Caseware UK (AP4) 2022.0.179 2022.0.179 2023-10-312023-10-31trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-11-01falseOther business support service activites not elsewhere classified11true 09258238 2022-11-01 2023-10-31 09258238 2022-01-01 2022-10-31 09258238 2023-10-31 09258238 2022-10-31 09258238 c:Director1 2022-11-01 2023-10-31 09258238 d:Buildings 2022-11-01 2023-10-31 09258238 d:Buildings 2023-10-31 09258238 d:Buildings 2022-10-31 09258238 d:Buildings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 09258238 d:PlantMachinery 2022-11-01 2023-10-31 09258238 d:PlantMachinery 2023-10-31 09258238 d:PlantMachinery 2022-10-31 09258238 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 09258238 d:MotorVehicles 2022-11-01 2023-10-31 09258238 d:MotorVehicles 2023-10-31 09258238 d:MotorVehicles 2022-10-31 09258238 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 09258238 d:FurnitureFittings 2022-11-01 2023-10-31 09258238 d:FurnitureFittings 2023-10-31 09258238 d:FurnitureFittings 2022-10-31 09258238 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 09258238 d:ComputerEquipment 2022-11-01 2023-10-31 09258238 d:ComputerEquipment 2023-10-31 09258238 d:ComputerEquipment 2022-10-31 09258238 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 09258238 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 09258238 d:PatentsTrademarksLicencesConcessionsSimilar 2023-10-31 09258238 d:PatentsTrademarksLicencesConcessionsSimilar 2022-10-31 09258238 d:CurrentFinancialInstruments 2023-10-31 09258238 d:CurrentFinancialInstruments 2022-10-31 09258238 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 09258238 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 09258238 d:ShareCapital 2023-10-31 09258238 d:ShareCapital 2022-10-31 09258238 d:RetainedEarningsAccumulatedLosses 2023-10-31 09258238 d:RetainedEarningsAccumulatedLosses 2022-10-31 09258238 d:AcceleratedTaxDepreciationDeferredTax 2023-10-31 09258238 d:AcceleratedTaxDepreciationDeferredTax 2022-10-31 09258238 c:OrdinaryShareClass1 2022-11-01 2023-10-31 09258238 c:OrdinaryShareClass1 2023-10-31 09258238 c:OrdinaryShareClass1 2022-10-31 09258238 c:FRS102 2022-11-01 2023-10-31 09258238 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 09258238 c:FullAccounts 2022-11-01 2023-10-31 09258238 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 09258238 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2022-11-01 2023-10-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 09258238









KEVS DISCOUNT SPARES LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
KEVS DISCOUNT SPARES LTD
REGISTERED NUMBER: 09258238

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Intangible assets
 4 
361
403

Tangible assets
 5 
301,997
327,667

  
302,358
328,070

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 6 
9,969
5,049

Cash at bank and in hand
  
555,377
500,831

  
565,346
505,880

Creditors: amounts falling due within one year
 7 
(175,855)
(108,701)

NET CURRENT ASSETS
  
 
 
389,491
 
 
397,179

TOTAL ASSETS LESS CURRENT LIABILITIES
  
691,849
725,249

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(75,499)
(31,962)

  
 
 
(75,499)
 
 
(31,962)

NET ASSETS
  
616,350
693,287


CAPITAL AND RESERVES
  

Called up share capital 
 9 
1
1

Profit and loss account
  
616,349
693,286

  
616,350
693,287


Page 1

 
KEVS DISCOUNT SPARES LTD
REGISTERED NUMBER: 09258238
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 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: 




K Talbot
Director

Date: 2 April 2024

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

Page 2

 
KEVS DISCOUNT SPARES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


GENERAL INFORMATION

Kevs Discount Spares Limited is a private limited company incorporated in England and Wales. Its registered office address is Salisbury House, Station Road, Cambridge, CB1 2LA.
Its functional and presentational currency is GBP.

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

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'.

 
2.3

TURNOVER

Turnover comprises revenue recognised by the Company in respect of multi-media broadcasting and the sale of spare parts during the year, exclusive of Value Added Tax. 
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Page 3

 
KEVS DISCOUNT SPARES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

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 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 balance sheet date.

 
2.5

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.

 
2.6

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

 
KEVS DISCOUNT SPARES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.6
TANGIBLE FIXED ASSETS (CONTINUED)

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

Depreciation is provided on the following basis:

Freehold property
-
Plant and machinery
-
25%
Motor vehicles
-
25%
Fixtures and fittings
-
25%
Computer equipment
-
25%

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

PROVISIONS FOR LIABILITIES

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Page 5

 
KEVS DISCOUNT SPARES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.11

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

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

Page 6

 
KEVS DISCOUNT SPARES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


INTANGIBLE ASSETS




Trademarks

£



COST


At 1 November 2022
420



At 31 October 2023

420



AMORTISATION


At 1 November 2022
17


Charge for the year on owned assets
42



At 31 October 2023

59



NET BOOK VALUE



At 31 October 2023
361



At 31 October 2022
403



Page 7

 


 
KEVS DISCOUNT SPARES LTD


 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


5.


TANGIBLE FIXED ASSETS






Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£
£



COST OR VALUATION


At 1 November 2022
155,000
274,543
-
2,479
13,022
445,044


Additions
-
9,992
6,000
-
5,687
21,679



At 31 October 2023

155,000
284,535
6,000
2,479
18,709
466,723



DEPRECIATION


At 1 November 2022
-
104,866
-
1,680
10,831
117,377


Charge for the year on owned assets
-
43,847
750
200
2,552
47,349



At 31 October 2023

-
148,713
750
1,880
13,383
164,726



NET BOOK VALUE



At 31 October 2023
155,000
135,822
5,250
599
5,326
301,997



At 31 October 2022
155,000
169,677
-
799
2,191
327,667

Page 8

 
KEVS DISCOUNT SPARES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

6.


DEBTORS

2023
2022
£
£


Trade debtors
-
1,874

Other debtors
4,225
3,175

Prepayments and accrued income
5,744
-

9,969
5,049


Included within other debtors due within one year is a loan to a director, amounting to £1,491. The loan is free from interest free and repayable on demand. 




7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Trade creditors
584
26

Corporation tax
171,962
111,941

Other taxation and social security
359
370

Other creditors
-
(3,636)

Accruals and deferred income
2,950
-

175,855
108,701


Page 9

 
KEVS DISCOUNT SPARES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

8.


DEFERRED TAXATION




2023


£






At beginning of year
(31,962)


Charged to profit or loss
(43,537)



AT END OF YEAR
(75,499)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(75,499)
(31,962)

(75,499)
(31,962)


9.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1 (2022 - 1) Ordinary share of £1.00
1
1


 
Page 10