Company registration number 11044701 (England and Wales)
Black Horse KF Ltd
Unaudited financial statements
for the year ended 31 January 2023
PAGES FOR FILING WITH REGISTRAR
Black Horse KF Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
Black Horse KF Ltd
Statement Of Financial Position
as at 31 January 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
378,340
390,153
Current assets
Stocks
22,866
20,109
Debtors
5
241,807
117,017
Cash at bank and in hand
154,196
279,411
418,869
416,537
Creditors: amounts falling due within one year
6
(571,133)
(681,080)
Net current liabilities
(152,264)
(264,543)
Total assets less current liabilities
226,076
125,610
Creditors: amounts falling due after more than one year
7
(46,685)
(55,625)
Net assets
179,391
69,985
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
179,291
69,885
Total equity
179,391
69,985
Black Horse KF Ltd
Statement Of Financial Position (continued)
as at 31 January 2023
- 2 -
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial 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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The 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.
The financial statements were approved by the board of directors and authorised for issue on 13 October 2023 and are signed on its behalf by:
P Barker
Director
Company Registration No. 11044701
Black Horse KF Ltd
Notes to the financial statements
for the year ended 31 January 2023
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with 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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Going concern
Through the continued support of the director it is still appropriate to prepare the accounts on a going concern basis.
Turnover
Turnover represents the fair value of the consideration receivable for goods and services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised on the performance of a service obligation where a right to consideration is due.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
No depreciation
Fixtures and fittings
20% reducing balance
Motor vehicles
20% straightline basis
Stocks
Stocks 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 stocks to their present location and condition.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Black Horse KF Ltd
Notes to the financial statements (continued)
for the year ended 31 January 2023
1
Accounting policies
(continued)
- 4 -
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
38
39
Black Horse KF Ltd
Notes to the financial statements (continued)
for the year ended 31 January 2023
- 5 -
4
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 February 2022
218,004
251,626
21,887
491,517
Additions
21,845
4,377
26,222
Disposals
(12,957)
(12,957)
At 31 January 2023
218,004
260,514
26,264
504,782
Depreciation and impairment
At 1 February 2022
99,358
2,006
101,364
Depreciation charged in the year
33,491
5,253
38,744
Eliminated in respect of disposals
(4,572)
(4,572)
Adjustment
(11,903)
2,809
(9,094)
At 31 January 2023
116,374
10,068
126,442
Carrying amount
At 31 January 2023
218,004
144,140
16,196
378,340
At 31 January 2022
218,004
152,268
19,881
390,153
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
234,307
117,017
Prepayments and accrued income
7,500
241,807
117,017
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loan
5,000
5,000
Obligations under finance leases
3,997
5,253
Trade creditors
75,873
61,258
Taxation and social security
51,277
32,800
Other creditors
410,089
551,091
Accruals and deferred income
24,897
25,678
571,133
681,080
Obligations under finance leases are secured.
Black Horse KF Ltd
Notes to the financial statements (continued)
for the year ended 31 January 2023
- 6 -
7
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loan
35,741
41,665
Obligations under finance leases
10,944
13,960
46,685
55,625
Obligations under finance leases are secured.
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of £1 each
100
100
100
100
9
Company information
Black Horse KF Ltd is a private company limited by shares incorporated in England and Wales. The registered office is West House, King Cross Road, Halifax, West Yorkshire, HX1 1EB.