KULIPA LIMITED

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 15457222

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		11,890		5,723

			11,890		5,723
CURRENT ASSETS
Debtors	5	2,563,972		1,047,166
Cash at bank and in hand		66,202		44,588

		2,630,174		1,091,754
Creditors: Amounts Falling Due Within One Year	6	(2,842,483 )		(1,217,968 )

NET CURRENT ASSETS (LIABILITIES)			(212,309 )		(126,214 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(200,419 )		(120,491 )

NET LIABILITIES			(200,419 )		(120,491 )

CAPITAL AND RESERVES
Called up share capital	7		1,000		1,000
Profit and Loss Account			(201,419 )		(121,491 )

SHAREHOLDERS' FUNDS			(200,419)		(120,491)

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KULIPA LIMITED

Balance Sheet (continued)

As At 31 December 2025

For the year ending 31 December 2025 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Michael Shynar

Director

25/09/2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

KULIPA LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 15457222 . The registered office is C/O Fieldfisher Riverbank House, 2 Swan Lane, London, EC4R 3TT.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The financial statements have been prepared on a going concern basis. The directors believe the company will be able to continue to operate and meet its obligation as they fall due for the

foreseeable future. The director has reviewed the company's business activities, together with factors likely to affect the company's future development, performance and cash flow position.

The companies within the group form an operating model that ensure revenue and profits are economically allocated to the company which has earned them. The directors have considered,

that as part of a larger group of companies, the company has the ability to obtain financial support from the group where necessary and take action to ensure the continuity of the

business.

On the basis of the directors' assessment of the company's financial position and group support, the directors consider that the company is well placed to manage its business risks

successfully and has a reasonable expectation that the company will continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going

concern basis in preparing these financial statements.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	25% reducing balance
Computer Equipment	25% reducing balance

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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KULIPA LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2024: 4)

4. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2025	184	7,447	7,631
Additions	-	6,167	6,167

As at 31 December 2025	184	13,614	13,798

Depreciation
As at 1 January 2025	46	1,862	1,908

As at 31 December 2025	46	1,862	1,908

Net Book Value
As at 31 December 2025	138	11,752	11,890

As at 1 January 2025	138	5,585	5,723

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	-	1
Amounts owed by group undertakings	2,547,539	1,034,230
Other debtors	16,433	12,935

	2,563,972	1,047,166

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KULIPA LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Amounts owed to group undertakings	2,767,791	1,189,094
Other creditors	1,600	1,600
Taxation and social security	73,092	27,274

	2,842,483	1,217,968

7. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1,000	1,000

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