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REGISTERED NUMBER: 02566209 (England and Wales)















KINGFISHER DEVELOPMENTS (WALES) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023






KINGFISHER DEVELOPMENTS (WALES) LIMITED (REGISTERED NUMBER: 02566209)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


KINGFISHER DEVELOPMENTS (WALES) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: S M Cottingham
G A Hill
S D Cottingham
R D Owens
A H Eley





SECRETARY: S M Cottingham





REGISTERED OFFICE: The Hayes Building
Town Hall Square
Llantwit Major
Vale of Glamorgan
CF61 1SD





REGISTERED NUMBER: 02566209 (England and Wales)





ACCOUNTANTS: Johns Jones & Lo Limited
Chartered Accountants & Registered Auditors
16 Lambourne Crescent
Cardiff Business Park
Llanishen
Cardiff
CF14 5GF

KINGFISHER DEVELOPMENTS (WALES) LIMITED (REGISTERED NUMBER: 02566209)

BALANCE SHEET
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 168,716 192,325

CURRENT ASSETS
Stocks 570,689 548,062
Debtors 5 649,354 963,715
Cash at bank and in hand 483,401 393,388
1,703,444 1,905,165
CREDITORS
Amounts falling due within one year 6 1,496,015 1,732,946
NET CURRENT ASSETS 207,429 172,219
TOTAL ASSETS LESS CURRENT
LIABILITIES

376,145

364,544

CREDITORS
Amounts falling due after more than one
year

7

(121,508

)

(214,298

)

PROVISIONS FOR LIABILITIES 10 (28,949 ) (33,236 )
NET ASSETS 225,688 117,010

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 225,678 117,000
SHAREHOLDERS' FUNDS 225,688 117,010

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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.

KINGFISHER DEVELOPMENTS (WALES) LIMITED (REGISTERED NUMBER: 02566209)

BALANCE SHEET - continued
31ST MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 9th October 2023 and were signed on its behalf by:





S M Cottingham - Director


KINGFISHER DEVELOPMENTS (WALES) LIMITED (REGISTERED NUMBER: 02566209)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

1. STATUTORY INFORMATION

Kingfisher Developments (Wales) 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

KINGFISHER DEVELOPMENTS (WALES) LIMITED (REGISTERED NUMBER: 02566209)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
The accounts have been prepared on a going concern basis as the director has pledged financial support for a period of at least one year from the date of signing the accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2022 - 44 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2022 687,696
Additions 59,467
Disposals (58,056 )
At 31st March 2023 689,107
DEPRECIATION
At 1st April 2022 495,371
Charge for year 52,514
Eliminated on disposal (27,494 )
At 31st March 2023 520,391
NET BOOK VALUE
At 31st March 2023 168,716
At 31st March 2022 192,325

KINGFISHER DEVELOPMENTS (WALES) LIMITED (REGISTERED NUMBER: 02566209)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st April 2022 119,056
Additions 59,467
Disposals (35,067 )
Transfer to ownership (22,990 )
At 31st March 2023 120,466
DEPRECIATION
At 1st April 2022 40,425
Charge for year 28,542
Eliminated on disposal (21,198 )
Transfer to ownership (11,536 )
At 31st March 2023 36,233
NET BOOK VALUE
At 31st March 2023 84,233
At 31st March 2022 78,631

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 341,458 716,780
Other debtors 307,896 246,935
649,354 963,715

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 50,000 30,000
Hire purchase contracts (see note 8) 15,059 -
Trade creditors 1,284,281 1,504,387
Taxation and social security 62,410 83,435
Other creditors 84,265 115,124
1,496,015 1,732,946

KINGFISHER DEVELOPMENTS (WALES) LIMITED (REGISTERED NUMBER: 02566209)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 68,333 195,000
Hire purchase contracts (see note 8) 53,175 19,298
121,508 214,298

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 15,059 -
Between one and five years 53,175 19,298
68,234 19,298

Non-cancellable operating leases
2023 2022
£    £   
Within one year 38,787 36,238
Between one and five years 12,522 11,901
51,309 48,139

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 118,333 225,000
Hire purchase contracts 68,234 19,298
186,567 244,298

Bank borrowings are secured by way of debenture in favour of National Westminster Bank Plc. and secured on all freehold and leasehold property.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 28,949 33,236

KINGFISHER DEVELOPMENTS (WALES) LIMITED (REGISTERED NUMBER: 02566209)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st April 2022 33,236
Accelerated capital allowances (4,287 )
Balance at 31st March 2023 28,949

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st March 2023 and 31st March 2022:

2023 2022
£    £   
G A Hill
Balance outstanding at start of year 95,516 92,356
Amounts advanced 2,282 3,160
Amounts repaid (12,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 85,798 95,516

S M Cottingham
Balance outstanding at start of year 111,189 108,108
Amounts advanced 2,633 3,081
Amounts repaid (10,131 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 103,691 111,189

The following dividends were paid during the year:

£

Mr G. Hill7,000
Mr. S. M. Cottingham7,000
----------
14,000


12. ULTIMATE CONTROLLING PARTY

The controlling party is S M Cottingham and G A Hill