Company Registration No. SC198486 (Scotland)
KAVA LIMITED
Unaudited accounts
for the year ended 31 August 2023
KAVA LIMITED
Company Information
for the year ended 31 August 2023
Directors
Mr E Ecrepont
Mrs F Ecrepont
Company Number
SC198486 (Scotland)
Registered Office
57 FORT STREET
AYR
KA7 1DH
Accountants
McMorland & Co FTCA Limited
24 York Street
Ayr
KA8 8AZ
KAVA LIMITED
Accountants' report
Accountants' report to the board of directors of KAVA LIMITED on the preparation of the unaudited statutory accounts for the year ended 31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
KAVA LIMITED for the year ended
31 August 2023 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of KAVA LIMITED, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of KAVA LIMITED and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KAVA LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that KAVA LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of KAVA LIMITED. You consider that KAVA LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of KAVA LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
McMorland & Co FTCA Limited
24 York Street
Ayr
KA8 8AZ
3 April 2024
KAVA LIMITED
Statement of financial position
as at 31 August 2023
Tangible assets
8,088
13,153
Cash at bank and in hand
35,584
29,056
Creditors: amounts falling due within one year
(32,953)
(28,065)
Net current assets
13,765
16,888
Total assets less current liabilities
22,854
33,741
Creditors: amounts falling due after more than one year
(8,750)
(13,750)
Called up share capital
20,000
20,000
Profit and loss account
(5,896)
(9)
Shareholders' funds
14,104
19,991
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 3 April 2024 and were signed on its behalf by
Mr E Ecrepont
Director
Company Registration No. SC198486
KAVA LIMITED
Notes to the Accounts
for the year ended 31 August 2023
KAVA LIMITED is a private company, limited by shares, registered in Scotland, registration number SC198486. The registered office is 57 FORT STREET, AYR, KA7 1DH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
5% on cost
Plant & machinery
20% on cost
Motor vehicles
33% on cost
Investments in shares are included at fair value.
Stock has been valued at the lower of cost and estimated selling price less costs to complete and sell.
Taxation for the year comprises current 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 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.
KAVA LIMITED
Notes to the Accounts
for the year ended 31 August 2023
4
Intangible fixed assets
Goodwill
At 1 September 2022
67,500
At 1 September 2022
64,800
5
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2022
3,505
8,500
50,503
62,508
At 31 August 2023
3,505
8,500
51,425
63,430
At 1 September 2022
3,284
3,513
42,558
49,355
Charge for the year
176
2,805
3,006
5,987
At 31 August 2023
3,460
6,318
45,564
55,342
At 31 August 2023
45
2,182
5,861
8,088
At 31 August 2022
221
4,987
7,945
13,153
6
Investments
Subsidiary undertakings
Valuation at 1 September 2022
1,000
Valuation at 31 August 2023
1,000
Finished goods
2,100
2,100
KAVA LIMITED
Notes to the Accounts
for the year ended 31 August 2023
Amounts falling due within one year
Other debtors
9,034
13,797
9
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
5,000
5,000
Trade creditors
15,418
5,305
Taxes and social security
4,535
7,453
Other creditors
8,000
10,307
10
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
20,000 Ordinary shares of £1 each
20,000
20,000
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loan
9,234
33,764
37,826
5,172
9,234
33,764
37,826
5,172
13
Transactions with related parties
The company has a liability of £950 owed to Mr M McCoard at the period end (2022 - £2,550).
14
Average number of employees
During the year the average number of employees was 7 (2022: 7).