Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30No description of principal activity2022-12-01false22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02605093 2022-12-01 2023-11-30 02605093 2021-12-01 2022-11-30 02605093 2023-11-30 02605093 2022-11-30 02605093 c:Director1 2022-12-01 2023-11-30 02605093 d:PlantMachinery 2022-12-01 2023-11-30 02605093 d:PlantMachinery 2023-11-30 02605093 d:PlantMachinery 2022-11-30 02605093 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 02605093 d:MotorVehicles 2022-12-01 2023-11-30 02605093 d:MotorVehicles 2023-11-30 02605093 d:MotorVehicles 2022-11-30 02605093 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 02605093 d:FurnitureFittings 2022-12-01 2023-11-30 02605093 d:FurnitureFittings 2023-11-30 02605093 d:FurnitureFittings 2022-11-30 02605093 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 02605093 d:ComputerEquipment 2022-12-01 2023-11-30 02605093 d:ComputerEquipment 2023-11-30 02605093 d:ComputerEquipment 2022-11-30 02605093 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 02605093 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 02605093 d:CurrentFinancialInstruments 2023-11-30 02605093 d:CurrentFinancialInstruments 2022-11-30 02605093 d:CurrentFinancialInstruments 1 2023-11-30 02605093 d:CurrentFinancialInstruments 1 2022-11-30 02605093 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 02605093 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 02605093 d:ShareCapital 2023-11-30 02605093 d:ShareCapital 2022-11-30 02605093 d:RetainedEarningsAccumulatedLosses 2023-11-30 02605093 d:RetainedEarningsAccumulatedLosses 2022-11-30 02605093 c:OrdinaryShareClass1 2022-12-01 2023-11-30 02605093 c:OrdinaryShareClass1 2023-11-30 02605093 c:OrdinaryShareClass1 2022-11-30 02605093 c:FRS102 2022-12-01 2023-11-30 02605093 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 02605093 c:FullAccounts 2022-12-01 2023-11-30 02605093 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 02605093 f:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 02605093














KEEN MEADOWS FOODS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 NOVEMBER 2023

 
KEEN MEADOWS FOODS LIMITED
REGISTERED NUMBER: 02605093

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
                                                                      Note

Fixed assets
  

Tangible assets
 4 
163,147
181,065

 
Current assets
  

Stocks
 5 
253,406
287,584

Debtors: amounts falling due within one year
 6 
2,273,876
2,279,705

Cash at bank and in hand
  
221,297
200,443

Current liabilities
  
2,748,579
2,767,732

Creditors: amounts falling due within one year
 7 
(1,370,359)
(1,415,959)

Net current assets
  
 
 
1,378,220
 
 
1,351,773

Net assets
  
£1,541,367
£1,532,838


Capital and reserves
  

Called up share capital 
 8 
10,000
10,000

Profit and loss account
  
1,531,367
1,522,838

  
£1,541,367
£1,532,838


The directors consider 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 directors acknowledge their 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 income and retained earnings 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 29 August 2024.


................................................
Mr W H Veldhoen
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
KEEN MEADOWS FOODS LIMITED
 

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

1.


General information

Keen Meadows Foods Limited is a private company limited by shares, incorporated in England and Wales.
The registered number is 02605093.
The registered office is Henwood House, Henwood, Ashford, Kent, TN24 8DH.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

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.

The amounts presented in the acccounts are rounded to the nearest whole GBP (£)..

 
2.3

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.

Page 2

 
KEEN MEADOWS FOODS LIMITED
 

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

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

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, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
Motor vehicles
-
25%
Fixtures and fittings
-
15%
Computer equipment
-
25%

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.

 
2.7

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.

Page 3

 
KEEN MEADOWS FOODS LIMITED
 

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

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

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.

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 4

 
KEEN MEADOWS FOODS LIMITED
 

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

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total



Cost or valuation


At 1 December 2022
-
133,524
68,408
11,251
213,183


Additions
24,295
6,408
-
-
30,703



At 30 November 2023

24,295
139,932
68,408
11,251
243,886



Depreciation


At 1 December 2022
-
19,472
4,276
8,370
32,118


Charge for the year on owned assets
2,430
34,716
10,261
1,214
48,621



At 30 November 2023

2,430
54,188
14,537
9,584
80,739



Net book value



At 30 November 2023
£21,865
£85,744
£53,871
£1,667
£163,147



At 30 November 2022
£-
£114,052
£64,132
£2,881
£181,065


5.


Stocks

2023
2022

Raw materials and consumables
253,406
287,584

£253,406
£287,584



6.


Debtors

2023
2022


Trade debtors
1,670,730
1,660,659

Amounts owed by group undertakings
584,271
595,690

Other debtors
7,600
7,309

Prepayments and accrued income
11,275
16,047

£2,273,876
£2,279,705


Page 5

 
KEEN MEADOWS FOODS LIMITED
 

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

7.


Creditors: Amounts falling due within one year

2023
2022

Trade creditors
1,127,478
976,789

Corporation tax
151,562
125,881

Other taxation and social security
-
450

Proceeds of factored debts
221
273,369

Other creditors
14,686
9,844

Accruals and deferred income
76,412
29,626

£1,370,359
£1,415,959


The proceeds of factored debts are secured by RBS Invoice Finance Ltd by way of a fixed and floating charge over all of the assets of the company.


8.


Share capital

2023
2022
Allotted, called up and fully paid



10,000 (2020: 10,000) Ordinary shares of £1.00 each
£10,000
£10,000



9.


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 to the fund by the Company and amounted to £24,623 (2022: £32,223). Contributions totalling £Nil (2022: £Nil) were payable to the fund at the balance sheet date and are included in creditors.


10.
Ultimate parent undertaking and controlling party

The immediate parent undertaking is Keen Meadows Limited, a company incorporated in England and Wales. 
The ultimate parent undertaking and controlling party is Henwood Thirty Three Limited, a company incorporated in England Wales. The registered office of the company is Henwood House, Henwood, Ashford, Kent, TN24 8DH.
The company is exempt from the requirement of preparing consolidated financial statements as it is a subsidiary undertaking of a small group under section 383 of the Companies Act 2006.


Page 6