Kat Maconie Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06579050 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

KAT MACONIE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K M Maconie

A D Wolfson

H Chan

SECRETARY:

S L Maconie

REGISTERED OFFICE:

4 Mount Ephraim Road

Tunbridge Wells

Kent

TN1 1EE

REGISTERED NUMBER:

06579050 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

4 Mount Ephraim Road

Tunbridge Wells

Kent

TN1 1EE

FIXED ASSETS

Intangible assets

4

12,701

14,768

Tangible assets

5

131,673

67,056

144,374

81,824

CURRENT ASSETS

Stocks

187,268

92,655

Debtors

6

512,692

325,998

Cash at bank and in hand

347,920

10,178

1,047,880

428,831

CREDITORS

Amounts falling due within one year

7

574,682

291,408

NET CURRENT ASSETS

473,198

137,423

TOTAL ASSETS LESS CURRENT LIABILITIES

617,572

219,247

CREDITORS

Amounts falling due after more than one year

8

680,586

380,844

NET LIABILITIES

(63,014

)

(161,597

)

CAPITAL AND RESERVES

Called up share capital

10

2,565

2,565

Share premium

11

1,288,635

1,288,635

Retained earnings

11

(1,354,214

)

(1,452,797

)

SHAREHOLDERS' FUNDS

(63,014

)

(161,597

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 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 and authorised for issue by the Board of Directors on 25 September 2019 and were signed on its behalf by:

K M Maconie - Director

1.	STATUTORY INFORMATION

Kat Maconie 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.

Going concern

Accounting standards require the directors to consider the appropriateness of the going concern basis when

preparing the financial statements. The directors confirm that they consider that the going concern basis remains

appropriate. The directors believe that the company has sufficient resources to continue in operational existence

for the foreseeable future. The directors believe this to be the case as the company has positive cash balances

and the continued support of its investors. Thus they continue to adopt the going concern basis of accounting in

preparing the annual financial statements.

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 fixed assets and amortisation - patents and trade marks

Trade marks are valued at cost less accumulated amortisation.

Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life as

follows:-

Trade marks - 15% reducing balance

Tangible fixed assets

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

Short leasehold

-

in accordance with the lease

Website development

-

25% on cost

Plant and machinery

-

10% on cost

Fixtures and fittings

-

20% on cost

Office equipment

-

20% on cost

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.

Foreign currencies

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 rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice

of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three

months from the date of acquisition and that are readily convertible to known amounts of cash with no significant

risk of change in value.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third

parties, loans to related parties and investments in non-puttable ordinary shares.

Creditors

Short term creditors are measured at the transaction price.

Financial reporting standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial

statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic

of Ireland":

- the requirements of Section 7 Statement of Cash Flows;

- the requirements of Section 3 Financial Statement Presentation paragraph 3.17 (d);

- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A;

- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29;

- the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2017 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Trade

mark

£

COST

At 1 January 2018

and 31 December 2018

30,615

AMORTISATION

At 1 January 2018

15,847

Amortisation for year

2,067

At 31 December 2018

17,914

NET BOOK VALUE

At 31 December 2018

12,701

At 31 December 2017

14,768

5.	TANGIBLE FIXED ASSETS

Short

Website

Plant and

leasehold

development

machinery

£

£

£

COST

At 1 January 2018

-

54,833

93,431

Additions

42,500

-

31,653

At 31 December 2018

42,500

54,833

125,084

DEPRECIATION

At 1 January 2018

-

53,159

31,278

Charge for year

572

936

10,624

At 31 December 2018

572

54,095

41,902

NET BOOK VALUE

At 31 December 2018

41,928

738

83,182

At 31 December 2017

-

1,674

62,153

Fixtures

and

Office

fittings

equipment

Totals

£

£

£

COST

At 1 January 2018

1,596

13,019

162,879

Additions

2,461

2,718

79,332

At 31 December 2018

4,057

15,737

242,211

DEPRECIATION

At 1 January 2018

1,207

10,179

95,823

Charge for year

550

2,033

14,715

At 31 December 2018

1,757

12,212

110,538

NET BOOK VALUE

At 31 December 2018

2,300

3,525

131,673

At 31 December 2017

389

2,840

67,056

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

294,998

179,700

Other debtors

217,694

146,298

512,692

325,998

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

147,093

-

Trade creditors

174,700

55,883

Taxation and social security

5,994

4,925

Other creditors

246,895

230,600

574,682

291,408

£44,947 (2017 - £61,352) of other creditors are secured upon trade debtors.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

680,586

380,844

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

Between one and five years

146,000

54,000

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

256,463

Ordinary

0.01

2,565

2,565

11.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 January 2018

(1,452,797

)

1,288,635

(164,162

)

Profit for the year

98,583

98,583

At 31 December 2018

(1,354,214

)

1,288,635

(65,579

)

12.	RELATED PARTY DISCLOSURES

During the year, the mother of a director forgave her loan of £151,758 due from the company.

13.	ULTIMATE CONTROLLING PARTY

The directors consider there to be no ultimate controlling party.