Katalysys Ltd - Accounts to registrar (filleted) - small 23.1.2
Katalysys Ltd - Accounts to registrar (filleted) - small 23.1.2
| REGISTERED NUMBER: |
| Katalysys Ltd |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2023 |
| Katalysys Ltd (Registered number: 06595394) |
| Contents of the Financial Statements |
| for the year ended 31 March 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Katalysys Ltd |
| Company Information |
| for the year ended 31 March 2023 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| Chartered Accountants |
| New Derwent House |
| 69-73 Theobalds Road |
| London |
| WC1X 8TA |
| Katalysys Ltd (Registered number: 06595394) |
| Balance Sheet |
| 31 March 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Current assets |
| Debtors | 5 |
| Investments | 6 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 7 |
| Net current assets |
| Total assets less current liabilities |
| Provisions for liabilities |
| Net assets |
| Capital and reserves |
| Called up share capital | 9 |
| Retained earnings |
| Shareholders' funds |
| 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. |
| 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 |
| Katalysys Ltd (Registered number: 06595394) |
| Notes to the Financial Statements |
| for the year ended 31 March 2023 |
| 1. | Statutory information |
| Katalysys Ltd is a |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Going concern |
| The company's financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs in assessing going concern, the directors have a reasonable expectation that the company will continue as a going concern and is able to meet all of its obligations as they fall due for a minimum of 12 months from the date of approval of these financial statements. |
| Turnover |
| Turnover is recognised to the extent that it is probable economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover from a contract to provide services is recognised in the period in which the services are provided. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
| life. |
| Computer Equipment etc - 3 years on a straight line basis |
| 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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. |
| Katalysys Ltd (Registered number: 06595394) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2023 |
| 2. | Accounting policies - continued |
| 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. |
| Investments |
| Investments in equity instruments are measured initially at fair value, which is normally the transaction price. Transaction costs are excluded if the investments are subsequently measured at fair value through profit and loss. Subsequent to initial recognition investments that can be measured reliably are measured at fair value with changes recognised through profit or loss. |
| Financial instruments |
| Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a |
| party to the contractual provisions of the instrument. |
| Trade and other debtors and creditors are classified as basic financial instruments and measured at initial |
| recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
| Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management. |
| Financial liabilities and equity instruments issued by the company are classified in accordance with the |
| substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs |
| Key sources of estimation, uncertainty and judgements |
| Preparation of the financial statements requires management to make significant judgements and estimates in determining the carrying amounts of certain assets and liabilities. Management makes assumptions of the |
| effects of uncertain future events on those assets and liabilities at the balance sheet date. The management's estimates and assumptions are based on historical experience and expectation of future events and are reviewed periodically. This disclosure excludes uncertainty over future events and judgement in respect of measuring financial instruments. |
| There is estimation uncertainty in calculating bad debt provisions. A review of trade debtors is carried out by the directors regularly. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provision do not match the level of debts which ultimately prove to be uncollectable. |
| There is estimate uncertainty in the calculation and assessment of the investment impairment carried out annually by the directors. Whilst any impairment review is based on market conditions, there remains a risk that the impairment proves inaccurate. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| Katalysys Ltd (Registered number: 06595394) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2023 |
| 4. | Tangible fixed assets |
| Computer |
| equipment |
| £ |
| Cost |
| At 1 April 2022 |
| Additions |
| Disposals |
| At 31 March 2023 |
| Depreciation |
| At 1 April 2022 |
| Charge for year |
| Eliminated on disposal |
| At 31 March 2023 |
| Net book value |
| At 31 March 2023 |
| At 31 March 2022 |
| 5. | Debtors: amounts falling due within one year |
| 2023 | 2022 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | Current asset investments |
| 2023 | 2022 |
| £ | £ |
| Listed investments | 916,605 | 883,207 |
| 7. | Creditors: amounts falling due within one year |
| 2023 | 2022 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| 8. | Leasing agreements |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2023 | 2022 |
| £ | £ |
| Within one year |
| Katalysys Ltd (Registered number: 06595394) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2023 |
| 9. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2023 | 2022 |
| value: | £ | £ |
| Ordinary | £1 | - | 1,000 |
| Ordinary | £0.001 | 1,000 | - |
| 1,000 | 1,000 |
| During the year there was a subdivision of shares from 1,000 Ordinary shares at £1 each to 1,000,000 Ordinary shares at £0.001 each. |
| 10. | Pension commitments |
| The company operates a defined contribution pension scheme, The assets of the scheme are held separately from those of the company in independent administered funds. The pension cost charge represents contributions payable by the company to the fund and amount to £164,571 (2022: £161,887). |