Registration number: 05882097

KOR Communications Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 8

KOR Communications Limited

Company Information

Directors

Mrs A Newman Mr G Newman

Registered office

The West Wing Old Broadclyst Station Exeter EX5 3AS

Accountants

Thompson Jenner LLP Chartered Accountants 1 Colleton Crescent Exeter Devon EX2 4DG

KOR Communications Limited

(Registration number: 05882097)
Balance Sheet as at 31 July 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	18,637	21,512
Current assets
Debtors	6	73,804	96,300
Cash at bank and in hand		207,364	176,249
		281,168	272,549
Creditors: Amounts falling due within one year	7	(124,724)	(121,608)
Net current assets		156,444	150,941
Total assets less current liabilities		175,081	172,453
Creditors: Amounts falling due after more than one year	7	(22,546)	(28,240)
Provisions for liabilities		(1,966)	(2,371)
Net assets		150,569	141,842
Capital and reserves
Called up share capital		540	540
Retained earnings		150,029	141,302
Shareholders' funds		150,569	141,842

For the financial year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 24 October 2025 and signed on its behalf by:
 

......................................... Mr G Newman Director

KOR Communications Limited

Notes to the Financial Statements for the Year Ended 31 July 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The West Wing
Old Broadclyst Station
Exeter
EX5 3AS

2	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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

KOR Communications Limited

Notes to the Financial Statements for the Year Ended 31 July 2025

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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
Fixtures, fittings, tools and equipment	20% straight line
Motor vehicles	20% 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.

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	20% straight line

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.

KOR Communications Limited

Notes to the Financial Statements for the Year Ended 31 July 2025

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

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2024 - 11).

KOR Communications Limited

Notes to the Financial Statements for the Year Ended 31 July 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 August 2024	8,820	8,820
At 31 July 2025	8,820	8,820
Amortisation
At 1 August 2024	8,820	8,820
At 31 July 2025	8,820	8,820
Carrying amount
At 31 July 2025	-	-
At 31 July 2024	-	-

KOR Communications Limited

Notes to the Financial Statements for the Year Ended 31 July 2025

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 August 2024	122,084	122,084
Additions	5,100	5,100
Disposals	(90,051)	(90,051)
At 31 July 2025	37,133	37,133
Depreciation
At 1 August 2024	100,572	100,572
Charge for the year	7,975	7,975
Eliminated on disposal	(90,051)	(90,051)
At 31 July 2025	18,496	18,496
Carrying amount
At 31 July 2025	18,637	18,637
At 31 July 2024	21,512	21,512

6

Debtors

	2025 £	2024 £
Trade debtors	64,777	88,263
Other debtors	20	20
Prepayments and accrued income	9,007	8,017
Total current trade and other debtors	73,804	96,300

KOR Communications Limited

Notes to the Financial Statements for the Year Ended 31 July 2025

7

Creditors

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	5,593	5,324
Trade creditors		7,419	5,644
Taxation and social security		102,588	100,516
Other creditors		4,559	6,843
Accrued expenses		4,565	3,281
		124,724	121,608
Due after one year
Loans and borrowings	8	22,546	28,240

8	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	5,593	5,324

Current loans and borrowings include hire purchase contracts, the creditors of which are secured upon the assets under finance.

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	22,546	28,240