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REGISTERED NUMBER: 00906521 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31st May 2022

for

W.K.D. Storage Systems Limited

W.K.D. Storage Systems Limited (Registered number: 00906521)






Contents of the Financial Statements
for the Year Ended 31st May 2022




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


W.K.D. Storage Systems Limited (Registered number: 00906521)

Abridged Balance Sheet
31st May 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 668,667 676,055
668,667 676,055

CURRENT ASSETS
Stocks 20,135 21,215
Debtors 167,967 224,260
Cash at bank and in hand 579,319 504,069
767,421 749,544
CREDITORS
Amounts falling due within one year 147,560 187,956
NET CURRENT ASSETS 619,861 561,588
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,288,528

1,237,643

PROVISIONS FOR LIABILITIES 90,975 110,378
NET ASSETS 1,197,553 1,127,265

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Share premium 1,000 1,000
Revaluation reserve 7 498,217 470,557
Capital redemption reserve 2,147 2,147
Retained earnings 596,189 553,561
SHAREHOLDERS' FUNDS 1,197,553 1,127,265

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2022 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.

W.K.D. Storage Systems Limited (Registered number: 00906521)

Abridged Balance Sheet - continued
31st May 2022


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 Balance Sheet for the year ended 31st May 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31st August 2022 and were signed on its behalf by:





Mr K R McLean - Director


W.K.D. Storage Systems Limited (Registered number: 00906521)

Notes to the Financial Statements
for the Year Ended 31st May 2022

1. STATUTORY INFORMATION

W.K.D. Storage Systems Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00906521

Registered office: 3-4 Bourne Enterprise Centre
Wrotham Road
Borough Green
Sevenoaks
Kent
TN15 8DF

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 have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Revenue recognition
Sales comprise the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Sales are presented, net of value-added tax, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company's activities as follows:

Revenue from the sale of goods is recognised at the point at which the goods have been delivered to the customer.

Goodwill
The goodwill relates to the purchase of the Kings Cross Truck company in 2012, this is being amortised of the estimated useful life of 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

W.K.D. Storage Systems Limited (Registered number: 00906521)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2022

3. ACCOUNTING POLICIES - continued

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

The basis of the stock valuation is using standard cost.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss.

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.

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.

W.K.D. Storage Systems Limited (Registered number: 00906521)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2022

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2021 - 7 ) .

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st June 2021
and 31st May 2022 40,000
AMORTISATION
At 1st June 2021
and 31st May 2022 40,000
NET BOOK VALUE

At 31st May 2022 -
At 31st May 2021 -

6. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1st June 2021 910,323
Additions 739
At 31st May 2022 911,062
DEPRECIATION
At 1st June 2021 234,268
Charge for year 16,384
Revaluation adjustments (8,257 )
At 31st May 2022 242,395
NET BOOK VALUE
At 31st May 2022 668,667
At 31st May 2021 676,055

Freehold property has been revalued to fair value at the balance sheet date by the directors based on their own research and experience. There has been no independent professional valuation undertaken during the period.

W.K.D. Storage Systems Limited (Registered number: 00906521)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2022

7. RESERVES
Revaluation
reserve
£   
At 1st June 2021 470,557
Revaluation of tangible fixed
assets 27,660

At 31st May 2022 498,217