Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31132021-01-01falseNo description of principal activity13truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08582622 2021-01-01 2021-12-31 08582622 2020-01-01 2020-12-31 08582622 2021-12-31 08582622 2020-12-31 08582622 c:Director1 2021-01-01 2021-12-31 08582622 d:PlantMachinery 2021-01-01 2021-12-31 08582622 d:PlantMachinery 2021-12-31 08582622 d:PlantMachinery 2020-12-31 08582622 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 08582622 d:FurnitureFittings 2021-01-01 2021-12-31 08582622 d:FurnitureFittings 2021-12-31 08582622 d:FurnitureFittings 2020-12-31 08582622 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 08582622 d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 08582622 d:CurrentFinancialInstruments 2021-12-31 08582622 d:CurrentFinancialInstruments 2020-12-31 08582622 d:Non-currentFinancialInstruments 2021-12-31 08582622 d:Non-currentFinancialInstruments 2020-12-31 08582622 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 08582622 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 08582622 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 08582622 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 08582622 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-12-31 08582622 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2020-12-31 08582622 d:ShareCapital 2021-12-31 08582622 d:ShareCapital 2020-12-31 08582622 d:SharePremium 2021-12-31 08582622 d:SharePremium 2020-12-31 08582622 d:RetainedEarningsAccumulatedLosses 2021-12-31 08582622 d:RetainedEarningsAccumulatedLosses 2020-12-31 08582622 c:FRS102 2021-01-01 2021-12-31 08582622 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 08582622 c:FullAccounts 2021-01-01 2021-12-31 08582622 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 08582622 6 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure


Registered number: 08582622












KALLANISH LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


 
REGISTERED NUMBER:08582622
KALLANISH LIMITED

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
219,751
175,568

Investments
 5 
496,779
422,595

  
716,530
598,163

Current assets
  

Debtors: amounts falling due within one year
 6 
24,000
24,336

Cash at bank and in hand
  
604,930
241,608

  
628,930
265,944

Creditors: amounts falling due within one year
 7 
(1,687,676)
(1,351,529)

Net current liabilities
  
 
 
(1,058,746)
 
 
(1,085,585)

Total assets less current liabilities
  
(342,216)
(487,422)

Creditors: amounts falling due after more than one year
 8 
(40,401)
(48,432)

  

Net liabilities
  
(382,617)
(535,854)


Capital and reserves
  

Called up share capital 
  
365,406
365,406

Share premium account
  
449,021
449,021

Profit and loss account
  
(1,197,044)
(1,350,281)

  
(382,617)
(535,854)


Page 1


 
REGISTERED NUMBER:08582622
KALLANISH LIMITED
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021

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 year 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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 statement of income and retained earnings 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: 




................................................
P A Mullins
Director

Date: 15 August 2022

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 

KALLANISH LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Kallanish Limited is a private company limited by shares, registered in England and Wales. Its registered office is 16 Great Queen Street, Covent Garden, London, WC2B 5AH and its registered number is 08582622.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 

KALLANISH LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 

KALLANISH LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Reducing balance
Fixtures and fittings
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 

KALLANISH LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.12

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 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 Statement of Income and Retained Earnings.

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2020 - 13).

Page 6

 

KALLANISH LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 January 2021
344,330
17,787
362,117


Additions
114,060
3,471
117,531



At 31 December 2021

458,390
21,258
479,648



Depreciation


At 1 January 2021
175,234
11,315
186,549


Charge for the year on owned assets
70,863
2,485
73,348



At 31 December 2021

246,097
13,800
259,897



Net book value



At 31 December 2021
212,293
7,458
219,751



At 31 December 2020
169,096
6,472
175,568


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2021
422,595


Additions
74,184



At 31 December 2021
496,779




Page 7

 

KALLANISH LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

6.


Debtors

2021
2020
£
£


Amounts owed by group undertakings
2,500
-

Other debtors
21,500
21,500

Prepayments and accrued income
-
2,836

24,000
24,336



7.


Creditors: Amounts falling due within one year

2021
2020
£
£

Other loans
577,124
669,823

Other taxation and social security
38,245
29,675

Other creditors
1,946
1,659

Accruals and deferred income
1,070,361
650,372

1,687,676
1,351,529


The following liabilities were secured:

2021
2020
£
£



Government loan
8,869
1,568

8,869
1,568

Details of security provided:

The shareholder loan is secured by fixed and floating charges over all the property or undertaking of the company.
The government launched the Bounce Back Loan Scheme in 2020 and has provided the lender with a 100% guarantee.  The loan terms include a 12-month capital repayment holiday.

Page 8

 

KALLANISH LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

8.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Government loan
40,401
48,432

40,401
48,432


The government launched the Bounce Back Loan Scheme in 2020 and has provided the lender with a 100% guarantee.  The loan terms include a 12-month capital repayment holiday.


9.


Loans


Analysis of the maturity of loans is given below:


2021
2020
£
£

Amounts falling due within one year

Other loans
577,124
669,823


577,124
669,823


Amounts falling due 2-5 years

Other loans
40,401
48,432


40,401
48,432


617,525
718,255



10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £10,295 (2020: £4,814). Contributions totalling £1,946 (2020: £1,659) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 9