line

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 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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Karis Capital Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 December 2024

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the period, was 14 (2023 - 3).

4 | Tangible assets

| Land and buildings £ | Furniture, fittings and equipment £ | Other tangible assets £ | Total £
Cost or valuation
At 1 August 2023 | - | 11,594 | - | 11,594
Additions | 59,116 | 105,263 | 14,598 | 178,977
At 31 December 2024 | 59,116 | 116,857 | 14,598 | 190,571
Depreciation
At 1 August 2023 | - | 5,188 | - | 5,188
Charge for the period | 3,284 | 23,364 | 811 | 27,459
At 31 December 2024 | 3,284 | 28,552 | 811 | 32,647
Carrying amount
At 31 December 2024 | 55,832 | 88,305 | 13,787 | 157,924
At 31 July 2023 | - | 6,406 | - | 6,406

Included within the net book value of land and buildings above is £55,832 (2023 - £Nil) in respect of short leasehold land and buildings.

Karis Capital Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 December 2024

5 | Debtors

| Note | 2024 £ | 2023 £
Trade debtors |  | 105,543 | -
Amounts owed by group undertakings | 11 | 4,655 | -
Prepayments |  | 22,042 | -
Other debtors |  | 35,848 | 5,667
|  | 168,088 | 5,667

6 | Creditors

Creditors: amounts falling due within one year

| Note | 2024 £ | 2023 £
Due within one year |  |  |
Trade creditors |  | 135,894 | 2,277
Amounts owed to group undertakings | 11 | 90,312 | -
Social security and other taxes |  | 22,471 | -
Other payables |  | 105,834 | -
Accruals |  | 203,910 | 2,500
Corporation tax liability |  | 39,845 | 14,093
|  | 598,266 | 18,870
Due after one year |  |  |
Loans and borrowings | 8 | 30,093 | 37,963

Creditors: amounts falling due after more than one year

| Note | 2024 £ | 2023 £
Due after one year |  |  |
Loans and borrowings | 8 | 30,093 | 37,963

Karis Capital Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 December 2024

7 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordinary shares of £1 each | 1,000 | 1,000 | 1,000 | 1,000

8 | Loans and borrowings

Non-current loans and borrowings

| 2024 £ | 2023 £
Bank borrowings | 30,093 | 37,963

9 | Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

| 2024 £ | 2023 £
Later than one year and not later than five years | 249,288 | -

The amount of non-cancellable operating lease payments recognised as an expense during the period was £13,130 (2023 - £Nil).

10 | Dividends

|  | 2024 |  | 2023
|  | £ |  | £
Interim dividend of £Nil (2023 - £106.234) per ordinary share |  | - |  | 106,234

11 | Related party transactions

Included in debtors is an amount of £4,655 owed from Karis Insurance Brokers Ltd, a group company. Included in creditors is an amount of £90,312 owed to Karis Holdings Ltd, the parent company.

Karis Capital Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 December 2024

12 | Parent and ultimate parent undertaking

The company's parent is Karis Holdings Ltd , a company incorporated in the UK.