Caseware UK (AP4) 2023.0.135 2023.0.135 The financial statements are presented in Sterling (£). The Company's functional and presentational currency is GBP.Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.Saint Killian Candles (UK) Limited regularly trades with related companies. The following amounts are receivable/(payable) at the year end: Saint Killian Candles (UK) Limited has availed of the exemption under FRS102 section 33 whereby disclosure need not be given of transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member. No other transactions with related parties were undertaken such as are required to be disclosed under FRS 102 section 33.trueOther retail sale not in stores, stalls or marketsThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01false22truetrue 10432685 2023-01-01 2023-12-31 10432685 2022-01-01 2022-12-31 10432685 2023-12-31 10432685 2022-12-31 10432685 1 2023-01-01 2023-12-31 10432685 d:CompanySecretary1 2023-01-01 2023-12-31 10432685 d:Director1 2023-01-01 2023-12-31 10432685 d:Director2 2023-01-01 2023-12-31 10432685 d:RegisteredOffice 2023-01-01 2023-12-31 10432685 d:Agent1 2023-01-01 2023-12-31 10432685 c:PlantMachinery 2023-01-01 2023-12-31 10432685 c:PlantMachinery 2023-12-31 10432685 c:PlantMachinery 2022-12-31 10432685 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10432685 c:MotorVehicles 2023-01-01 2023-12-31 10432685 c:MotorVehicles 2023-12-31 10432685 c:MotorVehicles 2022-12-31 10432685 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10432685 c:FurnitureFittings 2023-01-01 2023-12-31 10432685 c:FurnitureFittings 2023-12-31 10432685 c:FurnitureFittings 2022-12-31 10432685 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10432685 c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10432685 c:CurrentFinancialInstruments 2023-12-31 10432685 c:CurrentFinancialInstruments 2022-12-31 10432685 c:Non-currentFinancialInstruments 2023-12-31 10432685 c:Non-currentFinancialInstruments 2022-12-31 10432685 c:ShareCapital 2023-01-01 2023-12-31 10432685 c:ShareCapital 2023-12-31 10432685 c:ShareCapital 2022-12-31 10432685 c:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 10432685 c:RetainedEarningsAccumulatedLosses 2023-12-31 10432685 c:RetainedEarningsAccumulatedLosses 2022-12-31 10432685 d:OrdinaryShareClass1 2023-01-01 2023-12-31 10432685 d:OrdinaryShareClass1 2022-01-01 2022-12-31 10432685 d:OrdinaryShareClass1 2023-12-31 10432685 d:OrdinaryShareClass1 2022-12-31 10432685 d:FRS102 2023-01-01 2023-12-31 10432685 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10432685 d:FullAccounts 2023-01-01 2023-12-31 10432685 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10432685 c:EntityControlledByKeyManagementPersonnel1 2023-01-01 2023-12-31 10432685 c:EntityControlledByKeyManagementPersonnel1 2023-12-31 10432685 c:EntityControlledByKeyManagementPersonnel1 2022-12-31 10432685 c:EntityControlledByKeyManagementPersonnel2 2023-01-01 2023-12-31 10432685 c:EntityControlledByKeyManagementPersonnel2 2023-12-31 10432685 c:EntityControlledByKeyManagementPersonnel2 2022-12-31 10432685 c:EntityControlledByKeyManagementPersonnel3 2023-01-01 2023-12-31 10432685 c:EntityControlledByKeyManagementPersonnel3 2023-12-31 10432685 c:EntityControlledByKeyManagementPersonnel3 2022-12-31 10432685 c:HirePurchaseContracts c:WithinOneYear 2023-12-31 10432685 c:HirePurchaseContracts c:WithinOneYear 2022-12-31 10432685 c:HirePurchaseContracts c:BetweenOneFiveYears 2023-12-31 10432685 c:HirePurchaseContracts c:BetweenOneFiveYears 2022-12-31 10432685 c:MotorVehicles c:LeasedAssetsHeldAsLessee 2023-12-31 10432685 c:MotorVehicles c:LeasedAssetsHeldAsLessee 2022-12-31 10432685 c:LeasedAssetsHeldAsLessee 2023-12-31 10432685 c:LeasedAssetsHeldAsLessee 2022-12-31 10432685 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

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Financial Statements
Saint Killian Candles (UK) Limited
For the financial year ended 31 December 2023





































Registered number: 10432685

 
Saint Killian Candles (UK) Limited
 

Company Information


Directors
Michael Barrett 
Michael Murphy 




Company secretary
Lauren Gazely



Registered number
10432685



Registered office
124 City Road

London

England

EC1V 2NX




Accountants
Grant Thornton Business Advisory Services Limited
Chartered Accountants

Mill House

Henry Street

Limerick




Bankers
Bank of Ireland
7 Townhall Street

Enniskillen

Co. Fermanagh





 
Saint Killian Candles (UK) Limited
 

Contents



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 11


 
Saint Killian Candles (UK) Limited
Registered number:10432685

Balance sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
21,535
9,039

  
21,535
9,039

Current assets
  

Stocks
 6 
146,420
30,364

Debtors: amounts falling due within one year
 7 
128,887
147,847

Cash at bank and in hand
 8 
102,469
108,875

  
377,776
287,086

Creditors: amounts falling due within one year
 9 
(299,763)
(218,788)

Net current assets
  
 
 
78,013
 
 
68,298

Total assets less current liabilities
  
99,548
77,337

Creditors: amounts falling due after more than one year
 10 
-
(3,110)

  

Net assets
  
99,548
74,227


Capital and reserves
  

Called up share capital 
 12 
100
100

Profit and loss account
 13 
99,448
74,127

  
99,548
74,227


Page 1

 
Saint Killian Candles (UK) Limited
Registered number:10432685

Balance sheet (continued)
As at 31 December 2023

The Company's 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 and in accordance with the provisions of FRS102 Section 1A - Small Entities. The Directors have taken advantage of the exemptions contained in s444(1) of the Companies Act 2006 from filing the Director's Report and the profit and loss account.

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give me a true and fair view of the state of affairs of the Company as at 31 December 2023 and for its loss for the year in accordance with the requirements of sections 394 and 395 of the Act and otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 







Michael Murphy
Director

Date: 6 November 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
Saint Killian Candles (UK) Limited
 
 
Notes to the financial statements
For the financial year ended 31 December 2023

1.


General information

Saint Killian Candles (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 124 City Road, London, England, EC1V 2NX.
The company's principal activity during the financial year was the sale of candle burning systems. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The financial statements are presented in Sterling (£).

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
Saint Killian Candles (UK) Limited
 

Notes to the financial statements
For the financial year ended 31 December 2023

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the financial year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 4

 
Saint Killian Candles (UK) Limited
 

Notes to the financial statements
For the financial year ended 31 December 2023

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
33%
Straight line
Motor vehicles
-
33%
Straight line
Fixtures and fittings
-
33%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
Saint Killian Candles (UK) Limited
 

Notes to the financial statements
For the financial year ended 31 December 2023

2.Accounting policies (continued)

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

In the Statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management

 
2.14

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 6

 
Saint Killian Candles (UK) Limited
 
 
Notes to the financial statements
For the financial year ended 31 December 2023

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements that affect the reported amounts of assets and liabilities at the date of financial statements and the reported amount of income and expenses during the reporting period. Management evaluates its judgements on an ongoing basis. 
Management bases its judgements on historical experience on various other factors that are believed to be reasonable under the circumstances. Actual results may differ from these estimates under different assumption or conditions.

Going Concern
After reviewing the company's forecasts and projections, the directors have a reasonable expecatation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Impairment of Trade Debtors
The company trades with a varied number of customers on credit terms. Some debts due will not be  paid
through the default of a small number of customers. The company uses estimates based on historical experience and current8888888888888 information in determining  the  level  of  debts  for  which  an impairment charge is required. The impairment of trade debtors at 31 December 2023 was £3,826 (2022: £1,787). The level of impairment required is reviewed on an ongoing basis. The total amount of trade debtors net of impairment is £106,025 (2022: £127,147).

Impairment of Stocks
The company holds stocks amounting to £146,420 (2022: £30,364) at the financial year end date. Management estimates the net realisable values of inventories, taking into account the most reliable evidence available at each reporting date. The future realisation of these inventories may be affected by future technology or other market driven changes that may reduce future selling prices.





4.


Employees

The average monthly number of employees, including directors, during the financial year was 2 (2022 - 2).

Page 7

 
Saint Killian Candles (UK) Limited
 
 
Notes to the financial statements
For the financial year ended 31 December 2023

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 January 2023
17,794
17,129
3,594
38,517


Additions
16,047
-
5,047
21,094



At 31 December 2023

33,841
17,129
8,641
59,611



Depreciation


At 1 January 2023
17,794
8,090
3,594
29,478


Charge for the financial year on owned assets
1,837
5,711
1,050
8,598



At 31 December 2023

19,631
13,801
4,644
38,076



Net book value



At 31 December 2023
14,210
3,328
3,997
21,535



At 31 December 2022
-
9,039
-
9,039

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
3,328
9,039

3,328
9,039


6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
146,420
30,364

146,420
30,364


Page 8

 
Saint Killian Candles (UK) Limited
 
 
Notes to the financial statements
For the financial year ended 31 December 2023

7.


Debtors

2023
2022
£
£


Trade debtors
106,025
127,147

Amounts owed by group undertakings
-
1,308

Prepayments and accrued income
22,862
19,392

128,887
147,847



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
102,469
108,875

Less: bank overdrafts
(370)
-

102,099
108,875



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
370
-

Trade creditors
13,297
21,048

Amounts owed to group undertakings
214,985
129,468

Amounts owed to related parties
15,212
18,074

Corporation tax
5,906
10,414

Other taxation and social security
39,874
28,392

Obligations under finance lease and hire purchase contracts
3,111
5,333

Other creditors
843
1,815

Accruals and deferred income
6,165
4,244

299,763
218,788


Trade and other creditors are payable at various dates over the coming months in accordance with the suppliers’ usual and customary credit terms. 
Corporation tax and other taxes including social insurance are repayable at various dates over the coming months in accordance with the applicable statutory provisions.

Page 9

 
Saint Killian Candles (UK) Limited
 
 
Notes to the financial statements
For the financial year ended 31 December 2023

10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
-
3,110

-
3,110



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
3,110
5,333

Between 1-5 years
-
3,110

3,110
8,443


12.


Share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



100 (2022 - 100) Ordinary Shares shares of £1.00 each
100
100



13.


Reserves

Share Capital
 
Represents the nominal value of shares that have been issued.

Profit and loss account
 
Includes all current and prior period retained profits and losses.


14.


Capital commitments

There were no capital commitments arising as at the financial period ended 31 December 2023.


15.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £612 (2022 - £Nil).

Page 10

 
Saint Killian Candles (UK) Limited
 
 
Notes to the financial statements
For the financial year ended 31 December 2023

16.


Commitments under operating leases

The Company had no commitments under non-cancellable operating leases at the balance sheet date.


17.


Transactions with directors

As at 31 December 2023, there was an amount owing to Michael Barrett of £835 (31 December 2022: £835) and an amount owing to Michael Murphy of £8 (31 December 2022: £980).


18.


Related party transactions

Saint Killian Candles (UK) Limited regularly trades with related companies. The following amounts are receivable/(payable) at the year end: 


2023
2022
£
£

St. Killian Candle Company Limited
(17,467)
1,308
Smilebrook Limited
(15,212)
(18,074)
SKCC Candle International Limited
(197,518)
(129,468)
(230,197)
(146,234)

Saint Killian Candles (UK) Limited has availed of the exemption under FRS102 section 33 whereby disclosure need not be given of transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.
No other transactions with related parties were undertaken such as are required to be disclosed under FRS 102 section 33.


19.


Post balance sheet events

There were no significant events affecting the company since year end. 


20.


Controlling party

The parent company is Barrum Holdings Limited which is incorporated in the Republic of Ireland. The group does not meet the requirements to prepare consolidated financial statements. The registered office of Barrum Holdings Limited is Cahir Business Park, Cahir, Co. Tipperary. Barrum Holdings Limited is controlled by Michael Barrett and Michael Murphy. 


21.


Comparative information

Comparative information has been reclassified where necessary to conform to current financial year presentation.

Page 11