Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2022-08-01falseNo description of principal activity2221true 02953345 2022-08-01 2023-07-31 02953345 2021-08-01 2022-07-31 02953345 2023-07-31 02953345 2022-07-31 02953345 c:CompanySecretary1 2022-08-01 2023-07-31 02953345 c:Director1 2022-08-01 2023-07-31 02953345 c:Director2 2022-08-01 2023-07-31 02953345 c:RegisteredOffice 2022-08-01 2023-07-31 02953345 d:Buildings d:LongLeaseholdAssets 2022-08-01 2023-07-31 02953345 d:Buildings d:LongLeaseholdAssets 2023-07-31 02953345 d:Buildings d:LongLeaseholdAssets 2022-07-31 02953345 d:MotorVehicles 2022-08-01 2023-07-31 02953345 d:MotorVehicles 2023-07-31 02953345 d:MotorVehicles 2022-07-31 02953345 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 02953345 d:FurnitureFittings 2022-08-01 2023-07-31 02953345 d:FurnitureFittings 2023-07-31 02953345 d:FurnitureFittings 2022-07-31 02953345 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 02953345 d:OfficeEquipment 2022-08-01 2023-07-31 02953345 d:OfficeEquipment 2023-07-31 02953345 d:OfficeEquipment 2022-07-31 02953345 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 02953345 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 02953345 d:CurrentFinancialInstruments 2023-07-31 02953345 d:CurrentFinancialInstruments 2022-07-31 02953345 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 02953345 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 02953345 d:ShareCapital 2023-07-31 02953345 d:ShareCapital 2022-07-31 02953345 d:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 02953345 d:RetainedEarningsAccumulatedLosses 2023-07-31 02953345 d:RetainedEarningsAccumulatedLosses 2021-08-01 2022-07-31 02953345 d:RetainedEarningsAccumulatedLosses 2022-07-31 02953345 d:RetainedEarningsAccumulatedLosses 2021-08-01 02953345 c:FRS102 2022-08-01 2023-07-31 02953345 c:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 02953345 c:FullAccounts 2022-08-01 2023-07-31 02953345 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 02953345 2 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure
Company registration number: 02953345







UNAUDITED DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2023


KESTREL ASSOCIATES LIMITED






































img66c8.png                        

 


KESTREL ASSOCIATES LIMITED
 


 
COMPANY INFORMATION


Directors
B E Easton 
Mrs J L Easton 




Company secretary
Mrs J L Easton



Registered number
02953345



Registered office
125 New Brighton Road

Emsworth

Hampshire

PO10 7QS




Accountants
Menzies LLP
Chartered Accountants

3000A Parkway

Whiteley

Hampshire

PO15 7FX





 


KESTREL ASSOCIATES LIMITED
 



CONTENTS



Page
Directors' report
1
Accountants' report
2
Statement of income and retained earnings
3
Statement of financial position
4 - 5
Notes to the financial statements
6 - 10


 


KESTREL ASSOCIATES LIMITED
 


 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JULY 2023

The directors present their report and the financial statements for the year ended 31 July 2023.

Directors

The directors who served during the year were:

B E Easton 
Mrs J L Easton 

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





B E Easton
Director

Date: 20 September 2023

Page 1

 


KESTREL ASSOCIATES LIMITED
 

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CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF KESTREL ASSOCIATES LIMITED
FOR THE YEAR ENDED 31 JULY 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kestrel Associates Limited for the year ended 31 July 2023 which comprise the Statement of income and retained earnings, the Statement of financial position and the related notes from the Company's accounting records and from information and explanations you have given to us.
 

As a member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at:
www.icaew.com/en/members/regulations-standards-and-guidance/.


This report is made solely to the Board of directors of Kestrel Associates Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Kestrel Associates Limited and state those matters that we have agreed to state to the Board of directors of Kestrel Associates Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kestrel Associates Limited and its Board of directors, as a body, for our work or for this report.
 
 
It is your duty to ensure that Kestrel Associates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and profit. You consider that Kestrel Associates Limited is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of Kestrel Associates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.




$AccRepSigner

Menzies LLP
 
Chartered Accountants
  
3000A Parkway
Whiteley
Hampshire
PO15 7FX


20 September 2023
$AccRepSignerDate

Page 2

 


KESTREL ASSOCIATES LIMITED
 


 
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 JULY 2023

2023
2022
Note
£
£

  

Turnover
  
573,632
527,665

Cost of sales
  
(349,071)
(333,010)

Gross profit
  
224,561
194,655

Administrative expenses
  
(154,679)
(140,451)

Other operating income
  
-
600

Operating profit
  
69,882
54,804

Interest receivable and similar income
  
5,117
66

Profit before tax
  
74,999
54,870

Tax on profit
  
(17,566)
(9,924)

Profit after tax
  
57,433
44,946

  

  

Retained earnings at the beginning of the year
  
357,079
322,133

  
357,079
322,133

Profit for the year
  
57,433
44,946

Dividends declared and paid
  
(20,000)
(10,000)

Retained earnings at the end of the year
  
394,512
357,079
The notes on pages 6 to 10 form part of these financial statements.

Page 3

 


KESTREL ASSOCIATES LIMITED
REGISTERED NUMBER:02953345



STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
44,589
49,180

  
44,589
49,180

Current assets
  

Debtors: amounts falling due within one year
 5 
43,633
39,543

Cash at bank and in hand
  
447,550
402,946

  
491,183
442,489

Creditors: amounts falling due within one year
 6 
(100,113)
(95,246)

Net current assets
  
 
 
391,070
 
 
347,243

Total assets less current liabilities
  
435,659
396,423

Provisions for liabilities
  

Deferred tax
  
(11,147)
(9,344)

  
 
 
(11,147)
 
 
(9,344)

Net assets
  
424,512
387,079

Page 4

 


KESTREL ASSOCIATES LIMITED
REGISTERED NUMBER:02953345


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2023

2023
2022
Note
£
£

Capital and reserves
  

Called up share capital 
  
30,000
30,000

Profit and loss account
  
394,512
357,079

  
424,512
387,079


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 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 were approved and authorised for issue by the board and were signed on its behalf by: 





B E Easton
Director

Date: 20 September 2023

The notes on pages 6 to 10 form part of these financial statements.

Page 5

 


KESTREL ASSOCIATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Kestrel Associates Limited is a private company limited by shares registered in England & Wales. The address of its registered office and principal place of business  is 125 New Brighton Road,  Emsworth, Hampshire, PO10 7QS
The presentation currency in these accounts is GBP rounded to the nearest £1.

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

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

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

 
2.4

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 6

 


KESTREL ASSOCIATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Long-term leasehold property
-
5 years straight line
Motor vehicles
-
25% written down value
Fixtures and fittings
-
25% written down value
Office equipment
-
25% written down value

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.

 
2.7

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.

Page 7

 


KESTREL ASSOCIATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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 directors, during the year was 22 (2022 - 21).

Page 8

 


KESTREL ASSOCIATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Tangible fixed assets





Long-term leasehold property
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 August 2022
8,227
57,180
14,980
13,956
94,343


Additions
-
-
8,225
3,667
11,892


Disposals
-
-
-
(3,815)
(3,815)



At 31 July 2023

8,227
57,180
23,205
13,808
102,420



Depreciation


At 1 August 2022
8,227
14,295
14,429
8,212
45,163


Charge for the year on owned assets
-
10,721
2,194
1,949
14,864


Disposals
-
-
-
(2,196)
(2,196)



At 31 July 2023

8,227
25,016
16,623
7,965
57,831



Net book value



At 31 July 2023
-
32,164
6,582
5,843
44,589



At 31 July 2022
-
42,885
551
5,744
49,180

Page 9

 


KESTREL ASSOCIATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Debtors

2023
2022
£
£


Trade debtors
33,269
31,731

Prepayments and accrued income
10,364
7,812

43,633
39,543



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Payments received on account
1,362
513

Trade creditors
3,568
3,352

Corporation tax
15,763
2,460

Other taxation and social security
3,707
4,018

Other creditors
-
11,741

Accruals and deferred income
75,713
73,162

100,113
95,246


 
Page 10