KYC AVC UK LTD

2022-01-012022-06-302022-06-30false12050874KYC AVC UK 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KYC AVC UK LTD

Registered Number
12050874
(England and Wales)

Unaudited Financial Statements for the Period ended
30 June 2022

KYC AVC UK LTD

Company Information
for the period from 1 January 2022 to 30 June 2022


Directors	BAILLIEU, James Danvers
	SHAW, Ryan Antony


Registered Address	206 Brickfields Business Centre 37 Cremer Street
	London
	E2 8HD


Registered Number	12050874 (England and Wales)

KYC AVC UK LTD

Statement of Financial Position
30 June 2022

	Notes	30 Jun 2022		31 Dec 2021
		£	£	£	£
Fixed assets
Intangible assets	5		1,922,899		1,495,019
Tangible assets	6		32,044		36,615
			1,954,943		1,531,634
Current assets
Debtors	7	257,573		253,582
Cash at bank and on hand		202,837		189,558
		460,410		443,140
Creditors amounts falling due within one year	8	(1,147,995)		(853,264)
Net current assets (liabilities)			(687,585)		(410,124)
Total assets less current liabilities			1,267,358		1,121,510
Creditors amounts falling due after one year			(229,277)		(247,138)
Net assets			1,038,081		874,372
Capital and reserves
Called up share capital			115		115
Share premium			194,853		194,853
Profit and loss account			843,113		679,404
Shareholders' funds			1,038,081		874,372

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 29 September 2022, and are signed on its behalf by:

SHAW, Ryan Antony
Director
Registered Company No. 12050874

KYC AVC UK LTD

Notes to the Financial Statements
for the period ended 30 June 2022

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	Accounting policies

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Computer equipment - 3 years (straight line) Office equipment - 4 years (straight line)

	Intangible assets policy
	Intangible assets are stated at cost or valuation less amortisation. Amortisation is provided on all intangible assets as follows: Other intangible assets - 10 years (straight line)

	Revenue recognition policy
	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.

Revenue recognition policy

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.

	Foreign currency translation and operations policy
	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.

Foreign currency translation and operations policy

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.

	Employee benefits policy
	Contributions to defined contribution plans are expensed in the period to which they relate.

4.	Employee information


		2022		2021
	Average number of employees during the year	10		11

5.	Intangible assets

		Total
		£
	Cost or valuation
	At 01 January 22	1,575,328
	Additions	506,646
	At 30 June 22	2,081,974
	Amortisation and impairment
	At 01 January 22	80,309
	Charge for year	78,766
	At 30 June 22	159,075
	Net book value
	At 30 June 22	1,922,899
	At 31 December 21	1,495,019

6.	Property, plant and equipment

		Total
		£
	Cost or valuation
	At 01 January 22	58,709
	Additions	5,644
	At 30 June 22	64,353
	Depreciation and impairment
	At 01 January 22	22,094
	Charge for year	10,215
	At 30 June 22	32,309
	Net book value
	At 30 June 22	32,044
	At 31 December 21	36,615

7.	Debtors

	2022	2021
	£	£
Trade debtors / trade receivables	29,497	41,295
Other debtors	214,151	186,547
Prepayments and accrued income	13,925	25,740
Total	257,573	253,582


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

8.	Creditors within one year

	2022	2021
	£	£
Trade creditors / trade payables	61,707	63,554
Bank borrowings and overdrafts	118,524	265,572
Taxation and social security	296,760	310,077
Other creditors	621,555	171,966
Accrued liabilities and deferred income	49,449	42,095
Total	1,147,995	853,264


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.