2022-06-012023-05-312023-05-31false11382954KEVIN LOWNDS FUNERAL SERVICES 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KEVIN LOWNDS FUNERAL SERVICES LIMITED

Registered Number
11382954
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2023

KEVIN LOWNDS FUNERAL SERVICES LIMITED
Company Information
for the year from 1 June 2022 to 31 May 2023

Directors

Kevin Lownds
Susan Lownds

Registered Address

12-13 Andrew Place
Newcastle Under Lyme
ST5 1DL

Registered Number

11382954 (England and Wales)
KEVIN LOWNDS FUNERAL SERVICES LIMITED
Balance Sheet as at
31 May 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets546,83150,765
46,83150,765
Current assets
Debtors633,07732,009
Cash at bank and on hand120,87075,722
153,947107,731
Creditors amounts falling due within one year7(67,432)(85,865)
Net current assets (liabilities)86,51521,866
Total assets less current liabilities133,34672,631
Provisions for liabilities8(3,969)(9,645)
Net assets129,37762,986
Capital and reserves
Called up share capital22
Profit and loss account129,37562,984
Shareholders' funds129,37762,986
The financial statements were approved and authorised for issue by the Board of Directors on 26 September 2023, and are signed on its behalf by:
Susan Lownds
Director
Registered Company No. 11382954
KEVIN LOWNDS FUNERAL SERVICES LIMITED
Notes to the Financial Statements
for the year ended 31 May 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year54
5.Property, plant and equipment

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 June 2245,23715,88015,9508,41385,480
Additions2,129-4217943,344
At 31 May 2347,36615,88016,3719,20788,824
Depreciation and impairment
At 01 June 2212,32210,2975,5776,51934,715
Charge for year1,8991,3962,6751,3087,278
At 31 May 2314,22111,6938,2527,82741,993
Net book value
At 31 May 2333,1454,1878,1191,38046,831
At 31 May 2232,9155,58310,3731,89450,765
6.Debtors

2023

2022

££
Trade debtors / trade receivables23,91028,606
Other debtors4,775-
Prepayments and accrued income4,3923,403
Total33,07732,009
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors within one year

2023

2022

££
Trade creditors / trade payables24,42829,522
Taxation and social security20,02115,664
Other creditors5,06930,859
Accrued liabilities and deferred income17,9149,820
Total67,43285,865
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)3,9699,645
Total3,9699,645