Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31true22022-11-01falseNo description of principal activity2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04578620 2022-11-01 2023-10-31 04578620 2021-11-01 2022-10-31 04578620 2023-10-31 04578620 2022-10-31 04578620 c:Director1 2022-11-01 2023-10-31 04578620 c:Director2 2022-11-01 2023-10-31 04578620 d:PlantMachinery 2022-11-01 2023-10-31 04578620 d:PlantMachinery 2023-10-31 04578620 d:PlantMachinery 2022-10-31 04578620 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 04578620 d:MotorVehicles 2022-11-01 2023-10-31 04578620 d:MotorVehicles 2023-10-31 04578620 d:MotorVehicles 2022-10-31 04578620 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 04578620 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 04578620 d:CurrentFinancialInstruments 2023-10-31 04578620 d:CurrentFinancialInstruments 2022-10-31 04578620 d:Non-currentFinancialInstruments 2023-10-31 04578620 d:Non-currentFinancialInstruments 2022-10-31 04578620 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 04578620 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 04578620 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 04578620 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 04578620 d:ShareCapital 2023-10-31 04578620 d:ShareCapital 2022-10-31 04578620 d:RetainedEarningsAccumulatedLosses 2023-10-31 04578620 d:RetainedEarningsAccumulatedLosses 2022-10-31 04578620 c:FRS102 2022-11-01 2023-10-31 04578620 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 04578620 c:FullAccounts 2022-11-01 2023-10-31 04578620 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 04578620 d:AcceleratedTaxDepreciationDeferredTax 2023-10-31 04578620 d:AcceleratedTaxDepreciationDeferredTax 2022-10-31 04578620 6 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 04578620










JOHN KEMP LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
JOHN KEMP LIMITED
REGISTERED NUMBER:04578620

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
126,599
134,459

Investments
 5 
100
100

  
126,699
134,559

Current assets
  

Stocks
  
1,686,022
1,461,452

Debtors
  
13,642
36,211

Cash at bank and in hand
 6 
650,102
522,136

  
2,349,766
2,019,799

Creditors: amounts falling due within one year
 7 
(822,628)
(546,269)

Net current assets
  
 
 
1,527,138
 
 
1,473,530

Total assets less current liabilities
  
1,653,837
1,608,089

Creditors: amounts falling due after more than one year
 8 
(1,000,000)
(1,000,000)

Provisions for liabilities
  

Deferred tax
 9 
(22,493)
(24,174)

  
 
 
(22,493)
 
 
(24,174)

Net assets
  
631,344
583,915


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
631,342
583,913

  
631,344
583,915


Page 1

 
JOHN KEMP LIMITED
REGISTERED NUMBER:04578620
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2023

The directors consider 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 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 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 income statement 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 Kemp
................................................
J A Kemp
Director
Director


Date: 26 February 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
JOHN KEMP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

John Kemp Limited is a private company limited by shares and incorporated in England and Wales, registration number 04578620. The registered office is King Street House, 15 Upper King Street, Norwich, Norfolk, NR3 1RB. 

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 financial statements are presented in starling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
JOHN KEMP LIMITED
 
 
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 reporting 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 reporting 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 reporting date.

 
2.5

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.

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 & machinery
-
25%
straight line
Motor vehicles
-
25%
reducing balance

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4

 
JOHN KEMP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
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 reporting 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.

 
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

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.

 
2.11

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 reporting 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 Statement of Financial Position.

Page 5

 
JOHN KEMP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.12

Financial instruments

Financial instruments are recognised in the Company's Statement of Financial Position 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.13

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 6

 
JOHN KEMP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 November 2022
98,761
297,044
395,805


Additions
10,699
14,700
25,399


Disposals
(5,491)
(5,375)
(10,866)



At 31 October 2023

103,969
306,369
410,338



Depreciation


At 1 November 2022
48,818
212,528
261,346


Charge for the year on owned assets
9,527
21,768
31,295


Disposals
(5,491)
(3,411)
(8,902)



At 31 October 2023

52,854
230,885
283,739



Net book value



At 31 October 2023
51,115
75,484
126,599



At 31 October 2022
49,943
84,516
134,459


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 November 2022
100



At 31 October 2023
100




Page 7

 
JOHN KEMP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
650,102
522,136

650,102
522,136



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
51,511
82,336

Amounts owed to group undertakings
639,611
287,431

Corporation tax
87,953
79,180

Other taxation and social security
31,014
63,916

Accruals and deferred income
12,539
33,406

822,628
546,269



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Amounts owed to group undertakings
1,000,000
1,000,000

1,000,000
1,000,000


The amount owed to group undertakings included above is secured by a fixed and floating charge over the assets of the company.

Page 8

 
JOHN KEMP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

9.


Deferred taxation




2023


£






At beginning of year
(24,174)


Charged to profit or loss
1,681



At end of year
(22,493)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(22,493)
(24,174)

(22,493)
(24,174)


10.


Pension commitments

The company operates a defined contributions scheme. The assets of the scheme are held separately from those of the company in an independantly administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £48,000 (2022 - £48,000).


11.


Related party transactions

The Company has taken advantage of the exemption in Section 33 of Financial Reporting Standard 102 from the requirement to disclose transactions with wholly owned companies within the group.


12.


Controlling party

The controlling party is John Kemp Holdings Limited by way of owning 100% of the issued share capital. The company is under ultimate control of its Directors, J S Kemp and J A Kemp.

 
Page 9