Company registration number 09957803 (England and Wales)
KX COWORKING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
KX COWORKING LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
KX COWORKING LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
91,230
124,570
Current assets
Debtors
4
39,280
28,990
Cash at bank and in hand
39,562
58,485
78,842
87,475
Creditors: amounts falling due within one year
5
(25,998)
(38,355)
Net current assets
52,844
49,120
Total assets less current liabilities
144,074
173,690
Creditors: amounts falling due after more than one year
6
-
(8,333)
Net assets
144,074
165,357
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
144,073
165,356
Total equity
144,074
165,357
KX COWORKING LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
2

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.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 12 September 2025 and are signed on its behalf by:
Mr RJ Spens
Director
Company registration number 09957803 (England and Wales)
KX COWORKING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
3
1
Accounting policies
Company information

KX Coworking Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Ark Coworking, Carnegie Street, London, N1 9QW.

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 a mounts 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.

These financial statements for the year ended 31 December 2024 are the first financial statements of KX Coworking Ltd prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 January 2023. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

1.2
Turnover

Turnover is recognised at the fair value of the consideration receivable for services provided in the normal course of business, and is shown net of VAT.

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:

Leasehold improvements
6 years straight line
Plant and equipment
5 to 3 years straight line
Fixtures and fittings
3 years straight line
Computers
4 and 3 years straight line
Motor vehicles
3 years straight line
KX COWORKING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies (Continued)
4

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
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.5
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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, 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, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.6
Leases
As lessee

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 lease s asset are consumed.

KX COWORKING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
5
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
3
3
Tangible fixed assets
Leasehold
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024 and 31 December 2024
138,569
47,625
186,194
Depreciation and impairment
At 1 January 2024
46,190
15,434
61,624
Depreciation charged in the year
23,095
10,245
33,340
At 31 December 2024
69,285
25,679
94,964
Carrying amount
At 31 December 2024
69,284
21,946
91,230
At 31 December 2023
92,379
32,191
124,570
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
33,339
14,793
Other debtors
5,941
14,197
39,280
28,990
KX COWORKING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
6
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2
7,998
Taxation and social security
9,824
10,273
Other creditors
16,172
20,084
25,998
38,355
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
-
0
8,333
7
Operating lease commitments
As 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
£
£
Total commitments
164,000
212,000
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