Caseware UK (AP4) 2023.0.135 2023.0.135 2024-10-312024-10-31truefalse2023-11-01Other business support service activites not elsewhere classified11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09258238 2023-11-01 2024-10-31 09258238 2022-11-01 2023-10-31 09258238 2024-10-31 09258238 2023-10-31 09258238 c:Director1 2023-11-01 2024-10-31 09258238 d:Buildings 2023-11-01 2024-10-31 09258238 d:Buildings 2024-10-31 09258238 d:Buildings 2023-10-31 09258238 d:Buildings d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 09258238 d:PlantMachinery 2023-11-01 2024-10-31 09258238 d:PlantMachinery 2024-10-31 09258238 d:PlantMachinery 2023-10-31 09258238 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 09258238 d:MotorVehicles 2023-11-01 2024-10-31 09258238 d:MotorVehicles 2024-10-31 09258238 d:MotorVehicles 2023-10-31 09258238 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 09258238 d:FurnitureFittings 2023-11-01 2024-10-31 09258238 d:FurnitureFittings 2024-10-31 09258238 d:FurnitureFittings 2023-10-31 09258238 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 09258238 d:ComputerEquipment 2023-11-01 2024-10-31 09258238 d:ComputerEquipment 2024-10-31 09258238 d:ComputerEquipment 2023-10-31 09258238 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 09258238 d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 09258238 d:PatentsTrademarksLicencesConcessionsSimilar 2024-10-31 09258238 d:PatentsTrademarksLicencesConcessionsSimilar 2023-10-31 09258238 d:CurrentFinancialInstruments 2024-10-31 09258238 d:CurrentFinancialInstruments 2023-10-31 09258238 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 09258238 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 09258238 d:ShareCapital 2024-10-31 09258238 d:ShareCapital 2023-10-31 09258238 d:RetainedEarningsAccumulatedLosses 2024-10-31 09258238 d:RetainedEarningsAccumulatedLosses 2023-10-31 09258238 d:AcceleratedTaxDepreciationDeferredTax 2024-10-31 09258238 d:AcceleratedTaxDepreciationDeferredTax 2023-10-31 09258238 c:OrdinaryShareClass1 2023-11-01 2024-10-31 09258238 c:OrdinaryShareClass1 2024-10-31 09258238 c:OrdinaryShareClass1 2023-10-31 09258238 c:FRS102 2023-11-01 2024-10-31 09258238 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 09258238 c:FullAccounts 2023-11-01 2024-10-31 09258238 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 09258238 2 2023-11-01 2024-10-31 09258238 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-11-01 2024-10-31 09258238 e:PoundSterling 2023-11-01 2024-10-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 09258238









KEVS DISCOUNT SPARES LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

 
KEVS DISCOUNT SPARES LTD
REGISTERED NUMBER: 09258238

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Intangible assets
 4 
319
361

Tangible assets
 5 
273,687
301,997

  
274,006
302,358

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 6 
332,765
9,969

Bank and cash balances
  
456,527
555,377

  
789,292
565,346

Creditors: amounts falling due within one year
 7 
(220,635)
(175,855)

NET CURRENT ASSETS
  
 
 
568,657
 
 
389,491

TOTAL ASSETS LESS CURRENT LIABILITIES
  
842,663
691,849

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(68,422)
(75,499)

  
 
 
(68,422)
 
 
(75,499)

NET ASSETS
  
774,241
616,350


CAPITAL AND RESERVES
  

Called up share capital 
 9 
1
1

Profit and loss account
  
774,240
616,349

  
774,241
616,350


Page 1

 
KEVS DISCOUNT SPARES LTD
REGISTERED NUMBER: 09258238
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements 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 - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




K Talbot
Director

Date: 7 February 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
KEVS DISCOUNT SPARES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


GENERAL INFORMATION

Kevs Discount Spares Limited is a private limited company incorporated in England and Wales. Its registered office address is Salisbury House, Station Road, Cambridge, CB1 2LA.
Its functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

TURNOVER

Turnover comprises revenue recognised by the Company in respect of multi-media broadcasting and the sale of spare parts during the year, exclusive of Value Added Tax. 
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Page 3

 
KEVS DISCOUNT SPARES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

CURRENT AND DEFERRED TAXATION

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.7

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
KEVS DISCOUNT SPARES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.7
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Plant and machinery
-
25%
Motor vehicles
-
25%
Fixtures and fittings
-
25%
Computer equipment
-
25%

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
KEVS DISCOUNT SPARES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.12

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 6

 
KEVS DISCOUNT SPARES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


INTANGIBLE ASSETS




Trademarks

£



COST


At 1 November 2023
420



At 31 October 2024

420



AMORTISATION


At 1 November 2023
59


Charge for the year on owned assets
42



At 31 October 2024

101



NET BOOK VALUE



At 31 October 2024
319



At 31 October 2023
361



Page 7
 


 
KEVS DISCOUNT SPARES LTD


 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


5.


TANGIBLE FIXED ASSETS






Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£
£



COST OR VALUATION


At 1 November 2023
155,000
284,535
6,000
2,479
18,709
466,723


Additions
-
279
-
-
10,495
10,774



At 31 October 2024

155,000
284,814
6,000
2,479
29,204
477,497



DEPRECIATION


At 1 November 2023
-
148,713
750
1,880
13,383
164,726


Charge for the year on owned assets
-
34,024
1,313
150
3,597
39,084



At 31 October 2024

-
182,737
2,063
2,030
16,980
203,810



NET BOOK VALUE



At 31 October 2024
155,000
102,077
3,937
449
12,224
273,687



At 31 October 2023
155,000
135,822
5,250
599
5,326
301,997

Page 8
 
KEVS DISCOUNT SPARES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


DEBTORS

2024
2023
£
£


Trade debtors
162
-

Other debtors
326,854
4,225

Prepayments and accrued income
5,749
5,744

332,765
9,969



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
1,440
584

Corporation tax
160,379
171,962

Other taxation and social security
-
359

Accruals and deferred income
58,816
2,950

220,635
175,855


Page 9

 
KEVS DISCOUNT SPARES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

8.


DEFERRED TAXATION




2024


£






At beginning of year
(75,499)


Charged to profit or loss
7,077



AT END OF YEAR
(68,422)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(68,422)
(75,499)

(68,422)
(75,499)


9.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1 (2023 - 1) Ordinary share of £1.00
1
1


 
Page 10