Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31true2023-06-01false2225falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04969821 2023-06-01 2024-05-31 04969821 2022-06-01 2023-05-31 04969821 2024-05-31 04969821 2023-05-31 04969821 c:Director2 2023-06-01 2024-05-31 04969821 c:Director3 2023-06-01 2024-05-31 04969821 d:Buildings d:ShortLeaseholdAssets 2023-06-01 2024-05-31 04969821 d:Buildings d:ShortLeaseholdAssets 2024-05-31 04969821 d:Buildings d:ShortLeaseholdAssets 2023-05-31 04969821 d:MotorVehicles 2023-06-01 2024-05-31 04969821 d:MotorVehicles 2024-05-31 04969821 d:MotorVehicles 2023-05-31 04969821 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 04969821 d:FurnitureFittings 2023-06-01 2024-05-31 04969821 d:FurnitureFittings 2024-05-31 04969821 d:FurnitureFittings 2023-05-31 04969821 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 04969821 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 04969821 d:Goodwill 2023-06-01 2024-05-31 04969821 d:Goodwill 2024-05-31 04969821 d:Goodwill 2023-05-31 04969821 d:CurrentFinancialInstruments 2024-05-31 04969821 d:CurrentFinancialInstruments 2023-05-31 04969821 d:CurrentFinancialInstruments 2 2024-05-31 04969821 d:CurrentFinancialInstruments 2 2023-05-31 04969821 d:Non-currentFinancialInstruments 2024-05-31 04969821 d:Non-currentFinancialInstruments 2023-05-31 04969821 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 04969821 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 04969821 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 04969821 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 04969821 d:ShareCapital 2024-05-31 04969821 d:ShareCapital 2023-05-31 04969821 d:RetainedEarningsAccumulatedLosses 2024-05-31 04969821 d:RetainedEarningsAccumulatedLosses 2023-05-31 04969821 c:FRS102 2023-06-01 2024-05-31 04969821 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 04969821 c:FullAccounts 2023-06-01 2024-05-31 04969821 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 04969821 6 2023-06-01 2024-05-31 04969821 d:Goodwill d:OwnedIntangibleAssets 2023-06-01 2024-05-31 04969821 f:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 04969821










K.A.D. LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
K.A.D. LIMITED
REGISTERED NUMBER: 04969821

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
2,226,903
375,000

Tangible assets
 5 
61,148
11,566

Investments
 6 
-
1,951,477

  
2,288,051
2,338,043

Current assets
  

Stocks
  
169,194
95,102

Debtors: amounts falling due within one year
 7 
370,193
232,484

Cash at Bank and in hand
  
235,917
612,503

  
775,304
940,089

Creditors: amounts falling due within one year
 8 
(1,093,133)
(636,921)

Net current (liabilities)/assets
  
 
 
(317,829)
 
 
303,168

Total assets less current liabilities
  
1,970,222
2,641,211

Creditors: amounts falling due after more than one year
 9 
(532,515)
(1,261,658)

Provisions for liabilities
  

Deferred tax
  
(15,287)
(1,642)

  
 
 
(15,287)
 
 
(1,642)

Net assets
  
1,422,420
1,377,911


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,422,320
1,377,811

  
1,422,420
1,377,911


Page 1

 
K.A.D. LIMITED
REGISTERED NUMBER: 04969821
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2024

The directors consider 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 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 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 comprehensive income 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 on 16 February 2025.




Mr Anish Shah
Mr Kalpesh A Shah
Director
Director

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

Page 2

 
K.A.D. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

K.A.D. Limited is a private company, limited by share capital, incorporated in England and Wales under registration number 04969821. The address of the company's registered office is 382 Bath Road, Hounslow West, Middlesex TW4 7HT.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
K.A.D. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
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 reporting 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 reporting 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 reporting date.


Page 4

 
K.A.D. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.6

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other 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.

 The estimated useful lives range as follows:

Goodwill
-
20
years straight line

 
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.

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:

Short-term leasehold property
-
15 years straight line
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance

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

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 5

 
K.A.D. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.10

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.

 
2.11

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.

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 22 (2023 - 25).

Page 6

 
K.A.D. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 June 2023
1,250,000


Arising on hive-up of SVR Chemist Ltd
2,351,477



At 31 May 2024

3,601,477



Amortisation


At 1 June 2023
875,000


Charge for the year on owned assets
165,574


Arising on hive-up of SVR Chemist Ltd
334,000



At 31 May 2024

1,374,574



Net book value



At 31 May 2024
2,226,903



At 31 May 2023
375,000



Page 7

 
K.A.D. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Tangible fixed assets





Short-term leasehold property
Delivery car
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 June 2023
75,000
8,500
127,478
210,978


Additions
-
-
1,217
1,217


Arising on hive-up of SVR Chemist Ltd
-
-
206,707
206,707



At 31 May 2024

75,000
8,500
335,402
418,902



Depreciation


At 1 June 2023
70,000
8,500
120,911
199,411


Charge for the year on owned assets
5,000
-
20,383
25,383


Arising on hive-up of SVR Chemist Ltd
-
-
132,960
132,960



At 31 May 2024

75,000
8,500
274,254
357,754



Net book value



At 31 May 2024
-
-
61,148
61,148



At 31 May 2023
5,000
-
6,566
11,566


6.


Fixed asset investments





Investments in subsidiary company






At 1 June 2023
1,951,477


Investments in SVR Chemist Ltd reclassified to Goodwill on hive-up
(1,951,477)



At 31 May 2024
-




Page 8

 
K.A.D. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

7.


Debtors

2024
2023
£
£


Trade debtors
304,688
178,262

Other debtors - Rent deposit
4,467
-

Amounts owed by connected company
-
990

VAT repayable
45,771
41,289

Prepayments and accrued income
15,267
11,943

370,193
232,484



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loan
62,775
102,625

Trade creditors
445,886
176,659

Other creditors
260,000
60,000

Amounts owed to subsidiary company
100
-

Corporation tax and section 455 tax
127,089
47,491

Other taxation and social security
5,178
7,139

Directors' loan account
190,373
234,168

Accruals and deferred income
1,732
8,839

1,093,133
636,921


Bank loan is secured by a fixed and floating charge over the assets of the company.


9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loan
532,515
1,261,658

532,515
1,261,658


Bank loan is secured by a fixed and floating charge over the assets of the company.

Page 9

 
K.A.D. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

10.


Controlling party

There is no controlling party.

 
Page 10