Company Registration No. 11622312 (England and Wales)
CAMP KERALA UK LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
CAMP KERALA UK LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
3 - 7
CAMP KERALA UK LTD
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
457,405
391,706
Investments
5
100,000
557,405
391,706
Current assets
Debtors
6
2,838,833
2,790,915
Cash at bank and in hand
2,528,399
1,748,899
5,367,232
4,539,814
Creditors: amounts falling due within one year
7
(4,387,093)
(4,790,124)
Net current assets/(liabilities)
980,139
(250,310)
Total assets less current liabilities
1,537,544
141,396
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
1,537,543
141,395
Total equity
1,537,544
141,396
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 31 January 2025 and are signed on its behalf by:
Miss J Oldland
Director
Company Registration No. 11622312
CAMP KERALA UK LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2022
1
(916,439)
(916,438)
Year ended 31 March 2023:
Profit and total comprehensive income
-
1,657,834
1,657,834
Dividends
-
(600,000)
(600,000)
Balance at 31 March 2023
1
141,395
141,396
Year ended 31 March 2024:
Profit and total comprehensive income
-
1,396,148
1,396,148
Balance at 31 March 2024
1
1,537,543
1,537,544
CAMP KERALA UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Camp Kerala UK Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Cockmill Croft Farm, Cockmill Lane, Pilton, Somerset, BA4 4HR.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors remain satisfied that the company is able to meeting its liabilities as they fall due over the next 12 months. Thus the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.
1.3
Turnover
Turnover represents the amounts recoverable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time.
If, at the Balance Sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the company), then turnover is recognised only when the event occurs. In such cases, costs incurred up to the Balance Sheet date are carried forwards as prepayments.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% Reducing balance method
Fixtures and fittings
20% Reducing balance method
Computers
25% Reducing balance method
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
CAMP KERALA UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method except for short-term creditors when the recognition of interest would be immaterial.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
CAMP KERALA UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
4
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
391,706
Additions
260,010
At 31 March 2024
651,716
Depreciation and impairment
At 1 April 2023
Depreciation charged in the year
115,371
Transfers
78,940
At 31 March 2024
194,311
Carrying amount
At 31 March 2024
457,405
At 31 March 2023
391,706
5
Fixed asset investments
2024
2023
£
£
Other investments other than loans
100,000
CAMP KERALA UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
5
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2023
-
Additions
100,000
At 31 March 2024
100,000
Carrying amount
At 31 March 2024
100,000
At 31 March 2023
-
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
402,764
987,733
Amounts owed by group undertakings
1,016,314
673,739
Other debtors
1,419,755
1,129,443
2,838,833
2,790,915
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
172,817
123,915
Amounts owed to group undertakings
404,179
Corporation tax
167,038
206,955
Other taxation and social security
98,084
98,370
Other creditors
3,949,154
3,956,705
4,387,093
4,790,124
8
Called up share capital
2024
2023
£
£
Ordinary share capital
1 Ordinary share of £1 each
1
1
CAMP KERALA UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
9
Related party transactions
As at 31 March 2024, Camp Kerala UK Ltd was owed £5,729 (2023: £2,100) from Camp Kerala Mademoiselle LLP, an entity under common control, in respect of expenses paid on its behalf.
As at 31 March 2024, Camp Kerala UK Ltd was owed £1,220,216 (2023: £1,016,915) from Camp Kerala LLP, an entity under common control, in respect of expenses paid on its behalf. In the year to 31 March 2024, the company was charged a management fee due to Camp Kerala LLP of £914,243 (2023: £1,191,481).
The company has taken advantage of the exemption available in accordance with Financial Reporting Standard 102 Section 1A (para 1AC.35) not to disclose transactions entered into between two or more members of a group, as the company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions.
10
Controlling party
As at the balance sheet date, the company was a wholly owned subsidiary of Camp Kerala Holdings Ltd, a company incorporated in England and Wales.