Company registration number 08243118 (England and Wales)
KATE COSTELLO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
KATE COSTELLO LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
KATE COSTELLO LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2024
28 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,687
4,669
Investments
5
-
0
300,842
2,687
305,511
Current assets
Debtors
6
2,274
32,302
Cash at bank and in hand
2,735,132
1,550,298
2,737,406
1,582,600
Creditors: amounts falling due within one year
7
(875,563)
(190,618)
Net current assets
1,861,843
1,391,982
Total assets less current liabilities
1,864,530
1,697,493
Provisions for liabilities
(672)
(1,167)
Net assets
1,863,858
1,696,326
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,863,758
1,696,226
Total equity
1,863,858
1,696,326

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 21 October 2024
Ms K Atkinson
Director
Company Registration No. 08243118
KATE COSTELLO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 2 -
1
Accounting policies
Company information

Kate Costello Limited is a private company limited by shares incorporated in England and Wales. The registered office is 27 Mortimer Street, London, W1T 3BL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

 

1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

KATE COSTELLO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
KATE COSTELLO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 4 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023
26,189
Additions
1,758
At 28 February 2024
27,947
Depreciation and impairment
At 1 March 2023
21,520
Depreciation charged in the year
3,740
At 28 February 2024
25,260
Carrying amount
At 28 February 2024
2,687
At 28 February 2023
4,669
5
Fixed asset investments
2024
2023
£
£
Other investments other than loans
-
0
300,842
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 March 2023
300,842
Additions
100,000
Income from investments held
5,267
Loss on disposal
(48,675)
Disposals
(357,434)
At 28 February 2024
-
Carrying amount
At 28 February 2024
-
At 28 February 2023
300,842
KATE COSTELLO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 5 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
2,274
32,302
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
2,935
Taxation and social security
371,284
170,261
Other creditors
504,279
17,422
875,563
190,618
2024-02-282023-03-01false21 October 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityMs K AtkinsonBLG Registrars Ltdfalsefalse082431182023-03-012024-02-28082431182024-02-28082431182023-02-2808243118core:OtherPropertyPlantEquipment2024-02-2808243118core:OtherPropertyPlantEquipment2023-02-2808243118core:CurrentFinancialInstruments2024-02-2808243118core:CurrentFinancialInstruments2023-02-2808243118core:ShareCapital2024-02-2808243118core:ShareCapital2023-02-2808243118core:RetainedEarningsAccumulatedLosses2024-02-2808243118core:RetainedEarningsAccumulatedLosses2023-02-2808243118bus:Director12023-03-012024-02-2808243118core:FurnitureFittings2023-03-012024-02-28082431182022-03-012023-02-2808243118core:OtherPropertyPlantEquipment2023-02-2808243118core:OtherPropertyPlantEquipment2023-03-012024-02-2808243118core:WithinOneYear2024-02-2808243118core:WithinOneYear2023-02-2808243118bus:PrivateLimitedCompanyLtd2023-03-012024-02-2808243118bus:SmallCompaniesRegimeForAccounts2023-03-012024-02-2808243118bus:FRS1022023-03-012024-02-2808243118bus:AuditExemptWithAccountantsReport2023-03-012024-02-2808243118bus:CompanySecretary12023-03-012024-02-2808243118bus:FullAccounts2023-03-012024-02-28xbrli:purexbrli:sharesiso4217:GBP