Kohler Book Collections Limited
Unaudited Financial Statements
For Filing with Registrar
For the year ended 30 April 2021
Company Registration No. 11143191 (England and Wales)
Kohler Book Collections Limited
Company Information
Directors
C C Kohler
M S Kohler
Company number
11143191
Registered office
Betchworth House
57-65 Station Road
Redhill
Surrey
RH1 1DL
Accountants
Moore Kingston Smith LLP
Betchworth House
57-65 Station Road
Redhill
Surrey
RH1 1DL
Kohler Book Collections Limited
Balance Sheet
As at 30 April 2021
Page 1
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
2
6,288
6,987
Current assets
Stock
236,125
229,859
Debtors
3
2,117
2,257
Cash at bank and in hand
34,555
56,221
272,797
288,337
Creditors: amounts falling due within one year
4
(88,288)
(93,849)
Net current assets
184,509
194,488
Total assets less current liabilities
190,797
201,475
Capital and reserves
Called up share capital
5
100
100
Share premium account
185,422
185,422
Profit and loss reserves
5,275
15,953
Total equity
190,797
201,475
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
Kohler Book Collections Limited
Balance Sheet (Continued)
As at 30 April 2021
Page 2
The financial statements were approved by the board of directors and authorised for issue on 20 October 2021 and are signed on its behalf by:
C C Kohler
M S Kohler
Director
Director
Company Registration No. 11143191
Kohler Book Collections Limited
Notes to the Financial Statements
For the year ended 30 April 2021
Page 3
1
Accounting policies
Company information
Kohler Book Collections Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
57-65 Station Road, Redhill, Surrey, RD1 1DL.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The directors have assessed the impact of the worldwide COVID-19 pandemic on the company and consider any impact or delays to be short term only. As a result the directors believe that the company will be able to continue in business and meet its liabilities as they fall due for a period of at least twelve months from the date of approval of the financial statements.
true
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
10% reducing balance
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Stock
Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition.
Stock held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.
Kohler Book Collections Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2021
1
Accounting policies
(Continued)
Page 4
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.6
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand
and balances
held at call with banks
.
1.7
Financial instruments
The company only has financial instruments classified as basic and measured at amortised cost. The company has no financial instruments that are classified as 'other' or financial instruments measured at fair value.
1.8
Equity instruments
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.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Kohler Book Collections Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2021
Page 5
2
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2020 and 30 April 2021
9,565
Depreciation and impairment
At 1 May 2020
2,578
Depreciation charged in the year
699
At 30 April 2021
3,277
Carrying amount
At 30 April 2021
6,288
At 30 April 2020
6,987
3
Debtors
2021
2020
Amounts falling due within one year:
£
£
Other debtors
2,117
2,257
4
Creditors: amounts falling due within one year
2021
2020
£
£
Corporation tax
5,200
Other creditors
88,288
88,649
88,288
93,849
5
Called up share capital
2021
2020
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
100
100
Kohler Book Collections Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2021
Page 6
6
Related party transactions
Included within other creditors at the year end is £85,663 (2020 - £86,149) owed to the directors of the company.