Company Registration No. 09925547 (England and Wales)
KESMERE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JANUARY 2023
31 January 2023
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
KESMERE LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
KESMERE LTD
BALANCE SHEET
AS AT 31 JANUARY 2023
31 January 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
5
283,450
286,402
Cash at bank and in hand
787
2,767
284,237
289,169
Creditors: amounts falling due within one year
6
(583,833)
(581,623)
Net current liabilities
(299,596)
(292,454)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(299,696)
(292,554)
Total equity
(299,596)
(292,454)
The notes on pages 2 to 4 form part of these financial statements.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 23 October 2023 and are signed on its behalf by:
Mr J O Winfield
Director
Company Registration No. 09925547
KESMERE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
- 2 -
1
Accounting policies
Company information
Kesmere Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Albert Mill, Mill Street, Haslingden, Lancashire, BB4 5JW.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
During the year the company met its day to day working capital requirements by the financial support of a related party which has agreed to continue to support the company. true
On this basis the director considers it appropriate to prepare the accounts on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of this support.
1.3
Turnover
Turnover represents the value of goods sold during the period, less returns received, exclusive of Value Added Tax.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Intellectual property
33% on cost
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
20% to 30% on cost
KESMERE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
1
Accounting policies
(Continued)
- 3 -
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
Intangible fixed assets
Intellectual property
£
Cost
At 1 February 2022 and 31 January 2023
25,648
Amortisation and impairment
At 1 February 2022 and 31 January 2023
25,648
Carrying amount
At 31 January 2023
At 31 January 2022
4
Tangible fixed assets
Computers
£
Cost
At 1 February 2022 and 31 January 2023
1,800
Depreciation and impairment
At 1 February 2022 and 31 January 2023
1,800
Carrying amount
At 31 January 2023
At 31 January 2022
KESMERE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 4 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
282,636
285,714
Other debtors
814
688
283,450
286,402
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,785
Taxation and social security
19,615
Other creditors
581,048
562,008
583,833
581,623