Registered number
09130210
Kog Audio Ltd
Filleted Accounts
31 July 2023
Kog Audio Ltd
Registered number: 09130210
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 21,050 23,310
Current assets
Stocks 79,928 91,243
Debtors 5 97,501 172,656
Cash at bank and in hand 155,635 157,426
333,064 421,325
Creditors: amounts falling due within one year 6 (66,835) (118,153)
Net current assets 266,229 303,172
Net assets 287,279 326,482
Capital and reserves
Called up share capital 2 2
Profit and loss account 287,277 326,480
Shareholder's funds 287,279 326,482
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mark Standbridge
Director
Approved by the board on 15 April 2024
Kog Audio Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 33.33% straight line
Stocks
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items.
Foreign currency translation
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill: Cost
At 1 August 2022 370,440
At 31 July 2023 370,440
Goodwill: Amortisation
At 1 August 2022 370,440
At 31 July 2023 370,440
Goodwill: Net book value
At 31 July 2023 -
Goodwill was written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets £
Plant and machinery
Cost
At 1 August 2022 145,382
Additions 20,303
Disposals (3,229)
At 31 July 2023 162,456
Depreciation
At 1 August 2022 122,072
Charge for the year 22,563
On disposals (3,229)
At 31 July 2023 141,406
Net book value
At 31 July 2023 21,050
At 31 July 2022 23,310
5 Debtors 2023 2022
£ £
Trade debtors 93,148 171,144
Other debtors and prepayments 4,353 1,512
97,501 172,656
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 21,856 46,537
Corporation tax 3,586 18,960
Other taxes and social security costs 28,155 46,332
Director's account: Mark Standbridge 8,014 2,558
Accruals 2,578 2,478
Other creditors 2,646 1,288
66,835 118,153
7 Controlling party
The controlling party of the company is the director Mark Standbridge by virtue of his 100% shareholding.
8 Other information
Kog Audio Ltd is a private company limited by shares and incorporated in England. Its registered office is 10 Wellington Street, Cambridge, CB1 1HW.
9 Directors' benefits: advances, credits and guarantees
Creditors includes a loan from the director Mark Standbridge to the company of £8,014 (2022 £2,558). During the for the year ended 31 July 2023 the company paid rent to Mark Standbridge of £2,300 (2022 £2,300) for use of equipment storage space at his home.
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