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Registered Number: 04150218
England and Wales

 

 

 

K.P.M. ROCK LIMITED


Unaudited Filleted Financial Statements
 


Period of accounts

Start date: 01 February 2022

End date: 31 January 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 2,500,216    2,700,288 
2,500,216    2,700,288 
Current assets      
Debtors 4 252,640    692 
Cash at bank and in hand 17,450    308,409 
270,090    309,101 
Creditors: amount falling due within one year 5 (291)   (26,286)
Net current assets 269,799    282,815 
 
Total assets less current liabilities 2,770,015    2,983,103 
Creditors: amount falling due after more than one year 6 (1,714,856)   (1,714,949)
Accruals and deferred income (4,500)   (2,330)
Provisions for liabilities 7 (232,493)   (256,105)
Net assets 818,166    1,009,719 
 

Capital and reserves
     
Called up share capital 1    1 
Reserves 8 1,079,660    1,256,048 
Profit and loss account (261,495)   (246,330)
Shareholder's funds 818,166    1,009,719 
 


For the year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 05 October 2023 and were signed by:


-------------------------------
Kay Broadway
Director
1
General Information
K.P.M. Rock Limited is a private company, limited by shares, registered in England and Wales, registration number 04150218, registration address Holed Stone Barn Stisted Cottage Farm, Hollies Road, Braintree, Essex, CM77 8DZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Investment properties   Total
  £   £   £   £
At 01 February 2022 318    1,599    2,700,000    2,701,917 
Additions      
Disposals      
Revaluations     (200,000)   (200,000)
At 31 January 2023 318    1,599    2,500,000    2,501,917 
Depreciation
At 01 February 2022 243    1,386      1,629 
Charge for year 19    53      72 
On disposals      
At 31 January 2023 262    1,439      1,701 
Net book values
Closing balance as at 31 January 2023 56    160    2,500,000    2,500,216 
Opening balance as at 01 February 2022 75    213    2,700,000    2,700,288 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Prepayments & Accrued Income 306    92 
Other Debtors 2,284    600 
2,590    692 

4.

Debtors: amounts falling due after one year

2023
£
  2022
£
Directors Loan Accounts 250,050   
250,050   

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Corporation Tax   873 
Other Creditors 287    35 
Directors' Current Accounts   25,378 
291    26,286 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts (secured) 1,714,856    1,714,949 
1,714,856    1,714,949 

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 256,105    248,505 
Charged to Profit & Loss (23,612)   7,600 
232,493    256,105 

8.

Reserves

2023
£
  2022
£
Revaluation Reserve b/fwd 1,256,048    1,223,648 
Revaluation of Fixed Assets (200,000)   40,000 
Deferred Tax Provided on Revaluation 23,612    (7,600)
1,079,660    1,256,048 

9.

Advances and Credits



Kay Broadway
Loan

Current year (2023)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
WrittenOff
£
Waived
£
Carry Forward
£
Kay Broadway(25,378)275,428 250,050 
-25378275428000250050
Previous year (2022)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
WrittenOff
£
Waived
£
Carry Forward
£
Kay Broadway(275,054)249,676 (25,378)
-275054249676000-25378
2