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REGISTERED NUMBER: 08798731 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Kayfast Limited

Kayfast Limited (Registered number: 08798731)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kayfast Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Miss L J Hartley
Mr K M Hartley
Mrs A Hartley





REGISTERED OFFICE: Unit 10 Flanshaw Way
Wakefield
West Yorkshire
WF2 9LP





REGISTERED NUMBER: 08798731 (England and Wales)





ACCOUNTANTS: Crowther Chartered Accountants
Abacus House
Pennine Business Park
Longbow Close
Huddersfield
West Yorkshire
HD2 1GQ

Kayfast Limited (Registered number: 08798731)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 13,500 27,000
Tangible assets 5 11,982 18,320
25,482 45,320

CURRENT ASSETS
Stocks 6 369,023 366,823
Debtors 7 133,297 144,667
Cash at bank 595,911 433,715
1,098,231 945,205
CREDITORS
Amounts falling due within one year 8 402,157 332,989
NET CURRENT ASSETS 696,074 612,216
TOTAL ASSETS LESS CURRENT
LIABILITIES

721,556

657,536

PROVISIONS FOR LIABILITIES 2,190 3,375
NET ASSETS 719,366 654,161

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 719,266 654,061
SHAREHOLDERS' FUNDS 719,366 654,161

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Kayfast Limited (Registered number: 08798731)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 November 2023 and were signed on its behalf by:




Mr K M Hartley - Director



Mrs A Hartley - Director


Kayfast Limited (Registered number: 08798731)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Kayfast Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 the estimated useful lives on the following bases:

Leasehold Improvements20% on cost
Plant & Machinery20% on reducing balance
Fixtures & Fittings20% on cost
Computer Equipment25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Kayfast Limited (Registered number: 08798731)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 April 2022
and 31 March 2023 135,000
AMORTISATION
At 1 April 2022 108,000
Amortisation for year 13,500
At 31 March 2023 121,500
NET BOOK VALUE
At 31 March 2023 13,500
At 31 March 2022 27,000

Kayfast Limited (Registered number: 08798731)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£ £ £ £ £
COST
At 1 April 2022 33,032 3,723 30,057 8,843 75,655
Additions - 237 - 3,035 3,272
At 31 March 2023 33,032 3,960 30,057 11,878 78,927
DEPRECIATION
At 1 April 2022 25,952 1,883 22,109 7,391 57,335
Charge for year 4,040 416 3,930 1,224 9,610
At 31 March 2023 29,992 2,299 26,039 8,615 66,945
NET BOOK VALUE
At 31 March 2023 3,040 1,661 4,018 3,263 11,982
At 31 March 2022 7,080 1,840 7,948 1,452 18,320

6. STOCKS
31.3.23 31.3.22
£ £
Stocks 369,023 366,823

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£ £
Amounts owed by associates 5,273 5,080
Other debtors 200 200
Directors' loan accounts 127,265 137,710
Prepayments 559 1,677
133,297 144,667

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£ £
Trade creditors 310,388 244,558
Tax 49,081 35,401
Social security and other tax 8 -
Pension liability 869 680
VAT 41,811 52,350
402,157 332,989

Kayfast Limited (Registered number: 08798731)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.23 31.3.22
£ £
Within one year 3,697 1,894
Between one and five years - 559
3,697 2,453

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £ £
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£

At 1 April 2022 654,061
Profit for the year 202,915
Dividends (137,710 )
At 31 March 2023 719,266

Kayfast Limited (Registered number: 08798731)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2022 and 31 March 2023:

31.3.2331.3.22
££
Director 1
Balance outstanding at start of year45,90342,145
Amounts advance42,42245,904
Amounts repaid(45,903)(42,145)
Amounts written off--
Amounts waived--
Balance outstanding at end of year42,42245,904

Director 2
Balance outstanding at start of year45,90342,145
Amounts advanced42,42245,903
Amounts repaid(45,903)(42,145)
Amounts written off--
Amounts waived--
Balance outstanding at end of year42,42245,903

Director 3
Balance outstanding at start of year45,90342,145
Amounts advanced42,42245,903
Amounts repaid(45,903)(42,145)
Amounts written off--
Amounts waived--
Balance outstanding at end of year42,42245,903




13. ULTIMATE CONTROLLING PARTY

The controlling party is Mr K M Hartley.