Company registration number 14420682 (England and Wales)
Kazoo Holdings Limited
Unaudited
financial statements
for the period ended 31 December 2023
PAGES FOR FILING WITH REGISTRAR
Kazoo Holdings Limited
Contents
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
Kazoo Holdings Limited
Statement of financial position
as at 31 December 2023
- 1 -
2023
Notes
£
£
Fixed assets
Tangible assets
4
1,444,726
Investment property
5
483,385
1,928,111
Current assets
Debtors
6
40,214
Cash at bank and in hand
1,736,093
1,776,307
Creditors: amounts falling due within one year
7
(1,005,019)
Net current assets
771,288
Total assets less current liabilities
2,699,399
Provisions for liabilities
(220,086)
Net assets
2,479,313
Capital and reserves
Called up share capital
100
Profit and loss reserves
2,479,213
Total equity
2,479,313

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial period ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 17 April 2024 and are signed on its behalf by:
A Thomas
K Thomas
Director
Director
Company registration number 14420682 (England and Wales)
Kazoo Holdings Limited
Statement Of Changes In Equity
for the period ended 31 December 2023
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 14 October 2022
100
-
0
100
Period ended 31 December 2023:
Profit and total comprehensive income
-
2,654,013
2,654,013
Dividends
-
(174,800)
(174,800)
Balance at 31 December 2023
100
2,479,213
2,479,313
Kazoo Holdings Limited
Notes to the financial statements
for the period ended 31 December 2023
- 3 -
1
Accounting policies
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. Turnover is recognised on an accruals basis.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
No depreciation
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Kazoo Holdings Limited
Notes to the financial statements (continued)
for the period ended 31 December 2023
1
Accounting policies
(continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
Number
Total
2
Kazoo Holdings Limited
Notes to the financial statements (continued)
for the period ended 31 December 2023
- 5 -
4
Tangible fixed assets
Freehold land and buildings
Motor vehicles
Total
£
£
£
Cost
At 14 October 2022
-
0
-
0
-
0
Additions
520,156
1,143,321
1,663,477
At 31 December 2023
520,156
1,143,321
1,663,477
Depreciation and impairment
At 14 October 2022
-
0
-
0
-
0
Depreciation charged in the period
-
0
218,751
218,751
At 31 December 2023
-
0
218,751
218,751
Carrying amount
At 31 December 2023
520,156
924,570
1,444,726
5
Investment property
2023
£
Fair value
At 14 October 2022
-
0
Additions
483,385
At 31 December 2023
483,385

Investment property comprises [XXX]. The fair value of the investment property has been arrived at on the basis of a valuation carried out at [XXX] by [XXX] Chartered Surveyors, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

6
Debtors
2023
Amounts falling due within one year:
£
Other debtors
36,588
Prepayments and accrued income
3,626
40,214
Kazoo Holdings Limited
Notes to the financial statements (continued)
for the period ended 31 December 2023
- 6 -
7
Creditors: amounts falling due within one year
2023
£
Trade creditors
300
Amounts owed to group undertakings
992,040
Taxation and social security
11,179
Accruals and deferred income
1,500
1,005,019
8
Company information

Kazoo Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 5 Limeoak Way, Portrack Lane, Stockton, TS18 2LS.

2023-12-312022-10-14false17 April 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityA ThomasK Thomasfalsefalse144206822022-10-142023-12-31144206822023-12-3114420682core:LandBuildingscore:OwnedOrFreeholdAssets2023-12-3114420682core:MotorVehicles2023-12-3114420682core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3114420682core:CurrentFinancialInstruments2023-12-3114420682core:ShareCapital2023-12-3114420682core:RetainedEarningsAccumulatedLosses2023-12-3114420682core:ShareCapital2022-10-1314420682core:RetainedEarningsAccumulatedLosses2022-10-1314420682bus:Director12022-10-142023-12-3114420682bus:Director22022-10-142023-12-3114420682core:RetainedEarningsAccumulatedLosses2022-10-142023-12-3114420682core:LandBuildingscore:OwnedOrFreeholdAssets2022-10-142023-12-3114420682core:MotorVehicles2022-10-142023-12-3114420682core:LandBuildingscore:OwnedOrFreeholdAssets2022-10-1314420682core:MotorVehicles2022-10-13144206822022-10-1314420682bus:PrivateLimitedCompanyLtd2022-10-142023-12-3114420682bus:SmallCompaniesRegimeForAccounts2022-10-142023-12-3114420682bus:FRS1022022-10-142023-12-3114420682bus:AuditExemptWithAccountantsReport2022-10-142023-12-3114420682bus:FullAccounts2022-10-142023-12-31xbrli:purexbrli:sharesiso4217:GBP