Kozmik Work Space Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08416714 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MARCH 2019 TO 30 JUNE 2020

FOR

KOZMIK WORK SPACE LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr Michael Victoros

Mrs Dora Andrea Victoros

REGISTERED OFFICE:

c/o Michael Filiou Ltd

Salisbury House

81 High Street

Potters Bar

Hertfordshire

EN6 5AS

REGISTERED NUMBER:

08416714 (England and Wales)

ACCOUNTANTS:

Michael Filiou Ltd

Chartered Certified Accountants

www.michaelfiliou.com

Salisbury House

81 High Street

Potters Bar

Hertfordshire

EN6 5AS

FIXED ASSETS

Tangible assets

5

43,232

-

CURRENT ASSETS

Debtors

40,544

-

Cash at bank

22,265

72

62,809

72

CREDITORS

Amounts falling due within one year

8,660

6,171

NET CURRENT ASSETS/(LIABILITIES)

54,149

(6,099

)

TOTAL ASSETS LESS CURRENT LIABILITIES

97,381

(6,099

)

CREDITORS

Amounts falling due after more than one year

121,505

-

NET LIABILITIES

(24,124

)

(6,099

)

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

(24,224

)

(6,199

)

SHAREHOLDERS' FUNDS

(24,124

)

(6,099

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2020 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.

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 30 June 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 11 March 2021 and were signed on its behalf by:

Mr Michael Victoros - Director

1.	STATUTORY INFORMATION

Kozmik Work Space Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Going concern

The accounts have been prepared on a going concern basis.

The directors are aware however of material uncertainties that cast doubt on the company's ability to continue as a going concern. As with most businesses, these material uncertainties are in relation to the ongoing Covid-19 virus outbreak which has had an impact on the operations, customers, suppliers and staff. The directors have (where appropriate) utilised the grants and benefits available from the government and are taking all the steps they can to protect the future of the business.

Related party exemption

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.

Tangible fixed assets

Depreciation will be provided in order to write off each asset over its estimated useful life when it becomes available for use.

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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2019 - NIL ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

Additions

43,232

At 30 June 2020

43,232

NET BOOK VALUE

At 30 June 2020

43,232

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary

£1

100

100

7.	RELATED PARTY DISCLOSURES

Elthorne Properties Limited

Elthorne Properties Limited is a fellow group subsidiary company. At the balance sheet date, Kozmik Work Space Ltd owed Elthorne Properties Limited £121,505.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs Salome Victoros.

Up to 18 October 2019, both the directors, Mr Michael Victoros and his wife Mrs Dora Victoros, controlled Kozmik Work Space Ltd by virtue of each holding 50% of the issued share capital of the company.

On 18 October 2019, Zedcraft Investments Limited became the parent company when it purchased all 100% of the issued share capital of Kozmik Work Space Ltd for their nominal value of £1 per share.

Mrs Salome Victoros is regarded by the directors as being the ultimate controlling party as she holds 100% of the issued voting share capital of Zedcraft Investments Limited.