Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06182155 2023-04-01 2024-03-31 06182155 2022-04-01 2023-03-31 06182155 2024-03-31 06182155 2023-03-31 06182155 c:Director1 2023-04-01 2024-03-31 06182155 d:PlantMachinery 2023-04-01 2024-03-31 06182155 d:PlantMachinery 2024-03-31 06182155 d:PlantMachinery 2023-03-31 06182155 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06182155 d:MotorVehicles 2024-03-31 06182155 d:MotorVehicles 2023-03-31 06182155 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06182155 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06182155 d:Goodwill 2024-03-31 06182155 d:Goodwill 2023-03-31 06182155 d:CurrentFinancialInstruments 2024-03-31 06182155 d:CurrentFinancialInstruments 2023-03-31 06182155 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 06182155 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06182155 d:ShareCapital 2024-03-31 06182155 d:ShareCapital 2023-03-31 06182155 d:RetainedEarningsAccumulatedLosses 2024-03-31 06182155 d:RetainedEarningsAccumulatedLosses 2023-03-31 06182155 c:FRS102 2023-04-01 2024-03-31 06182155 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06182155 c:FullAccounts 2023-04-01 2024-03-31 06182155 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Company registration number: 06182155







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


7KART UK LIMITED






































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7KART UK LIMITED
REGISTERED NUMBER:06182155



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
7,808
10,736

  
7,808
10,736

Current assets
  

Stocks
  
14,200
14,200

Debtors: amounts falling due within one year
 6 
3,141
5,067

Cash at bank and in hand
  
10,848
7,102

  
28,189
26,369

Creditors: amounts falling due within one year
 7 
(28,230)
(32,754)

Net current liabilities
  
 
 
(41)
 
 
(6,385)

Total assets less current liabilities
  
7,767
4,351

  

Net assets
  
7,767
4,351


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
7,765
4,349

  
7,767
4,351

Page 1

 


7KART UK LIMITED
REGISTERED NUMBER:06182155


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The director considers 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 year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

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




................................................
R Nurse
Director

Date: 24 November 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


7KART UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

7Kart UK Limited is a private company, limited by shares, registered in England and Wales. The company's
registered number and registered office address can be found on the Company Information page.
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 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 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

 


7KART UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.4

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
-
25% and 20% on cost

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.

 
2.5

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 reporting 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.

 
2.6

Financial instruments

Page 4

 


7KART UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
14,635



At 31 March 2024

14,635



Amortisation


At 1 April 2023
14,635



At 31 March 2024

14,635



Net book value



At 31 March 2024
-



At 31 March 2023
-



Page 5

 


7KART UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 April 2023
9,608
14,640
24,248



At 31 March 2024

9,608
14,640
24,248



Depreciation


At 1 April 2023
9,608
3,904
13,512


Charge for the year on owned assets
-
2,928
2,928



At 31 March 2024

9,608
6,832
16,440



Net book value



At 31 March 2024
-
7,808
7,808



At 31 March 2023
-
10,736
10,736


6.


Debtors

2024
2023
£
£


Trade debtors
1,929
3,784

Other debtors
1,212
-

Tax recoverable
-
1,283

3,141
5,067



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
9,842
4,538

Corporation tax
2,426
1,235

Other taxation and social security
-
160

Other creditors
14,912
25,771

Accruals and deferred income
1,050
1,050

28,230
32,754


Page 6

 


7KART UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Transactions with directors

At the balance sheet date the company owed £14,466 (2023: £25,771) to the director. The balance can be found within creditors due within one year. No interest is being charged on this loan.

 
Page 7