REGISTERED NUMBER: 05610652 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Karonia Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

1,695,553

1,734,448

CURRENT ASSETS

Stocks

5

590,569

440,117

Debtors

6

374,924

497,332

Prepayments and accrued income

43,642

17,593

Cash at bank

128,042

340,992

1,137,177

1,296,034

CREDITORS

Amounts falling due within one year

7

386,623

522,282

NET CURRENT ASSETS

750,554

773,752

TOTAL ASSETS LESS CURRENT LIABILITIES

2,446,107

2,508,200

CREDITORS

Amounts falling due after more than one year

8

(371,194

)

(392,692

)

PROVISIONS FOR LIABILITIES

(61,687

)

(79,263

)

ACCRUALS AND DEFERRED INCOME

(354,300

)

(313,350

)

NET ASSETS

1,658,926

1,722,895

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,658,826

1,722,795

SHAREHOLDERS' FUNDS

1,658,926

1,722,895

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2025 and were signed on its behalf by:

A S Pickup - Director

1.	STATUTORY INFORMATION

Karonia Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

05610652

Registered office:

Ansym Lodge

Water Lane

Eggborough

Goole

DN14 0PN

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover

Turnover represents the value of goods delivered and carriage recharged to customers during the period, excluding VAT.

Revenue is recognised when customers have accepted the goods and an economic inflow to the company is likely.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Short leasehold

-

10% on cost and Over the period of the lease.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

All fixed assets are initially recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Bank loans and finance lease agreements are measured at amortised cost using the effective interest rate.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies

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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

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

Assets obtained under hire purchase contracts are initially recognised at the present value of the future cash payments and are subsequently measured at amortised cost.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payment is treated as a liability.

Pension costs and other post-retirement benefits

The company operates defined contribution pension schemes. Contributions payable to the company's pension schemes are charged to profit or loss in the period to which they relate.

Creditors

Short term creditors are measured at the transaction price.

Debtors

Short term debtors are measured at transaction price, less any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Short

Plant and

property

leasehold

machinery

£

£

£

COST

At 1 January 2024

1,323,597

215,873

1,083,520

Additions

14,550

-

8,438

Disposals

-

-

(35,595

)

At 31 December 2024

1,338,147

215,873

1,056,363

DEPRECIATION

At 1 January 2024

166,784

172,698

665,722

Charge for year

26,637

21,587

104,980

Eliminated on disposal

-

-

(17,971

)

At 31 December 2024

193,421

194,285

752,731

NET BOOK VALUE

At 31 December 2024

1,144,726

21,588

303,632

At 31 December 2023

1,156,813

43,175

417,798

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

251,401

60,685

2,935,076

Additions

157,749

255

180,992

Disposals

(45,447

)

-

(81,042

)

At 31 December 2024

363,703

60,940

3,035,026

DEPRECIATION

At 1 January 2024

142,431

52,993

1,200,628

Charge for year

37,405

1,987

192,596

Eliminated on disposal

(35,780

)

-

(53,751

)

At 31 December 2024

144,056

54,980

1,339,473

NET BOOK VALUE

At 31 December 2024

219,647

5,960

1,695,553

At 31 December 2023

108,970

7,692

1,734,448

5.

STOCKS

31.12.24

31.12.23

£

£

Finished goods

590,569

440,117

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

321,898

413,478

Other debtors

53,026

83,854

374,924

497,332

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

38,000

222,335

Hire purchase contracts (see note 9)

107,207

92,310

Trade creditors

40,190

36,337

Tax

4,771

33,051

Social security and other taxes

13,845

12,809

VAT

155,706

98,214

Other creditors

2,395

1,757

Directors' current accounts

24,509

25,469

386,623

522,282

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans - 1-2 years

38,000

40,966

Bank loans - 2-5 years

95,425

126,000

Bank loans repayable more than 5 years by instalments

-

7,393

Hire purchase contracts (see note 9)

173,388

158,060

Other creditors

64,381

60,273

371,194

392,692

Amounts falling due in more than five years:

Repayable by instalments

Bank loans repayable more than 5 years by instalments

-

7,393

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.12.24

31.12.23

£

£

Net obligations repayable:

Within one year

107,207

92,310

Between one and five years

173,388

158,060

280,595

250,370

Non-cancellable

operating leases

31.12.24

31.12.23

£

£

Within one year

38,250

38,250

Between one and five years

19,125

57,375

57,375

95,625

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank overdraft

-

33,335

Bank loans

171,425

363,359

Hire purchase contracts

280,595

250,370

452,020

647,064

The loans and overdraft are secured by a fixed and floating charge in favour of the bank.

Hire purchase contracts are secured on the assets to which they relate.

11.	RELATED PARTY DISCLOSURES

Rent payable to two shareholders is charged at £38,250 p.a.