Kagool Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06983644

Kagool Ltd

Filleted Unaudited Financial Statements

31 July 2024

Kagool Ltd

Statement of Financial Position

31 July 2024

	31 Jul 24		31 Aug 23
Note	£	£	£

Fixed Assets

Intangible assets	5	471,488	–
Tangible assets	6	82,314	464
Investments	7	30,002	–
		----------	----
		583,804	464

Current Assets

Debtors	8	3,632,810	–
Cash at bank and in hand		16,477	5
		-------------	----
		3,649,287	5

Creditors: amounts falling due within one year	9	( 4,955,274)		( 26,674)
		-------------		---------
Net Current Liabilities			( 1,305,987)	( 26,669)
			-------------	---------
Total Assets Less Current Liabilities			( 722,183)	( 26,205)

Creditors: amounts falling due after more than one year	10	( 60,282)	( 22,383)
		----------	---------
Net Liabilities		( 782,465)	( 48,588)
		----------	---------

Capital and Reserves

Called up share capital	11	100	5
Profit and loss account		( 782,565)	( 48,593)
		----------	---------
Shareholders Deficit		( 782,465)	( 48,588)
		----------	---------

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 comprehensive income has not been delivered.

For the period ending 31st July 2024 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 period 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 .

Kagool Ltd

Statement of Financial Position (continued)

31 July 2024

These financial statements were approved by the board of directors and authorised for issue on 8 January 2026 , and are signed on behalf of the board by:

Mr D Barlow

Director

Company registration number: 06983644

Kagool Ltd

Notes to the Financial Statements

Period from 1st September 2023 to 31st July 2024

1. General Information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Rum Runner Works, Regency Wharf, Birmingham, B1 2DS.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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.

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. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

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.

Foreign Currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Plant & Machinery	-	33% reducing balance
Equipment	-	15% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in Associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Financial Instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, which the transaction is measured at the present value of the future receipts discounted at market rate of interest. Financial assets classified as receivable within one year are not amortised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors 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. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee Numbers

The average number of persons employed by the company during the period amounted to 71 (2023: 1 ).

5. Intangible Assets

	Goodwill
	£
Cost
Additions	509,717
	----------
At 31st July 2024	509,717
	----------
Amortisation
Charge for the period	38,229
	----------
At 31st July 2024	38,229
	----------
Carrying amount
At 31st July 2024	471,488
	----------
At 31st August 2023	–
	----------

6. Tangible Assets

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 1st September 2023	11,498	–	11,498
Additions	16,440	71,424	87,864
	---------	---------	---------
At 31st July 2024	27,938	71,424	99,362
	---------	---------	---------
Depreciation
At 1st September 2023	11,034	–	11,034
Charge for the period	4,375	1,639	6,014
	---------	---------	---------
At 31st July 2024	15,409	1,639	17,048
	---------	---------	---------
Carrying amount
At 31st July 2024	12,529	69,785	82,314
	---------	---------	---------
At 31st August 2023	464	–	464
	---------	---------	---------

7. Investments

	Shares in group undertakings
	£
Cost
At 1st September 2023	–
Additions	45,001
	---------
At 31st July 2024	45,001
	---------
Impairment
At 1st September 2023	–
Revaluations	14,999
	---------
At 31st July 2024	14,999
	---------

Carrying amount
At 31st July 2024	30,002
	---------
At 31st August 2023	–
	---------

8. Debtors

	31 Jul 24	31 Aug 23
	£	£
Trade debtors	2,240,916	–
Amounts owed by group undertakings and undertakings in which the company has a participating interest	222,485	–
Other debtors	1,169,409	–
	-------------	----
	3,632,810	–
	-------------	----

9. Creditors: amounts falling due within one year

	31 Jul 24	31 Aug 23
	£	£
Bank loans and overdrafts	350,273	10,000
Trade creditors	191,892	466
Amounts owed to group undertakings and undertakings in which the company has a participating interest	1,175,000	–
Corporation tax	3,608	–
Social security and other taxes	547,538	12,837
Other creditors	2,686,963	3,371
	-------------	---------
	4,955,274	26,674
	-------------	---------

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

	31 Jul 24	31 Aug 23
	£	£
Bank loans and overdrafts	60,282	22,383
	---------	---------

11. Called Up Share Capital

Issued, called up and fully paid

	31 Jul 24		31 Aug 23
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	5	5
	----	----	----	----

12. Directors' Advances, Credits and Guarantees

During the period the directors entered into the following advances and credits with the company:

	31 Jul 24
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr D Barlow	( 1,495)	16,477	1,495	16,477
Mr P Patel	–	10,691	–	10,691
	-------	---------	-------	---------
	( 1,495)	27,168	1,495	27,168
	-------	---------	-------	---------

	31 Aug 23
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr D Barlow	( 1,715)	–	220	( 1,495)
Mr P Patel	–	–	–	–
	-------	----	----	-------
	( 1,715)	–	220	( 1,495)
	-------	----	----	-------

Interest has been charged at a rate of 2.25% when overdrawn. The loans are repayable on demand.

13. Going Concern

The financial statements have been prepared on a going concern basis which assumes the continued support of companies under common control and eternal finance providers.