Company registration number 13912897 (England and Wales)
HK Windows Limited
Unaudited
financial statements
for the period ended 28 February 2023
PAGES FOR FILING WITH REGISTRAR
HK Windows Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
HK Windows Limited
Statement of financial position
as at 28 February 2023
- 1 -
2023
Notes
£
£
Current assets
Debtors
3
22,539
Cash at bank and in hand
8,674
31,213
Creditors: amounts falling due within one year
4
(12,594)
Net current assets
18,619
Capital and reserves
Called up share capital
100
Profit and loss reserves
18,519
Total equity
18,619
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial period ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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 period 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 26 October 2023 and are signed on its behalf by:
Mr I A Smith
Director
Company Registration No. 13912897
HK Windows Limited
Notes to the financial statements
for the period ended 28 February 2023
- 2 -
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.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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 statement of financial position when the company becomes party to the contractual provisions of the instrument.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
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.
HK Windows Limited
Notes to the financial statements (continued)
for the period ended 28 February 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
Number
Total
1
3
Debtors
2023
Amounts falling due within one year:
£
Trade debtors
9,963
Other debtors
12,576
22,539
4
Creditors: amounts falling due within one year
2023
£
Corporation tax
10,536
Other creditors
2,058
12,594
5
Company information
HK Windows Limited is a private company limited by shares incorporated in England and Wales. The registered office is 225 Gibson Lane, Kippax, Leeds, LS25 7JL.