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Registered number: 11252421
KATLIST LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 AUGUST 2025
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KATLIST LIMITED
REGISTERED NUMBER: 11252421
BALANCE SHEET
AS AT 31 AUGUST 2025
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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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Provisions for liabilities
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KATLIST LIMITED
REGISTERED NUMBER: 11252421
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2025
The director considers 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 director acknowledges his 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 have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 10 form part of these financial statements.
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KATLIST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
Katlist Limited (the "Company") is a private company limited by share capital, incorporated under the UK Companies Act 2006 and is domiciled in England. The Company's registered office is located at 85a Great Portland Street, London, W1W 7LT.
2.Accounting policies
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Summary of significant accounting policies
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The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all reporting periods presented, unless otherwise stated.
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Basis of preparation of financial statements
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The financial statements of the Company have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of 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 conformity with Financial Reporting Standard 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Company's accounting policies.
Details of those estimates and/or judgments made in applying the Company's accounting policies towards the preparation of these financial statements that may be considered as yielding a significant risk of a material adjustment being made to the carrying amounts of assets and/or liabilities reported in the balance sheet during the next financial reporting period are disclosed in note 3 to the financial statements.
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Functional and presentational currency
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Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (the "functional currency").
The functional currency of the Company, and the currency in which the financial statements are presented (the "presentational currency"), is 'Pounds Sterling' (£) rounded to the nearest single unit of currency.
At the balance sheet date, the Company held net liabilities of £208,214 after recognising net deferred income of £560,694.
In assessing whether the going concern basis remains appropriate for the preparation of the financial statements, the director has reviewed the Company’s principal and emerging risks, existing loan facilities, access to funding and liquidity position and the Company's performance up to the date these financial statements were approved and expected performance over the 18 months following the balance sheet date.
Based on his assessment, the director at the time of approving the financial statements has a reasonable expectation that the Company has, available at its disposal, adequate resources to continue in operational existence for the foreseeable future.
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KATLIST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
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Going concern (continued)
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While there will always remain inherent uncertainty, the director has no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the Company to continue as a going concern and therefore considers it both appropriate to continue to adopt the going concern basis in preparing the Company's financial statements and to not recognise any adjustments in the financial statements that would arise if the going concern basis were to become no longer appropriate.
Turnover comprises of revenues receivable by the Company exclusive of value added tax during the financial reporting period in respect of the provision of brand marketing and other promotional services.
The Company operates a defined contribution pension scheme on behalf of its employees.
Under a defined contribution pension scheme the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
Contributions are recognised as an expense in profit or loss for the reporting period during which they fall due. Amounts falling due but not paid are shown as part of other creditors in the balance sheet. The assets of the schemes are held separately from the Company in independently administered funds
Operating leases, net of benefits receivable as an incentive, are charged to profit or loss on a straight line basis over the lease term.
Taxation comprises of current (i.e. corporation) and deferred tax and is recognised in profit or loss.
Current taxation is calculated using tax rates and on the basis of tax laws enacted or substantively enacted at the balance sheet date in the UK where taxable income is solely generated by the Company through business operations. Positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation are periodically evaluated with provisions recognised, where appropriate, on the basis of amounts expected to be payable to the respective tax authorities.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their respective carrying amounts in the financial statements. Deferred tax is calculated using tax rates and on the basis of tax laws enacted or substantively enacted at the balance sheet date and are expected to apply when the related deferred tax asset/liability is realised/settled.
Deferred tax assets are recognised only to the extent that it is sufficiently probable that future taxable profits will be available against which the temporary differences can be utilised.
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KATLIST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
Tangible fixed assets are recognised under the cost model and stated at historical cost less accumulated depreciation. 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 upon acquisition.
Depreciation is provided on the following basis:
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Leasehold property improvements
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Straight-line over the lease term
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Straight line over 3 years
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Straight line over 3 years
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Straight line over 3 years
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Depreciation of a tangible fixed asset commences once the asset is available for use. The residual value and depreciation basis of tangible fixed assets are reviewed, and adjusted prospectively where deemed appropriate, if there is an indication of a significant change since the last balance sheet date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss for the reporting period.
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and depreciated over the shorter of the lease term and their useful lives.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities; with said financial assets and liabilities classified in accordance with the substance of the underlying contractual obligations rather than its legal form.
Financial assets and liabilities are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument.
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or the financial asset is transferred along with substantially all the risks and rewards of ownership of the asset to another party. Financial liabilities are derecognised only when the Company’s obligations are discharged, cancelled or expired.
The measurement of specific financial assets, financial liabilities and equity held by the Company is as outlined below:
Debtors, excluding deferred taxation (see note 2.8), are initially measured at transaction price (i.e fair value) and subsequently held, at transaction price less provision for impairment of assets.
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KATLIST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
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Cash and cash equivalents
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Cash balances are reported by the Company as being financial instruments classified as short term receivables and are represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours, subject to an insignificant risk of changes in value and held at floating interest rates linked to UK bank rates.
Creditors, excluding bank loans and obligations under finance leases, are initially measured and subsequently held at transaction price (i.e fair value).
Bank loans are initially measured at fair value, net of transaction costs, and subsequently measured at amortised cost using the effective interest method with the interest expense recognised on an effective yield basis.
Obligations under finance leases are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding.
Ordinary share capital, shown in equity, is initially measured and subsequently held at its nominal value. Where the transaction price for issued shares exceeds their nominal value, the difference is shown under equity in a share premium account with any directly attributable transaction costs associated with the issuing of said shares deducted from the share premium account.
Dividends are recognised in the reporting period in which they become legally payable upon approval by the Company's director.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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In the application of the Company's accounting policies, the director is required to apply judgment and make estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other available sources based on historical experience and other factors that are considered to be relevant. Consequently, actual results may differ from that originally estimated.
In the opinion of the director, the following judgments, estimates and/or assumptions made in applying the principal accounting policies, outlined in note 2 of these financial statements, towards the preparation of these financial statements may be considered as having a significant risk of causing a material adjustment to the carrying amount of assets and/or liabilities carried forward as at the balance sheet date where by which the actual future outcome observed may differ from that originally determined and reported.
Impairment of trade and other receivables
When assessing the recoverable value of trade and other receivables, the director considers factors including the credit rating of the receivable, ageing profile, historical experience and, in the case of connected parties, forecasted financial performance and expected cash flows.
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KATLIST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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The average monthly number of employees, including directors, during the year was 23 (2024 - 25).
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Short-term leasehold property
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Charge for the year on owned assets
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The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
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KATLIST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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Prepayments and accrued income
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Trade and other debtors falling due within one year are non-interest bearing and, in the opinion of the director, of a fair value not materially different from their carrying value.
At the balance sheet date, the provision for impairment against debtors falling due within one year was £nil (2024: £nil).
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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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Obligations under finance lease and hire purchase contracts
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Accruals and deferred income
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KATLIST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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Creditors: Amounts falling due after more than one year
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Net obligations under finance leases and hire purchase contracts
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The Company held no financial instruments that would require specific disclosure under sections 1.12, 11 or 12 of Financial Reporting Standard 102 and paragraph 36 of Schedule 1 to the Companies Act 2006.
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Hire purchase and finance leases
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Minimum lease payments under hire purchase fall due as follows:
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Obligations under finance lease and hire purchase contracts (see note 8 and 9) are secured against the underlying assets the respective contracts are for.
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Credited/(charged) to profit or loss
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KATLIST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
12.Deferred taxation (continued)
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The net deferred taxation asset/(liability) carried forward is made up as follows:
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Accelerated capital allowances
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Tax losses carried forward
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Other short term timing differences
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In the opinion of the director, deferred taxation liabilities expected to reverse in the following reporting period are not considered to be material to the financial statements.
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Employee and employer contributions totalling £6,211 (2024: £8,313) were payable to the fund at the balance sheet date and are included in creditors falling due within one year.
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Related party transactions
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During the year, the Company received management charges from companies under common control totalling £182,314 (2024: £nil).
At the balance sheet date, the Company was owed £58,389 (2024: £36,974) to companies under common control. Amounts owed are unsecured, interest-free and repayable on demand with no fixed date for repayment.
At the balance sheet date, the Company owed £9,779 (2024: £(86,530)) to its sole director. Amounts owed by the Company to the director are unsecured, non-interest bearing and repayable on demand with no fixed date for repayment. Where the loan account may be classed as a benefit-in-kind in accordance with HM Revenue, the loan account incurs interest charged by the Company to the sole director at the official rate of interest in the UK per annum.
There were no further related party transactions and/or period end balances to report in accordance with the Companies Act 2006 and Section 1A of Financial Reporting Standard 102 as part of these financial statements.
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