PTP Accounts Production v24.2.0.383 02803383 Board of Directors 1.9.22 31.8.23 31.8.23 The principal activity of the company during the year continued to be that of import and wholesale of wines. true false true true false false true false Ordinary 0.10000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh028033832022-08-31028033832023-08-31028033832022-09-012023-08-31028033832021-08-31028033832021-09-012022-08-31028033832022-08-3102803383ns15:EnglandWales2022-09-012023-08-3102803383ns14:PoundSterling2022-09-012023-08-3102803383ns10:Director12022-09-012023-08-3102803383ns10:PrivateLimitedCompanyLtd2022-09-012023-08-3102803383ns10:FRS1022022-09-012023-08-3102803383ns10:Audited2022-09-012023-08-3102803383ns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2022-09-012023-08-3102803383ns10:LargeMedium-sizedCompaniesRegimeForAccounts2022-09-012023-08-3102803383ns10:FullAccounts2022-09-012023-08-3102803383ns10:OrdinaryShareClass12022-09-012023-08-3102803383ns10:Director22022-09-012023-08-3102803383ns10:Director32022-09-012023-08-3102803383ns10:CompanySecretary12022-09-012023-08-3102803383ns10:RegisteredOffice2022-09-012023-08-3102803383ns5:CurrentFinancialInstruments2023-08-3102803383ns5:CurrentFinancialInstruments2022-08-3102803383ns5:ShareCapital2023-08-3102803383ns5:ShareCapital2022-08-3102803383ns5:RetainedEarningsAccumulatedLosses2023-08-3102803383ns5:RetainedEarningsAccumulatedLosses2022-08-3102803383ns5:ShareCapital2021-08-3102803383ns5:RetainedEarningsAccumulatedLosses2021-08-3102803383ns5:RetainedEarningsAccumulatedLosses2021-09-012022-08-3102803383ns5:RetainedEarningsAccumulatedLosses2022-09-012023-08-3102803383ns5:FurnitureFittings2022-09-012023-08-3102803383ns5:ComputerEquipment2022-09-012023-08-3102803383ns5:OwnedAssets2022-09-012023-08-3102803383ns5:OwnedAssets2021-09-012022-08-3102803383ns10:OrdinaryShareClass12021-09-012022-08-3102803383ns5:LeaseholdImprovements2022-08-3102803383ns5:PlantMachinery2022-08-3102803383ns5:FurnitureFittings2022-08-3102803383ns5:ComputerEquipment2022-08-3102803383ns5:LeaseholdImprovements2022-09-012023-08-3102803383ns5:PlantMachinery2022-09-012023-08-3102803383ns5:LeaseholdImprovements2023-08-3102803383ns5:PlantMachinery2023-08-3102803383ns5:FurnitureFittings2023-08-3102803383ns5:ComputerEquipment2023-08-3102803383ns5:LeaseholdImprovements2022-08-3102803383ns5:PlantMachinery2022-08-3102803383ns5:FurnitureFittings2022-08-3102803383ns5:ComputerEquipment2022-08-3102803383ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-08-3102803383ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-08-3102803383ns10:OrdinaryShareClass12023-08-3102803383ns5:RetainedEarningsAccumulatedLosses2022-08-31
REGISTERED NUMBER: 02803383 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 August 2023

for

Kedem Europe Limited

Kedem Europe Limited (Registered number: 02803383)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 5

Report of the Independent Auditors 6

Income Statement 10

Other Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 13

Cash Flow Statement 14

Notes to the Cash Flow Statement 15

Notes to the Financial Statements 16


Kedem Europe Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: M Halpern
M Herzog
B Stern





SECRETARY: B Stern





REGISTERED OFFICE: 6 Bruce Grove
London
N17 6RA





REGISTERED NUMBER: 02803383 (England and Wales)





AUDITORS: Purcells, Chartered Accountants
4 Quex Road
London
NW6 4PJ

Kedem Europe Limited (Registered number: 02803383)

Strategic Report
for the Year Ended 31 August 2023

The directors present their strategic report for the year ended 31 August 2023.

This report provides a strategic analysis of Kedem Europe, a leading wholesale drinks company. It examines the company's current position, external and internal environments, strategic objectives, and recommended strategies to achieve these objectives.

REVIEW OF BUSINESS
Background: Kedem Europe, founded in 1993, is a leading wholesaler of alcoholic and non-alcoholic beverages. The company prides itself on its extensive product range, competitive pricing, and excellent customer service.

Current Situation: Kedem Europe holds a significant market share in the kosher wholesale drinks industry. In 2023, the company reported revenues of £11,386,041 with a net profit of £1,223,998 before tax. Key products include wines, grape juices and whisky.


Kedem Europe Limited (Registered number: 02803383)

Strategic Report
for the Year Ended 31 August 2023

PRINCIPAL RISKS AND UNCERTAINTIES
1. External Analysis
Political: Regulations around beverage taxes and import tariffs are affecting the cost structure. Government initiatives promoting health could influence sales.

Economic: Economic downturns could affect disposable income, affecting luxury beverage sales. However, essential drink sales remain stable.

Social: Rising health consciousness is driving demand for healthier beverage options, such as low-sugar drinks and organic juices.

Technological: Implementation of a robust sales and accounting systems and introduction to power bi for better reporting and decision-making.

Environmental: Increasing environmental awareness is pushing companies to adopt sustainable practices, such as reducing plastic use and increasing recycling.

Legal: Compliance with safety regulations and labelling laws is essential to avoid legal penalties.

2. Industry Analysis
Competitive Rivalry: High competition from other wholesalers and direct suppliers to retailers.

Threat of New Entrants: Moderate threat due to significant capital requirements and established relationships with suppliers and customers.

Bargaining Power of Suppliers: Moderate, as there are numerous suppliers, but key suppliers of premium products hold more power.

Bargaining Power of Customers: High, especially large retailers and chains that can negotiate lower prices.

Threat of Substitutes: Moderate, with growing popularity of non-traditional beverages like energy drinks and mocktails.

3. Internal Analysis
Strengths:
- Strong brand reputation.
- Extensive product range.
- Established distribution network.

Weaknesses:
- Dependence on key suppliers.
- Limited presence in emerging markets.

Opportunities:
- Expanding product lines.
- Penetrating new geographic markets.

Threats:
- Increasing competition.
- Regulatory and legal challenges.

STRATEGIC OBJECTIVES
Short-term Goals:
- Increase market share by 5% within one year.
- Launch a new line of alcoholic beverage within six months.

Long-term Goals:
- Achieve a 20% revenue growth over the next five years.
- Extend operations into new regions and increase market presence.


Kedem Europe Limited (Registered number: 02803383)

Strategic Report
for the Year Ended 31 August 2023

STRATEGIES
1. Strategy Formulation
Corporate-Level Strategy: Focus on growth through product diversification and geographic expansion.

Business-Level Strategy: Differentiate the product offering by emphasising quality and health benefits.

Functional-Level Strategy:
- Marketing: Invest in digital marketing and social media campaigns to reach a broader audience.
- Operations: Implement advanced management systems to improve efficiency.
- Finance: Allocate budget for staff developments.

2. Implementation Plan
Action Plans:
- Market Share Increase: Partner with retailers for promotional events and discounts.
- Sales and Marketing Strategy: Develop strategies for pricing, promotions, customer acquisition and retention.

Resource Allocation:
- Allocate £2 million for marketing and promotional activities.
- Invest 80k for a robust sales and accounting system.

Timeline:
- Market share initiatives: Ongoing, review quarterly.
- New line launch: Completed within six to nine months.

Responsibilities:
- Sales Manager: Oversee promotional campaigns.
- Operations Manager: Manages day-to-day operations.

3. Monitoring and Evaluation
Key Performance Indicators (KPIs):
- Sales growth rate.
- Market share percentage.
- Customer satisfaction scores.

Monitoring Process:
- Monthly sales reports and market analysis.
- Quarterly review meetings.

Evaluation Methods:
- Compare performance against targets and adjust strategies as needed.
- Conduct customer surveys to gather feedback on new products.

CONCLUSION
Kedem Europe is well positioned to leverage its strengths and capitalise on opportunities in the market. By focusing on product diversification and expanding into new markets, the company can achieve its strategic goals and continue its growth trajectory.

ON BEHALF OF THE BOARD:





M Herzog - Director


19 August 2024

Kedem Europe Limited (Registered number: 02803383)

Report of the Directors
for the Year Ended 31 August 2023

The directors present their report with the financial statements of the company for the year ended 31 August 2023.

DIVIDENDS
No dividends will be distributed for the year ended 31 August 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 September 2022 to the date of this report.

M Halpern
M Herzog
B Stern

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Purcells, Chartered Accountants, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





M Herzog - Director


19 August 2024

Report of the Independent Auditors to the Members of
Kedem Europe Limited

Opinion
We have audited the financial statements of Kedem Europe Limited (the 'company') for the year ended 31 August 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 August 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Kedem Europe Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Kedem Europe Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations - this responsibility lies with management with the oversight of the directors.

• We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience through discussion with management (as required by auditing standards).

• We had regard to laws and regulations in areas that directly affect the financial statements including financial reporting and taxation legislation. We considered that extent of compliance with those laws and regulations as part of our procedures on the related financial statement items.

• Except for any known or possible non-compliance, and as required by auditing standards, our work in respect of these included enquiry of management about company's policies, procedures, and related controls regarding compliance with laws and regulations and if there are any known instances of noncompliance
.
• We tested the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

• We reviewed the minutes of the meetings of the Board of Directors.

• We performed analytical procedures to identify any unusual or unexpected relationships.

• We examined supporting documents for all material balances, transactions and disclosures.

• We evaluated the selection and application of accounting policies related to subjective measurements and complex transactions.

On that basis, we believe that our procedures are effective in detecting irregularities, including fraud.

Owing to the inherent limitations of an audit, there is an unavoidable risk that some material misstatements of the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

The potential effects of inherent limitations are particularly significant in the case of misstatement resulting from fraud because fraud may involve sophisticated and carefully organized schemes designed to conceal it, including deliberate failure to record transactions, collusion or intentional misrepresentations being made to us.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Kedem Europe Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Daniel Zaroovabeli (Senior Statutory Auditor)
for and on behalf of Purcells, Chartered Accountants
4 Quex Road
London
NW6 4PJ

28 August 2024

Kedem Europe Limited (Registered number: 02803383)

Income Statement
for the Year Ended 31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   

TURNOVER 11,386,041 10,464,177

Cost of sales 8,442,476 7,732,680
GROSS PROFIT 2,943,565 2,731,497

Distribution costs 1,213,255 1,115,159
Administrative expenses 509,673 318,054
1,722,928 1,433,213
1,220,637 1,298,284

Other operating income - 8,605
OPERATING PROFIT 4 1,220,637 1,306,889

Interest receivable and similar income 3,361 92
PROFIT BEFORE TAXATION 1,223,998 1,306,981

Tax on profit 5 245,554 248,645
PROFIT FOR THE FINANCIAL YEAR 978,444 1,058,336

Kedem Europe Limited (Registered number: 02803383)

Other Comprehensive Income
for the Year Ended 31 August 2023

31.8.23 31.8.22
Notes £    £   

PROFIT FOR THE YEAR 978,444 1,058,336


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

978,444

1,058,336

Kedem Europe Limited (Registered number: 02803383)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 125,153 19,619

CURRENT ASSETS
Stocks 8 1,937,777 1,744,639
Debtors 9 2,908,008 2,794,508
Cash at bank 2,535,649 2,752,822
7,381,434 7,291,969
CREDITORS
Amounts falling due within one year 10 2,299,621 3,083,066
NET CURRENT ASSETS 5,081,813 4,208,903
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,206,966

4,228,522

CAPITAL AND RESERVES
Called up share capital 11 300 300
Retained earnings 12 5,206,666 4,228,222
SHAREHOLDERS' FUNDS 5,206,966 4,228,522

The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2024 and were signed on its behalf by:





M Herzog - Director


Kedem Europe Limited (Registered number: 02803383)

Statement of Changes in Equity
for the Year Ended 31 August 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 September 2021 300 3,586,874 3,587,174

Changes in equity
Dividends - (416,988 ) (416,988 )
Total comprehensive income - 1,058,336 1,058,336
Balance at 31 August 2022 300 4,228,222 4,228,522

Changes in equity
Total comprehensive income - 978,444 978,444
Balance at 31 August 2023 300 5,206,666 5,206,966

Kedem Europe Limited (Registered number: 02803383)

Cash Flow Statement
for the Year Ended 31 August 2023

31.8.23 31.8.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 49,117 658,019
Tax paid (128,271 ) (648,367 )
Net cash from operating activities (79,154 ) 9,652

Cash flows from investing activities
Purchase of tangible fixed assets (141,380 ) (5,722 )
Interest received 3,361 92
Net cash from investing activities (138,019 ) (5,630 )

Cash flows from financing activities
Amount introduced by directors - 300
Equity dividends paid - (416,988 )
Net cash from financing activities - (416,688 )

Decrease in cash and cash equivalents (217,173 ) (412,666 )
Cash and cash equivalents at beginning of
year

2

2,752,822

3,165,488

Cash and cash equivalents at end of year 2 2,535,649 2,752,822

Kedem Europe Limited (Registered number: 02803383)

Notes to the Cash Flow Statement
for the Year Ended 31 August 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
31.8.23 31.8.22
£    £   
Profit before taxation 1,223,998 1,306,981
Government grants - (8,605 )
Finance income (3,361 ) (92 )
1,220,637 1,298,284
Increase in stocks (193,138 ) (1,004,855 )
Increase in trade and other debtors (122,518 ) (586,554 )
(Decrease)/increase in trade and other creditors (855,864 ) 951,144
Cash generated from operations 49,117 658,019

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 August 2023
31.8.23 1.9.22
£    £   
Cash and cash equivalents 2,535,649 2,752,822
Year ended 31 August 2022
31.8.22 1.9.21
£    £   
Cash and cash equivalents 2,752,822 3,165,488


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.9.22 Cash flow At 31.8.23
£    £    £   
Net cash
Cash at bank 2,752,822 (217,173 ) 2,535,649
2,752,822 (217,173 ) 2,535,649
Total 2,752,822 (217,173 ) 2,535,649

Kedem Europe Limited (Registered number: 02803383)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Kedem Europe Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is based on sales to customers less returns exclusive of value added tax and is represented by one class of business within the U.K.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3. EMPLOYEES AND DIRECTORS
31.8.23 31.8.22
£    £   
Wages and salaries 442,151 424,575

The average number of employees during the year was as follows:
31.8.23 31.8.22

£0 - £50,000 18 18

31.8.23 31.8.22
£    £   
Directors' remuneration 21,066 21,066

4. OPERATING PROFIT

The operating profit is stated after charging:

31.8.23 31.8.22
£    £   
Depreciation - owned assets 35,846 6,541
Auditors' remuneration 12,000 -

Kedem Europe Limited (Registered number: 02803383)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.8.23 31.8.22
£    £   
Current tax:
UK corporation tax 245,554 248,645
Tax on profit 245,554 248,645

6. DIVIDENDS
31.8.23 31.8.22
£    £   
Ordinary shares of 0.10 each
Final - 416,988

7. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 September 2022 - - 109,449 33,051 142,500
Additions 26,418 81,509 13,730 19,723 141,380
At 31 August 2023 26,418 81,509 123,179 52,774 283,880
DEPRECIATION
At 1 September 2022 - - 92,334 30,547 122,881
Charge for year 2,202 20,377 7,711 5,556 35,846
At 31 August 2023 2,202 20,377 100,045 36,103 158,727
NET BOOK VALUE
At 31 August 2023 24,216 61,132 23,134 16,671 125,153
At 31 August 2022 - - 17,115 2,504 19,619

8. STOCKS
31.8.23 31.8.22
£    £   
Stocks 1,937,777 1,744,639

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 2,594,418 1,972,716
Other debtors 294,169 811,503
Prepayments 19,421 10,289
2,908,008 2,794,508

Kedem Europe Limited (Registered number: 02803383)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 1,218,154 1,468,246
Social security and other taxes 420,666 352,719
Other creditors 526,676 1,200,241
Accrued expenses 134,125 61,860
2,299,621 3,083,066

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
3,000 Ordinary 0.10 300 300

12. RESERVES
Retained
earnings
£   

At 1 September 2022 4,228,222
Profit for the year 978,444
At 31 August 2023 5,206,666

13. RELATED PARTY DISCLOSURES

The company is related to Inchcool Limited by a common director. Sales commissions of £168,500 were due to Inchcool Limited on a commercial basis. The balance owed to that company at the balance sheet date was £68,404.