Kapok (1988) Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02209703

KAPOK (1988) LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 March 2025

KAPOK (1988) LTD

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	956,314	1,021,524

Current assets

Stocks		249,687	149,958
Debtors	6	293,381	332,523
Cash at bank and in hand		729,808	665,053
		-------------	-------------
		1,272,876	1,147,534

Creditors: amounts falling due within one year	7	( 312,653)	( 248,417)
		-------------	-------------
Net current assets		960,223	899,117
		-------------	-------------
Total assets less current liabilities		1,916,537	1,920,641

Creditors: amounts falling due after more than one year	8	( 385,250)	( 429,183)

Provisions	( 89,302)	( 104,836)
	-------------	-------------
Net assets	1,441,985	1,386,622
	-------------	-------------

KAPOK (1988) LTD

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

	2025	2024
Note	£	£

Capital and reserves

Called up share capital	250	250
Profit and loss account	1,441,735	1,386,372
	-------------	-------------
Shareholders funds	1,441,985	1,386,622
	-------------	-------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 5 December 2025 , and are signed on behalf of the board by:

R B Annable

Director

Company registration number: 02209703

KAPOK (1988) LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Newton House, Long Bennington Business Park, Long Bennington, Newark, NG23 5JR.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, and in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. No significant judgements or estimates have been made by management in the process of applying the entity's accounting policies that would have a significant effect on the amounts recognised in the financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line, land not depreciated
Plant and machinery	-	33% straight line
Improvements to leasehold property	-	20% straight line
Motor vehicles	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 20 (2024: 18 ).

5. Tangible assets

	Freehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 April 2024	1,002,525	73,985	64,556	238,088	1,379,154
Additions	17,014	24,297	1,081	–	42,392
	-------------	---------	---------	----------	-------------
At 31 March 2025	1,019,539	98,282	65,637	238,088	1,421,546
	-------------	---------	---------	----------	-------------
Depreciation
At 1 April 2024	118,812	57,980	17,092	163,746	357,630
Charge for the year	18,317	17,616	16,736	54,933	107,602
	-------------	---------	---------	----------	-------------
At 31 March 2025	137,129	75,596	33,828	218,679	465,232
	-------------	---------	---------	----------	-------------
Carrying amount
At 31 March 2025	882,410	22,686	31,809	19,409	956,314
	-------------	---------	---------	----------	-------------
At 31 March 2024	883,713	16,005	47,464	74,342	1,021,524
	-------------	---------	---------	----------	-------------

6. Debtors

	2025	2024
	£	£
Trade debtors	219,436	266,086
Other debtors	73,945	66,437
	----------	----------
	293,381	332,523
	----------	----------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	33,500	39,265
Trade creditors	85,684	64,465
Corporation tax	104,325	82,206
Social security and other taxes	21,200	22,501
Other creditors	67,944	39,980
	----------	----------
	312,653	248,417
	----------	----------

Included in creditors: amounts falling due within one year is £33,500 which is secured on Newton House, A1 Business Park, Long Bennington, Notts, NG23 5JR and a fixed and floating charge on the assets of the company.

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	385,250	418,750
Other creditors	–	10,433
	----------	----------
	385,250	429,183
	----------	----------

Included in creditors: amounts falling due after more than one year is £385,250 which is secured on Newton House, A1 Business Park, Long Bennington, Notts, NG23 5JR and a fixed and floating charge on the assets of the company.

Bank loans falling due for payment after more than five years of £251,250 (2024 - £284,750) from the balance sheet date are repayable quarterly and at a market rate of interest.

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	2,723	2,338
	-------	-------

10. Related party transactions

There are no related party transactions to be disclosed under the Financial Reporting Standard 102 Section 1A.