Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-31Interior Design2022-08-01false77falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08159838 2022-08-01 2023-07-31 08159838 2021-08-01 2022-07-31 08159838 2023-07-31 08159838 2022-07-31 08159838 c:Director1 2022-08-01 2023-07-31 08159838 d:PlantMachinery 2022-08-01 2023-07-31 08159838 d:PlantMachinery 2023-07-31 08159838 d:PlantMachinery 2022-07-31 08159838 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 08159838 d:OfficeEquipment 2022-08-01 2023-07-31 08159838 d:OfficeEquipment 2023-07-31 08159838 d:OfficeEquipment 2022-07-31 08159838 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 08159838 d:ComputerEquipment 2022-08-01 2023-07-31 08159838 d:ComputerEquipment 2023-07-31 08159838 d:ComputerEquipment 2022-07-31 08159838 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 08159838 d:OtherPropertyPlantEquipment 2022-08-01 2023-07-31 08159838 d:OtherPropertyPlantEquipment 2023-07-31 08159838 d:OtherPropertyPlantEquipment 2022-07-31 08159838 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 08159838 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 08159838 d:CurrentFinancialInstruments 2023-07-31 08159838 d:CurrentFinancialInstruments 2022-07-31 08159838 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 08159838 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 08159838 d:ShareCapital 2023-07-31 08159838 d:ShareCapital 2022-07-31 08159838 d:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 08159838 d:RetainedEarningsAccumulatedLosses 2023-07-31 08159838 d:RetainedEarningsAccumulatedLosses 2022-07-31 08159838 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-07-31 08159838 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-07-31 08159838 c:OrdinaryShareClass1 2022-08-01 2023-07-31 08159838 c:OrdinaryShareClass1 2023-07-31 08159838 c:OrdinaryShareClass1 2022-07-31 08159838 c:FRS102 2022-08-01 2023-07-31 08159838 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 08159838 c:FullAccounts 2022-08-01 2023-07-31 08159838 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 08159838 d:WithinOneYear 2023-07-31 08159838 d:WithinOneYear 2022-07-31 08159838 2 2022-08-01 2023-07-31 08159838 e:PoundSterling 2022-08-01 2023-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08159838










RITA KONIG LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
RITA KONIG LIMITED
 

CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 11


 
RITA KONIG LIMITED
REGISTERED NUMBER: 08159838

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
7,470
8,358

  
7,470
8,358

Current assets
  

Stocks
 5 
95,546
71,269

Debtors: amounts falling due within one year
 6 
238,304
151,677

Current asset investments
 7 
352,380
379,217

Cash at bank and in hand
 8 
1,571,273
1,256,220

  
2,257,503
1,858,383

Creditors: amounts falling due within one year
 9 
(1,500,303)
(1,417,344)

Net current assets
  
 
 
757,200
 
 
441,039

Total assets less current liabilities
  
764,670
449,397

  

Net assets
  
764,670
449,397


Capital and reserves
  

Called up share capital 
 11 
1
1

Profit and loss account
 12 
764,669
449,396

  
764,670
449,397


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 her 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 comprehensive income 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 on 28 March 2024.




Henrietta De Chappuis Konig
Page 1

 
RITA KONIG LIMITED
REGISTERED NUMBER: 08159838

BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
RITA KONIG LIMITED
 

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

1.


General information

Rita Konig Limited is a private company limited by shares incorporated in England and Wales under company registration number 08159838.  
The registered office is 180 Great Portland Street, London, W1W 5QZ.  
The principal acitivity of the company continued to be that of interior design services.

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

Going concern

The financial statements have been prepared using going concern basis.

 
2.3

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.

Page 3

 
RITA KONIG LIMITED
 

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

2.Accounting policies (continued)

 
2.4

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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
RITA KONIG LIMITED
 

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

2.Accounting policies (continued)

 
2.8

Taxation

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.

 
2.9

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, as follows:.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Straight Line
Office equipment
-
25%
Reducing balance
Computer equipment
-
25%
Reducing balance
Other fixed assets
-
33%
Straight Line

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.

 
2.10

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 balance sheet 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.

 
2.11

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.

 
2.12

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.

Page 5

 
RITA KONIG LIMITED
 

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

2.Accounting policies (continued)

 
2.13

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.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet 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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Page 6

 
RITA KONIG LIMITED
 

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

2.Accounting policies (continued)


2.14
Financial instruments (continued)

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.15

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.

Page 7

 
RITA KONIG LIMITED
 

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

3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 7).


4.


Tangible fixed assets





Plant and machinery
Office equipment
Computer equipment
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 August 2022
4,979
13,064
12,941
19,822
50,806


Additions
-
-
1,442
-
1,442



At 31 July 2023

4,979
13,064
14,383
19,822
52,248



Depreciation


At 1 August 2022
4,979
9,034
8,613
19,822
42,448


Charge for the year on owned assets
-
1,008
1,322
-
2,330



At 31 July 2023

4,979
10,042
9,935
19,822
44,778



Net book value



At 31 July 2023
-
3,022
4,448
-
7,470



At 31 July 2022
-
4,030
4,328
-
8,358


5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
95,546
71,269

95,546
71,269



6.


Debtors

2023
2022
£
£


Trade debtors
66,742
18,581

Other debtors
132,317
102,641

Prepayments and accrued income
39,245
30,455
Page 8

 
RITA KONIG LIMITED
 

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

6.Debtors (continued)


238,304
151,677



7.


Current asset investments

2023
2022
£
£

Listed investments
352,380
379,217

352,380
379,217



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,571,273
1,256,220

1,571,273
1,256,220



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
121,074
82,580

Corporation tax
111,629
104,667

Other taxation and social security
27,681
52,562

Other creditors
392,428
408,279

Accruals and deferred income
847,491
769,256

1,500,303
1,417,344


2023
2022
£
£

Other taxation and social security

PAYE/NI control
10,320
6,327

Form C.T.61 taxes
17,362
11,416

VAT control
-
34,819

27,682
52,562


Page 9

 
RITA KONIG LIMITED
 

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

10.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
706,770
1,256,220




Financial assets measured at fair value through profit or loss comprise cash or cash equivalents.

Page 10

 
RITA KONIG LIMITED
 

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

11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



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



12.


Reserves

Profit and loss account

The profit and loss account is a fully distributable reserve and includes all current and prior year retained profits and losses.


13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £5,552 (2022 - £44,987). Contributions totalling £1,796 (2022 - £986) were payable to the fund at the balance sheet date and are included in creditors.


14.


Commitments under operating leases

At 31 July 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
36,000
-

36,000
-


Page 11