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Registration number: 08171165

Kate Abbey Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Kate Abbey Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Kate Abbey Limited

(Registration number: 08171165)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

16,497

12,415

Current assets

 

Debtors

6

299

24,687

Cash at bank and in hand

 

127,067

142,638

 

127,366

167,325

Creditors: Amounts falling due within one year

7

(21,860)

(52,897)

Net current assets

 

105,506

114,428

Total assets less current liabilities

 

122,003

126,843

Provisions for liabilities

(3,135)

(2,359)

Net assets

 

118,868

124,484

Capital and reserves

 

Called up share capital

202

202

Retained earnings

118,666

124,282

Shareholders' funds

 

118,868

124,484

For the financial year ending 31 July 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 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.

Approved and authorised by the Board on 12 February 2025 and signed on its behalf by:
 

Ms K Abbey
Director

   
     
 

Kate Abbey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

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

The address of its registered office is:
Parkhill Studio
Walton Road
Wetherby
West Yorkshire
LS22 5DZ
England

These financial statements were authorised for issue by the Board on 12 February 2025.

2

Accounting policies

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

Kate Abbey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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 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

Plant and machinery

25% reducing balance

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

4,749

4,138

 

Kate Abbey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2023

67,457

67,457

Additions

8,831

8,831

At 31 July 2024

76,288

76,288

Depreciation

At 1 August 2023

55,042

55,042

Charge for the year

4,749

4,749

At 31 July 2024

59,791

59,791

Carrying amount

At 31 July 2024

16,497

16,497

At 31 July 2023

12,415

12,415

6

Debtors

Current

2024
£

2023
£

Trade debtors

-

20,039

Prepayments

299

299

Other debtors

-

4,349

 

299

24,687

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

56

-

Trade creditors

 

6,915

2,210

Taxation and social security

 

14,889

50,687

 

21,860

52,897

 

Kate Abbey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

56

-