REGISTERED NUMBER: |
Karpelle Limited |
Unaudited Financial Statements |
for the Year Ended 28 February 2023 |
REGISTERED NUMBER: |
Karpelle Limited |
Unaudited Financial Statements |
for the Year Ended 28 February 2023 |
Karpelle Limited (Registered number: 01983060) |
Contents of the Financial Statements |
for the Year Ended 28 February 2023 |
Page |
Company information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 4 |
Karpelle Limited |
Company Information |
for the Year Ended 28 February 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountants |
Mynshull House |
78 Churchgate |
Stockport |
Cheshire |
SK1 1YJ |
Karpelle Limited (Registered number: 01983060) |
Balance Sheet |
28 February 2023 |
28.2.23 | 28.2.22 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investments | 5 |
Current assets |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
Provisions for liabilities | 9 |
Net assets |
Capital and reserves |
Called up share capital |
Capital redemption reserve |
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. |
Karpelle Limited (Registered number: 01983060) |
Balance Sheet - continued |
28 February 2023 |
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 |
Karpelle Limited (Registered number: 01983060) |
Notes to the Financial Statements |
for the Year Ended 28 February 2023 |
1. | Statutory information |
Karpelle Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Despite this being a challenging year due to Covid-19 the company still has the support of the director. In the director's opinion the business is not affected and continues to be a going concern. |
Preparation of consolidated financial statements |
The financial statements contain information about Karpelle Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Tangible fixed assets |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
Karpelle Limited (Registered number: 01983060) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
2. | Accounting policies - continued |
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. |
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. |
Revenue recognition |
The turnover shown in the profit and loss account comprises the invoiced value of goods supplied during the year, exclusive of Value Added Tax. All turnover is within the United Kingdom. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Computer |
equipment |
£ |
Cost |
At 1 March 2022 |
Additions |
At 28 February 2023 |
Depreciation |
At 1 March 2022 |
Charge for year |
At 28 February 2023 |
Net book value |
At 28 February 2023 |
At 28 February 2022 |
Karpelle Limited (Registered number: 01983060) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
5. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 March 2022 |
and 28 February 2023 |
Provisions |
At 1 March 2022 |
and 28 February 2023 | 4,394 |
Net book value |
At 28 February 2023 |
At 28 February 2022 |
The above investments are unlisted. |
The company owned 85% of the issued ordinary share capital of Karpelle International SRL, a company registered in Romania. The company manufactures garment samples and operates on a non-profit making basis. This company was dissolved in 2022. |
The company also owns 100% of Karpelle Dooel Skopje, a company registered in Macedonia. The company manufactures garment samples and operates on a non-profit making basis. |
Due to the consequences of COVID-19 the value of the shares in the subsidiary have been written down to £nil. |
In accordance with section 405(2) of the Companies Act 2006 the director has not prepared group accounts as these subsidiaries are not material for the purpose of giving a true and fair view. Therefore the accounts show information about the company as an individual entity. |
6. | Debtors: amounts falling due within one year |
28.2.23 | 28.2.22 |
£ | £ |
Trade debtors |
Other debtors |
Karpelle Limited (Registered number: 01983060) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
7. | Creditors: amounts falling due within one year |
28.2.23 | 28.2.22 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | Leasing agreements |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
28.2.23 | 28.2.22 |
£ | £ |
Within one year |
Between one and five years |
9. | Provisions for liabilities |
28.2.23 | 28.2.22 |
£ | £ |
Deferred tax | 4,814 | 2,344 |
Deferred |
tax |
£ |
Balance at 1 March 2022 |
Charge to Income statement during year |
Balance at 28 February 2023 |
10. | Directors' advances, credits and guarantees |
The company pays interest to the director on his current account at a commercial rate. The amount payable for the year was £2,207 (2022 £1,599) and the amount unpaid at the year end was £2,003 (2022 £2,428). |
The amount outstanding on their current accounts is included in creditors. |