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Registered Number: 04080821
England and Wales

 

 

 

KAIZEN SYSTEMS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 13,203    2,635 
Investments 4 10,000   
23,203    2,635 
Current assets      
Debtors 139,794    75,487 
Cash at bank and in hand 73,838    121,292 
213,632    196,779 
Creditors: amount falling due within one year (73,373)   (78,256)
Net current assets 140,259    118,523 
 
Total assets less current liabilities 163,462    121,158 
Provisions for liabilities (3,249)  
Net assets 160,213    121,158 
 

Capital and reserves
     
Called up share capital 133    133 
Profit and loss account 160,080    121,025 
Shareholders' funds 160,213    121,158 
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 23 April 2025 and were signed on its behalf by:


-------------------------------
Mr R P J Winnett
Director
1
General Information
Kaizen Systems Limited is a private company, limited by shares, registered in England and Wales, registration number 04080821, registration address 9 Kay Mews, Fore Street, Tintagel, Cornwall, PL34 0EE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern
The accounts are prepared on a going concern basis. The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year and and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:


Computer Equipment - 33% on cost
Motor Vehicle - 20% on cost


At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in profit or loss.


If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
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 costs using the effective interest method, less any impairment.
Creditors
Short term creditors are measured at the transaction price.  Other financial liabilities are measured initially at fair value, net of transaction costs and are measured subsequently at amortised costs using the effective interest method.
2.

Average number of employees

Average number of employees during the year was 4 (2023 : 4).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Computer Equipment   Total
  £   £   £
At 01 January 2024   6,498    6,498 
Additions 11,995    1,403    13,398 
Disposals    
At 31 December 2024 11,995    7,901    19,896 
Depreciation
At 01 January 2024   3,863    3,863 
Charge for year 1,230    1,600    2,830 
On disposals    
At 31 December 2024 1,230    5,463    6,693 
Net book values
Closing balance as at 31 December 2024 10,765    2,438    13,203 
Opening balance as at 01 January 2024   2,635    2,635 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 January 2024  
Additions 10,000    10,000 
Transfer to/from tangible fixed assets  
Disposals  
At 31 December 2024 10,000    10,000 

5.

Advances and Credits



Director's Advances, Credits and Guarantees
The following advances and credits to the director R Winnett subsisted during the years ended 31 December 2024 and 31 December 2023.

Current year (2024)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
Director's Advances, Credits and Guarantees59,620 59,624 
459620059624000
Previous year (2023)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
Director's Advances, Credits and Guarantees(9,750)52,450 42,696 
-975052450042696004
6.

Director’s loan

Director's Advances, Credits and Guarantees

At the balance sheet date, the following balances existed on loan accounts with the directors':

J F Winnett £6,000 (2023 - £Nil in credit)

I K Brewis £Nil in credit (2023 - £26,400 in credit)

The above loans are interest free with no fixed date for repayment.
7.

Debtors: amounts falling due within one year

.   2024
£
  2023
£
Trade debtors 115,188  73,491 
Amount owed by group undertakings 21,675 
Prepayments & accrued income 2,665  1,868 
Other debtors 128 
PAYE & social security 266 
139,794  75,487 

8.

Creditors: amounts falling due within one year

.   2024
£
  2023
£
Trade creditors 4,362  2,190 
Corporation tax 31,462  33,573 
Accrued expenses 14,988  3,290 
Other creditors 2,910  1,402 
Directors' current accounts 6,000  26,396 
VAT 13,651  11,405 
73,373  78,256 

9.

Provisions for liabilities

.   2024
£
  2023
£
Deferred Tax 3,249 
3,249 

10.

Ultimate Controlling Party

The company's ultimate controlling party is R Winnett & Mrs J Winnett by virtue of their joint ownership of 76.92% of the issued share capital in the company.


2