Company registration number 11057139 (England and Wales)
KI PAL LIMITED
Unaudited financial statements
For the year ended 31 December 2024
KI PAL LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
KI PAL LIMITED
BALANCE SHEET
As at 31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
1
9,600
Cash at bank and in hand
2,990
40,483
2,991
50,083
Creditors: amounts falling due within one year
4
(2,990)
(50,082)
Net current assets
1
1
Capital and reserves
Called up share capital
1
1

The notes on pages 2 to 3 form part of these financial statements.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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 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.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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 1 September 2025 and are signed on its behalf by:
Mrs H J Enright
Director
Company Registration No. 11057139
KI PAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2024
- 2 -
1
Accounting policies
Company information

KI Pal Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ashcombe Court, Woolsack Way, Godalming, Surrey, GU7 1LQ.

1.1
Basis of preparation

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.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents income receivable from theatrical productions, net of VAT and other sales related taxes. Turnover is recognised in the period in which the performance occurred.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Rental income from sets is accounted for in the period in which the hire has taken place.

2
Employees
2024
2023
Number
Number
Total
0
0
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
9,600
Other debtors
1
-
0
1
9,600
KI PAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (continued)
For the year ended 31 December 2024
- 3 -
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
15
15
Amounts owed to group undertakings
-
0
6,453
Other creditors
-
0
38,164
Accruals and deferred income
2,975
5,450
2,990
50,082
5
Related party transactions
Balances with related parties

The following amounts were outstanding at the reporting end date:

Amounts owed by
Amounts owed to
related parties
related parties
2024
2023
2024
2023
£
£
£
£
Entities with control, joint control or significant influence over the company
-
0
-
0
-
0
6,453
6
Parent company

The company’s immediate parent is Trafalgar Theatre Productions Limited, a company incorporated in the United Kingdom and registered in England and Wales.

However, the directors of Trafalgar Theatre Productions Limited do not consider that the company controls KI Pal Limited. The accounts for the smallest group for which consolidated accounts are prepared and which include Trafalgar Theatre Productions Limited include the following statement, “KI Pal Limited is not considered to be an entity over which any controls or significant influence is exerted by the group”.

The directors of KI Pal Limited concur with that assessment and do not consider that there is a controlling party. Therefore, the directors consider it appropriate to take advantage of such exemptions as are available to a company which is not a subsidiary company.

The ultimate controlling party is Barings Asset-Based Income Fund (US) LP, by virtue of its 82.98% holding in the issued share capital of Trafalgar Entertainment Group Limited.

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