Company Registration No. 02811619 (England and Wales)
Corbett Keeling Limited
Unaudited accounts
for the year ended 31 July 2025
Corbett Keeling Limited
Unaudited accounts
Contents
Corbett Keeling Limited
Company Information
for the year ended 31 July 2025
Directors
Emma Keeling
James Keeling
Company Number
02811619 (England and Wales)
Registered Office
8 Angel Court
London
Greater London
EC2R 7HP
United Kingdom
Corbett Keeling Limited
Statement of financial position
as at 31 July 2025
Intangible assets
34,777
25,295
Tangible assets
27,436
31,927
Inventories
100,000
130,000
Cash at bank and in hand
349,502
1,434,349
Creditors: amounts falling due within one year
(264,051)
(845,970)
Net current assets
362,058
868,656
Total assets less current liabilities
424,271
925,878
Creditors: amounts falling due after more than one year
-
(36,667)
Provisions for liabilities
Deferred tax
(6,859)
(13,091)
Net assets
417,412
876,120
Corbett Keeling Limited
Statement of financial position
as at 31 July 2025 (continued)
Called up share capital
1,020
1,020
Share premium
48,557
48,557
Capital redemption reserve
53
53
Profit and loss account
367,782
826,490
Shareholders' funds
417,412
876,120
For the year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2025 and were signed on its behalf by
James Keeling
Director
Company Registration No. 02811619
Corbett Keeling Limited
Notes to the Accounts
for the year ended 31 July 2025
Corbett Keeling Limited is a private company, limited by shares, registered in England and Wales, registration number 02811619. The registered office is 8 Angel Court, London, Greater London, EC2R 7HP, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ Sterling.
Turnover is measured at the fair value of the consideration received or receivable for goods or services provided in the normal course of business, excluding discounts, rebates, value added tax and other sales taxes.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Taxation for the year comprises current and deferred tax.
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 arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Current or deferred taxation assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Investments in shares are included at fair value.
Corbett Keeling Limited
Notes to the Accounts
for the year ended 31 July 2025
Work in progress is valued at the cost of direct costs and an appropriate proportion of fixed and variable overheads up to the level that it is probable that the costs will be recovered.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts are shown within borrowings in current liabilities.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including trade and other payables, bank loans and preference shares that are classified as debt, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
Significant judgements and estimates
In calculating the value of work in progress figure at £100k (2023 £130k) The directors take due account of how much of the work has been completed and the likelihood of the successful completion of the transaction.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant and machinery etc - 33% on reducing balance
Intangible fixed assets - Software
Intangible fixed assets comprise purchased software and is included at cost less accumulated amortisation.
Software is recognised as an intangible asset when it is probable that the expected future economic benefits attributable to the asset will flow to the company and the cost of the asset can be measured reliably.
Software is initially measured at cost and is subsequently carried at cost less accumulated amortisation and any accumulated impairment losses.
Software is amortised on a straight-line basis over its estimated useful economic life of 4 years
The carrying value of software is reviewed for indicators of impairment at each reporting date in accordance with FRS 102 Section 27. Any impairment losses are recognised in the profit and loss account.
Gains or losses arising on the disposal of software are recognised in the profit and loss account in the period in which the disposal occurs.
Corbett Keeling Limited
Notes to the Accounts
for the year ended 31 July 2025
Expenditure on research and development is written off in the year in which it is incurred except where the cost incurred relates to software, is measurable and has future economic benefits. In this instance it is capitalised under intangible assets and amortized in line with other software costs included under intangible assets
4
Intangible fixed assets
Other
Charge for the year
10,890
Other increase/(decrease)
9,937
During the year ended 31 July 2025, the company identified that certain software costs previously included within tangible fixed assets should have been classified as intangible assets in accordance with FRS 102 Section 18 (Intangible Assets other than Goodwill).
The comparative figures for the year ended 31 July 2024 have been restated to correct this classification. The correction affects the presentation of assets and related depreciation/amortisation only and has no impact on total assets, total equity, or profit for the year.
The effect of the restatement is summarised below:
Tangible Intangible
Fixed Assets Fixed Assets
As previously stated 31 July 2024 £57,222 £0
Adjustment (£25,295) £25,295
As restated 31 July 2024 £31,927 £25,295
Management has reviewed its accounting policies and procedures to ensure that future software expenditures are correctly classified as intangible assets where appropriate.
Corbett Keeling Limited
Notes to the Accounts
for the year ended 31 July 2025
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Tangible fixed assets
Plant & machinery
Charge for the year
11,831
Amounts falling due within one year
Trade debtors
122,992
71,221
Accrued income and prepayments
31,990
56,831
Amounts falling due after more than one year
Other debtors
21,625
21,625
7
Investments held as current assets
2025
2024
Unlisted investments
-
600
8
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
36,667
40,000
Trade creditors
28,095
110,169
Taxes and social security
104,695
587,644
9
Creditors: amounts falling due after more than one year
2025
2024
Corbett Keeling Limited
Notes to the Accounts
for the year ended 31 July 2025
10
Average number of employees
During the year the average number of employees was 11 (2024: 11).