Kennelwood News Limited 9411943 false 2022-02-01 2023-01-31 2023-01-31 The principal activity of the company is that of a newsagent Digita Accounts Production Advanced 6.30.9574.0 true true 9411943 2022-02-01 2023-01-31 9411943 2023-01-31 9411943 core:RetainedEarningsAccumulatedLosses 2023-01-31 9411943 core:ShareCapital 2023-01-31 9411943 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 9411943 core:Goodwill 2023-01-31 9411943 core:FurnitureFittingsToolsEquipment 2023-01-31 9411943 bus:SmallEntities 2022-02-01 2023-01-31 9411943 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 9411943 bus:FullAccounts 2022-02-01 2023-01-31 9411943 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 9411943 bus:RegisteredOffice 2022-02-01 2023-01-31 9411943 bus:Director1 2022-02-01 2023-01-31 9411943 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 9411943 core:Goodwill 2022-02-01 2023-01-31 9411943 core:FurnitureFittings 2022-02-01 2023-01-31 9411943 core:FurnitureFittingsToolsEquipment 2022-02-01 2023-01-31 9411943 countries:England 2022-02-01 2023-01-31 9411943 2022-01-31 9411943 core:Goodwill 2022-01-31 9411943 core:FurnitureFittingsToolsEquipment 2022-01-31 9411943 2021-02-01 2022-01-31 9411943 2022-01-31 9411943 core:RetainedEarningsAccumulatedLosses 2022-01-31 9411943 core:ShareCapital 2022-01-31 9411943 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 9411943 core:FurnitureFittingsToolsEquipment 2022-01-31 iso4217:GBP xbrli:pure

Kennelwood News Limited

Registration number : 9411943



















Annual Report and Unaudited Financial Statements

for the year ended 31 January 2023

 

Kennelwood News Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Kennelwood News Limited

Company Information

Director

Mr Robert Alan Waite

Registered office

Maghull Business Centre
1 Liverpool Road North
Maghull
Merseyside
L31 2HB

Accountants

McParland Williams Limited
Accountants and Tax Practitioners
13 Liverpool Road North
Maghull
Merseyside
L31 2HB

 

Kennelwood News Limited

(Registration number: 9411943)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

2,976

3,968

Current assets

 

Stocks and work-in-progress

6

6,250

8,200

Debtors

7

4,147

3,484

Cash at bank and in hand

 

5,865

11,032

 

16,262

22,716

Creditors: Amounts falling due within one year

8

(11,619)

(12,895)

Net current assets

 

4,643

9,821

Net assets

 

7,619

13,789

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

7,519

13,689

Total equity

 

7,619

13,789

For the financial year ending 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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 October 2023
 

.........................................
Mr Robert Alan Waite
Director

   
     
 

Kennelwood News Limited

Notes to the Unaudited Financial Statements for the year ended 31 January 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Maghull Business Centre
1 Liverpool Road North
Maghull
Merseyside
L31 2HB

These financial statements were authorised for issue by the director on 17 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Kennelwood News Limited

Notes to the Unaudited Financial Statements for the year ended 31 January 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 5 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Kennelwood News Limited

Notes to the Unaudited Financial Statements for the year ended 31 January 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2022 - 4).

 

Kennelwood News Limited

Notes to the Unaudited Financial Statements for the year ended 31 January 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 February 2022

31,000

31,000

At 31 January 2023

31,000

31,000

Amortisation

At 1 February 2022

31,000

31,000

At 31 January 2023

31,000

31,000

Carrying amount

At 31 January 2023

-

-

The aggregate amount of research and development expenditure recognised as an expense during the period is £- (2022 - £-).
 

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2022

29,731

29,731

At 31 January 2023

29,731

29,731

Depreciation

At 1 February 2022

25,763

25,763

Charge for the year

992

992

At 31 January 2023

26,755

26,755

Carrying amount

At 31 January 2023

2,976

2,976

At 31 January 2022

3,968

3,968

6

Stocks and work-in-progress

2023
£

2022
£

Other inventories

6,250

8,200

 

Kennelwood News Limited

Notes to the Unaudited Financial Statements for the year ended 31 January 2023

7

Debtors

2023
£

2022
£

Trade debtors

1,064

1,566

Other debtors

3,083

1,918

4,147

3,484

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

2,683

1,628

Taxation and social security

5,706

8,893

Accruals and deferred income

650

650

Other creditors

2,580

1,724

11,619

12,895