Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-313truefalseNo description of principal activityfalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.32023-02-01false 12736340 2023-02-01 2024-01-31 12736340 2022-02-01 2023-01-31 12736340 2024-01-31 12736340 2023-01-31 12736340 c:Director2 2023-02-01 2024-01-31 12736340 d:CurrentFinancialInstruments 2024-01-31 12736340 d:CurrentFinancialInstruments 2023-01-31 12736340 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 12736340 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 12736340 d:ShareCapital 2024-01-31 12736340 d:ShareCapital 2023-01-31 12736340 d:RetainedEarningsAccumulatedLosses 2024-01-31 12736340 d:RetainedEarningsAccumulatedLosses 2023-01-31 12736340 c:FRS102 2023-02-01 2024-01-31 12736340 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 12736340 c:FullAccounts 2023-02-01 2024-01-31 12736340 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 12736340 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 12736340









KARM FIELD VIEW LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
KARM FIELD VIEW LTD
REGISTERED NUMBER: 12736340

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
513,081
208,081

Debtors: amounts falling due within one year
 4 
7,811
7,809

Cash at bank and in hand
 5 
5,675
4,210

  
526,567
220,100

Creditors: amounts falling due within one year
 6 
(589,522)
(253,241)

Net current liabilities
  
 
 
(62,955)
 
 
(33,141)

Total assets less current liabilities
  
(62,955)
(33,141)

  

Net liabilities
  
(62,955)
(33,141)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(62,956)
(33,142)

  
(62,955)
(33,141)


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 profit and loss account 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 7 October 2024.




M Keenes
Director
Page 1

 
KARM FIELD VIEW LTD
REGISTERED NUMBER: 12736340
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024


The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
KARM FIELD VIEW LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Karm Field View  Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 12736340. The address of the registered office is 8 Longaford Way, Brentwood, Essex, United Kingdom, CM13 2LT.The principal activity is that of buying and selling of own real estate

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

Going concern

The accounts have been prepared on the basis of going concern as the company director will  continue to support the company and pay liabilities as they fall due. The directors will not draw down on the intercompany loan outstanding totalling £270,659. Due consideration has been given in arriving at this opinion including reviewing projections.prepared for a period of over 12 months from the date of approval of these financial statement.

 
2.3

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.

 
2.4

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.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. 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

 
KARM FIELD VIEW LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

Financial instruments

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.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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.

Page 4

 
KARM FIELD VIEW LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

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.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 5

 
KARM FIELD VIEW LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
7,774
7,774

Called up share capital not paid
1
1

Prepayments and accrued income
36
34

7,811
7,809



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
5,675
4,210

5,675
4,210



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
36
41

Other creditors
587,986
251,760

Accruals and deferred income
1,500
1,440

589,522
253,241



7.


Controlling party

Karm Group Holdings Limited is the ultimate parent company.

 
Page 6