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KOZIWARM LIMITED

Registered Number
02236361
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

KOZIWARM LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

BULLOCK, Alison
BULLOCK, Kevin Alan
JAKE, Bullock
JOSHUA, Bullock

Company Secretary

BULLOCK, Alison

Registered Address

3 Coast Road
Wallsend
Tyne & Wear
NE28 9HP

Registered Number

02236361 (England and Wales)
KOZIWARM LIMITED
Statement of Financial Position
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3123,17454,876
123,17454,876
Current assets
Stocks417,12517,942
Debtors5105,352159,751
Cash at bank and on hand106,32325,169
228,800202,862
Creditors amounts falling due within one year6(140,468)(148,671)
Net current assets (liabilities)88,33254,191
Total assets less current liabilities211,506109,067
Creditors amounts falling due after one year7(39,946)(8,997)
Provisions for liabilities9(31,062)(13,436)
Net assets140,49886,634
Capital and reserves
Called up share capital100100
Profit and loss account140,39886,534
Shareholders' funds140,49886,634
The financial statements were approved and authorised for issue by the Board of Directors on 8 January 2025, and are signed on its behalf by:
BULLOCK, Kevin Alan
Director
Registered Company No. 02236361
KOZIWARM LIMITED
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis 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.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
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 obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Fixtures and fittings15-
Vehicles25-
Office Equipment-4
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement.
Financial instruments
The company 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 ordinary shares.
Government grants or assistance
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.
2.Average number of employees

20242023
Average number of employees during the year1816
3.Tangible fixed assets

Vehicles

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 June 23120,6858,32719,561148,573
Additions89,505-60790,112
At 31 May 24210,1908,32720,168238,685
Depreciation and impairment
At 01 June 2380,0197,6106,06893,697
Charge for year16,9781084,72821,814
At 31 May 2496,9977,71810,796115,511
Net book value
At 31 May 24113,1936099,372123,174
At 31 May 2340,66671713,49354,876
4.Stocks
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement.

2024

2023

££
Finished goods17,12517,942
Total17,12517,942
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables92,943159,057
Other debtors12,409694
Total105,352159,751
Included within other debtors is an amount of £7,460 owed tothe company by a director (2023: £0). See Note 10.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables23,10015,715
Taxation and social security56,83266,917
Finance lease and HP contracts22,5915,682
Other creditors37,94560,357
Total140,468148,671
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2024

2023

££
Other creditors39,9468,997
Total39,9468,997
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts39,9468,997
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)31,06213,436
Total31,06213,436
10.Related party transactions
During the year a director had a loan account with the company. At the beginning of the year £25,145 was owed to the director (2023 £25,085 to the director). During the year £32,604 was loaned to the director (2023: from the director £60). At the year end £7,459 was owed by the director (2023: to the director). This loan is unsecured, interest free and repayable upon demand.