Komfovent Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 14545863

KOMFOVENT LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2024

KOMFOVENT LTD

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		78,572	99,563

Current assets

Stocks		58,854	41,223
Debtors	6	212,570	300,494
Cash at bank and in hand		168,210	125,022
		---------	---------
		439,634	466,739

Creditors: amounts falling due within one year	7	( 468,540)		( 467,010)
		---------		---------
Net current liabilities			( 28,906)	( 271)
			--------	--------
Total assets less current liabilities			49,666	99,292

Creditors: amounts falling due after more than one year	8		( 238,714)	( 239,337)

Provisions	45,831	34,560
	---------	---------
Net liabilities	( 143,217)	( 105,485)
	---------	---------

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 143,218)	( 105,486)
	---------	---------
Shareholders deficit	( 143,217)	( 105,485)
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the 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.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

KOMFOVENT LTD

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 2 September 2025 , and are signed on behalf of the board by:

S Mulholland
Director

Company registration number: 14545863

KOMFOVENT LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit C1, Kingfisher Boulevard, Newcastle upon Tyne, NE15 8NZ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

Despite making a loss the company is receiving financial support from other group members. The parent company has provided an interest only loan, and payment for purchases from group members has been deferred until the company starts to generate a profit. For these reasons the director considers the company to be a going concern and the accounts are prepared on the going concern basis.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and equipment	-	15% reducing balance
Motor vehicles	-	25% reducing balance
Computer equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

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 entity after deducting all of its financial liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2023: 3 ).

5. Tangible assets

Fixtures and equipment	Motor vehicles	Computer equipment	Total
£	£	£	£

Cost
At 1 January 2024	4,428	127,420	2,545	134,393
Additions	4,236	–	571	4,807
Disposals	–	–	( 67)	( 67)
	-------	---------	-------	---------
At 31 December 2024	8,664	127,420	3,049	139,133
	-------	---------	-------	---------
Depreciation
At 1 January 2024	693	33,251	886	34,830
Charge for the year	1,196	23,542	1,016	25,754
Disposals	–	–	( 23)	( 23)
	-------	---------	-------	---------
At 31 December 2024	1,889	56,793	1,879	60,561
	-------	---------	-------	---------
Carrying amount
At 31 December 2024	6,775	70,627	1,170	78,572
	-------	---------	-------	---------
At 31 December 2023	3,735	94,169	1,659	99,563
	-------	---------	-------	---------

6. Debtors

	2024	2023
	£	£

Trade debtors	93,627	286,452
Other debtors	118,943	14,042
	---------	---------
	212,570	300,494
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£

Trade creditors	464,243	390,488
Social security and other taxes	–	71,889
Other creditors	4,297	4,633
	---------	---------
	468,540	467,010
	---------	---------

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£

Other creditors	238,714	239,337
	---------	---------

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£

Later than 1 year and not later than 5 years	70,386	125,086
	--------	---------

10. Controlling party

The company is a 100% subsidiary of Amalva Group UAB . The registered office of Amalva Group UAB is 146 Lentvario Street, Vilnius, Lithuania, 25132. The company is under the control of A Menkevicius who controls the majority of the voting rights in Amalva Group UAB.