IRIS Accounts Production v24.3.0.553 05757014 director 1.6.23 31.5.24 31.5.24 false true false false true false Ordinary A 1.00000 Ordinary B 1.00000 Ordinary C 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh057570142023-05-31057570142024-05-31057570142023-06-012024-05-31057570142022-05-31057570142022-06-012023-05-31057570142023-05-3105757014ns15:EnglandWales2023-06-012024-05-3105757014ns14:PoundSterling2023-06-012024-05-3105757014ns10:Director12023-06-012024-05-3105757014ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3105757014ns10:SmallEntities2023-06-012024-05-3105757014ns10:AuditExemptWithAccountantsReport2023-06-012024-05-3105757014ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3105757014ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3105757014ns10:FullAccounts2023-06-012024-05-3105757014ns10:OrdinaryShareClass12023-06-012024-05-3105757014ns10:OrdinaryShareClass22023-06-012024-05-3105757014ns10:OrdinaryShareClass32023-06-012024-05-3105757014ns10:RegisteredOffice2023-06-012024-05-3105757014ns5:CurrentFinancialInstruments2024-05-3105757014ns5:CurrentFinancialInstruments2023-05-3105757014ns5:Non-currentFinancialInstruments2024-05-3105757014ns5:Non-currentFinancialInstruments2023-05-3105757014ns5:ShareCapital2024-05-3105757014ns5:ShareCapital2023-05-3105757014ns5:RetainedEarningsAccumulatedLosses2024-05-3105757014ns5:RetainedEarningsAccumulatedLosses2023-05-3105757014ns5:PlantMachinery2023-06-012024-05-3105757014ns5:FurnitureFittings2023-06-012024-05-3105757014ns5:ComputerEquipment2023-06-012024-05-3105757014ns5:PlantMachinery2023-05-3105757014ns5:FurnitureFittings2023-05-3105757014ns5:ComputerEquipment2023-05-3105757014ns5:PlantMachinery2024-05-3105757014ns5:FurnitureFittings2024-05-3105757014ns5:ComputerEquipment2024-05-3105757014ns5:PlantMachinery2023-05-3105757014ns5:FurnitureFittings2023-05-3105757014ns5:ComputerEquipment2023-05-3105757014ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-05-3105757014ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3105757014ns5:WithinOneYear2024-05-3105757014ns5:WithinOneYear2023-05-3105757014ns5:BetweenOneFiveYears2024-05-3105757014ns5:BetweenOneFiveYears2023-05-3105757014ns5:AllPeriods2024-05-3105757014ns5:AllPeriods2023-05-3105757014ns5:DeferredTaxation2023-05-3105757014ns5:DeferredTaxation2023-06-012024-05-3105757014ns5:DeferredTaxation2024-05-3105757014ns10:OrdinaryShareClass12024-05-3105757014ns10:OrdinaryShareClass22024-05-3105757014ns10:OrdinaryShareClass32024-05-31
REGISTERED NUMBER: 05757014 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Kate + Co Limited

Kate + Co Limited (Registered number: 05757014)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Kate + Co Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Mrs S A Stocks





REGISTERED OFFICE: 2nd Floor
141 High Street
Solihull
West Midlands
B91 3SR





REGISTERED NUMBER: 05757014 (England and Wales)





ACCOUNTANTS: Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD

Kate + Co Limited (Registered number: 05757014)

Balance Sheet
31 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 28,795 33,160

CURRENT ASSETS
Debtors 5 745,474 824,051
Cash at bank 22,594 38,875
768,068 862,926
CREDITORS
Amounts falling due within one year 6 (419,425 ) (410,539 )
NET CURRENT ASSETS 348,643 452,387
TOTAL ASSETS LESS CURRENT
LIABILITIES

377,438

485,547

CREDITORS
Amounts falling due after more than one
year

7

(50,000

)

(107,231

)

PROVISIONS FOR LIABILITIES 9 (7,088 ) (8,155 )
NET ASSETS 320,350 370,161

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 320,250 370,061
SHAREHOLDERS' FUNDS 320,350 370,161

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Kate + Co Limited (Registered number: 05757014)

Balance Sheet - continued
31 May 2024


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 October 2024 and were signed by:





Mrs S A Stocks - Director


Kate + Co Limited (Registered number: 05757014)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Kate + Co 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

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Web project - 20% on cost
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 14 ) .

Kate + Co Limited (Registered number: 05757014)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Web and Computer
project fittings equipment Totals
£    £    £    £   
COST
At 1 June 2023 18,738 33,728 61,131 113,597
Additions - - 679 679
Disposals (18,738 ) - - (18,738 )
At 31 May 2024 - 33,728 61,810 95,538
DEPRECIATION
At 1 June 2023 18,738 21,425 40,274 80,437
Charge for year - 1,848 3,196 5,044
Eliminated on disposal (18,738 ) - - (18,738 )
At 31 May 2024 - 23,273 43,470 66,743
NET BOOK VALUE
At 31 May 2024 - 10,455 18,340 28,795
At 31 May 2023 - 12,303 20,857 33,160

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 344,209 359,420
Other debtors 401,265 464,631
745,474 824,051

Of the total trade debtors £267,377 are subject to an invoice discounting agreement and secured by a floating charge in favour of RBS Invoice Finance Ltd dated 17 January 2020.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 50,000 50,000
Invoice discounted advances 86,175 55,731
Trade creditors 31,645 94,706
Taxation and social security 182,262 83,431
Other creditors 69,343 126,671
419,425 410,539

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 50,000 100,000
Other creditors - 7,231
50,000 107,231

Kate + Co Limited (Registered number: 05757014)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 19,483 19,483
Between one and five years 26,634 46,117
46,117 65,600

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 7,088 8,155

Deferred
tax
£   
Balance at 1 June 2023 8,155
Credit to Profit and Loss Account during year (1,067 )
Balance at 31 May 2024 7,088

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
56 Ordinary A £1 56 56
35 Ordinary B £1 35 35
9 Ordinary C £1 9 9
100 100

These shares rank pari-passu in all respects except that each class of share shall be entitled to dividends on a discretionary basis as separate class right.

11. FINANCIAL COMMITMENT

As at 31 March 2023, there were outstanding pension contributions of £2,735.

12. RELATED PARTY DISCLOSURES

Kate + Co Limited (Registered number: 05757014)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

12. RELATED PARTY DISCLOSURES - continued

Kate + Co Holdings Limited

Holding Company


In the year Kate + Co Limited paid dividends of £93,750 (2023 - £138,400) to Kate + Co Holdings Limited.

The amount owed by Kate + Co Holdings Limited is unsecured and has no specific terms regarding payment of interest. The amount due is repayable on demand but the directors of Kate + Co Limited have given their assurance that the amount due will not be demanded until such time as Kate + Co Holdings Limited can afford to do so without detriment to its operating and working capital requirements.

2024 2023
£    £   
Amount due from related party at the balance sheet date 343,872 418,872

Kate & Co (UK) Limited

A company in which Mrs S Stocks is a director


The amount owed by Kate & Co Limited is unsecured and has no specific terms regarding payment of interest. The amount due is repayable on demand but the directors of Kate + Co (UK) Limited have given their assurance that the amount due will not be demanded until such time as Kate & Co Limited can afford to do so without detriment to its operating and working capital requirements.

2024 2023
£    £   
Amount due to related party at the balance sheet date 3,697 394

The Animal Recruitment Company Limited

A company in which Mrs S Stocks is a director


The amount owed by The Animal People Recruitment Company Limited is unsecured and has no specific terms regarding payment of interest. The amount due is repayable on demand but the directors of Kate + Co Limited have given their assurance that the amount due will not be demanded until such time as The Animal People Recruitment Company Limited can afford to do so without detriment to its operating and working capital requirements.

2024 2023
£    £   
Amount due from related party at the balance sheet date 1,718 26,118

13. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Kate + Co Holdings Limited.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Kate + Co Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kate + Co Limited for the year ended 31 May 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Kate + Co Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kate + Co Limited and state those matters that we have agreed to state to the director of Kate + Co Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kate + Co Limited and its director for our work or for this report.

It is your duty to ensure that Kate + Co Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kate + Co Limited. You consider that Kate + Co Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Kate + Co Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD


29 October 2024