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Registered number: 14101442
KMK Kinderzimmer UK Holding Ltd
Directors' report and financial statements
For the year ended 31 December 2024
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KMK Kinderzimmer UK Holding Ltd
Company Information
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F Beuche (appointed 11 October 2024)
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K Kruse (appointed 11 October 2024)
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M Kruse (appointed 11 October 2024)
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D C Grimm (resigned 1 July 2024)
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C V Roberts (appointed 1 July 2024, resigned 17 October 2024)
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Chartered Accountants & Statutory Auditor
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168 Shoreditch High Street
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KMK Kinderzimmer UK Holding Ltd
Contents
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Directors' responsibilities statement
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Consolidated statement of comprehensive income
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Consolidated balance sheet
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Consolidated statement of changes in equity
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Company statement of changes in equity
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Notes to the financial statements
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KMK Kinderzimmer UK Holding Ltd
Directors' report
For the year ended 31 December 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
The loss for the year, after taxation, amounted to £4,377,291 (2023 - loss £1,331,520).
The directors who served during the year were:
F Beuche (appointed 11 October 2024)
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K Kruse (appointed 11 October 2024)
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M Kruse (appointed 11 October 2024)
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D C Grimm (resigned 1 July 2024)
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C V Roberts (appointed 1 July 2024, resigned 17 October 2024)
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This report was approved by the board on 30 September 2025 and signed on its behalf.
Page 1
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KMK Kinderzimmer UK Holding Ltd
Directors' responsibilities statement
For the year ended 31 December 2024
The directors are responsible for preparing the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 2
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KMK Kinderzimmer UK Holding Ltd
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of KMK Kinderzimmer UK Holding Ltd for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of KMK Kinderzimmer UK Holding Ltd for the year ended 31 December 2024 which comprise the Consolidated statement of comprehensive income, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes from the Group's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.
This report is made solely to the Board of directors of KMK Kinderzimmer UK Holding Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of KMK Kinderzimmer UK Holding Ltd and state those matters that we have agreed to state to the Board of directors of KMK Kinderzimmer UK Holding Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KMK Kinderzimmer UK Holding Ltd and its Board of directors, as a body, for our work or for this report.
It is your duty to ensure that KMK Kinderzimmer UK Holding Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of KMK Kinderzimmer UK Holding Ltd. You consider that KMK Kinderzimmer UK Holding Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or review of the financial statements of KMK Kinderzimmer UK Holding Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Kreston Reeves LLP
Chartered Accountants
Second Floor
168 Shoreditch High Street
London
E1 6RA
30 September 2025
Page 3
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KMK Kinderzimmer UK Holding Ltd
Consolidated statement of comprehensive income
For the year ended 31 December 2024
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Interest receivable and similar income
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Interest payable and similar expenses
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Loss for the financial year
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Loss for the year attributable to:
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Owners of the parent company
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The notes on pages 9 to 22 form part of these financial statements.
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Page 4
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KMK Kinderzimmer UK Holding Ltd
Registered number: 14101442
Consolidated balance sheet
As at 31 December 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Net current (liabilities)/assets
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The exemption is claimed on the basis that the group met the qualifying conditions for a small group in the prior financial year and only ceased to meet those conditions in the current year.
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.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 September 2025.
The notes on pages 9 to 22 form part of these financial statements.
Page 5
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KMK Kinderzimmer UK Holding Ltd
Registered number: 14101442
Company balance sheet
As at 31 December 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Profit and loss account carried forward
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The exemption is claimed on the basis that the group met the qualifying conditions for a small group in the prior financial year and only ceased to meet those conditions in the current year.
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.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 September 2025.
The notes on pages 9 to 22 form part of these financial statements.
Page 6
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KMK Kinderzimmer UK Holding Ltd
Consolidated statement of changes in equity
For the year ended 31 December 2024
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Equity attributable to owners of Parent Company
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Shares issued during the year
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The notes on pages 9 to 22 form part of these financial statements.
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Page 7
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KMK Kinderzimmer UK Holding Ltd
Company statement of changes in equity
For the year ended 31 December 2024
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Comprehensive income for the year
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Shares issued during the year
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The notes on pages 9 to 22 form part of these financial statements.
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Page 8
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KMK Kinderzimmer UK Holding Ltd
Notes to the financial statements
For the year ended 31 December 2024
KMK Kinderzimmer UK Holding Ltd is a private company, limited by shares, incorporated and registered in England and Wales. The company's registered number and its principal place of business can be found on the Company information page.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies.
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.
The Group has not prepared a consolidated statement of cash flows in accordance with the exemption available under FRS 102 Section 7.1A. as the group qualifies as medium-sized and meets the conditions set out in Section 399A of the Companies Act 2006, including the two-year rule.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
The pre-trading balances incurred on behalf of the subsidiaries have been eliminated on consolidation from the period in which the subsidiaries commenced trading.
Page 9
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KMK Kinderzimmer UK Holding Ltd
Notes to the financial statements
For the year ended 31 December 2024
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.
Page 10
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KMK Kinderzimmer UK Holding Ltd
Notes to the financial statements
For the year ended 31 December 2024
2.Accounting policies (continued)
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
∙the Group has transferred the significant risks and rewards of ownership to the buyer;
∙the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of revenue can be measured reliably;
∙it is probable that the Group will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Group will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
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Operating leases: the Group as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Page 11
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KMK Kinderzimmer UK Holding Ltd
Notes to the financial statements
For the year ended 31 December 2024
2.Accounting policies (continued)
Defined contribution pension plan
The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Group in independently administered funds.
Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated statement of comprehensive income over its useful economic life.
Other intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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Long-term leasehold property
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Page 12
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KMK Kinderzimmer UK Holding Ltd
Notes to the financial statements
For the year ended 31 December 2024
2.Accounting policies (continued)
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
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An analysis of turnover by class of business is as follows:
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Analysis of turnover by country of destination:
Page 13
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KMK Kinderzimmer UK Holding Ltd
Notes to the financial statements
For the year ended 31 December 2024
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The operating loss is stated after charging:
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Other operating lease rentals
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Staff costs were as follows:
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Cost of defined contribution scheme
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The average monthly number of employees, including the directors, during the year was as follows:
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Other interest receivable
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Interest payable and similar expenses
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Page 14
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KMK Kinderzimmer UK Holding Ltd
Notes to the financial statements
For the year ended 31 December 2024
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Factors affecting tax charge for the year
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The tax assessed for the year is higher than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 23.5%). The differences are explained below:
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Loss on ordinary activities before tax
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Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 23.5%)
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Unrelieved tax losses carried forward
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Total tax charge for the year
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Factors that may affect future tax charges
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There were no factors that may affect future tax charges.
Page 15
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KMK Kinderzimmer UK Holding Ltd
Notes to the financial statements
For the year ended 31 December 2024
9.Intangible assets (continued)
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Long-term leasehold property
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Page 16
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KMK Kinderzimmer UK Holding Ltd
Notes to the financial statements
For the year ended 31 December 2024
10.Tangible fixed assets (continued)
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The net book value of land and buildings may be further analysed as follows:
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Long-term leasehold property
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Page 17
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KMK Kinderzimmer UK Holding Ltd
Notes to the financial statements
For the year ended 31 December 2024
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Investments in subsidiary companies
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The following were subsidiary undertakings of the Company:
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KMK Kinderzimmer 1 Muswell Hill Limited
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3a Montagu Row, London, W1U 6DZ
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KMK Kinderzimmer 2 Walton on Thames Limited
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3a Montagu Row, London, W1U 6DZ
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KMK Kinderzimmer 3 Berkhamsted Limited
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3a Montagu Row, London, W1U 6DZ
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KMK Kinderzimmer 4 South Kensington Limited
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3a Montagu Row, London, W1U 6DZ
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KMK Kinderzimmer 5 Sunbury Limited
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3a Montagu Row, London, W1U 6DZ
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KMK Kinderzimmer 6 White City Limited
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3a Montagu Row, London, W1U 6DZ
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KMK Kinderzimmer 7 Walthamstow Limited
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3a Montagu Row, London, W1U 6DZ
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KMK Kinderzimmer 8 Chelmsford Limited
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3a Montagu Row, London, W1U 6DZ
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KMK Kinderzimmer 9 Godalming Limited
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3a Montagu Row, London, W1U 6DZ
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KMK Kinderzimmer 10 Amersham Limited
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3a Montagu Row, London, W1U 6DZ
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Page 18
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KMK Kinderzimmer UK Holding Ltd
Notes to the financial statements
For the year ended 31 December 2024
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Amounts owed by group undertakings
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Prepayments and accrued income
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Amounts owed to group undertakings
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Page 19
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KMK Kinderzimmer UK Holding Ltd
Notes to the financial statements
For the year ended 31 December 2024
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Allotted, called up and fully paid
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500 (2023 - 100) Ordinary shares of £1.00 each
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During the period, KMK Kinderzimmer UK Holding Limited allotted and issued 400 shares at £1 each.
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Share premium account
This represents the amount paid in excess of the nominal value of shares that have been issued by the company.
Profit and loss account
This reserve comprises all current and prior period retained profits and losses after deducting any distributions made to the company's shareholders.
The Group operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £78,624 (2023: £30,725). Contributions totalling £27,377 (2023: £11,124) were payable to the fund at the balance sheet date and are included in creditors.
Page 20
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KMK Kinderzimmer UK Holding Ltd
Notes to the financial statements
For the year ended 31 December 2024
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Related party transactions
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KMK Kinderzimmer 1 Muswell Hill Limited
(Subsidiary company)
During the year the company provided a loan to KMK Kinderzimmer 1 Muswell Hill Limited. The loan is interest free and repayable on demand. At the balance sheet date the amount owed from KMK Kinderzimmer 1 Muswell Hill Limited was £1,573,906.
KMK Kinderzimmer 2 Walton on Thames Limited
(Subsidiary company)
During the year the company provided a loan to KMK Kinderzimmer 2 Walton on Thames Limited. The loan is interest free and repayable on demand. At the balance sheet date the amount owed from KMK Kinderzimmer 2 Walton on Thames Limited was £2,386,283.
KMK Kinderzimmer 3 Berkhamsted Limited
(Subsidiary company)
During the year the company provided a loan to KMK Kinderzimmer 3 Berkhamsted Limited. The loan is interest free and repayable on demand. At the balance sheet date the amount owed from KMK Kinderzimmer 3 Berkhamsted Limited was £2,259,422.
KMK Kinderzimmer 4 South Kensington Limited
(Subsidiary company)
During the year the company provided a loan to KMK Kinderzimmer 4 South Kensington Limited. The loan is interest free and repayable on demand. At the balance sheet date the amount owed from KMK Kinderzimmer 4 South Kensington Limited was £2,248,808.
KMK Kinderzimmer 5 Sunbury Limited
(Subsidiary company)
During the year the company provided a loan to KMK Kinderzimmer 5 Sunbury Limited. The loan is interest free and repayable on demand. At the balance sheet date the amount owed from KMK Kinderzimmer 5 Sunbury Limited was £1,898,100.
KMK Kinderzimmer 6 White City Limited
(Subsidiary company)
During the year the company provided a loan to KMK Kinderzimmer 6 White City Limited. The loan is interest free and repayable on demand. At the balance sheet date the amount owed from KMK Kinderzimmer 6 White City Limited was £1,336,899.
KMK Kinderzimmer 7 Walthamstow Limited
(Subsidiary company)
During the year the company provided a loan to KMK Kinderzimmer 7 Walthamstow Limited. The loan is interest free and repayable on demand. At the balance sheet date the amount owed from KMK Kinderzimmer 7 Walthamstow Limited was £1,544,736.
KMK Kinderzimmer 8 Chelmsford Limited
(Subsidiary company)
During the year the company provided a loan to KMK Kinderzimmer 8 Chelmsford Limited. The loan is interest free and repayable on demand. At the balance sheet date the amount owed from KMK Kinderzimmer 8 Chelmsford Limited was £1,688,252.
KMK Kinderzimmer 10 Amersham Limited
(Subsidiary company)
During the year the company provided a loan to KMK Kinderzimmer 10 Amersham Limited. The loan is interest free and repayable on demand. At the balance sheet date the amount owed from KMK Kinderzimmer 10 Amersham Limited was £1,981,048.
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Page 21
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KMK Kinderzimmer UK Holding Ltd
Notes to the financial statements
For the year ended 31 December 2024
Tibeca21 Management GmbH is considered the ultimate controlling party by virtue of its majority shareholding.
Page 22
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