Corbett Keeling Limited

Corbett Keeling Limited

CORBETT KEELING LIMITED - Company Information

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Company Registration No. 02811619 (England and Wales)
Corbett Keeling Limited Unaudited accounts for the year ended 31 July 2023
Corbett Keeling Limited Unaudited accounts Contents
Page
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Corbett Keeling Limited Company Information for the year ended 31 July 2023
Directors
Emma Keeling James Keeling
Company Number
02811619 (England and Wales)
Registered Office
8 Angel Court London Greater London EC2R 7HP United Kingdom
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Corbett Keeling Limited Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
59,862 
72,001 
Current assets
Inventories
130,000 
130,000 
Debtors
5
243,774 
139,995 
Investments
6
600 
600 
Cash at bank and in hand
276,546 
328,463 
650,920 
599,058 
Creditors: amounts falling due within one year
7
(475,981)
(341,160)
Net current assets
174,939 
257,898 
Total assets less current liabilities
234,801 
329,899 
Creditors: amounts falling due after more than one year
8
(76,671)
(116,671)
Provisions for liabilities
Deferred tax
(11,327)
(12,308)
Net assets
146,803 
200,920 
Capital and reserves
Called up share capital
92,020 
132,020 
Share premium
48,557 
48,557 
Capital redemption reserve
53 
53 
Profit and loss account
6,173 
20,290 
Shareholders' funds
146,803 
200,920 
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2023 and were signed on its behalf by
Emma Keeling Director Company Registration No. 02811619
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Corbett Keeling Limited Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Corbett Keeling Limited is a private company, limited by shares, registered in England and Wales, registration number 02811619. The registered office is 8 Angel Court, London, Greater London, EC2R 7HP, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Taxation
Taxation for the year comprises current and deferred tax. 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 arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Current or deferred taxation assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Investments
Investments in shares are included at fair value.
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Corbett Keeling Limited Notes to the Accounts for the year ended 31 July 2023
Work in progress
Work in progress is valued at the cost of direct costs and an appropriate proportion of fixed and variable overheads up to the level that it is probable that the costs will be recovered.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts are shown within borrowings in current liabilities.
Financial instruments
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities, including trade and other payables, bank loans and preference shares that are classified as debt, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised. Trade payables 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.
Significant judgements and estimates
In calculating the value of work in progress figure at £130k (2022:£130k) The directors take due account of how much of the work has been completed and the likelihood of the successful completion of the transaction.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: Land and buildings - 20% on cost Plant and machinery etc - 33% on reducing balance
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Corbett Keeling Limited Notes to the Accounts for the year ended 31 July 2023
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 August 2022
398,866 
Additions
14,864 
At 31 July 2023
413,730 
Depreciation
At 1 August 2022
326,865 
Charge for the year
27,003 
At 31 July 2023
353,868 
Net book value
At 31 July 2023
59,862 
At 31 July 2022
72,001 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
182,732 
86,000 
Accrued income and prepayments
39,417 
32,370 
222,149 
118,370 
Amounts falling due after more than one year
Other debtors
21,625 
21,625 
6
Investments held as current assets
2023 
2022 
£ 
£ 
Unlisted investments
600 
600 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
39,996 
39,996 
Trade creditors
84,540 
10,352 
Taxes and social security
175,632 
196,737 
Other creditors
3,500 
10,547 
Accruals
172,313 
83,528 
475,981 
341,160 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
76,671 
116,671 
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Corbett Keeling Limited Notes to the Accounts for the year ended 31 July 2023
9
Average number of employees
During the year the average number of employees was 8 (2022: 8).
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