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KOBRE & KIM BUSINESS ADVISORS (UK) LTD - Company Information

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Registered number: 13299250

KOBRE & KIM BUSINESS ADVISORS (UK) LTD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD FROM 29 MARCH 2021 TO 31 DECEMBER 2021

KOBRE & KIM BUSINESS ADVISORS (UK) LTD

REGISTERED NUMBER: 13299250

BALANCE SHEET

AS AT 31 DECEMBER 2021

		2021
Note		£


Current assets
Debtors: amounts falling due within one year	4	62,909
		62,909
Creditors: amounts falling due within one year	5	(79,394)
Net current (liabilities)/assets			(16,485)
Total assets less current liabilities			(16,485)

Net (liabilities)/assets			(16,485)

Capital and reserves
Called up share capital			100
Profit and loss account			(16,585)
			(16,485)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Michael Kim

Director

Date: 29 September 2022

The notes on pages 2 to 4 form part of these financial statements.

Page 1

KOBRE & KIM BUSINESS ADVISORS (UK) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2021

1.	General information

Kobre & Kim Business Advisors (UK) Ltd is a private company, limited by shares, incorporated in England and Wales, registration number 13299250. The address of the registered office is Tower 42, 25 Old Broad Street, London, EC2N 1HQ.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The financial statements are presented for the period from 29 March 2021 to 31 December 2021.
The financial statements are prepared in sterling, the functional currency, rounded to the nearest £1.

The following principal accounting policies have been applied:

2.2

Going concern

The company has net liabilities of £16,485 at the balance sheet date.
The Directors have indicated their willingness and ability to support the company for at least 12 months from the date of approval of the financial statements. Therefore, the financial statements have been prepared on a going concern basis.

2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.4

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid

Page 2

KOBRE & KIM BUSINESS ADVISORS (UK) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.5

Financial instruments (continued)

or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Employees

The average monthly number of employees, including the directors, during the period was as follows:

			2021
			No.

		Employees	2

Debtors

					2021
					£


	Other debtors	237
	Prepayments and accrued income	62,672
		62,909

Page 3

KOBRE & KIM BUSINESS ADVISORS (UK) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2021

5.	Creditors: Amounts falling due within one year
		2021
		£

	Amounts owed to group undertakings	76,394
	Accruals and deferred income	3,000
		79,394

Page 4