KORDIS LIMITED
Company registration number 04469516 (England and Wales)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
KORDIS LIMITED
CONTENTS
Page
Directors' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
KORDIS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The directors present their annual report and financial statements for the year ended 31 December 2024.

Principal activities
The principal activity of the company continued to be the distribution of plastic packaging.
Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr K P Nakhla
Mr S Clausen-Bruun
Auditor

Byrd + Link were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr K P Nakhla
Director
29 April 2025
KORDIS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
85
85
Current assets
Stocks
1,411,701
1,226,435
Debtors
5
1,124,654
1,193,521
Cash at bank and in hand
296,671
1,227,765
2,833,026
3,647,721
Creditors: amounts falling due within one year
6
(1,660,736)
(2,068,703)
Net current assets
1,172,290
1,579,018
Net assets
1,172,375
1,579,103
Capital and reserves
Called up share capital
7
2
2
Profit and loss reserves
1,172,373
1,579,101
Total equity
1,172,375
1,579,103

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 29 April 2025 and are signed on its behalf by:
Mr K P Nakhla
Director
Company registration number 04469516 (England and Wales)
KORDIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Kordis Limited is a private company limited by shares incorporated in England and Wales. The registered office is Dyke Yaxley, 1 Brassey Road, Old Potts Way, Shrewsbury, Shropshire, SY3 7FA.

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.

1.2
Turnover

Turnover represents amounts receivable for goods net of VAT and trade discounts.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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:

Plant and machinery
33% straight line
1.4
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Stock is measured on the first-in-first-out (FIFO) basis.

KORDIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

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.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

KORDIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.14

Invoice discounting

Amounts due in respect of invoice discounting are separately disclosed as current liabilities. The company can use these facilities to draw down a percentage of the value of certain sales invoices. The management and collection of trade receivables remains within the company.

2
Employees

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

2024
2023
Number
Number
Total
7
7
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 and 31 December 2024
2,450
Depreciation and impairment
At 1 January 2024 and 31 December 2024
2,450
Carrying amount
At 31 December 2024
-
0
At 31 December 2023
-
0
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
85
85
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,036,255
1,085,801
Amounts owed by group undertakings
21,019
3,778
Other debtors
67,380
103,942
1,124,654
1,193,521
KORDIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
478,103
623,390
Taxation and social security
274,922
494,572
Other creditors
907,711
950,741
1,660,736
2,068,703
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 0.02p each
10,000
10,000
2
2
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Russel Byrd (FCA)
Statutory Auditor:
Byrd Link Audit and Accountancy Services Limited
Date of audit report:
7 May 2025
9
Related party transactions

During the year the company entered into an interest bearing loan agreement with a company under common control.

There is a balance of £556,148 owing to Rocktel Services Limited at the year-end. This loan is repayable on demand.

The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

2024-12-31 2024-01-01 false false false 07 May 2025 CCH Software CCH Accounts Production 2025.100 Mr K P Nakhla Mr S Clausen-Bruun 04469516 2024-01-01 2024-12-31 04469516 bus:Director1 2024-01-01 2024-12-31 04469516 bus:Director2 2024-01-01 2024-12-31 04469516 2024-12-31 04469516 2023-12-31 04469516 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 04469516 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04469516 core:CurrentFinancialInstruments 2024-12-31 04469516 core:CurrentFinancialInstruments 2023-12-31 04469516 core:ShareCapital 2024-12-31 04469516 core:ShareCapital 2023-12-31 04469516 core:RetainedEarningsAccumulatedLosses 2024-12-31 04469516 core:RetainedEarningsAccumulatedLosses 2023-12-31 04469516 core:ShareCapitalOrdinaryShareClass1 2024-12-31 04469516 core:ShareCapitalOrdinaryShareClass1 2023-12-31 04469516 core:PlantMachinery 2024-01-01 2024-12-31 04469516 2023-01-01 2023-12-31 04469516 core:OtherPropertyPlantEquipment 2023-12-31 04469516 core:OtherPropertyPlantEquipment 2024-12-31 04469516 core:OtherPropertyPlantEquipment 2023-12-31 04469516 core:WithinOneYear 2024-12-31 04469516 core:WithinOneYear 2023-12-31 04469516 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 04469516 bus:OrdinaryShareClass1 2024-12-31 04469516 bus:OrdinaryShareClass1 2023-12-31 04469516 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04469516 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 04469516 bus:FRS102 2024-01-01 2024-12-31 04469516 bus:Audited 2024-01-01 2024-12-31 04469516 bus:FullAccounts 2024-01-01 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP