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Registration number: 10888546

Kobayashi-Whittaker Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2023

 

Kobayashi-Whittaker Ltd

Contents

Directors' Report

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Kobayashi-Whittaker Ltd

Directors' Report for the Year Ended 31 July 2023

The directors present their report and the financial statements for the year ended 31 July 2023.

Directors of the company

The directors who held office during the year were as follows:

A Dunbar-Whittaker

A Kobayashi

Principal activity

The principal activity of the company is the provision of a mobile coffee retail service, however during the year the company also received income generated from production co-ordination services.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 17 April 2024 and signed on its behalf by:
 

.........................................
A Kobayashi
Director

 

Kobayashi-Whittaker Ltd

(Registration number: 10888546)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

23,811

30,515

Current assets

 

Stocks

6

3,231

1,470

Debtors

7

15,948

33,510

Cash at bank and in hand

 

136,282

143,496

 

155,461

178,476

Creditors: Amounts falling due within one year

8

(32,560)

(45,105)

Net current assets

 

122,901

133,371

Total assets less current liabilities

 

146,712

163,886

Creditors: Amounts falling due after more than one year

8

(12,055)

(18,313)

Provisions for liabilities

(4,525)

(5,798)

Net assets

 

130,132

139,775

Capital and reserves

 

Called up share capital

101

101

Retained earnings

130,031

139,674

Shareholders' funds

 

130,132

139,775

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 April 2024 and signed on its behalf by:
 

 

Kobayashi-Whittaker Ltd

(Registration number: 10888546)
Balance Sheet as at 31 July 2023

.........................................
A Dunbar-Whittaker
Director

 

Kobayashi-Whittaker Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7a King Street
Frome
Somerset
BA11 1BH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities, and is shown net of discounts.

Tax

The tax expense for the period comprises current and deferred tax, and is recognised in profit or loss.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements, and is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

 

Kobayashi-Whittaker Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicle

25% per annum on reducing balance

Equipment

25% per annum on reducing balance

Computer equipment

25% per annum on straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition; it is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation.
Goodwill is amortised over its useful life, which has been estimated at five years.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% per annum on cost

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business, and are recognised initially at the transaction price.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

 

Kobayashi-Whittaker Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 August 2022

10,000

10,000

At 31 July 2023

10,000

10,000

Amortisation

At 1 August 2022

10,000

10,000

At 31 July 2023

10,000

10,000

Net book value

At 31 July 2023

-

-

5

Tangible assets

Equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2022

6,959

43,285

50,244

Additions

1,234

-

1,234

At 31 July 2023

8,193

43,285

51,478

Depreciation

At 1 August 2022

3,203

16,526

19,729

Charge for the year

1,248

6,690

7,938

At 31 July 2023

4,451

23,216

27,667

Net book value

At 31 July 2023

3,742

20,069

23,811

At 31 July 2022

3,756

26,759

30,515

6

Stocks

2023
£

2022
£

Stock

3,231

1,470

 

Kobayashi-Whittaker Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

7

Debtors

2023
£

2022
£

Trade debtors

11,977

23,959

Other debtors

1,821

8,070

Prepayments

2,150

1,481

15,948

33,510

8

Creditors

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

9

5,900

5,500

Trade creditors

 

471

2,580

Taxation and social security

 

10,224

-

Accruals and deferred income

 

2,160

2,002

Other creditors

 

4,595

11,804

Corporation tax

 

9,210

23,219

 

32,560

45,105

Amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

12,055

18,313

 

Kobayashi-Whittaker Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

12,055

18,313

Current loans and borrowings

2023
£

2022
£

Bank borrowings

5,900

5,500