1 false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 08996141 2023-01-01 2023-12-31 08996141 2023-12-31 08996141 2022-01-01 2022-12-31 08996141 2022-12-31 08996141 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 08996141 bus:Director1 2023-01-01 2023-12-31 08996141 bus:Director2 2023-01-01 2023-12-31 08996141 core:WithinOneYear 2023-12-31 08996141 core:WithinOneYear 2022-12-31 08996141 core:ShareCapital 2023-12-31 08996141 core:ShareCapital 2022-12-31 08996141 core:RetainedEarningsAccumulatedLosses 2023-12-31 08996141 core:RetainedEarningsAccumulatedLosses 2022-12-31 08996141 bus:SmallEntities 2023-01-01 2023-12-31 08996141 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08996141 bus:FullAccounts 2023-01-01 2023-12-31 08996141 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08996141 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08996141 bus:OrdinaryShareClass1 2023-12-31 08996141 bus:OrdinaryShareClass1 2022-12-31
COMPANY REGISTRATION NUMBER: 08996141
KAPOW COMICS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2023
KAPOW COMICS LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 3
KAPOW COMICS LIMITED
BALANCE SHEET
31 December 2023
2023
2022
Note
£
£
Current assets
Stocks
5
50,000
45,500
Debtors
6
6,169
9,022
Cash at bank and in hand
5,593
3,999
------------
------------
61,762
58,521
Creditors: amounts falling due within one year
7
( 37,542)
( 36,321)
------------
------------
Net current assets
24,220
22,200
------------
------------
Total assets less current liabilities
24,220
22,200
------------
------------
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
24,120
22,100
------------
------------
Shareholders funds
24,220
22,200
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 December 2023 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 7 August 2024 , and are signed on behalf of the board by:
Mr M P Huggett
Mr P H Thornton
Director
Director
Company registration number: 08996141
KAPOW COMICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Greenacre Gate, Lepton, Huddersfield, West Yorkshire, HD8 OLP, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Stocks
2023
2022
£
£
Raw materials and consumables
50,000
45,500
------------
------------
6. Debtors
2023
2022
£
£
Trade debtors
265
Corporation tax repayable
314
Other debtors
5,904
8,708
------------
------------
6,169
9,022
------------
------------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
587
Social security and other taxes
300
316
Director loan accounts
36,655
36,005
------------
------------
37,542
36,321
------------
------------
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
------------
------------
------------
------------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
20,860
------------
------------
10. Related party transactions
Included in creditors are loans of £36,655 (2022: £36,005) owed to the directors. These loans are unsecured, interest free and repayable on demand. The company is controlled by the directors.