KARATAGE SERVICES LIMITED


Directors	ALPORT, Leigh-Ann
	BARNETT, Marius Lance Morris


Registered Address	40 Portland Place
	London
	W1B 1NB


Registered Number	14322872 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		953,331		688,333
			953,331		688,333
Current assets
Debtors		1,128,362		1,924,027
Cash at bank and on hand		125,455		72,270
		1,253,817		1,996,297
Creditors amounts falling due within one year	4	(1,733,644)		(2,503,967)
Net current assets (liabilities)			(479,827)		(507,670)
Total assets less current liabilities			473,504		180,663
Net assets			473,504		180,663
Capital and reserves
Profit and loss account			473,504		180,663
Shareholders' funds			473,504		180,663

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 4 December 2025, and are signed on its behalf by:

BARNETT, Marius Lance Morris
Director
Registered Company No. 14322872

KARATAGE SERVICES LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The presentational currency of the financial statements is GBP.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Revenue from rendering of services
	Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Operating leases
	Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Straight line (years)
	Land and buildings	20
	Fixtures and fittings	5
	Office Equipment	3

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	7		4

3.	Tangible fixed assets

	Land & buildings	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 January 24	685,047	-	3,588	688,635
Additions	133,250	158,752	113,232	405,234
Transfers	(371,185)	371,185	-	-
At 31 December 24	447,112	529,937	116,820	1,093,869
Depreciation and impairment
At 01 January 24	-	-	302	302
Charge for year	29,832	96,350	14,054	140,236
At 31 December 24	29,832	96,350	14,356	140,538
Net book value
At 31 December 24	417,280	433,587	102,464	953,331
At 31 December 23	685,047	-	3,286	688,333

4.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	838,214	78,351
Taxation and social security	192,629	13,453
Other creditors	227,139	1,827,728
Accrued liabilities and deferred income	475,662	584,435
Total	1,733,644	2,503,967


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

5.	Operating lease commitments
	At 31 December 2024 (Company year end), the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £3,048,075 (2023 – £3,405,294). These commitments are made up of £356,243 due in less than 1 year, £1,782,192 falling due between 1 and 5 years and £909,640 falling due after 5 years.