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Registration number: SC532030

Kaza UK Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Kaza UK Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Kaza UK Limited

Company Information

Directors

Stephen Davidson

Scott Layland

Deborah Reilly-Davidson

Registered office

Unit 3
Bute House
Arran Road
Perth
PH1 3DZ

Accountants

Morris & Young
Chartered Accountants
6 Atholl Crescent
PERTH
PH1 5JN

 

Kaza UK Limited

(Registration number: SC532030)
Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

400

400

Tangible assets

5

97,036

19,962

 

97,436

20,362

Current assets

 

Stocks

6

667,038

913,163

Debtors

7

184,594

155,316

Cash at bank and in hand

 

92,035

158,084

 

943,667

1,226,563

Creditors: Amounts falling due within one year

8

(357,149)

(599,792)

Net current assets

 

586,518

626,771

Total assets less current liabilities

 

683,954

647,133

Creditors: Amounts falling due after more than one year

8

(15,415)

(27,745)

Provisions for liabilities

(24,259)

(4,990)

Net assets

 

644,280

614,398

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

644,180

614,298

Shareholders' funds

 

644,280

614,398

 

Kaza UK Limited

(Registration number: SC532030)
Statement of Financial Position as at 30 April 2024

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 September 2024 and signed on its behalf by:
 

.........................................
Stephen Davidson
Director

 

Kaza UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Unit 3
Bute House
Arran Road
Perth
PH1 3DZ

These financial statements were authorised for issue by the Board on 27 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling (£) and rounded to the nearest £1.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Kaza UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% Straight Line

Office Equipment

33% Straight Line

Motor Vehicles

25% Reducing Balance

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

 

Kaza UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and bank deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. Trade creditors are recognised initially at the transaction price.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 8).

 

Kaza UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 May 2023

400

400

At 30 April 2024

400

400

Amortisation

Carrying amount

At 30 April 2024

400

400

At 30 April 2023

400

400

 

Kaza UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

47,358

-

47,358

Additions

229

101,169

101,398

At 30 April 2024

47,587

101,169

148,756

Depreciation

At 1 May 2023

27,396

-

27,396

Charge for the year

3,978

20,346

24,324

At 30 April 2024

31,374

20,346

51,720

Carrying amount

At 30 April 2024

16,213

80,823

97,036

At 30 April 2023

19,962

-

19,962

6

Stocks

2024
£

2023
£

Other inventories

667,038

913,163

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

39,398

114,389

Amounts owed by related parties

12

66,537

-

Prepayments

 

40,709

796

Other debtors

 

37,950

40,131

   

184,594

155,316

 

Kaza UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

55,569

10,023

Trade creditors

 

198,331

445,324

Amounts owed to group undertakings and undertakings in which the company has a participating interest

12

-

162

Taxation and social security

 

29,042

77,376

Accruals and deferred income

 

10,762

12,337

Other creditors

 

63,445

54,570

 

357,149

599,792

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

15,415

27,745

9

Share capital

Allotted, called up and fully paid shares

2024

2023



No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

 

Kaza UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

15,415

25,537

Finance lease liabilities

-

2,208

15,415

27,745

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,122

10,123

Finance lease liabilities

2,208

4,036

Other borrowings

43,239

(4,136)

55,569

10,023

Finance lease liabilites are secured over the assets to which they relate.

11

Dividends

2024

2023

£

£

Interim dividend of £Nil (2023 - £179.71) per ordinary share

-

17,971

 

 

12

Related party transactions

The overdrawn Directors' Loan Account will be repaid within 9 months of the year end.

 

Kaza UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Summary of transactions with other related parties

West Dron Holdings Ltd
 (Stephen Davidson is also a director)
 During the year a loan account was operated between the companies. At 30 April 2024, West Dron Holdings Ltd owed £28,504 to Kaza UK Limited (2023: £162 owed by Kaza UK Limited).
 

KZ iSU Ltd
(Stephen Davidson is also a director)
During the year a loan account was operated between the companies. At 30 April 2024, KZ iSU Ltd owed £26,825 to Kaza UK Limited (2023: £nil).

Advantage Associates (Perth) Limited
(Deborah Reilly-Davidson is also a director)
During the year a loan account was operated between the companies. At 30 April 2024, Advantage Associates (Perth) Limited owed £11,207 to Kaza UK Limited (2023: £7,295).