Caseware UK (AP4) 2022.0.179 2022.0.179 2022-10-312022-10-31false22021-11-01No description of principal activity2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01586543 2021-11-01 2022-10-31 01586543 2020-11-01 2021-10-31 01586543 2022-10-31 01586543 2021-10-31 01586543 c:Director1 2021-11-01 2022-10-31 01586543 d:Buildings 2021-11-01 2022-10-31 01586543 d:Buildings 2022-10-31 01586543 d:Buildings 2021-10-31 01586543 d:Buildings d:OwnedOrFreeholdAssets 2021-11-01 2022-10-31 01586543 d:ComputerEquipment 2021-11-01 2022-10-31 01586543 d:OtherPropertyPlantEquipment 2021-11-01 2022-10-31 01586543 d:OtherPropertyPlantEquipment 2022-10-31 01586543 d:OtherPropertyPlantEquipment 2021-10-31 01586543 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2021-11-01 2022-10-31 01586543 d:OwnedOrFreeholdAssets 2021-11-01 2022-10-31 01586543 d:CurrentFinancialInstruments 2022-10-31 01586543 d:CurrentFinancialInstruments 2021-10-31 01586543 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 01586543 d:CurrentFinancialInstruments d:WithinOneYear 2021-10-31 01586543 d:ShareCapital 2022-10-31 01586543 d:ShareCapital 2021-10-31 01586543 d:RevaluationReserve 2022-10-31 01586543 d:RevaluationReserve 2021-10-31 01586543 d:RetainedEarningsAccumulatedLosses 2022-10-31 01586543 d:RetainedEarningsAccumulatedLosses 2021-10-31 01586543 c:FRS102 2021-11-01 2022-10-31 01586543 c:AuditExempt-NoAccountantsReport 2021-11-01 2022-10-31 01586543 c:FullAccounts 2021-11-01 2022-10-31 01586543 c:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31 01586543 d:AcceleratedTaxDepreciationDeferredTax 2022-10-31 01586543 d:AcceleratedTaxDepreciationDeferredTax 2021-10-31 01586543 d:TaxLossesCarry-forwardsDeferredTax 2022-10-31 01586543 d:TaxLossesCarry-forwardsDeferredTax 2021-10-31 01586543 d:OtherDeferredTax 2022-10-31 01586543 d:OtherDeferredTax 2021-10-31 01586543 5 2021-11-01 2022-10-31 iso4217:GBP xbrli:pure
Registered number: 
01586543














KITECASK LIMITED




UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

 
KITECASK LIMITED
REGISTERED NUMBER:01586543

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
75,485
19,579

  
75,485
19,579

Current assets
  

Debtors: amounts falling due within one year
  
22
-

Cash at bank and in hand
 6 
140,125
139,455

  
140,147
139,455

Creditors: amounts falling due within one year
  
(1,475)
(1,353)

Net current assets
  
 
 
138,672
 
 
138,102

Total assets less current liabilities
  
214,157
157,681

Provisions for liabilities
  

Deferred tax
  
(6,155)
-

  
 
 
(6,155)
 
 
-

Net assets
  
208,002
157,681


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
  
55,999
-

Profit and loss account
  
151,903
157,581

  
208,002
157,681


Page 1

 
KITECASK LIMITED
REGISTERED NUMBER:01586543
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2022

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 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 income statement 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: 




S A Berendsen
Director

Date: 16 October 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
KITECASK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

1.


General information

Kitecask Limited is a private limited company limited by shares and incorporated in England and Wales, registration number 01586543. The registered office is Prospect House, Rouen Road, Norwich, NR1 1RE.

2.Accounting policies

 
2.1

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.2

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.

Depreciation is provided on the following basis:

Freehold property
-
0-20% reducing balance
Computer equipment
-
33% reducing balance
Other fixed assets
-
15% 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 the Income statement.

Page 3

 
KITECASK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

2.Accounting policies (continued)

 
2.3

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.4

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.

 
2.5

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.


3.


Employees

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


        2022
        2021
            No.
            No.







Directors
2
2

Page 4

 
KITECASK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

4.


Tangible fixed assets





Freehold property
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 November 2021
31,172
12,525
43,697


Transfers between classes
(12,171)
12,171
-


Revaluations
55,999
-
55,999



At 31 October 2022

75,000
24,696
99,696



Depreciation


At 1 November 2021
12,171
11,947
24,118


Charge for the year on owned assets
-
93
93


Transfers between classes
(12,171)
12,171
-



At 31 October 2022

-
24,211
24,211



Net book value



At 31 October 2022
75,000
485
75,485



At 31 October 2021
19,001
578
19,579


5.


Debtors

2022
2021
£
£


Other debtors
22
-

22
-



6.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
140,125
139,455

140,125
139,455


Page 5

 
KITECASK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

7.


Deferred taxation




2022


£






Charged to profit or loss
(6,155)



At end of year
(6,155)

The deferred taxation balance is made up as follows:

2022
2021
£
£


Accelerated capital allowances
(92)
-

Tax losses carried forward
975
-

Capital gains
(7,038)
-

(6,155)
-

Page 6