Kaboodle Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05908201 (England and Wales)

KABOODLE LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021

Page

Company information

1

Chartered accountants' report

2

Abridged statement of financial position

3

to

4

Notes to the financial statements

5

to

8

Directors:

M Pitt

N A Judd

J A Stonor

Registered office:

Unit 5b Motorway Industrial Estate

Babbage Road

Stevenage

Hertfordshire

SG1 2TU

Registered number:

05908201 (England and Wales)

Accountants:

Wags LLP t/a Wagstaffs

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kaboodle Limited for the year ended 31st December 2021 which comprise the Income statement, Abridged Statement of financial position, Statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Kaboodle Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kaboodle Limited and state those matters that we have agreed to state to the Board of Directors of Kaboodle Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kaboodle Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Kaboodle Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Kaboodle Limited. You consider that Kaboodle Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Kaboodle Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Wags LLP t/a Wagstaffs

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

30th September 2022

FIXED ASSETS

Intangible assets

5

5,974

6,521

Property, plant and equipment

6

80,123

197,831

86,097

204,352

CURRENT ASSETS

Inventories

467,320

594,795

Debtors

1,817,662

1,458,660

Cash at bank

297,403

183,751

2,582,385

2,237,206

CREDITORS

Amounts falling due within one year

(2,957,011

)

(2,577,124

)

NET CURRENT LIABILITIES

(374,626

)

(339,918

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(288,529

)

(135,566

)

CREDITORS

Amounts falling due after more than one year

(44,167

)

(100,775

)

NET LIABILITIES

(332,696

)

(236,341

)

CAPITAL AND RESERVES

Called up share capital

9

600

600

Share premium

99,600

99,600

Retained earnings

(432,896

)

(336,541

)

SHAREHOLDERS' FUNDS

(332,696

)

(236,341

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 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.

All the members have consented to the preparation of an abridged Statement of financial position for the year ended 31st December 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 13th September 2022 and were signed on its behalf by:

M Pitt - Director

1.	STATUTORY INFORMATION

Kaboodle 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are prepared on a going concern basis and under the historical cost convention.

Significant judgements and estimates

No significant judgements or estimates have had to be made by the directors in preparing these financial statements.

Revenue

Revenue represents the total invoice value, including value added tax, trade discounts and all other losses of sales made during the year.

Revenue Recognition

Revenue is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Property, plant and equipment

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

Plant and machinery etc

-

25% on cost and 20% on cost

Inventories

Inventories and work in progress are valued at the lower 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 inventories to their present location and condition.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in the income statement. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the income statement.

Tax

Tax 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 tax 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

Going concern

The directors have undertaken to continue their financial support of the company for the foreseeable future. On this basis they believe it is appropriate to prepare these accounts on a going concern basis.

Post year end the company raised £500k of equity investment.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 71 (2020 - 59 ) .

5.	INTANGIBLE FIXED ASSETS

Totals

£

Cost

At 1st January 2021

7,250

Additions

1,350

At 31st December 2021

8,600

Amortisation

At 1st January 2021

729

Amortisation for year

1,897

At 31st December 2021

2,626

Net book value

At 31st December 2021

5,974

At 31st December 2020

6,521

6.	PROPERTY, PLANT AND EQUIPMENT

Totals

£

Cost

At 1st January 2021

491,619

Additions

37,613

Disposals

(289,222

)

At 31st December 2021

240,010

Depreciation

At 1st January 2021

293,788

Charge for year

76,295

Eliminated on disposal

(210,196

)

At 31st December 2021

159,887

Net book value

At 31st December 2021

80,123

At 31st December 2020

197,831

7.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2021

2020

£

£

Net obligations repayable:

Within one year

2,490

110,190

Between one and five years

-

30,609

2,490

140,799

8.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

64,334

92,166

Other loans

1,072,791

1,153,471

1,137,125

1,245,637

The bank loan and other facilities are secured by a fixed and floating charge over the company's assets.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

600

Ordinary

£1

600

600

10.	LEASING AGREEMENTS

At 31 December 2021, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £135,058 (2020 - £199,651).