Company Registration No. 04232323 (England and Wales)
Katapult Limited
Unaudited accounts
for the year ended 30 June 2024
Katapult Limited
Unaudited accounts
Contents
Katapult Limited
Company Information
for the year ended 30 June 2024
Directors
Dawn Foote
Philip Higgins
Company Number
04232323 (England and Wales)
Registered Office
28 Ashbourne Road
Derby
DE22 3AD
Accountants
Walker Accountancy Limited
2 Marina Drive
Spondon
Derby
DE21 7AF
Katapult Limited
Statement of financial position
as at 30 June 2024
Tangible assets
154,865
119,355
Cash at bank and in hand
816,031
444,563
Creditors: amounts falling due within one year
(660,576)
(229,191)
Net current assets
659,043
621,596
Total assets less current liabilities
816,608
743,651
Creditors: amounts falling due after more than one year
(67,513)
(151,225)
Provisions for liabilities
Deferred tax
(25,506)
(16,623)
Net assets
723,589
575,803
Called up share capital
676
670
Share premium
35,955
35,955
Capital redemption reserve
396
396
Profit and loss account
686,562
538,782
Shareholders' funds
723,589
575,803
For the year ending 30 June 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2025 and were signed on its behalf by
Dawn Foote
Director
Company Registration No. 04232323
Katapult Limited
Notes to the Accounts
for the year ended 30 June 2024
Katapult Limited is a private company, limited by shares, registered in England and Wales, registration number 04232323. The registered office is 28 Ashbourne Road, Derby, DE22 3AD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Over the life of the lease
Plant & machinery
33% and 20% on reducing balance basis
Motor vehicles
20% straight line to residual value
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Katapult Limited
Notes to the Accounts
for the year ended 30 June 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Management is required to use an appropriate pricing model to value the issue of equity to employees or those providing similar services. Any charge to the profit and loss account is therefore a function of the chosen pricing model, which is based on a range of assumptions.
All conditional growth shares issued in the year at nominal value have a hurdle price calculated to be in excess of the current aggregate value of the company attributable to all other share classes. The cost to the company in issuing these shares at par is regarded by the directors to be £0 and therefore in their judgement no charge has been made to the profit and loss in the current period nor will be applicable to future periods.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 July 2023
74,632
205,127
33,326
313,085
Additions
-
15,121
47,930
63,051
Disposals
-
(14,191)
-
(14,191)
At 30 June 2024
74,632
206,057
81,256
361,945
At 1 July 2023
34,640
154,777
4,313
193,730
Charge for the year
5,062
19,553
2,724
27,339
On disposals
-
(13,989)
-
(13,989)
At 30 June 2024
39,702
160,341
7,037
207,080
At 30 June 2024
34,930
45,716
74,219
154,865
At 30 June 2023
39,992
50,350
29,013
119,355
5
Investments
Other investments
Valuation at 1 July 2023
2,700
Valuation at 30 June 2024
2,700
Katapult Limited
Notes to the Accounts
for the year ended 30 June 2024
Amounts falling due within one year
Trade debtors
382,551
274,593
Accrued income and prepayments
96,097
48,884
Other debtors
10,193
82,747
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
84,119
93,831
Trade creditors
101,410
17,377
Taxes and social security
125,069
48,686
Other creditors
282,985
56,205
Loans from directors
750
-
8
Creditors: amounts falling due after more than one year
2024
2023
The bank loans are secured by a fixed and floating charge over the asses of the company.
Allotted, called up and fully paid:
3,330,000 A Shares of £0.0001 each
333.00
333.00
3,330,000 C Shares of £0.0001 each
333.00
333.00
96,654 VN shares of £0.0001 each
9.66
3.62
Shares issued during the period:
60,431 VN shares of £0.0001 each
6.04
10
Operating lease commitments
2024
2023
At 30 June 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
25,752
25,752
Later than one year and not later than five years
103,006
103,006
Later than five years
48,284
74,036
Katapult Limited
Notes to the Accounts
for the year ended 30 June 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's loan
29,318
3,965
34,033
(750)
Director's loan
2,711
20,132
12,868
9,975
32,029
24,097
46,901
9,225
The director's loans are repayable on demand. Interest is charged on amounts due to the company at the official rate of interest.
12
Average number of employees
During the year the average number of employees was 21 (2023: 18).