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Registration number: 05514130

Kokoon Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Kokoon Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Kokoon Limited

(Registration number: 05514130)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

551,590

587,720

Current assets

 

Stocks

6

26,817

25,540

Debtors

7

560,997

631,486

Cash at bank and in hand

 

757,464

669,283

 

1,345,278

1,326,309

Creditors: Amounts falling due within one year

8

(716,316)

(816,985)

Net current assets

 

628,962

509,324

Total assets less current liabilities

 

1,180,552

1,097,044

Creditors: Amounts falling due after more than one year

8

(338,622)

(475,188)

Provisions for liabilities

(104,802)

(111,667)

Net assets

 

737,128

510,189

Capital and reserves

 

Called up share capital

9

190

190

Retained earnings

736,938

509,999

Shareholders' funds

 

737,128

510,189

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 30 October 2024 and signed on its behalf by:
 

 

Kokoon Limited

(Registration number: 05514130)
Balance Sheet as at 31 January 2024

Mr J H Morris
Director

Mr C Whitaker
Director

Mr B J Cooper
Director

Mr J R Lister
Director

     
 

Kokoon Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit 3 & 4 Newhall Business Park
Newhall Way
Bradford
BD5 8FE

These financial statements were authorised for issue by the Board on 30 October 2024.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Kokoon Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

10% straight line

Plant and machinery

20% straight line

Motor vehicles

25% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Kokoon Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 27 (2023 - 25).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

138,350

122,822

 

Kokoon Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

5

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2023

167,048

341,977

720,925

1,229,950

Additions

5,643

55,000

42,694

103,337

At 31 January 2024

172,691

396,977

763,619

1,333,287

Depreciation

At 1 February 2023

96,918

117,680

427,632

642,230

Charge for the year

15,849

55,859

67,759

139,467

At 31 January 2024

112,767

173,539

495,391

781,697

Carrying amount

At 31 January 2024

59,924

223,438

268,228

551,590

At 31 January 2023

70,130

224,297

293,293

587,720

Included within the net book value of land and buildings above is £59,924 (2023 - £70,130) in respect of short leasehold land and buildings.
 

6

Stocks

2024
£

2023
£

Other inventories

26,817

25,540

7

Debtors

Current

2024
£

2023
£

Trade debtors

384,750

535,801

Prepayments

64,248

50,101

Other debtors

111,999

45,584

 

560,997

631,486

 

Kokoon Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

125,792

125,511

Trade creditors

 

150,474

281,219

Taxation and social security

 

194,698

200,911

Accruals and deferred income

 

121,652

51,697

Other creditors

 

123,700

157,647

 

716,316

816,985

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

170,134

290,000

Other non-current financial liabilities

 

168,488

185,188

 

338,622

475,188

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

190

190

190

190

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

170,134

290,000

 

Kokoon Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Current loans and borrowings

2024
£

2023
£

Bank borrowings

120,000

120,000

Other borrowings

5,792

5,511

125,792

125,511

11

Parent and ultimate parent undertaking

The company's immediate parent is Kokoon Holdings Limited, incorporated in United Kingdom.