2023-09-012024-08-312024-08-31false07580622KATS (STOCKTON) 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KATS (STOCKTON) LTD

Registered Number
07580622
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

KATS (STOCKTON) LTD
Company Information
for the year from 1 September 2023 to 31 August 2024

Director

MASOOD, Tariq

Registered Address

2nd Floor Grove House
55 Lowlands Road
Harrow
HA1 3AW

Registered Number

07580622 (England and Wales)
KATS (STOCKTON) LTD
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets320,00021,667
Tangible assets432,05542,086
52,05563,753
Current assets
Stocks51616
Debtors682,783128,146
Cash at bank and on hand13,1353,874
95,934132,036
Creditors amounts falling due within one year7(304,418)(323,001)
Net current assets (liabilities)(208,484)(190,965)
Total assets less current liabilities(156,429)(127,212)
Net assets(156,429)(127,212)
Capital and reserves
Called up share capital4141
Profit and loss account(156,470)(127,253)
Shareholders' funds(156,429)(127,212)
The financial statements were approved and authorised for issue by the Director on 27 May 2025, and are signed on its behalf by:
MASOOD, Tariq
Director
Registered Company No. 07580622
KATS (STOCKTON) LTD
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Goodwill is the amount paid in connection with the acquisition of the subway store and it was stated at cost. Goodwill is amortised over 15 years straight line. Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year1014
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 September 2325,00025,000
At 31 August 2425,00025,000
Amortisation and impairment
At 01 September 233,3333,333
Charge for year1,6671,667
At 31 August 245,0005,000
Net book value
At 31 August 2420,00020,000
At 31 August 2321,66721,667
4.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Total

££££
Cost or valuation
At 01 September 231,96327,26243,70872,933
At 31 August 241,96327,26243,70872,933
Depreciation and impairment
At 01 September 23-10,19220,65530,847
Charge for year-4,2685,76310,031
At 31 August 24-14,46026,41840,878
Net book value
At 31 August 241,96312,80217,29032,055
At 31 August 231,96317,07023,05342,086
5.Stocks

2024

2023

££
Raw materials and consumables1616
Total1616
6.Debtors: amounts due within one year

2024

2023

££
Amounts owed by group undertakings42,23457,013
Other debtors35,60367,045
Prepayments and accrued income4,9464,088
Total82,783128,146
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables11,0756,061
Amounts owed to related parties276,520283,812
Taxation and social security5,0037,383
Other creditors11,45917,786
Accrued liabilities and deferred income3617,959
Total304,418323,001
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Provisions for liabilities
9.Directors advances, credits and guarantees
Other creditors include a balance of £96 (2023: £17,786) related to the director Mr T Masood.
10.Related party transactions
At the year-end, Amounts owed by/to group undertakings balance include £Nil (2023: £19,779) due from Task (Metro) Ltd and £42,234 (2023: £37,234) due from ATM (North East) Ltd and £119,254 (2023: £135,446) due to SBM (Northern) Ltd and £55,407 (2023: £39,407) due to KTM (North East) Ltd and £97,859 (2023: £98,959) due to TM (Holdings) Ltd and £4,000 (2023: £11,000) due to TSN (NorthEast) Ltd where Mr T Masood is also director of those companies. Other creditors include £11,000 (2023: Nil) due to Lounge (MBR) Ltd