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Registered number: 09079755
Kameleon Group Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
TaxAssist Barnstaple
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09079755
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 4,166 7,876
Tangible Assets 5 16,050 32,549
Investments 6 - 2
20,216 40,427
CURRENT ASSETS
Debtors 7 75,769 78,922
Cash at bank and in hand 45,587 1,309
121,356 80,231
Creditors: Amounts Falling Due Within One Year 8 (92,004 ) (68,263 )
NET CURRENT ASSETS (LIABILITIES) 29,352 11,968
TOTAL ASSETS LESS CURRENT LIABILITIES 49,568 52,395
Creditors: Amounts Falling Due After More Than One Year 9 (28,882 ) (39,198 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,050 ) (2,539 )
NET ASSETS 17,636 10,658
CAPITAL AND RESERVES
Called up share capital 11 197 197
Profit and Loss Account 17,439 10,461
SHAREHOLDERS' FUNDS 17,636 10,658
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Christopher Peyton
Director
25/11/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Kameleon Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09079755 . The registered office is The Workhouse, Brannam Square, Barnstaple, EX32 8QB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 10% reducing balance
Fixtures & Fittings 20% reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts 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 the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 8)
8 8
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 18,549
As at 30 June 2024 18,549
Amortisation
As at 1 July 2023 10,673
Impairment losses 3,710
As at 30 June 2024 14,383
Net Book Value
As at 30 June 2024 4,166
As at 1 July 2023 7,876
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 July 2023 22,520 34,119 56,639
Additions - 3,236 3,236
Disposals (22,520 ) (6,418 ) (28,938 )
As at 30 June 2024 - 30,937 30,937
Depreciation
As at 1 July 2023 7,678 16,412 24,090
...CONTINUED
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Page 5
Provided during the period - 1,097 1,097
Disposals (7,678 ) (2,622 ) (10,300 )
As at 30 June 2024 - 14,887 14,887
Net Book Value
As at 30 June 2024 - 16,050 16,050
As at 1 July 2023 14,842 17,707 32,549
6. Investments
Subsidiaries
£
Cost
As at 1 July 2023 2
As at 30 June 2024 2
Provision
As at 1 July 2023 -
Impairment losses 2
As at 30 June 2024 2
Net Book Value
As at 30 June 2024 -
As at 1 July 2023 2
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 79,548 45,122
Amounts recoverable on contracts (3,876 ) 10,922
Prepayments and accrued income - 825
Corporation tax recoverable assets - 15,675
Called up share capital not paid 97 97
Amounts owed by group undertakings - 6,281
75,769 78,922
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 3,630
Trade creditors 31,751 2,698
Bank loans and overdrafts 4,959 4,960
Corporation tax 4,534 -
Other taxes and social security 2,405 2,798
VAT 30,920 28,087
Net wages 806 -
...CONTINUED
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Other creditors- credit cards 4,810 14,610
Accruals and deferred income 4,482 4,857
Amounts owed to group undertakings 7,337 6,623
92,004 68,263
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 7,606
Bank loans 28,882 31,592
28,882 39,198
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 3,630
Later than one year and not later than five years - 7,606
- 11,236
- 11,236
11. Share Capital
2024 2023
£ £
Called Up Share Capital not Paid 97 97
Called Up Share Capital has been paid up 100 100
Amount of Allotted, Called Up Share Capital 197 197
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