REGISTERED NUMBER: 10534579 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2026

for

Kraken Contracts Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M W Campion

REGISTERED OFFICE:

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

REGISTERED NUMBER:

10534579 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

FIXED ASSETS

Tangible assets

4

122,763

62,896

CURRENT ASSETS

Stocks

187,973

25,000

Debtors

5

989,445

393,939

Cash at bank

56,650

66,164

1,234,068

485,103

CREDITORS

Amounts falling due within one year

6

(970,848

)

(470,831

)

NET CURRENT ASSETS

263,220

14,272

TOTAL ASSETS LESS CURRENT LIABILITIES

385,983

77,168

CREDITORS

Amounts falling due after more than one year

7

(57,262

)

(53,037

)

PROVISIONS FOR LIABILITIES

(30,691

)

(15,724

)

NET ASSETS

298,030

8,407

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

298,028

8,405

298,030

8,407

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 17 April 2026 and were signed by:

M W Campion - Director

1.	STATUTORY INFORMATION

Kraken Contracts Ltd 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.

These financial statements for the year ended 31 January 2025 are the first that are prepared in accordance with FRS Section 102 section 1A. The previous financial statements were prepared in accordance with FRS 105. The date of transition to FRS 102 Section 1A is 1 February 2023.

The transition to FRS 102 Section 1A had the following effect on the financial statements:

- Retained earnings as at 31 January 2024 decreased by £11,726.

- Retained earnings as at 1 February 2023 decreased by £4,365.

- The profit for the year ended 31 January 2024 decreased by £7,361.

Turnover

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

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% on cost

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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 4 (2025 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 February 2025

28,999

-

79,281

4,036

112,316

Additions

2,710

8,840

74,314

4,440

90,304

At 31 January 2026

31,709

8,840

153,595

8,476

202,620

DEPRECIATION

At 1 February 2025

21,928

-

24,584

2,908

49,420

Charge for year

1,276

1,768

25,802

1,591

30,437

At 31 January 2026

23,204

1,768

50,386

4,499

79,857

NET BOOK VALUE

At 31 January 2026

8,505

7,072

103,209

3,977

122,763

At 31 January 2025

7,071

-

54,697

1,128

62,896

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.26

31.1.25

£

£

Trade debtors

408,449

224,578

Other debtors

580,996

169,361

989,445

393,939

Other debtors includes prepayments and accrued income of £268 (2025: £313).

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.26

31.1.25

£

£

Bank loans and overdrafts

5,800

5,800

Hire purchase contracts

40,197

18,979

Trade creditors

479,795

246,150

Taxation and social security

275,054

81,589

Other creditors

170,002

118,313

970,848

470,831

Other creditors includes accruals and deferred income of £2,750 (2025: £2,550).

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.26

31.1.25

£

£

Bank loans

2,031

8,051

Hire purchase contracts

55,231

44,986

57,262

53,037

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.26

31.1.25

£

£

Hire purchase contracts

95,428

63,965

The hire purchase loans are secured by a fixed charge over the assets they relate to.

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2026 and 31 January 2025:

31.1.26

31.1.25

£

£

M W Campion

Balance outstanding at start of year

104,965

40,920

Amounts advanced

275,313

114,266

Amounts repaid

-

(50,221

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

380,278

104,965

The loan was charged at the official HMRC interest rate and was repayable on demand.