REGISTERED NUMBER: NI045036 (Northern Ireland)

KURATE INTERNATIONAL LTD

Unaudited Financial Statements for the Year Ended 31 December 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

John Campbell

Christopher Campbell

REGISTERED OFFICE:

Unit 6 Derryloran Industrial Estate

Sandholes Road

Cookstown

Co. Tyrone

BT80 9LU

REGISTERED NUMBER:

NI045036 (Northern Ireland)

ACCOUNTANTS:

Cooper Parry Advisory Limited

36-38 Northland Row

Dungannon

Co. Tyrone

BT71 6AP

NON-CURRENT ASSETS

Property, plant and equipment

5

86,134

111,577

CURRENT ASSETS

Inventories

6

508,950

491,323

Receivables

7

2,093,836

1,786,628

Cash at bank

173,543

13,065

2,776,329

2,291,016

PAYABLES

Amounts falling due within one year

8

(658,895

)

(554,845

)

NET CURRENT ASSETS

2,117,434

1,736,171

TOTAL ASSETS LESS CURRENT LIABILITIES

2,203,568

1,847,748

PAYABLES

Amounts falling due after more than one year

9

(286,438

)

(13,432

)

PROVISIONS FOR LIABILITIES

(12,069

)

(12,069

)

NET ASSETS

1,905,061

1,822,247

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

1,904,961

1,822,147

SHAREHOLDERS' FUNDS

1,905,061

1,822,247

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2025 and were signed on its behalf by:

Christopher Campbell - Director

1.	STATUTORY INFORMATION

Kurate International Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are prepared under the historical cost convention modified when necessary to include the revaluation of certain non current assets.

The accounting policies detailed below have been applied consistently throughout the year.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% reducing balance

Fixtures and fittings

-

25% reducing balance

The carrying values of property, plant and equipment are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Inventories

Inventories are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

Cash flow statement

The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 14 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 January 2024

95,203

302,064

397,267

Additions

2,899

-

2,899

At 31 December 2024

98,102

302,064

400,166

DEPRECIATION

At 1 January 2024

85,542

200,148

285,690

Charge for year

2,863

25,479

28,342

At 31 December 2024

88,405

225,627

314,032

NET BOOK VALUE

At 31 December 2024

9,697

76,437

86,134

At 31 December 2023

9,661

101,916

111,577

6.	INVENTORIES

2024

2023

£

£

Inventories

508,950

491,323

7.	RECEIVABLES

2024

2023

£

£

Trade receivables

672,897

572,539

Amounts owed by group undertakings

1,410,775

1,204,721

Prepayments and accrued income

10,164

9,368

2,093,836

1,786,628

8.	PAYABLES LESS THAN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

20,943

116,813

Trade payables

483,881

287,889

Taxation and social security

134,001

133,289

Other payables

20,070

16,854

658,895

554,845

9.

PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR

2024

2023

£

£

Bank loans

286,438

13,432

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

1

100

100

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of 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.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Kurate Holdings Ltd.

Kurate Holdings Ltd is registered in Northern Ireland to be the company's parent company. Kurate Holdings Ltd has a 100% interest in the ordinary share capital of Kurate International Ltd at 31st December 2024.