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REGISTERED NUMBER: 01159902 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

K.A. DE COBAIN LIMITED

K.A. DE COBAIN LIMITED (REGISTERED NUMBER: 01159902)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


K.A. DE COBAIN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: P E DeCobain
Mrs A DeCobain





SECRETARY: Mrs A DeCobain





REGISTERED OFFICE: 88-90 Boothferry Road
Goole
East Yorkshire
DN14 6AE





REGISTERED NUMBER: 01159902 (England and Wales)






K.A. DE COBAIN LIMITED (REGISTERED NUMBER: 01159902)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,472,452 1,472,452
Tangible assets 5 294,567 337,285
1,767,019 1,809,737

CURRENT ASSETS
Stocks 6 58,186 38,799
Debtors 7 21,791 21,851
Cash at bank and in hand 282,429 260,606
362,406 321,256
CREDITORS
Amounts falling due within one year 8 85,782 50,827
NET CURRENT ASSETS 276,624 270,429
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,043,643

2,080,166

PROVISIONS FOR LIABILITIES 39,510 47,161
NET ASSETS 2,004,133 2,033,005

CAPITAL AND RESERVES
Called up share capital 3,000 3,000
Revaluation reserve 9 16,034 16,034
Retained earnings 1,985,099 2,013,971
SHAREHOLDERS' FUNDS 2,004,133 2,033,005

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

K.A. DE COBAIN LIMITED (REGISTERED NUMBER: 01159902)

BALANCE SHEET - continued
30 NOVEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 August 2024 and were signed on its behalf by:





P E DeCobain - Director


K.A. DE COBAIN LIMITED (REGISTERED NUMBER: 01159902)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

K.a. De Cobain 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Goodwill represents the capitalisation of the intangible benefits of the customer rental asset base of the company which is being written off on a straight line basis over the period of 20 years subject to impairment reviews. The rental asset base of the company was capitalised in 2009.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

An impairment loss has been recognised in the Income Statement, following an assessment at the Balance Sheet date indicating the recoverable amount was less than its carrying value.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Customer rental asset base
The asset base of the company in respect of its rental customers is divided into two distinct elements. The intangible element of the asset base represents the intrinsic value of the customer asset base and the rental income that is derived from this asset base on an ongoing basis over a fixed period of 18 months. The customer rental asset base is reviewed on an annual basis and any adjustment is made through the statement of recognised losses and gains.

The second element of the customer rental asset base is the physical stock of the assets held by the business. This is shown as a current asset within the stock on the balance and written off on a straight line basis over a period of 18 months.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 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.


K.A. DE COBAIN LIMITED (REGISTERED NUMBER: 01159902)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 21,109 1,472,452 1,493,561
AMORTISATION
At 1 December 2022
and 30 November 2023 21,109 - 21,109
NET BOOK VALUE
At 30 November 2023 - 1,472,452 1,472,452
At 30 November 2022 - 1,472,452 1,472,452

K.A. DE COBAIN LIMITED (REGISTERED NUMBER: 01159902)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 December 2022 116,667 671,343 131,341 919,351
Additions - 2,345 - 2,345
At 30 November 2023 116,667 673,688 131,341 921,696
DEPRECIATION
At 1 December 2022 29,555 470,632 81,879 582,066
Charge for year 2,334 30,363 12,366 45,063
At 30 November 2023 31,889 500,995 94,245 627,129
NET BOOK VALUE
At 30 November 2023 84,778 172,693 37,096 294,567
At 30 November 2022 87,112 200,711 49,462 337,285

Cost or valuation at 30 November 2023 is represented by:

Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
Valuation in 2009 48,101 - - 48,101
Valuation in 2012 (32,067 ) - - (32,067 )
Cost 100,633 673,688 131,341 905,662
116,667 673,688 131,341 921,696

6. STOCKS
2023 2022
£    £   
Stocks 43,742 26,880
Stock-rental assets 14,444 11,919
58,186 38,799

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 18,212 18,272
Prepayments 3,579 3,579
21,791 21,851

K.A. DE COBAIN LIMITED (REGISTERED NUMBER: 01159902)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 28,921 8,963
Tax 8,462 4,359
Social security and other taxes 6,178 6,503
VAT 39,105 27,714
Directors' current accounts 61 358
Accrued expenses 3,055 2,930
85,782 50,827

9. RESERVES
Revaluation
reserve
£   
At 1 December 2022
and 30 November 2023 16,034

10. RELATED PARTY DISCLOSURES

During the course of the year the company transacted with the directors Mr P E DeCobain and Mrs A DeCobain by way of a joint directors loan account. The balance owing to the directors at the end of the year was £61. (2022 £358)

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company is Mr P E DeCobain who owns the entire issued share capital and is the managing director of the company.