Caseware UK (AP4) 2024.0.164 2024.0.164 true2023-07-01falseNo description of principal activity3435trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07021610 2023-07-01 2024-06-30 07021610 2022-07-01 2023-06-30 07021610 2024-06-30 07021610 2023-06-30 07021610 c:Director3 2023-07-01 2024-06-30 07021610 d:Buildings d:ShortLeaseholdAssets 2023-07-01 2024-06-30 07021610 d:Buildings d:ShortLeaseholdAssets 2024-06-30 07021610 d:Buildings d:ShortLeaseholdAssets 2023-06-30 07021610 d:PlantMachinery 2023-07-01 2024-06-30 07021610 d:PlantMachinery 2024-06-30 07021610 d:PlantMachinery 2023-06-30 07021610 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07021610 d:OfficeEquipment 2023-07-01 2024-06-30 07021610 d:OfficeEquipment 2024-06-30 07021610 d:OfficeEquipment 2023-06-30 07021610 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07021610 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07021610 d:CurrentFinancialInstruments 2024-06-30 07021610 d:CurrentFinancialInstruments 2023-06-30 07021610 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 07021610 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 07021610 d:ShareCapital 2024-06-30 07021610 d:ShareCapital 2023-06-30 07021610 d:CapitalRedemptionReserve 2023-07-01 2024-06-30 07021610 d:CapitalRedemptionReserve 2024-06-30 07021610 d:CapitalRedemptionReserve 2023-06-30 07021610 d:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 07021610 d:RetainedEarningsAccumulatedLosses 2024-06-30 07021610 d:RetainedEarningsAccumulatedLosses 2023-06-30 07021610 c:OrdinaryShareClass1 2023-07-01 2024-06-30 07021610 c:OrdinaryShareClass1 2024-06-30 07021610 c:OrdinaryShareClass1 2023-06-30 07021610 c:FRS102 2023-07-01 2024-06-30 07021610 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 07021610 c:FullAccounts 2023-07-01 2024-06-30 07021610 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07021610 2 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07021610










Keepcup Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 30 June 2024

 
Keepcup Limited
Registered number: 07021610

Balance sheet
As at 30 June 2024

2024
2023
As restated
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
147,608

  
-
147,608

Current assets
  

Stocks
 5 
424,924
691,848

Debtors: amounts falling due within one year
 6 
3,712,376
3,149,318

Cash at bank and in hand
  
203,308
555,335

  
4,340,608
4,396,501

Creditors: amounts falling due within one year
 7 
(141,360)
(347,341)

Net current assets
  
 
 
4,199,248
 
 
4,049,160

Total assets less current liabilities
  
4,199,248
4,196,768

  

Net assets
  
4,199,248
4,196,768


Capital and reserves
  

Called up share capital 
 8 
80
80

Capital redemption reserve
 9 
20
20

Profit and loss account
 9 
4,199,148
4,196,668

  
4,199,248
4,196,768


The director considers 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 director acknowledges her 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 statement of comprehensive income 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: 


Mrs A Forsyth
Director
Date: 25 June 2025

The notes on pages 2 to 6 form part of these financial statements.
Page 1

 
Keepcup Limited
 

 
Notes to the financial statements
For the Year Ended 30 June 2024

1.


General information

The company is registered as a private company limited by shares, incorporated and domiciled in England & Wales. The company's registered office is at 27 Capworth Street, London, E10 5AN. 
The company's principal activity during the year continued to be that of the sale of re-useable cups.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

 
2.3

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.

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.

Depreciation is provided on the following basis:

S/Term Leasehold Property
-
Over the period of the lease
Plant & machinery
-
40% per annum on net book value
Office equipment
-
10% per annum on net book value

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.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

At each balance sheet 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.

Page 2

 
Keepcup Limited
 

 
Notes to the financial statements
For the Year Ended 30 June 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.7

Creditors

Short term creditors are measured at the transaction price.

 
2.8

Foreign currency translation

Functional and presentation currency
The company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the relevant month end.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.9

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.

 
2.10

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
Keepcup Limited
 

 
Notes to the financial statements
For the Year Ended 30 June 2024

2.Accounting policies (continued)

 
2.12

Taxation

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 balance sheet date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 34 (2023 - 35).


4.


Tangible fixed assets





S/Term Leasehold Property
Office equipment
Plant & machinery
Total

£
£
£
£



Cost or valuation


At 1 July 2023
95,142
164,535
57,067
316,744


Additions
-
500
-
500



At 30 June 2024

95,142
165,035
57,067
317,244



Depreciation


At 1 July 2023
26,564
94,343
48,229
169,136


Charge for the year on owned assets
68,578
70,692
8,838
148,108



At 30 June 2024

95,142
165,035
57,067
317,244



Net book value



At 30 June 2024
-
-
-
-



At 30 June 2023
68,578
70,192
8,838
147,608


5.


Stocks

2024
2023
£
£

Finished goods
424,924
691,848

424,924
691,848


Page 4

 
Keepcup Limited
 

 
Notes to the financial statements
For the Year Ended 30 June 2024

6.


Debtors

2024
2023
As restated
£
£


Trade debtors
105,674
116,211

Other debtors
3,600,585
3,029,431

Prepayments and accrued income
6,117
3,676

3,712,376
3,149,318



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
166
102,008

Corporation tax
-
28,850

Other taxation and social security
67,577
142,996

Other creditors
26,950
40,762

Accruals and deferred income
46,667
32,725

141,360
347,341



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



80 (2023 - 80) Ordinary shares of £1.00 each
80
80



9.


Reserves

Capital redemption reserve

This reserve records the nominal value of shares repurchased by the company.

Profit & loss account

This reserve comprises all current and prior period retained profits and losses after deducting any distributions.
Share capital
This represents the norminal value of shares that have been issued by the company.

Page 5

 
Keepcup Limited
 

 
Notes to the financial statements
For the Year Ended 30 June 2024

10.


Prior year adjustment

The prior year financial statements have been restated to correct the allocation of costs with Keepcup Pty Limited, a company under common control. The effect has been to increase salary costs and decrease the loan balance with Keepcup Pty Limited by £371,797.
The comparative figures in the primary statements and notes have been restated to reflect this adjustment.


11.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.  The pension cost charge represents contributions payable by the company to the fund and amounted to £6,691 (2023: £13,903).  Contributions totalling £1,576 (2023: £2,884) were payable to the fund at the balance sheet date and are included in 'Other creditors'.


12.


Related party transactions

The company has a trading balance with Keepcup Pty Limited, a company under common control. The balance at 30 June 2024 is £2,952,926 (2023: £2,804,369) and this is included within 'Other debtors'.
The company has an interest free loan to Keepcup US, a company under common control. The balance at 30 June 2024 is £581,540 (2023: £531,131) and this is included within 'Other debtors'.
The company has a loan with S Forsyth, brother of A Forsyth. The loan is for 5 years and accrues interest at 1.5% per annum. The balance at 30 June 2024 is £65,155 (2023: £65,155) and this is included within 'Other debtors'.


13.


Controlling party

The company is under the control of its director, Abigail Forsyth.


Page 6