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KTLYST LIMITED

Registered Number
14789185
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2025

KTLYST LIMITED
Company Information
for the year from 1 June 2024 to 31 May 2025

Director | BHANDERI, T

Registered Address | C/O Sobell Rhodes Llp The Kinetic Centre
| Theobald Street
| Elstree, Borehamwood
| WD6 4PJ

Registered Number | 14789185 (England and Wales)

KTLYST LIMITED
Balance Sheet as at
31 May 2025

| Notes | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |
Intangible assets | 3 |  |  | 398,203 |  |  |  | 189,911
|  |  |  | 398,203 |  |  |  | 189,911
Current assets |  |  |  |  |  |  |  |
Debtors | 4 | 15,567 |  |  |  | 58,654 |  |
Cash at bank and on hand |  | 30,291 |  |  |  | 14,249 |  |
|  | 45,858 |  |  |  | 72,903 |  |
Creditors amounts falling due within one year | 5 | (44,837) |  |  |  | (25,437) |  |
Net current assets (liabilities) |  |  |  | 1,021 |  |  |  | 47,466
Total assets less current liabilities |  |  |  | 399,224 |  |  |  | 237,377
Creditors amounts falling due after one year | 6 |  |  | (354,781) |  |  |  | (194,405)
Net assets |  |  |  | 44,443 |  |  |  | 42,972
Capital and reserves |  |  |  |  |  |  |  |
Called up share capital |  |  |  | 100 |  |  |  | 100
Profit and loss account |  |  |  | 44,343 |  |  |  | 42,872
Shareholders' funds |  |  |  | 44,443 |  |  |  | 42,972

- 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 Director acknowledges 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 Director on 21 February 2026, and are signed on its behalf by:
BHANDERI, T Director Registered Company No. 14789185

KTLYST LIMITED
Notes to the Financial Statements
for the year ended 31 May 2025

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.

| Statement of compliance
--- | ---
| The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

| Basis of preparation
--- | ---
| The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

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

| Going concern
--- | ---
| After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

| Turnover policy
--- | ---
| Turnover represents the company's share of profit from Sobell Rhodes LLP, a Limited Liability Partnership of which it is a member. Revenue is recognised when profits are irrevocably allocated in accordance with the underlying methodology of the LLP deed.

| Current taxation
--- | ---
| Current tax is recognised in profit or loss. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

| Intangible assets
--- | ---
| Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

| Amortisation
--- | ---
| The amortisation on intangible is over 20 years as the director believes Sobell Rhodes LLP will be in existence for a period of atleast 20years if not more and therefore the company will hold its investment in the LLP for atleast 20years.

| Trade and other debtors
--- | ---
| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

| 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.

| Share capital
--- | ---
| Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2. | Average number of employees
--- | ---

|  | 2025 |  | 2024
| Average number of employees during the year | 1 |  | 1

3. | Intangible assets
--- | ---

|  | Other |  | Total
--- | --- | --- | --- | ---
|  | £ |  | £
| Cost or valuation
| At 01 June 24 | 199,906 |  | 199,906
| Additions | 229,776 |  | 229,776
| At 31 May 25 | 429,682 |  | 429,682
| Amortisation and impairment
| At 01 June 24 | 9,995 |  | 9,995
| Charge for year | 21,484 |  | 21,484
| At 31 May 25 | 31,479 |  | 31,479
| Net book value
| At 31 May 25 | 398,203 |  | 398,203
| At 31 May 24 | 189,911 |  | 189,911

4. | Debtors: amounts due within one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Other debtors | 15,567 |  | 58,654
| Total | 15,567 |  | 58,654

5. | Creditors: amounts due within one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade creditors / trade payables | 4,776 |  | -
| Bank borrowings and overdrafts | 18,381 |  | -
| Taxation and social security | 21,130 |  | 24,849
| Other creditors | 550 |  | 588
| Total | 44,837 |  | 25,437

6. | Creditors: amounts due after one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Bank borrowings and overdrafts | 354,781 |  | 194,405
| Total | 354,781 |  | 194,405