Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-28118051242023-02-282022-03-01false11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11805124 2022-03-01 2023-02-28 11805124 2021-03-01 2022-02-28 11805124 2023-02-28 11805124 2022-02-28 11805124 c:Director1 2022-03-01 2023-02-28 11805124 d:FurnitureFittings 2022-03-01 2023-02-28 11805124 d:FurnitureFittings 2023-02-28 11805124 d:FurnitureFittings 2022-02-28 11805124 d:FreeholdInvestmentProperty 2022-03-01 2023-02-28 11805124 d:FreeholdInvestmentProperty 2023-02-28 11805124 d:CurrentFinancialInstruments 2023-02-28 11805124 d:CurrentFinancialInstruments 2022-02-28 11805124 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 11805124 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 11805124 d:ShareCapital 2023-02-28 11805124 d:ShareCapital 2022-02-28 11805124 d:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 11805124 d:RetainedEarningsAccumulatedLosses 2023-02-28 11805124 d:RetainedEarningsAccumulatedLosses 2022-02-28 11805124 c:OrdinaryShareClass1 2022-03-01 2023-02-28 11805124 c:OrdinaryShareClass1 2023-02-28 11805124 c:OrdinaryShareClass1 2022-02-28 11805124 c:FRS102 2022-03-01 2023-02-28 11805124 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 11805124 c:FullAccounts 2022-03-01 2023-02-28 11805124 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 11805124 2 2022-03-01 2023-02-28 11805124 d:EntityControlledByKeyManagementPersonnel1 d:SaleOrPurchaseGoods 2022-03-01 2023-02-28 11805124 d:EntityControlledByKeyManagementPersonnel2 d:SaleOrPurchaseGoods 2022-03-01 2023-02-28 11805124 d:EntityControlledByKeyManagementPersonnel1 d:SaleOrPurchaseGoods 2023-02-28 11805124 d:EntityControlledByKeyManagementPersonnel2 d:SaleOrPurchaseGoods 2023-02-28 xbrli:shares iso4217:GBP xbrli:pure



















Kingfisher Capital Limited

Registered number: 11805124
Information for filing with the Registrar
For the year ended 28 February 2023

 
 11805124
28 February 2023
KINGFISHER CAPITAL LIMITED
REGISTERED NUMBER: 11805124

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
95,000
-

Investment property
 6 
1,940,589
-

  
2,035,589
-

Current assets
  

Debtors: amounts falling due within one year
 7 
2,658,402
838,481

Cash at bank and in hand
  
66,283
572,722

  
2,724,685
1,411,203

Creditors: amounts falling due within one year
 8 
(4,798,014)
(1,488,356)

Net current liabilities
  
 
 
(2,073,329)
 
 
(77,153)

  

Net liabilities
  
(37,740)
(77,153)


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
 10 
(37,840)
(77,253)

  
(37,740)
(77,153)


- 1 -

 
 11805124
28 February 2023
KINGFISHER CAPITAL LIMITED
REGISTERED NUMBER: 11805124
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 2023

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 1 November 2023.



J S Brooksbank
Director

The notes on pages 3 to 10 form part of these financial statements.

- 2 -

 
 11805124
28 February 2023
KINGFISHER CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Kingfisher Capital Limited (the “Company”) is a private company, limited by shares and registered in England and Wales, registered number 11805124. The registered office is Clifton House Birkby Lane, Bailiff Bridge, Brighouse, United Kingdom, HD6 4JJ.
The principal activity of the Company is a finance business which provides financing to clients in the form of loans.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

These financial statements have been presented in pound sterling which is the functional currency of the Company, and rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

Not withstanding the net liabilities, the use of the going concern basis of accounting is appropriate because the directors are not aware of any material uncertainties related to events or conditions that may cast significant doubt about the ability of the Company to continue as a going concern. The Company has the financial support of the director and connected undertakings which ensures that the Company is able to meet all its working capital requirement.

 
2.3

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.

- 3 -

 
 11805124
28 February 2023
KINGFISHER CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.4

Interest income

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

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

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.

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.

- 4 -

 
 11805124
28 February 2023
KINGFISHER CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.8

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, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures & fittings
-
20%

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.

  
2.9

Investment property

Investment property is carried at fair value determined annually by the director where the value has not been deemed to have changed significantly from its previously stated value. When the value is deemed to have changed significantly the fair value is determined by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.10

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.

 
2.11

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.

 
2.12

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.

- 5 -

 
 11805124
28 February 2023
KINGFISHER CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.13

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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

- 6 -

 
 11805124
28 February 2023
KINGFISHER CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Key sources of estimation uncertainty
Critical judgements in applying the Company's accounting policies
The critical judgements that the directors have made in the process of applying the Company's accounting policies that have the most significant effect on the statutory financial statements are discussed below.
(i) Assessing indicators of impairment
In assessing whether there have been any indicators of impairment assets, the directors have considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience of recoverability. There have been no indicators of impairments identified during the current financial year.
(ii) Investment property valuation
Investment properties are subject to valuation on an annual basis. The director applies his judgement in assessing the valuation where the value has not been deemed to have changed significantly from its previously stated value. When the value is deemed to have changed significantly, the director will obtain a valuation by an appropriately qualified valuer. These valuations are inherently judgemental, but the director believes the surveyors responsible are appropriately qualified and experienced.
Key sources of estimation uncertainty
(i) Recoverability of debtors
The Company establishes a provision for debtors that are estimated not to be recoverable. When assessing recoverability, the director has have considered factors such as the aging of the debtors, past experience of recoverability, and the credit profile of individual or groups of customers.
 

- 7 -

 
 11805124
28 February 2023
KINGFISHER CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


5.


Tangible fixed assets





Fixtures & fittings

£



Cost 


Additions
95,000



At 28 February 2023

95,000






Net book value



At 28 February 2023
95,000



At 28 February 2022
-


6.


Investment property


Freehold investment property

£



Valuation


Additions at cost
1,940,589



At 28 February 2023
1,940,589

The 2023 valuations were made by the director, on an open market value for existing use basis.



- 8 -

 
 11805124
28 February 2023
KINGFISHER CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

7.


Debtors

2023
2022
£
£


Trade debtors
1,786,573
550,000

Amounts owed by entities under common control
869,415
287,223

Other debtors
-
519

Tax recoverable
2,414
739

2,658,402
838,481


Amounts owed by entities under common control are unsecured, interest free and repayable on demand.


8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loan
1,868,530
-

Trade creditors
1,740
2,820

Amounts owed to entities under common control
1,314,698
16,154

Other creditors
1,574,299
1,464,482

Accruals and deferred income
38,747
4,900

4,798,014
1,488,356


Amounts owed to entities under common control are unsecured, interest free and repayable on demand.
The other loan is secured over the freehold property of the Company. 


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100


- 9 -

 
 11805124
28 February 2023
KINGFISHER CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

10.


Reserves

Profit & loss account

The profit and loss account reserve represents cumulative profits and losses made by the Company to date.


11.


Related party transactions

At the year end, the following amounts were due to/(from) related parties, where J S Brooksbank is also a director: 


2023
2022
£
£

Entities under common control
445,283
(271,069)
Other related parties
1,574,299
1,464,482


12.


Controlling party

The Company is controlled by the director, who owns 100% of the equity share capital of the Company. 

 
- 10 -