Caseware UK (AP4) 2024.0.164 2024.0.164 2024-10-312024-10-310true2023-11-0127truefalseNo description of principal activity31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03781990 2023-11-01 2024-10-31 03781990 2022-11-01 2023-10-31 03781990 2024-10-31 03781990 2023-10-31 03781990 2022-11-01 03781990 c:CompanySecretary1 2023-11-01 2024-10-31 03781990 c:Director1 2023-11-01 2024-10-31 03781990 c:RegisteredOffice 2023-11-01 2024-10-31 03781990 d:Buildings d:ShortLeaseholdAssets 2023-11-01 2024-10-31 03781990 d:Buildings d:ShortLeaseholdAssets 2024-10-31 03781990 d:Buildings d:ShortLeaseholdAssets 2023-10-31 03781990 d:MotorVehicles 2023-11-01 2024-10-31 03781990 d:MotorVehicles 2024-10-31 03781990 d:MotorVehicles 2023-10-31 03781990 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 03781990 d:FurnitureFittings 2023-11-01 2024-10-31 03781990 d:FurnitureFittings 2024-10-31 03781990 d:FurnitureFittings 2023-10-31 03781990 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 03781990 d:ComputerEquipment 2023-11-01 2024-10-31 03781990 d:ComputerEquipment 2024-10-31 03781990 d:ComputerEquipment 2023-10-31 03781990 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 03781990 d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 03781990 d:ComputerSoftware 2024-10-31 03781990 d:ComputerSoftware 2023-10-31 03781990 d:OtherResidualIntangibleAssets 2023-11-01 2024-10-31 03781990 d:CurrentFinancialInstruments 2024-10-31 03781990 d:CurrentFinancialInstruments 2023-10-31 03781990 d:Non-currentFinancialInstruments 2024-10-31 03781990 d:Non-currentFinancialInstruments 2023-10-31 03781990 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 03781990 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 03781990 d:Non-currentFinancialInstruments d:AfterOneYear 2024-10-31 03781990 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 03781990 d:ShareCapital 2024-10-31 03781990 d:ShareCapital 2023-10-31 03781990 d:RetainedEarningsAccumulatedLosses 2024-10-31 03781990 d:RetainedEarningsAccumulatedLosses 2023-10-31 03781990 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-11-01 2024-10-31 03781990 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-10-31 03781990 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-10-31 03781990 c:OrdinaryShareClass1 2023-11-01 2024-10-31 03781990 c:OrdinaryShareClass1 2024-10-31 03781990 c:OrdinaryShareClass1 2023-10-31 03781990 c:FRS102 2023-11-01 2024-10-31 03781990 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 03781990 c:FullAccounts 2023-11-01 2024-10-31 03781990 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 03781990 d:WithinOneYear 2024-10-31 03781990 d:WithinOneYear 2023-10-31 03781990 d:BetweenOneFiveYears 2024-10-31 03781990 d:BetweenOneFiveYears 2023-10-31 03781990 d:MoreThanFiveYears 2024-10-31 03781990 d:MoreThanFiveYears 2023-10-31 03781990 d:HirePurchaseContracts d:WithinOneYear 2024-10-31 03781990 d:HirePurchaseContracts d:WithinOneYear 2023-10-31 03781990 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-10-31 03781990 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-10-31 03781990 1 2023-11-01 2024-10-31 03781990 2 2023-11-01 2024-10-31 03781990 6 2023-11-01 2024-10-31 03781990 d:AcceleratedTaxDepreciationDeferredTax 2024-10-31 03781990 d:AcceleratedTaxDepreciationDeferredTax 2023-10-31 03781990 d:RetirementBenefitObligationsDeferredTax 2024-10-31 03781990 d:RetirementBenefitObligationsDeferredTax 2023-10-31 03781990 d:ComputerSoftware d:OwnedIntangibleAssets 2023-11-01 2024-10-31 03781990 e:PoundSterling 2023-11-01 2024-10-31 03781990 d:PreviouslyStatedAmount 2023-10-31 03781990 d:Buildings d:ShortLeaseholdAssets d:PreviouslyStatedAmount 2023-10-31 03781990 d:Buildings d:ShortLeaseholdAssets d:PriorPeriodIncreaseDecrease 2023-10-31 03781990 d:MotorVehicles d:PriorPeriodIncreaseDecrease 2023-10-31 03781990 d:FurnitureFittings d:PriorPeriodIncreaseDecrease 2023-10-31 03781990 d:ComputerEquipment d:PriorPeriodIncreaseDecrease 2023-10-31 03781990 d:PriorPeriodIncreaseDecrease 2023-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03781990









K2 GLOBAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
K2 GLOBAL LIMITED
 
 
COMPANY INFORMATION


Director
N S Blackledge 




Company secretary
M Maidment



Registered number
03781990



Registered office
1010 Eskdale Road

Winnersh Triangle

Wokingham

United Kingdom

RG41 5TS




Trading Address
Unit A
Boyn Valley Industrial Estate

Boyn Valley Road

Maidenhead

Berkshire

SL6 4EJ






Accountants
Donald Reid Limited

1010 Eskdale Road

Winnersh

Wokingham

United Kingdom

RG41 5TS





 
K2 GLOBAL LIMITED
 

CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 15


 
K2 GLOBAL LIMITED
REGISTERED NUMBER: 03781990

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
As restated 2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
42,083
58,533

Tangible assets
 5 
347,390
358,703

Investments
 6 
102,000
102,000

  
491,473
519,236

Current assets
  

Stocks
 7 
618,663
401,440

Debtors: amounts falling due after more than one year
 8 
79,214
74,910

Debtors: amounts falling due within one year
 8 
1,777,139
2,853,490

Cash at bank and in hand
 9 
2,225,906
1,561,328

  
4,700,922
4,891,168

Creditors: amounts falling due within one year
 10 
(2,342,414)
(1,887,833)

Net current assets
  
 
 
2,358,508
 
 
3,003,335

Total assets less current liabilities
  
2,849,981
3,522,571

Creditors: amounts falling due after more than one year
 11 
(42,734)
(57,571)

Provisions for liabilities
  

Deferred tax
 13 
(36,961)
(16,877)

Other provisions
 14 
(210,027)
(200,702)

  
 
 
(246,988)
 
 
(217,579)

Net assets
  
2,560,259
3,247,421


Capital and reserves
  

Called up share capital 
 15 
2
2

Profit and loss account
  
2,560,257
3,247,419

  
2,560,259
3,247,421


Page 1

 
K2 GLOBAL LIMITED
REGISTERED NUMBER: 03781990
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

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 his 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 income and retained earnings 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 on 29 July 2025.




N S Blackledge
Director

Page 2

 
K2 GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

K2 Global Limited is a private company limited by shares. The company was incorporated in the United Kingdom and is registered in England and Wales.The company's registration number is 03781990. The registered office is 1010 Eskdale Road, Winnersh Triangle, Wokingham, United Kingdom, RG41 5TS.

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

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

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 dates of the transactions.

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
K2 GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.4

Revenue

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

Sale of goods

Revenue 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 revenue 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.

 
2.5

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Sale and leaseback

Where a sale and leaseback transaction results in a finance lease, no gain is immediately recognised for any excess of sales proceeds over the carrying amount of the asset. Instead, the proceeds are presented as a liability and subsequently measured at amortised cost using the effective interest method.
When a sale and leaseback transaction results in an operating lease, and it is clear that the transition is established at fair value any profit or loss is recognised immediately. If the sale price is below fair value, any profit or loss is recognised immediately unless the loss is compensated for by the future lease payments at below market price. In that case any such loss is amortised in proportion to the lease payments over the period for which the asset is expected to be used. If the sale price is above fair value, the excess over fair value is amortised over the period for which the asset is expected to be used.

 
2.7

Interest income

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

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
K2 GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
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

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 balance sheet 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 balance sheet 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 balance sheet date.


Page 5

 
K2 GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.12

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Software Costs
-
5 years

 
2.13

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, using the straight-line and reducing balance methods.

Depreciation is provided on the following basis:

S/Term Leasehold Property
-
Over the term of the lease
Motor vehicles
-
25% reducing balance
Fixtures & fittings
-
10% reducing balance; 20% straight line
Computer equipment
-
33% straight line

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.

 
2.14

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.15

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 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 6

 
K2 GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.16

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.

 
2.17

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.

 
2.18

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.

 
2.19

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.

 
2.20

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.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
31
27

Page 7

 
K2 GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Intangible assets




Computer software

£



Cost


At 1 November 2023
82,250



At 31 October 2024

82,250



Amortisation


At 1 November 2023
23,717


Charge for the year on owned assets
16,450



At 31 October 2024

40,167



Net book value



At 31 October 2024
42,083



At 31 October 2023
58,533



Page 8

 
K2 GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Tangible fixed assets





S/Term Leasehold Property
Motor vehicles
Fixtures & fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 November 2023 (as previously stated)
269,132
130,450
54,775
57,919
512,276


Prior Year Adjustment
178,247
-
-
-
178,247


At 1 November 2023 (as restated)
447,379
130,450
54,775
57,919
690,523


Additions
-
87,434
-
-
87,434



At 31 October 2024

447,379
217,884
54,775
57,919
777,957



Depreciation


At 1 November 2023 (as previously stated)
104,799
74,455
47,163
46,900
273,317


Prior Year Adjustment
58,503
-
-
-
58,503


At 1 November 2023 (as restated)
163,302
74,455
47,163
46,900
331,820


Charge for the year on owned assets
70,774
21,801
1,864
4,308
98,747



At 31 October 2024

234,076
96,256
49,027
51,208
430,567



Net book value



At 31 October 2024
213,303
121,628
5,748
6,711
347,390



As restated
At 31 October 2023
284,077
55,995
7,612
11,019
358,703

Page 9

 
K2 GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


Fixed asset investments





Investments in subsidiary companies
Other fixed asset investments
Total

£
£
£



Cost or valuation


At 1 November 2023
100,000
2,000
102,000



At 31 October 2024
100,000
2,000
102,000





7.


Stocks

2024
2023
£
£

Finished goods and goods for resale
618,663
401,440

618,663
401,440



8.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
79,214
74,910

79,214
74,910


2024
2023
£
£

Due within one year

Trade debtors
1,184,282
1,136,330

Other debtors
118,260
1,236,806

Prepayments and accrued income
45,877
51,634

Tax recoverable
428,720
428,720

1,777,139
2,853,490


Page 10

 
K2 GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,225,906
1,561,328

Less: bank overdrafts
(11,826)
(19,353)

2,214,080
1,541,975



10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
11,826
19,353

Trade creditors
448,452
456,279

Amounts owed to group undertakings
1,137,715
1,092,372

Corporation tax
259,352
25,848

Other taxation and social security
240,006
193,113

Obligations under finance lease and hire purchase contracts
14,837
11,186

Other creditors
2,659
3,737

Accruals and deferred income
227,567
85,945

2,342,414
1,887,833



11.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
42,734
57,571

42,734
57,571


Page 11

 
K2 GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

12.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
14,837
11,186

Between 1-5 years
42,734
57,571

57,571
68,757

Page 12

 
K2 GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

13.


Deferred taxation




2024
2023


£

£






At beginning of year
(16,877)
-


Charged to profit or loss
(20,084)
(16,877)



At end of year
(36,961)
(16,877)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(37,210)
(17,145)

Pension surplus
249
268

(36,961)
(16,877)


14.


Provisions




Provisions

£





At 1 November 2023
200,702


Charged to profit or loss
13,740


Utilised in year
(4,415)



At 31 October 2024
210,027

The provision relates to dilapidations required at the end of the company's tenancy lease.


15.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2


Page 13

 
K2 GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

16.


Prior year adjustment

The prior year comparatives have been restated to reflect a provision for dilapidations, representing the estimated costs required to remove leasehold improvements carried out in the year ended 31 October 2022 at the end of the lease term. The provision has been recognised at the point when the leasehold improvements were undertaken, in accordance with the associated obligation.
Year ended 31 October 2022
As a result of this restatement, an asset of £178,247 was recognised, representing the estimated cost of dismantling the leasehold improvements, with a corresponding provision of the same amount. Depreciation of £14,854 was charged to the profit and loss account during the year ended 31 October 2022, along with a finance cost of £5,199 arising from the unwinding of the discount on the provision.
These adjustments resulted in the following impact as at 1 November 2022:
- Increase in the net book value of fixed assets: £163,393
- Increase in provisions: £183,446
- Decrease in retained earnings: £20,053
Year ended 31 October 2023
For the year ended 31 October 2023, further depreciation of £35,649 was charged to the profit and loss account, alongside a finance cost of £12,841.
These adjustments resulted in the following impact as at 1 November 2023:
- Increase in the net book value of fixed assets: £127,744
- Increase in provisions: £196,287
- Decrease in retained earnings: £68,543



17.


Pension commitments

The Company operates a defined contributions 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 £12,662 (2023: £10,276).
Contributions totalling £2,659 (
2023: £2,892) were payable to the fund at the balance sheet date and are
included in creditors.

Page 14

 
K2 GLOBAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

18.


Commitments under operating leases

At 31 October 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
200,556
200,556

Later than 1 year and not later than 5 years
802,224
802,224

Later than 5 years
509,747
710,303

1,512,527
1,713,083


19.


Transactions with directors

During the year, advances were made to a director totalling £99,657 (2023: £80,417). There were also repayments totalling £1,270,000 (2023: £81,333) Interest was charged on the overdrawn loan account at the official rate.


20.


Related party transactions

The company has taken advantage of the exemption allowed by FRS 102 not to disclose transactions with wholly owned members of the group.
At the year end, included in other debtors is an amount of £99,022 
(As restated 2023: £1,269,365) owed by the director to the company.

 
Page 15