REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 25 MAY 2022 TO 31 MARCH 2023 |
FOR |
KUDOS BROKERS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 25 MAY 2022 TO 31 MARCH 2023 |
FOR |
KUDOS BROKERS LIMITED |
KUDOS BROKERS LIMITED (REGISTERED NUMBER: 14130933) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 25 MAY 2022 TO 31 MARCH 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
KUDOS BROKERS LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 25 MAY 2022 TO 31 MARCH 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
4th Floor Tuition House |
27-37 St George's Road |
Wimbledon |
London |
SW19 4EU |
KUDOS BROKERS LIMITED (REGISTERED NUMBER: 14130933) |
BALANCE SHEET |
31 MARCH 2023 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 | ( |
) |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
KUDOS BROKERS LIMITED (REGISTERED NUMBER: 14130933) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 25 MAY 2022 TO 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
Kudos Brokers Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue is measured at fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. |
Revenue from the sale of goods is recognised when goods are delivered and legal title has passed. |
Goodwill |
Negative goodwill represents the difference between fair value of net assets on acquisition less the consideration received for the assets. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which the director believes to be 3 years. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
KUDOS BROKERS LIMITED (REGISTERED NUMBER: 14130933) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 25 MAY 2022 TO 31 MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
Additions | ( |
) |
At 31 March 2023 | ( |
) |
AMORTISATION |
Charge for period | ( |
) |
At 31 March 2023 | ( |
) |
NET BOOK VALUE |
At 31 March 2023 | ( |
) |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
At the balance sheet date the business owed the director £5,000. The balance is unsecured, non interest bearing and has no repayment terms. |
8. | ULTIMATE CONTROLLING PARTY |
The company is a 100% subsidiary of Ione Holdings Limited, a company that is controlled by the director. |