Company Registration No. 02811619 (England and Wales)
Corbett Keeling Limited
Unaudited accounts
for the year ended 31 July 2024
Corbett Keeling Limited
Unaudited accounts
Contents
Corbett Keeling Limited
Company Information
for the year ended 31 July 2024
Directors
Emma Keeling
James Keeling
Company Number
02811619 (England and Wales)
Registered Office
8 Angel Court
London
Greater London
EC2R 7HP
United Kingdom
Corbett Keeling Limited
Statement of financial position
as at 31 July 2024
Tangible assets
57,222
59,862
Inventories
130,000
130,000
Cash at bank and in hand
1,434,349
276,546
Creditors: amounts falling due within one year
(845,970)
(475,981)
Net current assets
868,656
174,939
Total assets less current liabilities
925,878
234,801
Creditors: amounts falling due after more than one year
(36,667)
(76,671)
Provisions for liabilities
Deferred tax
(13,091)
(11,327)
Net assets
876,120
146,803
Called up share capital
1,020
92,020
Share premium
48,557
48,557
Capital redemption reserve
53
53
Profit and loss account
826,490
6,173
Shareholders' funds
876,120
146,803
For the year ending 31 July 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 18 November 2024 and were signed on its behalf by
Emma Keeling
Director
Company Registration No. 02811619
Corbett Keeling Limited
Notes to the Accounts
for the year ended 31 July 2024
Corbett Keeling Limited is a private company, limited by shares, registered in England and Wales, registration number 02811619. The registered office is 8 Angel Court, London, Greater London, EC2R 7HP, United Kingdom.
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 for goods or services provided in the normal course of business, excluding discounts, rebates, value added tax and other sales taxes.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
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.
Taxation for the year comprises current and deferred tax.
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 balance sheet date.
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.
Current or deferred taxation assets and liabilities are not discounted.
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.
Investments in shares are included at fair value.
Corbett Keeling Limited
Notes to the Accounts
for the year ended 31 July 2024
Work in progress is valued at the cost of direct costs and an appropriate proportion of fixed and variable overheads up to the level that it is probable that the costs will be recovered.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts are shown within borrowings in current liabilities.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including trade and other payables, bank loans and preference shares that are classified as debt, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
Significant judgements and estimates
In calculating the value of work in progress figure at £130k (2023 £130k) The directors take due account of how much of the work has been completed and the likelihood of the successful completion of the transaction.
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 and buildings - 20% on cost
Plant and machinery etc - 33% on reducing balance
Corbett Keeling Limited
Notes to the Accounts
for the year ended 31 July 2024
4
Tangible fixed assets
Plant & machinery
Charge for the year
24,374
Amounts falling due within one year
Trade debtors
71,221
182,732
Accrued income and prepayments
56,831
39,417
Amounts falling due after more than one year
Other debtors
21,625
21,625
6
Investments held as current assets
2024
2023
Unlisted investments
600
600
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
40,000
39,996
Trade creditors
110,169
84,540
Taxes and social security
587,644
175,632
8
Creditors: amounts falling due after more than one year
2024
2023
Corbett Keeling Limited
Notes to the Accounts
for the year ended 31 July 2024
9
Average number of employees
During the year the average number of employees was 11 (2023: 8).