1 false false false false false false false false false true false false false false false false No description of principal activity 2022-06-01 Sage Accounts Production Advanced 2021 - FRS102_2021 69,819 8,617 78,436 78,436 69,819 xbrli:pure xbrli:shares iso4217:GBP 08025911 2022-06-01 2023-05-31 08025911 2023-05-31 08025911 2021-06-01 2022-05-31 08025911 2022-05-31 08025911 bus:Director1 2022-06-01 2023-05-31 08025911 core:WithinOneYear 2023-05-31 08025911 core:WithinOneYear 2022-05-31 08025911 core:AfterOneYear 2023-05-31 08025911 core:AfterOneYear 2022-05-31 08025911 core:ShareCapital 2023-05-31 08025911 core:ShareCapital 2022-05-31 08025911 core:RetainedEarningsAccumulatedLosses 2023-05-31 08025911 core:RetainedEarningsAccumulatedLosses 2022-05-31 08025911 core:CostValuation core:Non-currentFinancialInstruments 2022-05-31 08025911 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-05-31 08025911 core:CostValuation core:Non-currentFinancialInstruments 2023-05-31 08025911 core:Non-currentFinancialInstruments 2023-05-31 08025911 core:Non-currentFinancialInstruments 2022-05-31 08025911 bus:Director1 2022-05-31 08025911 bus:Director1 2021-05-31 08025911 bus:Director1 2022-05-31 08025911 bus:Director1 2021-06-01 2022-05-31 08025911 bus:SmallEntities 2022-06-01 2023-05-31 08025911 bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 08025911 bus:FullAccounts 2022-06-01 2023-05-31 08025911 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 08025911 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31
COMPANY REGISTRATION NUMBER: 08025911
Kitkat Developments Limited
Filleted Unaudited Financial Statements
31 May 2023
Kitkat Developments Limited
Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
£
Fixed assets
Investments
5
78,436
69,819
Current assets
Stocks
1,085,334
932,892
Debtors
6
284,110
281,643
Cash at bank and in hand
1,413
3,640
------------
------------
1,370,857
1,218,175
Creditors: amounts falling due within one year
7
763,677
659,309
------------
------------
Net current assets
607,180
558,866
---------
---------
Total assets less current liabilities
685,616
628,685
Creditors: amounts falling due after more than one year
8
24,121
40,860
---------
---------
Net assets
661,495
587,825
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
661,395
587,725
---------
---------
Shareholders funds
661,495
587,825
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Kitkat Developments Limited
Statement of Financial Position (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 17 January 2024 , and are signed on behalf of the board by:
Mr R Maher
Director
Company registration number: 08025911
Kitkat Developments Limited
Notes to the Financial Statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 1 Bell Street, 2nd Floor, London, NW1 5BY, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents sale of properties during the year.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Investments
Other investments other than loans
£
Cost
At 1 June 2022
69,819
Additions
8,617
--------
At 31 May 2023
78,436
--------
Impairment
At 1 June 2022 and 31 May 2023
--------
Carrying amount
At 31 May 2023
78,436
--------
At 31 May 2022
69,819
--------
6. Debtors
2023
2022
£
£
Other debtors
284,110
281,643
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
485,599
376,060
Trade creditors
7,381
7,380
Accruals and deferred income
7,380
7,380
Corporation tax
21,647
27,733
Director loan accounts
7,604
Other creditors
241,670
233,152
---------
---------
763,677
659,309
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
24,121
40,860
--------
--------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr R Maher
( 7,604)
7,604
-------
-------
----
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr R Maher
( 2,550)
( 5,054)
( 7,604)
-------
-------
-------
10. Related party transactions
The company was under the control of Mr Maher and Mrs Maher throughout the current and previous year. Mr Maher is the managing director and 25% shareholder with Mrs Maher owning the remaining 75%. During the year the company paid a dividend of £14,000 (2022: £12,000) to its shareholders.