Kayel Brewery Supplies Limited 00894976 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of mechanical engineers Digita Accounts Production Advanced 6.30.9574.0 true 00894976 2023-04-01 2024-03-31 00894976 2024-03-31 00894976 bus:Director1 1 2024-03-31 00894976 bus:Director2 1 2024-03-31 00894976 bus:OrdinaryShareClass1 2024-03-31 00894976 bus:OrdinaryShareClass2 2024-03-31 00894976 core:CurrentFinancialInstruments 2024-03-31 00894976 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 00894976 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 00894976 core:FurnitureFittingsToolsEquipment 2024-03-31 00894976 core:MotorVehicles 2024-03-31 00894976 core:OtherPropertyPlantEquipment 2024-03-31 00894976 bus:SmallEntities 2023-04-01 2024-03-31 00894976 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 00894976 bus:FullAccounts 2023-04-01 2024-03-31 00894976 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 00894976 bus:RegisteredOffice 2023-04-01 2024-03-31 00894976 bus:Director1 2023-04-01 2024-03-31 00894976 bus:Director1 1 2023-04-01 2024-03-31 00894976 bus:Director2 2023-04-01 2024-03-31 00894976 bus:Director2 1 2023-04-01 2024-03-31 00894976 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 00894976 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 00894976 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00894976 bus:Agent1 2023-04-01 2024-03-31 00894976 core:FurnitureFittings 2023-04-01 2024-03-31 00894976 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 00894976 core:MotorVehicles 2023-04-01 2024-03-31 00894976 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 00894976 core:PlantMachinery 2023-04-01 2024-03-31 00894976 core:OtherRelatedParties 2023-04-01 2024-03-31 00894976 countries:EnglandWales 2023-04-01 2024-03-31 00894976 2023-03-31 00894976 bus:Director1 1 2023-03-31 00894976 bus:Director2 1 2023-03-31 00894976 core:FurnitureFittingsToolsEquipment 2023-03-31 00894976 core:MotorVehicles 2023-03-31 00894976 core:OtherPropertyPlantEquipment 2023-03-31 00894976 2022-04-01 2023-03-31 00894976 2023-03-31 00894976 bus:Director1 1 2023-03-31 00894976 bus:Director2 1 2023-03-31 00894976 bus:OrdinaryShareClass1 2023-03-31 00894976 bus:OrdinaryShareClass2 2023-03-31 00894976 core:CurrentFinancialInstruments 2023-03-31 00894976 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 00894976 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 00894976 core:FurnitureFittingsToolsEquipment 2023-03-31 00894976 core:MotorVehicles 2023-03-31 00894976 core:OtherPropertyPlantEquipment 2023-03-31 00894976 bus:Director1 1 2022-04-01 2023-03-31 00894976 bus:Director2 1 2022-04-01 2023-03-31 00894976 bus:Director1 1 2022-03-31 00894976 bus:Director2 1 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 00894976

Kayel Brewery Supplies Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Kayel Brewery Supplies Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4 to 10

 

Kayel Brewery Supplies Limited

Company Information

Directors

Mr M P Laker

Mr G A Laker

Registered office

Unit 14
Lawson Hunt Industrial Park
Broadbridge Heath
Horsham
West Sussex
RH12 3JR

Accountants

Andrews & O'Shea Ltd
Accountants
Optima House
1 Mill Court
Spindle Way
Crawley
West Sussex
RH10 1TT

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Kayel Brewery Supplies Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Kayel Brewery Supplies Limited for the year ended 31 March 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Kayel Brewery Supplies Limited, as a body, in accordance with the terms of our engagement letter dated 12 May 2009. Our work has been undertaken solely to prepare for your approval the accounts of Kayel Brewery Supplies Limited and state those matters that we have agreed to state to the Board of Directors of Kayel Brewery Supplies Limited, as a body, in this report and for no other purpose . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kayel Brewery Supplies Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Kayel Brewery Supplies Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Kayel Brewery Supplies Limited. You consider that Kayel Brewery Supplies Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Kayel Brewery Supplies Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Andrews & O'Shea Ltd
Accountants
Optima House
1 Mill Court
Spindle Way
Crawley
West Sussex
RH10 1TT

7 August 2024

 

Kayel Brewery Supplies Limited

(Registration number: 00894976)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

227

340

Current assets

 

Stocks

6

26,208

33,347

Debtors

7

25,212

37,732

Cash at bank and in hand

 

49,400

45,808

 

100,820

116,887

Creditors: Amounts falling due within one year

8

(24,002)

(15,848)

Net current assets

 

76,818

101,039

Total assets less current liabilities

 

77,045

101,379

Creditors: Amounts falling due after more than one year

8

(28,269)

(33,205)

Net assets

 

48,776

68,174

Capital and reserves

 

Called up share capital

9

80,600

80,600

Capital redemption reserve

20,911

20,911

Retained earnings

(52,735)

(33,337)

Shareholders' funds

 

48,776

68,174

For the financial year ending 31 March 2024 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.

Approved and authorised by the Board on 7 August 2024 and signed on its behalf by:
 

.........................................

Mr G A Laker

Director

 

Kayel Brewery Supplies Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

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:
Unit 14
Lawson Hunt Industrial Park
Broadbridge Heath
Horsham
West Sussex
RH12 3JR

These financial statements were authorised for issue by the Board on 7 August 2024.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

The company has trading losses of £37,510 (2023 - £18,044) to offset against future trading profits.

 

Kayel Brewery Supplies Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% per annum - straight line basis

Fixtures and fittings

20% per annum - straight line basis

Motor vehicles

20% per annum - straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Kayel Brewery Supplies Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

113

113

 

Kayel Brewery Supplies Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

65,975

43,890

114,285

224,150

At 31 March 2024

65,975

43,890

114,285

224,150

Depreciation

At 1 April 2023

65,975

43,890

113,945

223,810

Charge for the year

-

-

113

113

At 31 March 2024

65,975

43,890

114,058

223,923

Carrying amount

At 31 March 2024

-

-

227

227

At 31 March 2023

-

-

340

340

6

Stocks

2024
£

2023
£

Other inventories

26,208

33,347

 

Kayel Brewery Supplies Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

7

debtors

Current

2024
£

2023
£

Trade debtors

23,952

24,955

Prepayments

1,260

1,140

Other debtors

-

11,637

 

25,212

37,732

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

15,800

9,415

Taxation and social security

5,302

3,633

Accruals and deferred income

2,900

2,800

24,002

15,848

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

28,269

33,205

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

72,540

72,540

72,540

72,540

Ordinary A Shares of £1 each

8,060

8,060

8,060

8,060

80,600

80,600

80,600

80,600

 

Kayel Brewery Supplies Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £101,414 (2023 - £115,485). These are the annual commitments under the operating lease, the annual charge is £28,750 (2023 - £25,000).


11

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Repayments by director
£

At 31 March 2024
£

Mr G A Laker

Interest free loan

4,000

(4,000)

-

Mr M P Laker

Interest free loan

4,000

(4,000)

-

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Mr G A Laker

Interest free loan

1,512

4,000

(1,512)

4,000

Mr M P Laker

Interest free loan

1,512

4,000

(1,512)

4,000

 

Kayel Brewery Supplies Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

25,128

23,394

Summary of transactions with other related parties


Kayel Engineering Executive Pension Scheme, of which the directors of the company are also trustees, charges the company market rent of £28,750 (2023 - £25,000) per annum.