Kelvin Cave Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01706353 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Kelvin Cave Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K Cave

Mrs B A Cave

I G Hall

M Carpenter

SECRETARY:

Mrs B A Cave

REGISTERED OFFICE:

Roe Deer Farm

Drayton

Langport

Somerset

TA10 0LP

REGISTERED NUMBER:

01706353 (England and Wales)

ACCOUNTANTS:

Edward Howells Associates Limited

Chartered Certified Accountants

20a High Street

Glastonbury

Somerset

BA6 9DU

BANKERS:

Lloyds TSB

5 High Street

Shepton Mallet

Somerset

BA5 5AA

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

336,541

334,370

336,541

334,370

CURRENT ASSETS

Stocks

1,608,551

1,064,960

Debtors

6

1,086,525

769,637

Cash at bank

766,849

732,692

3,461,925

2,567,289

CREDITORS

Amounts falling due within one year

7

2,069,326

1,380,549

NET CURRENT ASSETS

1,392,599

1,186,740

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,729,140

1,521,110

CREDITORS

Amounts falling due after more than one
year

8

(8,021

)

(36,771

)

PROVISIONS FOR LIABILITIES

(73,237

)

(71,055

)

NET ASSETS

1,647,882

1,413,284

CAPITAL AND RESERVES

Called up share capital

33,500

Share premium

29,684

Retained earnings

1,584,698

1,350,100

SHAREHOLDERS' FUNDS

1,647,882

1,413,284

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 December 2025 and were signed on its behalf by:

K Cave - Director

1.	STATUTORY INFORMATION

Kelvin Cave Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Milk Quota are being amortised evenly over their estimated useful life of nil years.

Milk quota

Milk quota is held at its initial purchase cost and is amortised over its remaining life on a straight line basis. The rate of amortisation is such that the cost will be eliminated by the year 2005.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

over the term of the lease

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Research and development

Development costs are amortised over 5 years on a straight line basis.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

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.

Pension costs and other post-retirement benefits

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2024 - 17 ) .

4.	INTANGIBLE FIXED ASSETS

Research

Milk

& Development

Quota

Totals

£

COST

At 1 April 2024

and 31 March 2025

22,980

7,220

30,200

AMORTISATION

At 1 April 2024

and 31 March 2025

22,980

7,220

30,200

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Short

Plant and

Motor

leasehold

machinery

vehicles

Totals

£

COST

At 1 April 2024

463,740

586,775

325,301

1,375,816

Additions

-

6,401

151,597

157,998

Disposals

-

(109,969

)

(109,969

)

At 31 March 2025

463,740

593,176

366,929

1,423,845

DEPRECIATION

At 1 April 2024

456,745

449,094

135,607

1,041,446

Charge for year

3,962

35,250

38,883

78,095

Eliminated on disposal

-

(32,237

)

(32,237

)

At 31 March 2025

460,707

484,344

142,253

1,087,304

NET BOOK VALUE

At 31 March 2025

3,033

108,832

224,676

336,541

At 31 March 2024

6,995

137,681

189,694

334,370

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 April 2024

and 31 March 2025

85,000

DEPRECIATION

At 1 April 2024

33,204

Charge for year

12,949

At 31 March 2025

46,153

NET BOOK VALUE

At 31 March 2025

38,847

At 31 March 2024

51,796

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

914,868

763,467

Other debtors

157,000

-

Prepayments

14,657

6,170

1,086,525

769,637

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Bank loans and overdrafts

10,000

Hire purchase contracts

18,750

Trade creditors

1,664,296

1,034,298

Tax

78,984

77,163

Social security and other taxes

35,138

33,688

VAT

215,367

116,733

Directors' current accounts

41,053

80,167

Accrued expenses

5,738

9,750

2,069,326

1,380,549

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.25

31.3.24

£

Bank loans - 1-2 years

3,333

10,000

Bank loans - 2-5 years

-

3,333

Hire purchase contracts

4,688

23,438

8,021

36,771

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

Bank loans

13,333

23,333

The bank borrowing is secured by :-

a. The joint and several guarantee of K & BA Cave in the sum of £1,000,000.

b. Unlimited debenture in the Bank's Standard Form.