Kury UK Limited
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Notes to the Accounts |
for the year ended 31 December 2020
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1 |
Accounting policies |
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Basis of preparation |
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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).
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Turnover |
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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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover 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.
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
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Computer equipment |
over 3 years |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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Foreign currency translation |
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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.
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate.
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2 |
Employees |
2020 |
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2019 |
Number |
Number |
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Average number of persons employed by the company |
6 |
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4 |
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3 |
Tangible fixed assets |
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Computer equipment |
£ |
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Cost |
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At 1 January 2020 |
233 |
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Additions |
543 |
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At 31 December 2020 |
776 |
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Depreciation |
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At 1 January 2020 |
78 |
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Charge for the year |
259 |
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At 31 December 2020 |
337 |
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Net book value |
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At 31 December 2020 |
439 |
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At 31 December 2019 |
155 |
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4 |
Debtors |
2020 |
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2019 |
£ |
£ |
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Trade debtors |
162,923 |
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173,337 |
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Other debtors |
6,229 |
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5,200 |
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169,152 |
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178,537 |
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5 |
Creditors: amounts falling due within one year |
2020 |
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2019 |
£ |
£ |
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Trade creditors |
26 |
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28 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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31,581 |
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31,581 |
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Taxation and social security costs |
84,368 |
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68,764 |
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Other creditors |
25,028 |
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7,246 |
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141,003 |
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107,619 |
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6 |
Related party transactions |
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The company is a corporate member of Seimaf Kury Alliance LLP. Included in Other Debtors is a £4,000 loan to the LLP. Profits are recognised on entitlement. During the year, Kury UK Limited made sales of £397,172 to Seimaf Kury Alliance LLP. Included in trade debtors is £129,104 owed from Seimaf Kury Alliance LLP.
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7 |
Controlling party |
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The company is a wholly owned subsidiary of Kury Groupe, a company registered in France, whose registered office is 12, avenue Leon Cambillard, 92140 Clamart, France. Kury Groupe is the ultimate parent company.
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8 |
Other information |
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Kury UK Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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1 Temple Way |
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5th Floor |
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Bristol |
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BS2 0BY |