Caseware UK (AP4) 2022.0.179 2022.0.179 2022-11-302022-11-3012021-12-01falseNo description of principal activity1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09366044 2021-12-01 2022-11-30 09366044 2020-12-01 2021-11-30 09366044 2022-11-30 09366044 2021-11-30 09366044 c:Director1 2021-12-01 2022-11-30 09366044 d:PatentsTrademarksLicencesConcessionsSimilar 2022-11-30 09366044 d:PatentsTrademarksLicencesConcessionsSimilar 2021-11-30 09366044 d:Goodwill 2022-11-30 09366044 d:Goodwill 2021-11-30 09366044 d:CurrentFinancialInstruments 2022-11-30 09366044 d:CurrentFinancialInstruments 2021-11-30 09366044 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 09366044 d:CurrentFinancialInstruments d:WithinOneYear 2021-11-30 09366044 d:ShareCapital 2022-11-30 09366044 d:ShareCapital 2021-11-30 09366044 d:RetainedEarningsAccumulatedLosses 2022-11-30 09366044 d:RetainedEarningsAccumulatedLosses 2021-11-30 09366044 c:OrdinaryShareClass1 2021-12-01 2022-11-30 09366044 c:OrdinaryShareClass1 2022-11-30 09366044 c:OrdinaryShareClass1 2021-11-30 09366044 c:OrdinaryShareClass2 2021-12-01 2022-11-30 09366044 c:OrdinaryShareClass2 2022-11-30 09366044 c:OrdinaryShareClass2 2021-11-30 09366044 c:FRS102 2021-12-01 2022-11-30 09366044 c:AuditExempt-NoAccountantsReport 2021-12-01 2022-11-30 09366044 c:FullAccounts 2021-12-01 2022-11-30 09366044 c:PrivateLimitedCompanyLtd 2021-12-01 2022-11-30 09366044 d:Goodwill d:OwnedIntangibleAssets 2021-12-01 2022-11-30 09366044 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2021-12-01 2022-11-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09366044









KELSEY ACOUSTICS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2022

 
KELSEY ACOUSTICS LIMITED
REGISTERED NUMBER: 09366044

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2022

2022
2021 (As restated)
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,600
2,400

  
1,600
2,400

Current assets
  

Stocks
  
188,105
57,930

Debtors: amounts falling due within one year
 5 
200
2,128

Cash at bank and in hand
  
76,432
84,584

  
264,737
144,642

Creditors: amounts falling due within one year
 6 
(248,878)
(142,218)

Net current assets
  
 
 
15,859
 
 
2,424

Total assets less current liabilities
  
17,459
4,824

  

Net assets
  
17,459
4,824


Capital and reserves
  

Called up share capital 
 7 
200
200

Profit and loss account
  
17,259
4,624

  
17,459
4,824


Page 1

 
KELSEY ACOUSTICS LIMITED
REGISTERED NUMBER: 09366044
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2022

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.

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 comprehensive income 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 2 November 2023.




R A Stitcher
Director

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

Page 2

 
KELSEY ACOUSTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

1.


General information

Kelsey Acoustics Limited is a company limited by shares, incorporated in England and Wales. Its registered office is 38 Cromwell Road, Optikinetics, Luton, Bedfordshire, LU3 1DN.

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

Turnover

Turnover comprises revenue recognised by the company in respect of sale of equipment.

 
2.3

Taxation

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.

 
2.4

Intangible assets

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the profit and loss account over its useful economic life.
Intellectual property is stated at cost less amortisation. Amortisation is provided at rates calculated to write off the cost of intellectual property over its estimated economic life.

  
2.5

Functional and presentation currency

Items included in the financial statements of the Company are measured using the currency of the
primary economic environment in which the Company operates (the "functional currency").
The  functional  currency  of  the  Company  and  the  currency  in  which  the  financial  statements  are presented (the "presentational currency") is 'Pounds Sterling' (£) rounded to the nearest single unit of currency.

Page 3

 
KELSEY ACOUSTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

2.Accounting policies (continued)

 
2.6

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 reporting 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.

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
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.

 
2.9

Creditors

Short term creditors are measured at the transaction price.

 
2.10

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 and loans to related parties 


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).

Page 4

 
KELSEY ACOUSTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

4.


Intangible assets




Intellectual property
Goodwill
Total

£
£
£



Cost


At 1 December 2021
6,000
2,000
8,000



At 30 November 2022

6,000
2,000
8,000



Amortisation


At 1 December 2021
4,200
1,400
5,600


Charge for the year on owned assets
600
200
800



At 30 November 2022

4,800
1,600
6,400



Net book value



At 30 November 2022
1,200
400
1,600



At 30 November 2021
1,800
600
2,400




5.


Debtors

2022
2021 (As restated)
£
£


Other debtors
200
2,128

200
2,128


Page 5

 
KELSEY ACOUSTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Amounts owed to group undertakings
245,096
141,468

Corporation tax
2,982
-

Accruals and deferred income
800
750

248,878
142,218



7.


Share capital

2022
2021 (As restated)
£
£
Allotted, called up and fully paid



180 (2021 - 180) Ordinary A shares of £1.00 each
180
180
20 (2021 - 20) Ordinary B shares of £1.00 each
20
20

200

200

On 1 December 2018 there was an issue of 94 ordinary class A shares and 5 ordinary class B shares, at par value. 
On 7 April 2021 there was an issue of 85 ordinary class A shares and 15 ordinary class B shares, at par value. 



8.


Prior year adjustment

The comparative figures for share capital and other debtors have been restated to reflect an issue of share capital. There have been no changes to the profit or loss account as a result of the restatement.


9.


Related party transactions

The company is exempt from disclosing other related party transactions as they are with companies that are wholly owed within the group.


10.


Controlling party

The ultimate controlling party, and parent company, is Principle Capital Limited.

 
Page 6