Caseware UK (AP4) 2022.0.179 2022.0.179 2022-10-312022-10-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.21true2021-11-01falseNo description of principal activity16true 03781990 2021-11-01 2022-10-31 03781990 2020-11-01 2021-10-31 03781990 2022-10-31 03781990 2021-10-31 03781990 2020-11-01 03781990 c:CompanySecretary1 2021-11-01 2022-10-31 03781990 c:Director1 2021-11-01 2022-10-31 03781990 c:RegisteredOffice 2021-11-01 2022-10-31 03781990 d:Buildings d:ShortLeaseholdAssets 2021-11-01 2022-10-31 03781990 d:Buildings d:ShortLeaseholdAssets 2022-10-31 03781990 d:Buildings d:ShortLeaseholdAssets 2021-10-31 03781990 d:LandBuildings 2022-10-31 03781990 d:LandBuildings 2021-10-31 03781990 d:MotorVehicles 2021-11-01 2022-10-31 03781990 d:MotorVehicles 2022-10-31 03781990 d:MotorVehicles 2021-10-31 03781990 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-11-01 2022-10-31 03781990 d:FurnitureFittings 2021-11-01 2022-10-31 03781990 d:FurnitureFittings 2022-10-31 03781990 d:FurnitureFittings 2021-10-31 03781990 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-11-01 2022-10-31 03781990 d:ComputerEquipment 2021-11-01 2022-10-31 03781990 d:ComputerEquipment 2022-10-31 03781990 d:ComputerEquipment 2021-10-31 03781990 d:ComputerEquipment d:OwnedOrFreeholdAssets 2021-11-01 2022-10-31 03781990 d:OwnedOrFreeholdAssets 2021-11-01 2022-10-31 03781990 d:ComputerSoftware 2022-10-31 03781990 d:ComputerSoftware 2021-10-31 03781990 d:CurrentFinancialInstruments 2022-10-31 03781990 d:CurrentFinancialInstruments 2021-10-31 03781990 d:Non-currentFinancialInstruments 2022-10-31 03781990 d:Non-currentFinancialInstruments 2021-10-31 03781990 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 03781990 d:CurrentFinancialInstruments d:WithinOneYear 2021-10-31 03781990 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 03781990 d:Non-currentFinancialInstruments d:AfterOneYear 2021-10-31 03781990 d:ShareCapital 2022-10-31 03781990 d:ShareCapital 2021-10-31 03781990 d:RetainedEarningsAccumulatedLosses 2022-10-31 03781990 d:RetainedEarningsAccumulatedLosses 2021-10-31 03781990 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2021-11-01 2022-10-31 03781990 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-10-31 03781990 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2021-10-31 03781990 c:OrdinaryShareClass1 2021-11-01 2022-10-31 03781990 c:OrdinaryShareClass1 2022-10-31 03781990 c:OrdinaryShareClass1 2021-10-31 03781990 c:FRS102 2021-11-01 2022-10-31 03781990 c:AuditExempt-NoAccountantsReport 2021-11-01 2022-10-31 03781990 c:FullAccounts 2021-11-01 2022-10-31 03781990 c:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31 03781990 d:WithinOneYear 2022-10-31 03781990 d:WithinOneYear 2021-10-31 03781990 d:BetweenOneFiveYears 2022-10-31 03781990 d:BetweenOneFiveYears 2021-10-31 03781990 d:MoreThanFiveYears 2022-10-31 03781990 d:MoreThanFiveYears 2021-10-31 03781990 d:HirePurchaseContracts d:WithinOneYear 2022-10-31 03781990 d:HirePurchaseContracts d:WithinOneYear 2021-10-31 03781990 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-10-31 03781990 d:HirePurchaseContracts d:BetweenOneFiveYears 2021-10-31 03781990 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2021-11-01 2022-10-31 03781990 1 2021-11-01 2022-10-31 03781990 2 2021-11-01 2022-10-31 03781990 6 2021-11-01 2022-10-31 03781990 d:AcceleratedTaxDepreciationDeferredTax 2022-10-31 03781990 d:AcceleratedTaxDepreciationDeferredTax 2021-10-31 03781990 d:ComputerSoftware d:OwnedIntangibleAssets 2021-11-01 2022-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03781990









K2 GLOBAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2022

 
K2 GLOBAL LIMITED
 
 
COMPANY INFORMATION


Director
N S Blackledge 




Company secretary
M Maidment



Registered number
03781990



Registered office
18a/20 King Street

Maidenhead

Berkshire

United Kingdom

SL6 1EF




Trading Address
Unit A
Boyn Valley Industrial Estate

Boyn Valley Road

Maidenhead

Berkshire

SL6 4EJ






Accountants
Donald Reid Limited
Chartered Accountants

Prince Albert House

18a/20 King Street

Maidenhead

Berkshire

SL6 1EF





 
K2 GLOBAL LIMITED
 

CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 14


 
K2 GLOBAL LIMITED
REGISTERED NUMBER: 03781990

BALANCE SHEET
AS AT 31 OCTOBER 2022

2022
2021
Note
£
£

Fixed assets
  

Intangible assets
 4 
74,983
-

Tangible assets
 5 
164,792
85,022

Investments
 6 
102,000
102,000

  
341,775
187,022

Current assets
  

Stocks
  
447,414
327,645

Debtors: amounts falling due after more than one year
 7 
70,850
-

Debtors: amounts falling due within one year
 7 
2,748,041
560,797

Cash at bank and in hand
 8 
1,302,491
3,469,063

  
4,568,796
4,357,505

Creditors: amounts falling due within one year
 9 
(2,297,695)
(1,811,035)

Net current assets
  
 
 
2,271,101
 
 
2,546,470

Total assets less current liabilities
  
2,612,876
2,733,492

Creditors: amounts falling due after more than one year
 10 
(69,390)
-

Provisions for liabilities
  

Deferred tax
 12 
-
(16,028)

Other provisions
 13 
(48,000)
(50,000)

  
 
 
(48,000)
 
 
(66,028)

Net assets
  
2,495,486
2,667,464


Capital and reserves
  

Called up share capital 
 14 
2
2

Profit and loss account
  
2,495,484
2,667,462

  
2,495,486
2,667,464


The director considers 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

Page 1

 
K2 GLOBAL LIMITED
REGISTERED NUMBER: 03781990
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2022

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 on 23 October 2023.




N S Blackledge
Director

Page 2

 
K2 GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

1.


General information

K2 Global Limited is a private company limited by shares. The company was incorporated in the United Kingdom and is registered in England and Wales.The company's registration number is 03781990. The registered office is Prince Albert House, 20 King Street, Maidenhead, Berkshire, SL6 1DT.

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

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

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

 
K2 GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

2.Accounting policies (continued)

 
2.4

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Sale and leaseback

Where a sale and leaseback transaction results in a finance lease, no gain is immediately recognised for any excess of sales proceeds over the carrying amount of the asset. Instead, the proceeds are presented as a liability and subsequently measured at amortised cost using the effective interest method.
When a sale and leaseback transaction results in an operating lease, and it is clear that the transition is established at fair value any profit or loss is recognised immediately. If the sale price is below fair value, any profit or loss is recognised immediately unless the loss is compensated for by the future lease payments at below market price. In that case any such loss is amortised in proportion to the lease payments over the period for which the asset is expected to be used. If the sale price is above fair value, the excess over fair value is amortised over the period for which the asset is expected to be used.

 
2.7

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Page 4

 
K2 GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

2.Accounting policies (continued)

 
2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.9

Borrowing costs

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

 
2.10

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.

 
2.11

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 balance sheet 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 balance sheet 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 balance sheet date.

Page 5

 
K2 GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

2.Accounting policies (continued)

 
2.12

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.13

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 charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance methods.

Depreciation is provided on the following basis:

S/Term Leasehold Property
-
Over the term of the lease
Motor vehicles
-
25% reducing balance
Fixtures & fittings
-
10% reducing balance; 33.33% straight line; 20% straight line
Computer equipment
-
33% straight line

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.

 
2.14

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.15

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 6

 
K2 GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

2.Accounting policies (continued)

 
2.16

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.

 
2.17

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.

 
2.18

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.

 
2.19

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 balance sheet 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 Balance sheet.

 
2.20

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.

Page 7

 
K2 GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

2.Accounting policies (continued)


2.20
Financial instruments (continued)

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.

 
2.21

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

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


        2022
        2021
            No.
            No.







Employees
21
16

Page 8

 
K2 GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

4.


Intangible assets




Computer software

£



Cost


Additions
82,250



At 31 October 2022

82,250



Amortisation


Charge for the year on owned assets
7,267



At 31 October 2022

7,267



Net book value



At 31 October 2022
74,983



At 31 October 2021
-



Page 9

 
K2 GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

5.


Tangible fixed assets





S/Term Leasehold Property
Motor vehicles
Fixtures & fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 November 2021
93,502
167,298
45,557
44,997
351,354


Additions
94,703
-
9,218
-
103,921



At 31 October 2022

188,205
167,298
54,775
44,997
455,275



Depreciation


At 1 November 2021
90,059
87,512
44,676
44,085
266,332


Charge for the year on owned assets
3,799
19,221
557
574
24,151



At 31 October 2022

93,858
106,733
45,233
44,659
290,483



Net book value



At 31 October 2022
94,347
60,565
9,542
338
164,792



At 31 October 2021
3,443
79,786
881
912
85,022




The net book value of land and buildings may be further analysed as follows:


2022
2021
£
£

Short leasehold
94,347
3,443

94,347
3,443


Page 10

 
K2 GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

6.


Fixed asset investments





Investments in subsidiary companies
Other fixed asset investments
Total

£
£
£



Cost or valuation


At 1 November 2021
100,000
2,000
102,000



At 31 October 2022
100,000
2,000
102,000





7.


Debtors

2022
2021
£
£

Due after more than one year

Other debtors
70,850
-

70,850
-


2022
2021
£
£

Due within one year

Trade debtors
1,012,752
444,632

Other debtors
1,282,329
98,858

Prepayments and accrued income
24,240
17,307

Tax recoverable
428,720
-

2,748,041
560,797



8.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
1,302,491
3,469,063

Less: bank overdrafts
(2,354)
(19,391)

1,300,137
3,449,672


Page 11

 
K2 GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

9.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank overdrafts
2,353
19,391

Trade creditors
595,002
448,265

Amounts owed to group undertakings
1,101,802
1,287,409

Corporation tax
428,720
-

Other taxation and social security
99,136
15,823

Obligations under finance lease and hire purchase contracts
8,270
-

Other creditors
2,774
13,020

Accruals and deferred income
59,638
27,127

2,297,695
1,811,035



10.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Net obligations under finance leases and hire purchase contracts
69,390
-

69,390
-



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2022
2021
£
£


Within one year
8,270
-

Between 1-5 years
69,390
-

77,660
-

Page 12

 
K2 GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

12.


Deferred taxation




2022
2021


£

£






At beginning of year
(16,028)
(7,953)


Charged to profit or loss
16,028
(8,075)



At end of year
-
(16,028)

The deferred taxation balance is made up as follows:

2022
2021
£
£


Accelerated capital allowances
-
(16,028)

-
(16,028)


13.


Provisions




Provisions

£





At 1 November 2021
50,000


Utilised in year
(2,000)



At 31 October 2022
48,000

The provision relates to dilapidations required at the end of the company's tenancy lease.


14.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



2 (2021 - 2) Ordinary shares of £1.00 each
2
2


Page 13

 
K2 GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

15.


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 £(1,542) (
2021: £14,919).
Contributions totalling £2,002 (2021: £Nil) were payable to the fund at the balance sheet date and are
included in creditors.


16.


Commitments under operating leases

At 31 October 2022 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2022
2021
£
£


Not later than 1 year
158,774
-

Later than 1 year and not later than 5 years
802,224
-

Later than 5 years
919,215
-

1,880,213
-


17.


Related party transactions

The company has taken advantage of the exemption allowed by FRS 102 not to disclose transactions with wholly owned members of the group.
At the year end, included in other debtors is an amount of £1,270,282 
(2021: £83,305) owed by the director to the company.

 
Page 14