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Registration number: 07266068

S K Corporate Limited Unaudited Financial Statements for the Year Ended 31 May 2025
Brebners Chartered Accountants 1 Suffolk Way Sevenoaks Kent TN13 1YL

S K Corporate Limited

Contents

Company Information | 1
Statement of Financial Position | 2 to 3
Notes to the Financial Statements | 4 to 8

S K Corporate Limited

Company Information

Directors | D A Kinnaird S Kinnaird M Kinnaird

Registered office | 130 Shaftesbury Avenue 2nd Floor London W1D 5EU

Accountants | Brebners Chartered Accountants 1 Suffolk Way Sevenoaks Kent TN13 1YL

S K Corporate Limited

Statement of Financial Position as at 31 May 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 233,504 | 221,158
Current assets |  |  |
Stocks | 5 | 223,498 | 223,498
Debtors | 6 | 530,030 | 482,699
Cash at bank and in hand |  | 255,165 | 127,967
|  | 1,008,693 | 834,164
Creditors: Amounts falling due within one year | 7 | (898,107) | (700,985)
Net current assets |  | 110,586 | 133,179
Total assets less current liabilities |  | 344,090 | 354,337
Provisions for liabilities |  | (44,838) | (37,356)
Net assets |  | 299,252 | 316,981
Capital and reserves |  |  |
Called up share capital |  | 300 | 300
Profit and loss account |  | 298,952 | 316,681
Total equity |  | 299,252 | 316,981

For the financial year ending 31 May 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors of S K Corporate Limited have elected not to include a copy of the profit and loss account within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

S K Corporate Limited

Statement of Financial Position as at 31 May 2025

Approved and authorised by the Board on 7 January 2026 and signed on its behalf by:

.........................................

D A Kinnaird

Director

.........................................

S Kinnaird

Director

Company registration number: 07266068

S K Corporate Limited

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

1 | General information

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

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the manufacture of injection moulded plastic products.

2 | Accounting policies

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company made a profit for the year ended 31 May 2025 and had net assets at that date of £299,252 including cash at bank amounting to £255,165. The company’s most recent management accounts indicate that the company continues to trade profitably subsequent to 31 May 2025.
On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer on despatch of the goods.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge 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.

S K Corporate Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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
Plant and machinery | 15% Reducing balance
Motor vehicles | 25% Reducing balance
Furniture, fittings and equipment | 25% to 33% Straight line
Leasehold improvements | Straight line over 4 years

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.

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.

Operating 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.

S K Corporate Limited

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

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 during the year, was 6 (2024 - 6).

S K Corporate Limited

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

4 | Tangible assets

| Leasehold improvements £ | Furniture, fittings and equipment £ | Motor vehicles £ | Plant and machinery £ | Total £
Cost or valuation
At 1 June 2024 | - | 60,005 | 109,303 | 446,039 | 615,347
Transfers | 54,611 | (54,611) | - | - | -
Additions | 22,351 | 1,328 | - | 37,156 | 60,835
At 31 May 2025 | 76,962 | 6,722 | 109,303 | 483,195 | 676,182
Depreciation
At 1 June 2024 | - | 41,805 | 79,980 | 272,404 | 394,189
Transfers | 36,411 | (36,411) | - | - | -
Charge for the year | 10,896 | 240 | 7,331 | 30,022 | 48,489
At 31 May 2025 | 47,307 | 5,634 | 87,311 | 302,426 | 442,678
Carrying amount
At 31 May 2025 | 29,655 | 1,088 | 21,992 | 180,769 | 233,504
At 31 May 2024 | - | 18,200 | 29,323 | 173,635 | 221,158

S K Corporate Limited

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

5 | Stocks

| 2025 £ | 2024 £
Stock | 223,498 | 223,498

6 | Debtors

| 2025 £ | 2024 £
Trade debtors | 267,948 | 175,248
Other debtors | 262,082 | 307,451
| 530,030 | 482,699

7 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Trade creditors | 112,485 | 54,163
Taxation and social security | 112,162 | 53,606
Accruals and deferred income | 9,000 | 9,000
Other creditors | 664,460 | 584,216
| 898,107 | 700,985

8 | Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position amounts to £203,199 (2024: £179,498).

9 | Transactions with directors

At 31 May 2025 an amount of £75,947 (2024: £110,935) was due to the company from the directors. During the year there were advances of £82,352 and repayments of £120,000. Interest of £2,660 (2024: £2,925) was payable to the company at 2.25% and 3.75% pa. There are no set terms in place.