Registration number: 04416419

Kredenza Limited

Contents
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Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Kredenza Limited

Company Information
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Director

Ms Z Zivojinovic

Registered office

22 Southolm Street, London SW11 5EZ

Accountants

Brooks Green Chartered AccountantsAbbey House 342 Regents Park Road London N3 2LJ

Kredenza Limited

(Registration number: 04416419)
Balance Sheet as at 30 September 2024
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	Note	2024 £		2023 £
Fixed assets
Tangible assets	4		99,519		99,519
Current assets
Stocks	5	153,457		135,262
Debtors	6	153,061		171,759
Cash at bank and in hand		(80)		(80)
		306,438		306,941
Creditors: Amounts falling due within one year	7	(637,475)		(472,436)
Net current liabilities			(331,037)		(165,495)
Net liabilities			(231,518)		(65,976)
Capital and reserves
Called up share capital	8	100		100
Retained earnings		(231,618)		(66,076)
Shareholders' deficit			(231,518)		(65,976)

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 September 2025
 

Ms Z Zivojinovic

Director

Kredenza Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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1	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Improvements to property	Straight line over 10 years
Equipment, fixtures & fittings	10% on reducing balance
Motor vehicles	25% on reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Kredenza Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	Has been fully amortised.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Kredenza Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

Kredenza Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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3	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 October 2023	35,000	35,000
At 30 September 2024	35,000	35,000
Amortisation
At 1 October 2023	35,000	35,000
At 30 September 2024	35,000	35,000
Carrying amount
At 30 September 2024	-	-

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 October 2023	195,000	295,300	490,300
At 30 September 2024	195,000	295,300	490,300
Depreciation
At 1 October 2023	127,500	263,281	390,781
At 30 September 2024	127,500	263,281	390,781
Carrying amount
At 30 September 2024	67,500	32,019	99,519
At 30 September 2023	67,500	32,019	99,519

Included within the net book value of land and buildings above is £67,500 (2023 - £67,500) in respect of freehold land and buildings.
 

Kredenza Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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5

Stocks

	2024 £	2023 £
Other inventories	153,457	135,262

6

Debtors

Current	2024 £	2023 £
Trade debtors	43,058	26,247
Prepayments	90,882	121,178
Other debtors	19,121	24,334
	153,061	171,759

7

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Bank loans and overdrafts	32,399	36,513
Trade creditors	115,542	114,229
Directors current account	105,116	114,980
Taxation and social security	1,258	18,371
Other creditors	383,160	188,343
	637,475	472,436

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100