Kapes Ltd 14382007 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is the sale of ice cream and related products. Digita Accounts Production Advanced 6.30.9574.0 true 14382007 2023-10-01 2024-09-30 14382007 2024-09-30 14382007 core:RetainedEarningsAccumulatedLosses 2024-09-30 14382007 core:ShareCapital 2024-09-30 14382007 core:CurrentFinancialInstruments 2024-09-30 14382007 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 14382007 core:FurnitureFittingsToolsEquipment 2024-09-30 14382007 core:LandBuildings 2024-09-30 14382007 core:MotorVehicles 2024-09-30 14382007 core:OtherPropertyPlantEquipment 2024-09-30 14382007 bus:SmallEntities 2023-10-01 2024-09-30 14382007 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 14382007 bus:FullAccounts 2023-10-01 2024-09-30 14382007 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 14382007 bus:RegisteredOffice 2023-10-01 2024-09-30 14382007 bus:Director1 2023-10-01 2024-09-30 14382007 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 14382007 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 14382007 core:LandBuildings 2023-10-01 2024-09-30 14382007 core:MotorCars 2023-10-01 2024-09-30 14382007 core:MotorVehicles 2023-10-01 2024-09-30 14382007 core:OfficeEquipment 2023-10-01 2024-09-30 14382007 core:OtherPropertyPlantEquipment 2023-10-01 2024-09-30 14382007 core:PlantMachinery 2023-10-01 2024-09-30 14382007 countries:EnglandWales 2023-10-01 2024-09-30 14382007 2023-09-30 14382007 core:FurnitureFittingsToolsEquipment 2023-09-30 14382007 core:LandBuildings 2023-09-30 14382007 core:MotorVehicles 2023-09-30 14382007 core:OtherPropertyPlantEquipment 2023-09-30 14382007 2022-09-28 2023-09-30 14382007 2023-09-30 14382007 core:RetainedEarningsAccumulatedLosses 2023-09-30 14382007 core:ShareCapital 2023-09-30 14382007 core:CurrentFinancialInstruments 2023-09-30 14382007 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 14382007 core:FurnitureFittingsToolsEquipment 2023-09-30 14382007 core:LandBuildings 2023-09-30 14382007 core:MotorVehicles 2023-09-30 14382007 core:OtherPropertyPlantEquipment 2023-09-30 iso4217:GBP xbrli:pure

Registration number: 14382007

Kapes Ltd

Filleted Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Kapes Ltd
(Registration number: 14382007)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Kapes Ltd
(Registration number: 14382007)

Company Information

Director

T H Seward

Registered office

Kapes
The Esplanade
Sidmouth
Devon
EX10 8BB

Accountants

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

Kapes Ltd
(Registration number: 14382007)

Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

52,051

38,756

Current assets

 

Stocks

5

3,480

2,360

Debtors

6

6,066

5,796

Cash at bank and in hand

 

47,624

33,261

 

57,170

41,417

Creditors: Amounts falling due within one year

7

(72,659)

(68,067)

Net current liabilities

 

(15,489)

(26,650)

Total assets less current liabilities

 

36,562

12,106

Provisions for liabilities

(7,317)

(2,551)

Net assets

 

29,245

9,555

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

29,244

9,554

Total equity

 

29,245

9,555

 

Kapes Ltd
(Registration number: 14382007)

Balance Sheet as at 30 September 2024

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

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 29 January 2025
 

.........................................
T H Seward
Director

 

Kapes Ltd
(Registration number: 14382007)

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Kapes
The Esplanade
Sidmouth
Devon
EX10 8BB
United Kingdom

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.

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.

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.

 

Kapes Ltd
(Registration number: 14382007)

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

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet 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

Office equipment

25% straight line

Plant and achinery

25% straight line

Motor vehicles

15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Kapes Ltd
(Registration number: 14382007)

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Kapes Ltd
(Registration number: 14382007)

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 4).

 

Kapes Ltd
(Registration number: 14382007)

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

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 October 2023

7,203

6,756

-

31,550

45,509

Additions

-

2,503

10,995

12,788

26,286

At 30 September 2024

7,203

9,259

10,995

44,338

71,795

Depreciation

At 1 October 2023

1,321

910

-

4,522

6,753

Charge for the year

1,321

1,535

1,374

8,761

12,991

At 30 September 2024

2,642

2,445

1,374

13,283

19,744

Carrying amount

At 30 September 2024

4,561

6,814

9,621

31,055

52,051

At 30 September 2023

5,882

5,846

-

27,028

38,756

Included within the net book value of land and buildings above is £4,561 (2023 - £5,882) in respect of short leasehold land and buildings.
 

 

Kapes Ltd
(Registration number: 14382007)

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

5

Stocks

2024
£

2023
£

Other stocks

3,480

2,360

6

Debtors

2024
£

2023
£

Other debtors

5,361

4,621

Prepayments and accrued income

705

1,175

Total current trade and other debtors

6,066

5,796

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

7,447

1,977

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

47,521

49,932

Taxation and social security

 

8,423

9,017

Other creditors

 

7,268

5,141

Accrued expenses

 

2,000

2,000

 

72,659

68,067