Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-312022-06-01false1514truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01408993 2022-06-01 2023-05-31 01408993 2021-06-01 2022-05-31 01408993 2023-05-31 01408993 2022-05-31 01408993 2021-06-01 01408993 c:Director1 2022-06-01 2023-05-31 01408993 d:PlantMachinery 2022-06-01 2023-05-31 01408993 d:PlantMachinery 2023-05-31 01408993 d:PlantMachinery 2022-05-31 01408993 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 01408993 d:MotorVehicles 2022-06-01 2023-05-31 01408993 d:FurnitureFittings 2022-06-01 2023-05-31 01408993 d:ComputerEquipment 2022-06-01 2023-05-31 01408993 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-31 01408993 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-05-31 01408993 d:CurrentFinancialInstruments 2023-05-31 01408993 d:CurrentFinancialInstruments 2022-05-31 01408993 d:Non-currentFinancialInstruments 2023-05-31 01408993 d:Non-currentFinancialInstruments 2022-05-31 01408993 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 01408993 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 01408993 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 01408993 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 01408993 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 01408993 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-05-31 01408993 d:ShareCapital 2023-05-31 01408993 d:ShareCapital 2022-05-31 01408993 d:RetainedEarningsAccumulatedLosses 2023-05-31 01408993 d:RetainedEarningsAccumulatedLosses 2022-05-31 01408993 c:FRS102 2022-06-01 2023-05-31 01408993 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 01408993 c:FullAccounts 2022-06-01 2023-05-31 01408993 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 01408993 6 2022-06-01 2023-05-31 01408993 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 01408993 d:AcceleratedTaxDepreciationDeferredTax 2022-05-31 iso4217:GBP xbrli:pure
Registered number: 01408993


THE KENTON GROUP LIMITED
UNAUDITED
DIRECTOR'S REPORT AND FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MAY 2023

 
THE KENTON GROUP LIMITED
 
 
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MAY 2023

The Director presents his report and the financial statements for the year ended 31 May 2023.

Principal activity

The principal activity of the Company is the development of products and services to meet the demands of the
Telecommunications market.

Director

The Director who served during the year was:

J S Larkin 

Small companies note

In preparing this report, the Director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





................................................
J S Larkin
Director

Date: 22 February 2024

Page 1

 
THE KENTON GROUP LIMITED
REGISTERED NUMBER:01408993

BALANCE SHEET
AS AT 31 MAY 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Tangible assets
 5 
34,897
47,823

Investments
 6 
-
200

  
34,897
48,023

Current assets
  

Stocks
 7 
2,341,631
947,254

Debtors: amounts falling due within one year
 8 
4,081,656
2,051,514

Cash at bank and in hand
 9 
34,581
82,892

  
6,457,868
3,081,660

Creditors: amounts falling due within one year
 10 
(5,599,412)
(1,912,789)

Net current assets
  
 
 
858,456
 
 
1,168,871

Total assets less current liabilities
  
893,353
1,216,894

Creditors: amounts falling due after more than one year
 11 
-
(36,106)

Provisions for liabilities
  

Deferred tax
 13 
(2,938)
-

  
 
 
(2,938)
 
 
-

Net assets
  
890,415
1,180,788


Capital and reserves
  

Called up share capital 
  
22,500
22,500

Profit and loss account
  
867,915
1,158,288

  
890,415
1,180,788

Page 2

 
THE KENTON GROUP LIMITED
REGISTERED NUMBER:01408993
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 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 income and retained earnings 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 by: 






................................................
J S Larkin
Director

Date: 22 February 2024

The notes on pages 4 to 13 form part of these financial statements.

Page 3

 
THE KENTON GROUP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

The Kenton Group Limited is a company limited by shares, registered in England and Wales,
registered number 01408993. The registered office and principal place of business is Blue Space Sus Con, Brunel Way, Dartford, Kent, DA1 5FW. 

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

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

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.

Page 4

 
THE KENTON GROUP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Plant and machinery
-
25% reducing balance
Motor vehicles
-
33% straight line
Fixtures and fittings
-
25% straight line
Computer equipment
-
33% straight line

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.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.7

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 balance sheet 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.

 
2.8

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.

Page 5

 
THE KENTON GROUP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.9

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.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

 
2.11

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.

 
2.12

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 6

 
THE KENTON GROUP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.13

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.

 
2.14

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.15

Borrowing costs

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

 
2.16

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 balance sheet 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 balance sheet, 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 balance sheet date.

Page 7

 
THE KENTON GROUP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

  
2.17

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will
generate future economic benefits and hence all expenditure on research shall be recognised as an
expense when it is incurred. Intangible assets are recognised from the development phase of a
project if and only if certain specific criteria are met in order to demonstrate the asset will generate
probable future economic benefits and that its cost can be reliably measured. The capitalised
development costs are subsequently amortised on a straight line basis over their useful economic
lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an
internal project, the expenditure is treated as if it were all incurred in the research phase only.

  
2.18

Confidential invoice discounting

The Company has entered into a confidential invoice discounting arrangement in respect of certain of its trade debtors. The risks and rewards of ownership remain with the Company and therefore
amounts advanced are treated as a loan classified as payments received on account and included in
creditors, amounts falling due within one year.


3.


Employees

The average monthly number of employees, including directors, during the year was 15 (2022 - 14).


4.


Intangible assets



Development

£



Cost


At 1 June 2022
469,497



At 31 May 2023

469,497



Amortisation


At 1 June 2022
469,497



At 31 May 2023

469,497



Net book value



At 31 May 2023
-



At 31 May 2022
-



Page 8

 
THE KENTON GROUP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

5.


Tangible fixed assets





Property, plant and equipment

£



Cost or valuation


At 1 June 2022
415,241


Additions
6,354



At 31 May 2023

421,595



Depreciation


At 1 June 2022
367,418


Charge for the year on owned assets
19,280



At 31 May 2023

386,698



Net book value



At 31 May 2023
34,897



At 31 May 2022
47,823


6.


Fixed asset investments





Investments in subsidiary companies

£





At 1 June 2022
200


Disposals
(200)



At 31 May 2023
-





7.


Stocks

2023
2022
£
£

Finished goods and goods for resale
2,341,631
947,254


Page 9

 
THE KENTON GROUP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

8.


Debtors

2023
2022
£
£


Trade debtors
3,472,335
1,458,859

Amounts owed by group undertakings
530,678
530,678

Other debtors
78,643
56,959

Deferred taxation
-
5,018

4,081,656
2,051,514



9.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
34,581
82,892


Page 10

 
THE KENTON GROUP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

10.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
36,106
33,336

Payments received on account
1,295,554
580,414

Trade creditors
3,047,174
910,196

Corporation tax
203,578
147,109

Other taxation and social security
124,741
136,361

Other creditors
315,675
41,616

Accruals and deferred income
576,584
63,757

5,599,412
1,912,789


The following liabilities were secured:

2023
2022
£
£



Payments received on account
1,295,554
580,414

Other loans
36,106
69,442

1,331,660
649,856

Details of security provided:

The Close Invoice Finance loan is secured by a fixed and floating charge on the assets of the company.


11.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
-
36,106


Page 11

 
THE KENTON GROUP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

12.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Other loans

36,106
33,336

Amounts falling due 1-2 years

Other loans

-
36,106



36,106
69,442



13.


Deferred taxation




2023
2022


£

£






At beginning of year
5,018
4,060


Charged to the statement of income and retained earnings
(7,956)
958



At end of year
(2,938)
5,018

2023
2022
£
£


Accelerated capital allowances
(2,938)
5,018


14.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions totalling £1,695 (2022 - £2,306) payable to the fund at the balance sheet date and are included in creditors.


15.


Related party transactions

During the year, dividends of £844,248 (2022 - £nil) were paid to Kenton Research Limited.

Page 12

 
THE KENTON GROUP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

16.


Ultimate Parent Undertaking

The ultimate parent undertaking of the company is Kenton Group Employee Ownership Trustee Ltd which is, registered in England and Wales, registered number 14385451. The registered office is Blue Space Sus Con, Brunel Way, Dartford, Kent, DA1 5FW.


 
Page 13