Newbie by KappAhl Limited 10811237 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the sale of baby clothing. Digita Accounts Production Advanced 6.30.9574.0 true true true 10811237 2023-01-01 2023-12-31 10811237 2023-12-31 10811237 core:CurrentFinancialInstruments 2023-12-31 10811237 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 10811237 core:OtherResidualIntangibleAssets 2023-12-31 10811237 core:BetweenTwoFiveYears 2023-12-31 10811237 core:WithinOneYear 2023-12-31 10811237 core:LandBuildings 2023-12-31 10811237 bus:SmallEntities 2023-01-01 2023-12-31 10811237 bus:Audited 2023-01-01 2023-12-31 10811237 bus:FullAccounts 2023-01-01 2023-12-31 10811237 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 10811237 bus:RegisteredOffice 2023-01-01 2023-12-31 10811237 bus:Director6 2023-01-01 2023-12-31 10811237 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10811237 core:IntangibleAssetsOtherThanGoodwill 2023-01-01 2023-12-31 10811237 core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 10811237 core:LandBuildings 2023-01-01 2023-12-31 10811237 core:LeaseholdImprovements 2023-01-01 2023-12-31 10811237 1 2023-01-01 2023-12-31 10811237 countries:EnglandWales 2023-01-01 2023-12-31 10811237 2022-12-31 10811237 core:OtherResidualIntangibleAssets 2022-12-31 10811237 core:LandBuildings 2022-12-31 10811237 2022-01-01 2022-12-31 10811237 2022-12-31 10811237 core:CurrentFinancialInstruments 2022-12-31 10811237 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 10811237 core:OtherResidualIntangibleAssets 2022-12-31 10811237 core:BetweenTwoFiveYears 2022-12-31 10811237 core:WithinOneYear 2022-12-31 10811237 core:LandBuildings 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 10811237

Newbie by KappAhl Limited

Annual Report and Financial Statements

for the Year Ended 31 December 2023

Pages for Filing with Registrar

 

Newbie by KappAhl Limited

(Registration number: 10811237)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

6

-

3,392

Tangible assets

7

271,052

110,885

 

271,052

114,277

Current assets

 

Stock

8

200,757

254,337

Debtors

9

517,197

784,611

Cash at bank and in hand

 

310,119

286,543

 

1,028,073

1,325,491

Creditors: Amounts falling due within one year

10

(824,211)

(1,074,182)

Net current assets

 

203,862

251,309

Total assets less current liabilities

 

474,914

365,586

Provisions for liabilities

(102,769)

(12,741)

Net assets

 

372,145

352,845

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

371,145

351,845

Shareholders' funds

 

372,145

352,845

 

Newbie by KappAhl Limited

(Registration number: 10811237)
Balance Sheet as at 31 December 2023

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 October 2024 and signed on its behalf by:
 

.........................................

L P Andersson
Director

 

Newbie by KappAhl Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Chapel Street
Warwick
Warwickshire
CV34 4HL
United Kingdom

Principal activity

The principal activity of the Company is the sale of baby clothing.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 company is dependent on the support of its parent company to continue as a going concern. Confirmation of this support has been provided and the directors consider it appropriate to prepare the accounts on a going concern basis.

 

Newbie by KappAhl Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Turnover recognition

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

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Government grants

Grants relating to revenue are cognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. A grant that becomes receivable as compensation for expenses or losses already incurred or for the purposes of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.

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 rates prevailing on the initial transaction dates.

Tax

The tax expense for the period comprises current tax 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.

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 income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

Newbie by KappAhl Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the statement of financial position 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

Leasehold improvements

1-10 years straight line

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less accumulated amortisation and accumulated impairment losses. Amortisation is charged to administrative expenses in the Profit and loss account.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website costs

3 year straight line.

Stock

Stock 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.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Newbie by KappAhl Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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.

Provisions

Provisions are recognised when the Company has an obligation at the reporting date as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

Newbie by KappAhl Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 24 October 2024 was David Wheeler, who signed for and on behalf of Bourner Bullock.

4

Significant judgements and estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Directors' opinion the only judgements or key sources of estimation uncertainty relates to amortisation on intangible fixed assets and depreciation on tangible fixed assets.

5

Staff numbers

The average number of persons employed by the Company (including directors) during the year, was 36 (2022 - 34).

 

Newbie by KappAhl Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

6

Intangible assets

Website costs
 £

Total
£

Cost or valuation

At 1 January 2023

147,924

147,924

At 31 December 2023

147,924

147,924

Amortisation

At 1 January 2023

144,532

144,532

Amortisation charge

3,392

3,392

At 31 December 2023

147,924

147,924

Carrying amount

At 31 December 2023

-

-

At 31 December 2022

3,392

3,392

7

Tangible assets

Leasehold properties
£

Total
£

Cost or valuation

At 1 January 2023

871,889

871,889

Additions

202,454

202,454

Disposals

(215,991)

(215,991)

At 31 December 2023

858,352

858,352

Depreciation

At 1 January 2023

761,004

761,004

Charge for the year

42,287

42,287

Eliminated on disposal

(215,991)

(215,991)

At 31 December 2023

587,300

587,300

Carrying amount

At 31 December 2023

271,052

271,052

At 31 December 2022

110,885

110,885

 

Newbie by KappAhl Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

8

Stock

2023
£

2022
£

Finished goods and goods for resale

200,757

254,337

9

Debtors

2023
£

2022
£

Trade debtors

578

8,028

Prepayments

126,188

78,398

Other debtors

390,431

698,185

517,197

784,611

10

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

11

-

316,801

Trade creditors

 

38,315

24,851

Amounts owed to group undertakings

368,814

415,411

Taxation and social security

 

192,523

173,163

Other creditors

 

224,559

143,956

 

824,211

1,074,182

 

Newbie by KappAhl Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

11

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

-

316,801

12

Dividends

There were no dividends paid or proposed in either the current year or the previous year.

13

Operating leases

The total of future minimum lease payments is as follows:

2023
 £

2022
 £

Not later than one year

322,801

236,250

Later than one year and not later than five years

448,648

105,417

771,449

341,667

14

Parent and ultimate parent undertaking

The Company's immediate parent is KappAhl Sverige AB, incorporated in Sweden.

 The most senior parent entity producing publicly available financial statements is KappAhl AB. These financial statements are available upon request from Idrottssvagen 14, Box 303, Se-431 24 Molndal, Sweden.