Company registration number 04007786 (England and Wales)
THE KAIZEN PARTNERSHIP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
THE KAIZEN PARTNERSHIP LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
THE KAIZEN PARTNERSHIP LIMITED
BALANCE SHEET
AS AT 31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,331
1,545
Current assets
Debtors
4
121,802
116,018
Cash at bank and in hand
113,786
208,610
235,588
324,628
Creditors: amounts falling due within one year
5
(63,304)
(159,324)
Net current assets
172,284
165,304
Net assets
173,615
166,849
Capital and reserves
Called up share capital
6
104
104
Profit and loss reserves
173,511
166,745
Total equity
173,615
166,849

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 24 February 2025 and are signed on its behalf by:
J M Zander
N H Zander
Director
Director
Company registration number 04007786 (England and Wales)
THE KAIZEN PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
1
Accounting policies
Company information

THE KAIZEN PARTNERSHIP LIMITED is a private company limited by shares incorporated in England and Wales. The registered office is 22a Cliff Villas, London, NW1 9AT.

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 pound.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT, other sales related taxes and trade discounts.

 

1.3
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:

Fixtures, fittings & equipment
25% reducing balance
Computer equipment
25% straight line

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.

1.4
Impairment of fixed assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered a material impairment loss. If a material impairment loss arises then it is recognised in the profit and loss account or against the revaluation reserve if the asset has been revalued.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ 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.

THE KAIZEN PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

 

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.8
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. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

1.9
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

THE KAIZEN PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
17
15
3
Tangible fixed assets
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
Cost
At 1 June 2023
4,358
3,076
7,434
Additions
-
0
502
502
At 31 May 2024
4,358
3,578
7,936
Depreciation and impairment
At 1 June 2023
4,318
1,571
5,889
Depreciation charged in the year
30
686
716
At 31 May 2024
4,348
2,257
6,605
Carrying amount
At 31 May 2024
10
1,321
1,331
At 31 May 2023
40
1,505
1,545
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
16,164
34,148
Other debtors
105,638
81,870
121,802
116,018
THE KAIZEN PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
1,659
3,907
Other taxation and social security
31,242
38,343
Other creditors
30,403
117,074
63,304
159,324
6
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
104 ordinary shares of £1 each
104
104
2024-05-312023-06-01falsefalsefalse25 February 2025CCH SoftwareCCH Accounts Production 2024.310No description of principal activityJ M ZanderN H ZanderD M Prewer040077862023-06-012024-05-31040077862024-05-31040077862023-05-3104007786core:FurnitureFittings2024-05-3104007786core:ComputerEquipment2024-05-3104007786core:FurnitureFittings2023-05-3104007786core:ComputerEquipment2023-05-3104007786core:CurrentFinancialInstrumentscore:WithinOneYear2024-05-3104007786core:CurrentFinancialInstrumentscore:WithinOneYear2023-05-3104007786core:CurrentFinancialInstruments2024-05-3104007786core:CurrentFinancialInstruments2023-05-3104007786core:ShareCapital2024-05-3104007786core:ShareCapital2023-05-3104007786core:RetainedEarningsAccumulatedLosses2024-05-3104007786core:RetainedEarningsAccumulatedLosses2023-05-3104007786bus:Director12023-06-012024-05-3104007786bus:Director22023-06-012024-05-3104007786core:FurnitureFittings2023-06-012024-05-3104007786core:ComputerEquipment2023-06-012024-05-31040077862022-06-012023-05-3104007786core:FurnitureFittings2023-05-3104007786core:ComputerEquipment2023-05-31040077862023-05-3104007786core:WithinOneYear2024-05-3104007786core:WithinOneYear2023-05-3104007786bus:PrivateLimitedCompanyLtd2023-06-012024-05-3104007786bus:FRS1022023-06-012024-05-3104007786bus:AuditExemptWithAccountantsReport2023-06-012024-05-3104007786bus:CompanySecretary12023-06-012024-05-3104007786bus:SmallCompaniesRegimeForAccounts2023-06-012024-05-3104007786bus:FullAccounts2023-06-012024-05-31xbrli:purexbrli:sharesiso4217:GBP