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Registered number: 05320689










KEMKAY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

 
KEMKAY LIMITED
REGISTERED NUMBER: 05320689

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025

2025
2024
£
£

Fixed assets
  

Tangible assets
 4 
89,334
98,477

  
89,334
98,477

Current assets
  

Stocks
  
42,973
50,876

Debtors: amounts falling due within one year
 5 
69,201
68,322

Bank & cash balances
  
638
25,102

  
112,812
144,300

Creditors: amounts falling due within one year
 6 
(170,016)
(187,479)

Net current liabilities
  
 
 
(57,204)
 
 
(43,179)

Total assets less current liabilities
  
32,130
55,298

Creditors: amounts falling due after more than one year
 7 
(23,785)
(47,335)

Provisions for liabilities
  

Deferred tax
  
(5,833)
(5,752)

  
 
 
(5,833)
 
 
(5,752)

Net assets
  
2,512
2,211


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
1,512
1,211

  
2,512
2,211


Page 1

 
KEMKAY LIMITED
REGISTERED NUMBER: 05320689
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2025

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.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with 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 A Coker
Director
Date: 10 June 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
KEMKAY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Kemkay Limited is a private company, limited by share capital, incorporated in England and Wales under registration number 05320689. The address of the registered office is 3 Clifton Buildings, Avenue Road, Freshwater, Isle of Wight PO40 9UT. 

2.Accounting policies

 
2.1

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover 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 turnover 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.

Page 3

 
KEMKAY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.5

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.

Page 4

 
KEMKAY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

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 for fixtures and fittings and straight line basis for freehold property. .

Depreciation is provided on the following basis:

Freehold property
-
2% straight line
Fixtures and fittings
-
25% 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.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

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.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

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.

Page 5

 
KEMKAY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Intangible assets



Goodwill

£



Cost


At 1 April 2024
235,869



At 31 March 2025

235,869



Amortisation


At 1 April 2024
235,869



At 31 March 2025

235,869



Net book value



At 31 March 2025
-



At 31 March 2024
-



Page 6

 
KEMKAY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

4.


Tangible fixed assets





Freehold property
Fixtures & fittings
Total

£
£
£



Cost or valuation


At 1 April 2024
110,000
235,732
345,732


Additions
-
835
835



At 31 March 2025

110,000
236,567
346,567



Depreciation


At 1 April 2024
41,800
205,455
247,255


Charge for the year on owned assets
2,200
7,778
9,978



At 31 March 2025

44,000
213,233
257,233



Net book value



At 31 March 2025
66,000
23,334
89,334



At 31 March 2024
68,200
30,277
98,477


5.


Debtors

2025
2024
£
£


Trade debtors
51,918
57,747

VAT repayable
15,961
9,654

Prepayments
1,322
921

69,201
68,322


Page 7

 
KEMKAY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

6.


Creditors: Amounts falling due within one year

2025
2024
£
£

Bank loan
22,389
16,979

Bank overdrafts
5,407
-

Trade creditors
66,753
101,113

Corporation tax
10,142
10,191

Pension payable
134
-

Directors' loan account
65,191
59,196

170,016
187,479


The bank loan is secured by a fixed and floating charge over the assets of the company.


7.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Bank loan
23,785
47,335

23,785
47,335


The bank loan is secured by a fixed and floating charge over the assets of the company.


8.


Controlling party

The company was under the control of the directors Mr Archibald Coker (50% share) and Mrs Olukemi Coker (50% share), by virtue of the fact that between them they own 100% of the issued share capital.  

 
Page 8