Kingsway Group Global Limited - Accounts to registrar (filleted) - small 18.2

Kingsway Group Global Limited - Accounts to registrar (filleted) - small 18.2

KINGSWAY GROUP GLOBAL LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v20.3.0.228 11183199 Board of Directors 1.1.19 31.12.19 31.12.19 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure111831992018-12-31111831992019-12-31111831992019-01-012019-12-31111831992018-02-01111831992018-02-022018-12-31111831992018-12-3111183199ns16:EnglandWales2019-01-012019-12-3111183199ns15:PoundSterling2019-01-012019-12-3111183199ns11:Director12019-01-012019-12-3111183199ns11:PrivateLimitedCompanyLtd2019-01-012019-12-3111183199ns11:SmallEntities2019-01-012019-12-3111183199ns11:AuditExempt-NoAccountantsReport2019-01-012019-12-3111183199ns11:SmallCompaniesRegimeForDirectorsReport2019-01-012019-12-3111183199ns11:SmallCompaniesRegimeForAccounts2019-01-012019-12-3111183199ns11:FullAccounts2019-01-012019-12-3111183199ns11:Director22019-01-012019-12-3111183199ns11:RegisteredOffice2019-01-012019-12-3111183199ns6:ShareCapital2019-12-3111183199ns6:ShareCapital2018-12-3111183199ns6:CostValuation2018-12-3111183199ns6:CurrentFinancialInstruments2019-12-3111183199ns6:CurrentFinancialInstruments2018-12-31
REGISTERED NUMBER: 11183199 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

KINGSWAY GROUP GLOBAL LIMITED
KINGSWAY GROUP GLOBAL LIMITED (REGISTERED NUMBER: 11183199)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KINGSWAY GROUP GLOBAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2019







DIRECTORS: JJ Hall
BM Hall





REGISTERED OFFICE: Teardrop Centre
London Road
Swanley
Kent
BR8 8TS





REGISTERED NUMBER: 11183199 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
4 Mount Ephraim Road
Tunbridge Wells
Kent
TN1 1EE
Page 1
KINGSWAY GROUP GLOBAL LIMITED (REGISTERED NUMBER: 11183199)

BALANCE SHEET
31 DECEMBER 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Investments 4 250 250

CURRENT ASSETS
Debtors 5 150 150
NET CURRENT ASSETS 150 150
TOTAL ASSETS LESS CURRENT
LIABILITIES
400
400

CAPITAL AND RESERVES
Called up share capital 6 400 400
SHAREHOLDERS' FUNDS 400 400

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 November 2020 and were signed on its behalf by:





JJ Hall - Director


The notes form part of these financial statements

Page 2
KINGSWAY GROUP GLOBAL LIMITED (REGISTERED NUMBER: 11183199)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019


1. STATUTORY INFORMATION

Kingsway Group Global Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Going concern
Accounting standards require the directors to consider the appropriateness of the going concern basis when preparing the financial statements. The directors confirm that they consider that the going concern basis remains appropriate. The directors believe that the company has sufficient resources to continue in operational existence for the foreseeable future. The directors believe this to be the case as the company has positive reserves and no significant long term liabilities.

In their assessment of going concern the directors have considered the current and developing impact on the company as a result of the COVID19 virus. This has not had a significant, immediate impact on the company's operations but the directors are aware that if the current situation becomes prolonged then this may change.

Having regard to the above, the directors believe it is appropriate to adopt the going concern basis of accounting in preparing the financial statements.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year 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 year 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.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Page 3 continued...
KINGSWAY GROUP GLOBAL LIMITED (REGISTERED NUMBER: 11183199)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2019


2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with no significant risk of change in value.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Creditors
Short term creditors are measured at the transaction price.

Financial reporting standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
- the requirements of Section 7 Statement of Cash Flows;
- the requirements of Section 3 Financial Statement Presentation paragraph 3.17 (d);
- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A;
- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29;
- the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 1 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 January 2019
and 31 December 2019 250
NET BOOK VALUE
At 31 December 2019 250
At 31 December 2018 250

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Amounts owed by group undertakings 150 150

Page 4 continued...
KINGSWAY GROUP GLOBAL LIMITED (REGISTERED NUMBER: 11183199)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2019


6. CALLED UP SHARE CAPITAL

Alloted, issued and fully
paid:

2019

2018
Number: Class: Nominal Value: £ £
20 Ordinary A £1 - 20
20 Ordinary B £1 - 20
90 Ordinary C £1 - 90
90 Ordinary D £1 - 90
90 Ordinary E £1 - 90
90 Ordinary F £1 - 90
2,931 Ordinary A £0.01 29 -
2,931 Ordinary B £0.01 29 -
9,000 Ordinary C £0.01 90 -
8,069 Ordinary D £0.01 81 -
9,000 Ordinary E £0.01 90 -
8,069 Ordinary F £0.01 81 -
400 400

On 30 December 2019, the company sub-divided all £1 shares into £0.01 shares and also reclassified 931 Ordinary D shares to Ordinary A shares and 931 Ordinary F shares to Ordinary B shares. This resulted in 2,931 Ordinary A , 2,931 Ordinary B, 9,000 Ordinary C, 8,069 Ordinary D, 9,000 Ordinary E and 8,069 Ordinary F shares.

7. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

8. ULTIMATE CONTROLLING PARTY

The directors consider there to be no ultimate controlling party.

Page 5