Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01falseNo description of principal activity44truetruefalse 11133903 2023-04-01 2024-03-31 11133903 2022-04-01 2023-03-31 11133903 2024-03-31 11133903 2023-03-31 11133903 c:Director2 2023-04-01 2024-03-31 11133903 d:MotorVehicles 2023-04-01 2024-03-31 11133903 d:MotorVehicles 2024-03-31 11133903 d:MotorVehicles 2023-03-31 11133903 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11133903 d:CurrentFinancialInstruments 2024-03-31 11133903 d:CurrentFinancialInstruments 2023-03-31 11133903 d:Non-currentFinancialInstruments 2024-03-31 11133903 d:Non-currentFinancialInstruments 2023-03-31 11133903 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11133903 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11133903 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 11133903 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 11133903 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 11133903 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 11133903 d:ShareCapital 2024-03-31 11133903 d:ShareCapital 2023-03-31 11133903 d:RetainedEarningsAccumulatedLosses 2024-03-31 11133903 d:RetainedEarningsAccumulatedLosses 2023-03-31 11133903 c:OrdinaryShareClass1 2023-04-01 2024-03-31 11133903 c:OrdinaryShareClass1 2024-03-31 11133903 c:OrdinaryShareClass1 2023-03-31 11133903 c:OrdinaryShareClass2 2023-04-01 2024-03-31 11133903 c:OrdinaryShareClass2 2024-03-31 11133903 c:OrdinaryShareClass2 2023-03-31 11133903 c:FRS102 2023-04-01 2024-03-31 11133903 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11133903 c:FullAccounts 2023-04-01 2024-03-31 11133903 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11133903 d:Subsidiary1 2023-04-01 2024-03-31 11133903 d:Subsidiary1 1 2023-04-01 2024-03-31 11133903 2 2023-04-01 2024-03-31 11133903 6 2023-04-01 2024-03-31 11133903 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 11133903 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 11133903 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 11133903 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 11133903 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-03-31 11133903 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-31 11133903 d:LeasedAssetsHeldAsLessee 2024-03-31 11133903 d:LeasedAssetsHeldAsLessee 2023-03-31 11133903 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11133903









KLGNV (CASING) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
KLGNV (CASING) LIMITED
REGISTERED NUMBER: 11133903

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
43,750
58,750

Investments
 5 
100
100

  
43,850
58,850

Current assets
  

Stocks
  
992,227
2,307,346

Debtors: amounts falling due within one year
 6 
544,296
475,743

Cash at bank and in hand
  
24,791
148,872

  
1,561,314
2,931,961

Creditors: amounts falling due within one year
 7 
(649,118)
(1,903,302)

Net current assets
  
 
 
912,196
 
 
1,028,659

Total assets less current liabilities
  
956,046
1,087,509

Creditors: amounts falling due after more than one year
 8 
-
(60,685)

Provisions for liabilities
  

Deferred tax
 10 
(599)
-

  
 
 
(599)
 
 
-

Net assets
  
955,447
1,026,824


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
955,347
1,026,724

  
955,447
1,026,824


Page 1

 
KLGNV (CASING) LIMITED
REGISTERED NUMBER: 11133903
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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 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 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 on 26 November 2024.




G J E Brandrick
Director

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

Page 2

 
KLGNV (CASING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 11133903. The Company's registered office is C/O Brandrick Commercials, Penncricket Lane, Rowley Regis, West Midlands, England, B65 0RE.
The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £1.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

Page 3

 
KLGNV (CASING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

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.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
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 year in which they are incurred.

Page 4

 
KLGNV (CASING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet 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 balance sheet date.

 
2.8

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:

Motor vehicles
-
20%

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.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 5

 
KLGNV (CASING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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.

 
2.13

Creditors

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

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 6

 
KLGNV (CASING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Motor vehicles

£



Cost or valuation


At 1 April 2023
75,000



At 31 March 2024

75,000



Depreciation


At 1 April 2023
16,250


Charge for the year on owned assets
15,000



At 31 March 2024

31,250



Net book value



At 31 March 2024
43,750



At 31 March 2023
58,750

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


2024
2023
£
£



Motor vehicles
43,750
58,750

43,750
58,750

Page 7

 
KLGNV (CASING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
100



At 31 March 2024
100





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Class of shares

Holding

Casing Management Services Limited
Ordinary
100%

The registered office of the subsidiary undertaking is the same as the registered office of the parent company, being; C/O Brandrick Commercials, Penncricket Lane, Rowley Regis, West Midlands, England, B65 0RE.


6.


Debtors

2024
2023
£
£


Trade debtors
-
810

Other debtors
54,615
186,990

Prepayments and accrued income
489,681
287,943

544,296
475,743


Page 8

 
KLGNV (CASING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Loans
18,955
74,286

Trade creditors
33,628
25,469

Corporation tax
2,905
-

Other taxation and social security
3,399
-

Obligations under finance lease and hire purchase contracts
41,732
12,574

Other creditors
533,680
1,783,125

Accruals and deferred income
14,819
7,848

649,118
1,903,302


The following liabilities were secured:

2024
2023
£
£



Obligations under finance lease and hire purchase contracts
41,732
12,574

41,732
12,574

Details of security provided:

Obligations under finance lease and hire purchase contracts are secured against the assets to which they relate.

Page 9

 
KLGNV (CASING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Loans
-
18,955

Net obligations under finance leases and hire purchase contracts
-
41,730

-
60,685


The following liabilities were secured:

2024
2023
£
£



Obligations under finance lease and hire purchase contracts
-
41,730

-
41,730

Details of security provided:

Obligations under finance lease and hire purchase contracts are secured against the assets to which they relate.


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Loans
18,955
74,286


18,955
74,286

Amounts falling due 1-2 years

Loans
-
18,955


-
18,955



18,955
93,241


Page 10

 
KLGNV (CASING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Deferred taxation




2024


£






Charged to profit or loss
(599)



At end of year
(599)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(599)
(1,581)

Tax losses carried forward
-
1,581

(599)
-


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



50 (2023 - 50) Ordinary shares of £1.00 each
50
50
50 (2023 - 50) Ordinary 'A' shares of £1.00 each
50
50

100

100



12.


Transactions with directors

During the year the loans were repaid by the directors.  As at the balance sheet date £Nil (2023 - £133,687) was due from  directors of the company.

 
Page 11