Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31false2023-08-01management of its own property and consultancy services.33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06326790 2023-08-01 2024-07-31 06326790 2022-08-01 2023-07-31 06326790 2024-07-31 06326790 2023-07-31 06326790 c:Director1 2023-08-01 2024-07-31 06326790 d:Buildings 2024-07-31 06326790 d:Buildings 2023-07-31 06326790 d:Buildings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 06326790 d:OfficeEquipment 2024-07-31 06326790 d:OfficeEquipment 2023-07-31 06326790 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 06326790 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 06326790 d:CurrentFinancialInstruments 2024-07-31 06326790 d:CurrentFinancialInstruments 2023-07-31 06326790 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 06326790 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 06326790 d:ShareCapital 2024-07-31 06326790 d:ShareCapital 2023-07-31 06326790 d:RetainedEarningsAccumulatedLosses 2024-07-31 06326790 d:RetainedEarningsAccumulatedLosses 2023-07-31 06326790 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 06326790 c:FullAccounts 2023-08-01 2024-07-31 06326790 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 06326790 c:Micro-entities 2023-08-01 2024-07-31 06326790 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 06326790










KML ASSOCIATES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
KML ASSOCIATES LIMITED
REGISTERED NUMBER: 06326790

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 2 
379,467
383,392

  
379,467
383,392

Current assets
  

Debtors: amounts falling due within one year
 3 
1,427
33,257

Cash at bank and in hand
  
94,761
43,373

  
96,188
76,630

Creditors: amounts falling due within one year
 4 
(488,723)
(486,509)

Net current liabilities
  
 
 
(392,535)
 
 
(409,879)

Total assets less current liabilities
  
(13,068)
(26,487)

  

Net liabilities
  
(13,068)
(26,487)


Capital and reserves
  

Called up share capital 
  
3
3

Profit and loss account
  
(13,071)
(26,490)

  
(13,068)
(26,487)


Page 1

 
KML ASSOCIATES LIMITED
REGISTERED NUMBER: 06326790
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2024

Notes


Average number of employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

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.

These financial statements have been prepared in accordance with the provisions applicable to entities subject to the micro-entities' regime.

The financial statements have been delivered in accordance with the 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: 




Mr K A Cozens
Director

Date: 3 March 2025

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
KML ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.Accounting policies

 
1.1

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 Financial Reporting Standard 105 the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
1.2

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:

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.

 
1.3

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
Office equipment
-
20%
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 3

 
KML ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.Accounting policies (continued)

 
1.4

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.

 
1.5

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.


Tangible fixed assets





Freehold property
Office equipment
Total

£
£
£



Cost or valuation


At 1 August 2023
392,483
3,841
396,324



At 31 July 2024

392,483
3,841
396,324



Depreciation


At 1 August 2023
9,785
3,147
12,932


Charge for the year on owned assets
3,786
139
3,925



At 31 July 2024

13,571
3,286
16,857



Net book value



At 31 July 2024
378,912
555
379,467



At 31 July 2023
382,698
694
383,392


3.


Debtors

2024
2023
£
£


Amounts owed by associated company
-
32,000

Prepayments and accrued income
1,427
1,257

1,427
33,257
Page 4

 
KML ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

3.Debtors (continued)




4.


Creditors: Amounts falling due within one year

2024
2023
£
£

Directors' loan account
486,563
483,214

Accruals
2,160
3,295

488,723
486,509



5.


Controlling party

The company is under the control of the directors Mr K A Cozens and Mrs M A Cozens by virtue of both of them owning 67% of the issued share capital. 

 
Page 5