Kozmik Work Space Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 08416714 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

FOR

KOZMIK WORK SPACE LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr Michael Victoros

Mr Constantinos 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

52,081

59,608

CURRENT ASSETS

Debtors

3,125

2,841

Cash at bank

20,156

25,388

23,281

28,229

CREDITORS

Amounts falling due within one year

8,530

7,898

NET CURRENT ASSETS

14,751

20,331

TOTAL ASSETS LESS CURRENT LIABILITIES

66,832

79,939

CREDITORS

Amounts falling due after more than one year

321,813

198,897

NET LIABILITIES

(254,981

)

(118,958

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

(255,081

)

(119,058

)

SHAREHOLDERS' FUNDS

(254,981

)

(118,958

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 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 year ended 30 June 2022 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 29 March 2023 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Fixtures, fittings and equipment - 15% reducing balance

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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2021

69,655

Additions

1,665

At 30 June 2022

71,320

DEPRECIATION

At 1 July 2021

10,047

Charge for year

9,192

At 30 June 2022

19,239

NET BOOK VALUE

At 30 June 2022

52,081

At 30 June 2021

59,608

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2022

2021

£

£

Within one year

23,609

23,609

Between one and five years

42,300

65,909

65,909

89,518

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary

£1

100

100

8.	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 £321,813 (2021 - £198,897)

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Zedcraft Investments Limited.