Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01falseNo description of principal activity1620true 03035819 2023-01-01 2023-12-31 03035819 2022-01-01 2022-12-31 03035819 2023-12-31 03035819 2022-12-31 03035819 c:Director1 2023-01-01 2023-12-31 03035819 c:Director2 2023-01-01 2023-12-31 03035819 c:Director2 2023-12-31 03035819 c:RegisteredOffice 2023-01-01 2023-12-31 03035819 d:PlantMachinery 2023-01-01 2023-12-31 03035819 d:FurnitureFittings 2023-01-01 2023-12-31 03035819 d:FurnitureFittings 2023-12-31 03035819 d:FurnitureFittings 2022-12-31 03035819 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03035819 d:OfficeEquipment 2023-01-01 2023-12-31 03035819 d:OfficeEquipment 2023-12-31 03035819 d:OfficeEquipment 2022-12-31 03035819 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03035819 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03035819 d:CurrentFinancialInstruments 2023-12-31 03035819 d:CurrentFinancialInstruments 2022-12-31 03035819 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03035819 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03035819 d:ShareCapital 2023-12-31 03035819 d:ShareCapital 2022-12-31 03035819 d:RetainedEarningsAccumulatedLosses 2023-12-31 03035819 d:RetainedEarningsAccumulatedLosses 2022-12-31 03035819 c:FRS102 2023-01-01 2023-12-31 03035819 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03035819 c:FullAccounts 2023-01-01 2023-12-31 03035819 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03035819 2 2023-01-01 2023-12-31 03035819 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 03035819 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 03035819










KCA INTERNATIONAL DESIGNERS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
KCA INTERNATIONAL DESIGNERS LIMITED
 
 
COMPANY INFORMATION


Directors
G Chew 
K Hodgson-Foulis (appointed 12 June 2024)




Registered number
03035819



Registered office
89 Spa Road

London

SE16 3SG




Accountants
Greenback Alan LLP
Chartered Accountants

89 Spa Road

London

SE16 3SG





 
KCA INTERNATIONAL DESIGNERS LIMITED
REGISTERED NUMBER: 03035819

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
11,460
10,355

  
11,460
10,355

Current assets
  

Debtors: amounts falling due within one year
 5 
899,138
725,529

Cash at bank and in hand
 6 
73,606
914

  
972,744
726,443

Creditors: amounts falling due within one year
 7 
(1,616,203)
(1,365,231)

Net current liabilities
  
 
 
(643,459)
 
 
(638,788)

Total assets less current liabilities
  
(631,999)
(628,433)

Provisions for liabilities
  

Deferred tax
 8 
(1,576)
(1,218)

  
 
 
(1,576)
 
 
(1,218)

Net liabilities
  
(633,575)
(629,651)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(633,577)
(629,653)

  
(633,575)
(629,651)


Page 1

 
KCA INTERNATIONAL DESIGNERS LIMITED
REGISTERED NUMBER: 03035819
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

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 comprehensive income 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 6 August 2024.




G Chew
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
KCA INTERNATIONAL DESIGNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

KCA International Designers Limited is a private compay limited by shares, incorporated in the United Kingdom and registered in England and Wales. Its principal place of business is at 1-3 Brixton Road, London, SW9 6DE and the registered office is 89 Spa Road, London, SE16 3SG.  

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

Although the company has net liabilities of £633,575 at the balance sheet date the director considers the company a going concern due to the continuing support of associated companies.

 
2.3

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
KCA INTERNATIONAL DESIGNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
KCA INTERNATIONAL DESIGNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.11

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.

Page 5

 
KCA INTERNATIONAL DESIGNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Fixtures and fittings
-
25%
Office 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.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
KCA INTERNATIONAL DESIGNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.16

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of financial position 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.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 7

 
KCA INTERNATIONAL DESIGNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2022 - 20).


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
76,637
455,601
532,238


Additions
-
3,693
3,693



At 31 December 2023

76,637
459,294
535,931



Depreciation


At 1 January 2023
75,820
446,063
521,883


Charge for the year on owned assets
204
2,384
2,588



At 31 December 2023

76,024
448,447
524,471



Net book value



At 31 December 2023
613
10,847
11,460



At 31 December 2022
817
9,538
10,355

Page 8

 
KCA INTERNATIONAL DESIGNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
794,643
667,747

Other debtors
64,028
57,782

Prepayments and accrued income
40,467
-

899,138
725,529



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
73,606
914

Less: bank overdrafts
(9,539)
(105,275)

64,067
(104,361)



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
9,539
105,275

Bank loans
-
55,797

Trade creditors
696,584
542,634

Other taxation and social security
95,310
58,477

Other creditors
810,770
599,048

Accruals and deferred income
4,000
4,000

1,616,203
1,365,231


Page 9

 
KCA INTERNATIONAL DESIGNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Deferred taxation




2023


£






At beginning of year
(1,218)


Charged to profit or loss
(358)



At end of year
(1,576)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(1,576)
(1,218)

(1,576)
(1,218)


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 by the company to the fund and amounted to £12,902 (2022: £16,989). Contributions totalling £5,482 (31 December 2022: £4,601) were payable to the fund at the reporting date.


10.


Related party transactions

Included within other creditors is an amount of £489,796 (31 December 2022: £418,251) due to Khuan Chew & Associates International Limited (Dubai), and £nil (31 December 2022: £10,400) due to Khuan Chew & Associates (Hong Kong), companies in which the director has a controlling interest.
Included within trade creditors is £450,169 (31 December 2022: £431,249) due to Khuan Chew & Associates International Limited (Dubai).
Included within other creditors is £281,125 owed to (31 December 2022: £119,495) the director Ms G K Chew.
Included within trade debtors is £174,919 (31 December 2022: £157,439) due from Khuan Chew & Associates International Limited (Dubai).


11.


Controlling party

Director Ms G K Chew is the company's controlling party by virtue of her shareholding.

 
Page 10