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Registration number: 05514130

Kokoon Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2023

 

Kokoon Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Kokoon Limited

(Registration number: 05514130)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

587,720

381,647

Current assets

 

Stocks

6

25,540

33,980

Debtors

7

631,486

475,693

Cash at bank and in hand

 

669,283

429,405

 

1,326,309

939,078

Creditors: Amounts falling due within one year

8

(816,985)

(593,204)

Net current assets

 

509,324

345,874

Total assets less current liabilities

 

1,097,044

727,521

Creditors: Amounts falling due after more than one year

8

(475,188)

(493,384)

Provisions for liabilities

(111,667)

(72,513)

Net assets

 

510,189

161,624

Capital and reserves

 

Called up share capital

9

190

190

Retained earnings

509,999

161,434

Shareholders' funds

 

510,189

161,624

For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 27 October 2023 and signed on its behalf by:
 

 

Kokoon Limited

(Registration number: 05514130)
Balance Sheet as at 31 January 2023


Mr J H Morris
Director


Mr B J Cooper
Director


Mr J R Lister
Director


Mr C Whitaker
Director

 

Kokoon Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit 4 Newhall Business Park
Newhall Way
Bradford
BD5 8FE

These financial statements were authorised for issue by the Board on 27 October 2023.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Kokoon Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

10% straight line

Plant and machinery

20% straight line

Motor vehicles

25% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Kokoon Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 25 (2022 - 22).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

122,822

110,064

 

Kokoon Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

5

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2022

148,844

132,668

609,728

891,240

Additions

18,204

209,309

111,197

338,710

At 31 January 2023

167,048

341,977

720,925

1,229,950

Depreciation

At 1 February 2022

81,633

87,769

353,947

523,349

Charge for the year

15,285

29,911

73,685

118,881

At 31 January 2023

96,918

117,680

427,632

642,230

Carrying amount

At 31 January 2023

70,130

224,297

293,293

587,720

At 31 January 2022

67,211

44,899

269,537

381,647

Included within the net book value of land and buildings above is £70,130 (2022 - £67,210) in respect of short leasehold land and buildings.
 

6

Stocks

2023
£

2022
£

Other inventories

25,540

33,980

7

Debtors

Current

2023
£

2022
£

Trade debtors

535,801

317,720

Prepayments

50,101

42,359

Other debtors

45,584

115,614

 

631,486

475,693

 

Kokoon Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Directors loan accounts

10

125,511

125,232

trade creditors

 

281,219

233,713

Taxation and social security

 

89,954

10,515

Accruals and deferred income

 

51,697

26,627

Other creditors

 

268,604

197,117

 

816,985

593,204

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

290,000

410,018

Other non-current financial liabilities

 

185,188

83,366

 

475,188

493,384

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

190

190

190

190

         

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

290,000

410,018

 

Kokoon Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

2023
£

2022
£

Current loans and borrowings

Bank borrowings

120,000

120,000

Directors loan accounts

5,511

5,232

125,511

125,232

11

Parent and ultimate parent undertaking

The company's immediate parent is Kokoon Holdings Limited, incorporated in United Kingdom.