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REGISTERED NUMBER: 01983060 (England and Wales)












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: Mr H M Klepper
Mr D G W Hughes





Secretary: Mrs S Klepper





Registered office: Unit 2/2 Ivy Business Centre
Crown Street
Failsworth
Manchester
M35 9BG





Registered number: 01983060 (England and Wales)





Accountants: Warr & Co Limited
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 31,414 17,418
Investments 5 - -
31,414 17,418

Current assets
Stocks 675,199 475,933
Debtors 6 1,865,533 1,362,097
Cash at bank and in hand 68,206 297,937
2,608,938 2,135,967
Creditors
Amounts falling due within one year 7 1,489,469 793,546
Net current assets 1,119,469 1,342,421
Total assets less current liabilities 1,150,883 1,359,839

Provisions for liabilities 9 4,814 2,344
Net assets 1,146,069 1,357,495

Capital and reserves
Called up share capital 67 67
Capital redemption reserve 33 33
Retained earnings 1,145,969 1,357,395
Shareholders' funds 1,146,069 1,357,495

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

Karpelle Limited (Registered number: 01983060)

Balance Sheet - continued
28 February 2023


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

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 12 June 2023 and were signed on its behalf by:





Mr H M Klepper - Director


Karpelle Limited (Registered number: 01983060)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. Statutory information

Karpelle Limited 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.

2. Accounting policies

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 20% on cost

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 18 (2022 - 13 ) .

4. Tangible fixed assets
Computer
equipment
£   
Cost
At 1 March 2022 31,985
Additions 23,221
At 28 February 2023 55,206
Depreciation
At 1 March 2022 14,567
Charge for year 9,225
At 28 February 2023 23,792
Net book value
At 28 February 2023 31,414
At 28 February 2022 17,418

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 4,394
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 1,589,086 1,212,223
Other debtors 276,447 149,874
1,865,533 1,362,097

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 606,497 416,782
Taxation and social security 142,831 253,949
Other creditors 740,141 122,815
1,489,469 793,546

8. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
28.2.23 28.2.22
£    £   
Within one year 20,494 11,700
Between one and five years 23,498 -
43,992 11,700

9. Provisions for liabilities
28.2.23 28.2.22
£    £   
Deferred tax 4,814 2,344

Deferred
tax
£   
Balance at 1 March 2022 2,344
Charge to Income statement during year 2,470
Balance at 28 February 2023 4,814

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.