Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-302023-04-019falseNo description of principal activity10truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01041627 2023-04-01 2024-04-30 01041627 2022-04-01 2023-03-31 01041627 2024-04-30 01041627 2023-03-31 01041627 2022-04-01 01041627 c:Director1 2023-04-01 2024-04-30 01041627 d:Buildings 2023-04-01 2024-04-30 01041627 d:Buildings 2024-04-30 01041627 d:Buildings 2023-03-31 01041627 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-04-30 01041627 d:MotorVehicles 2023-04-01 2024-04-30 01041627 d:MotorVehicles 2024-04-30 01041627 d:MotorVehicles 2023-03-31 01041627 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-04-30 01041627 d:FurnitureFittings 2023-04-01 2024-04-30 01041627 d:FurnitureFittings 2024-04-30 01041627 d:FurnitureFittings 2023-03-31 01041627 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-04-30 01041627 d:OwnedOrFreeholdAssets 2023-04-01 2024-04-30 01041627 d:CurrentFinancialInstruments 2024-04-30 01041627 d:CurrentFinancialInstruments 2023-03-31 01041627 d:Non-currentFinancialInstruments 2024-04-30 01041627 d:Non-currentFinancialInstruments 2023-03-31 01041627 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 01041627 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01041627 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 01041627 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 01041627 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 01041627 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 01041627 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 01041627 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 01041627 d:ShareCapital 2024-04-30 01041627 d:ShareCapital 2023-03-31 01041627 d:ShareCapital 2022-04-01 01041627 d:RevaluationReserve 2023-04-01 2024-04-30 01041627 d:RevaluationReserve 2024-04-30 01041627 d:RevaluationReserve 2023-03-31 01041627 d:RevaluationReserve 2022-04-01 01041627 d:OtherMiscellaneousReserve 2023-04-01 2024-04-30 01041627 d:OtherMiscellaneousReserve 2024-04-30 01041627 d:OtherMiscellaneousReserve 2023-03-31 01041627 d:OtherMiscellaneousReserve 2022-04-01 01041627 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-04-30 01041627 d:RetainedEarningsAccumulatedLosses 2024-04-30 01041627 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 01041627 d:RetainedEarningsAccumulatedLosses 2023-03-31 01041627 d:RetainedEarningsAccumulatedLosses 2022-04-01 01041627 c:FRS102 2023-04-01 2024-04-30 01041627 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-04-30 01041627 c:FullAccounts 2023-04-01 2024-04-30 01041627 c:PrivateLimitedCompanyLtd 2023-04-01 2024-04-30 01041627 2 2023-04-01 2024-04-30 01041627 5 2023-04-01 2024-04-30 01041627 e:PoundSterling 2023-04-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 01041627










KEVIN KARPETS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 APRIL 2024

 
KEVIN KARPETS LIMITED
REGISTERED NUMBER: 01041627

BALANCE SHEET
AS AT 30 APRIL 2024

30 April
31 March
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
11,544
599,980

  
11,544
599,980

Current assets
  

Stocks
  
29,522
53,745

Debtors: amounts falling due within one year
 5 
27,470
12,408

Cash at bank and in hand
 6 
654,689
22,796

  
711,681
88,949

Creditors: amounts falling due within one year
 7 
(424,111)
(343,934)

Net current assets/(liabilities)
  
 
 
287,570
 
 
(254,985)

Total assets less current liabilities
  
299,114
344,995

Creditors: amounts falling due after more than one year
 8 
(10,834)
(21,667)

  

Net assets
  
288,280
323,328


Capital and reserves
  

Called up share capital 
  
8,850
8,850

Revaluation reserve
  
-
576,756

Other reserves
  
8,115
8,115

Profit and loss account
  
271,315
(270,393)

  
288,280
323,328


Page 1

 
KEVIN KARPETS LIMITED
REGISTERED NUMBER: 01041627

BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 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 period 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 17 February 2025.



................................................
L A Kemp
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 
KEVIN KARPETS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 APRIL 2024


Called up share capital
Revaluation reserve
Other reserves
Profit and loss account
Total equity

£
£
£
£
£


At 1 April 2022
8,850
576,756
8,115
(168,873)
424,848



Loss for the year
-
-
-
(97,061)
(97,061)

Dividends: Equity capital
-
-
-
(4,459)
(4,459)



At 1 April 2023
8,850
576,756
8,115
(270,393)
323,328



Loss for the period
-
-
-
(32,818)
(32,818)

Dividends: Equity capital
-
-
-
(2,230)
(2,230)

Transfer to/from profit and loss account
-
(576,756)
-
576,756
-


At 30 April 2024
8,850
-
8,115
271,315
288,280


The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
KEVIN KARPETS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

1.


General information

Kevin Karpets Limited is a Company limited by shares and registered in England & Wales under number 01041627. Its registered office is 14-16 High Street, West Malling, Kent ME19 6QR.

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

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.

 
2.3

Interest income

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

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Page 4

 
KEVIN KARPETS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.6

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

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.

 
2.8

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:

Freehold property
-
2%
straight line
Motor vehicles
-
25%
Reducing Balance
Fixtures & 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.

Page 5

 
KEVIN KARPETS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.9

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.10

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 balance sheet 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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

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.

Page 6

 
KEVIN KARPETS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

3.


Employees

13 Months to
30 April
Year to
31 March
2024
2023
£
£

Wages and salaries
190,428
200,756

Social security costs
3,311
3,260

Cost of defined contribution scheme
288,917
15,114

482,656
219,130


The average monthly number of employees, including directors, during the period was 9 (2023 - 10).


4.


Tangible fixed assets







Freehold property
Motor vehicles
Fixtures & fittings
Total

£
£
£
£



Cost or valuation


At 1 April 2023
1,000,000
37,283
67,294
1,104,577


Additions
-
13,025
-
13,025


Disposals
(1,000,000)
(23,950)
-
(1,023,950)



At 30 April 2024

-
26,358
67,294
93,652



Depreciation


At 1 April 2023
405,196
32,215
67,186
504,597


Charge for the period on owned assets
20,000
4,230
29
24,259


Disposals
(425,196)
(21,552)
-
(446,748)



At 30 April 2024

-
14,893
67,215
82,108



Net book value



At 30 April 2024
-
11,465
79
11,544



At 31 March 2023
594,804
5,068
108
599,980

Page 7

 
KEVIN KARPETS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

5.


Debtors

30 April
31 March
2024
2023
£
£


Trade debtors
23,470
8,408

Prepayments and accrued income
4,000
4,000

27,470
12,408



6.


Cash and cash equivalents

30 April
31 March
2024
2023
£
£

Cash at bank and in hand
654,689
22,796

Less: bank overdrafts
-
(44,809)

654,689
(22,013)



7.


Creditors: Amounts falling due within one year

30 April
31 March
2024
2023
£
£

Bank overdrafts
-
44,809

Bank loans
10,000
10,000

Payments received on account
35,964
40,140

Trade creditors
42,056
53,669

Corporation tax
86,709
12,042

Other taxation and social security
212,149
109,169

Other creditors
33,983
70,855

Accruals and deferred income
3,250
3,250

424,111
343,934



8.


Creditors: Amounts falling due after more than one year

30 April
31 March
2024
2023
£
£

Bank loans
10,834
21,667


Page 8

 
KEVIN KARPETS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

9.


Loans


Analysis of the maturity of loans is given below:


30 April
31 March
2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000

Amounts falling due 2-5 years

Bank loans
834
11,667


20,834
31,667



10.


Pension commitments

The Company operates defined contributions pension schemes. The assets of the schemes are held separately from those of the Company  in independently administered funds. The pension cost charge represents contributions payable by the Company  to the funds and amounted to £288,917 (2023 - £15,114). Contributions totalling £Nil (2023 - £270) were payable to the funds at the balance sheet date and are included in creditors.


Page 9