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Registered number: 04100224
Different Kettle Limited
Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04100224
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,727 6,164
6,727 6,164
CURRENT ASSETS
Debtors 5 198,508 305,836
Cash at bank and in hand 515,875 347,813
714,383 653,649
Creditors: Amounts Falling Due Within One Year 6 (301,024 ) (279,687 )
NET CURRENT ASSETS (LIABILITIES) 413,359 373,962
TOTAL ASSETS LESS CURRENT LIABILITIES 420,086 380,126
PROVISIONS FOR LIABILITIES
Deferred Taxation (863 ) (1,308 )
NET ASSETS 419,223 378,818
CAPITAL AND RESERVES
Called up share capital 8 900 900
Capital redemption reserve 11,410 11,410
Other reserves 3,635 -
Profit and Loss Account 403,278 366,508
SHAREHOLDERS' FUNDS 419,223 378,818
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Page 2
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss Nicola Lapsley
Director
28 October 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Different Kettle Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04100224 . The registered office is Ground Floor 141 Whiteladies Road, Bristol, BS8 2QB.
The presentation currency of the financial statements is the Pound Sterling (£)
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents the revenue generated from the sale of services. Revenue is measured at the fair value of the consideration received and receivable excluding value added tax.
Revenue from services is recognised when services have been provided and the contractual right to the consideration has been earned. For incomplete contracts an assessment is made of the extent to which revenue has been earned.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation and any accumulated impairment losses
Depreciation is provided at following annual rates in order to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on cost
Fixtures & Fittings 25% on cost
Computer Equipment 25% on cost
2.4. Leasing and Hire Purchase Contracts
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
2.5. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income.
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 that have been enacted or substantively enacted by the balance sheet date.
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.
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2.6. Pensions
The company operates a defined pension contribution scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
The company made contributions to the personal pension schemes of the directors. Contributions paid are charged to profit or loss in the period to which they relate.
2.7. Employee Share Options
The company grants Enterprise Management Incentive employee share options, the fair value of which are recognised within the financial statements according to the vesting period.
2.8. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
The average number of employees, including directors, during the year was 14 (2023: 13)
14 13
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 October 2023 4,409 18,980 23,928 47,317
Additions - - 6,608 6,608
Disposals - (969 ) - (969 )
As at 30 September 2024 4,409 18,011 30,536 52,956
Depreciation
As at 1 October 2023 4,409 18,980 17,764 41,153
Provided during the period - - 6,045 6,045
Disposals - (969 ) - (969 )
As at 30 September 2024 4,409 18,011 23,809 46,229
Net Book Value
As at 30 September 2024 - - 6,727 6,727
As at 1 October 2023 - - 6,164 6,164
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 147,635 201,141
Prepayments and accrued income 37,069 104,695
Value added tax 13,804 -
198,508 305,836
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 163,707 107,719
Corporation tax 35,755 72,470
PAYE and social security 13,318 9,371
Value added tax - 1,196
Credit card - 186
Pensions control 193 3,501
Accrued expenses 25,687 38,502
Director's loan account 62,364 46,742
301,024 279,687
7. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 October 2023 1,308 1,308
Deferred taxation (445 ) (445 )
Balance at 30 September 2024 863 863
The provision for deferred taxation is made up of accelerated capital allowances and timing differences relating to shares issued under an EMI scheme.
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 900 900
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9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 27,437 25,415
Later than one year and not later than five years 67,215 67,215
94,652 92,630
10. Reserves
Included in other reserves is an amount in respect of share options granted during the period. These options, relating to 50 £1 "B" ordinary shares and 50 £1 "C" ordinary shares will be equity settled after a vesting period of thirty six months. The fair value of these shares has been calculated and accrued according the vesting period.
11. Related Party Transactions
During the year, total dividends of £73,000 (2023 - £58,000) were paid to the director.
Miss N J Lapsley, director, controls the company by virtue of her shareholdings.
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