Registered number
01793894
KIMBERS (SOUTHERN) LIMITED
Filleted Accounts
30 April 2023
KIMBERS (SOUTHERN) LIMITED
Registered number: 01793894
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 80,517 100,080
Current assets
Stocks 244,309 171,139
Debtors 4 139,710 163,969
Cash at bank and in hand 296,694 236,016
680,713 571,124
Creditors: amounts falling due within one year 5 (393,690) (311,327)
Net current assets 287,023 259,797
Total assets less current liabilities 367,540 359,877
Provisions for liabilities (14,888) (16,651)
Net assets 352,652 343,226
Capital and reserves
Called up share capital 100 100
Profit and loss account 352,552 343,126
Shareholders' funds 352,652 343,226
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M. P. Hunt
Director
Approved by the board on 14 August 2023
KIMBERS (SOUTHERN) LIMITED
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 25% reducing balance
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 15 15
3 Tangible fixed assets
Land and buildings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 May 2022 5,172 209,578 119,081 333,831
Additions - 500 - 500
At 30 April 2023 5,172 210,078 119,081 334,331
Depreciation
At 1 May 2022 4,756 160,305 68,690 233,751
Charge for the year - 7,465 12,598 20,063
At 30 April 2023 4,756 167,770 81,288 253,814
Net book value
At 30 April 2023 416 42,308 37,793 80,517
At 30 April 2022 416 49,273 50,391 100,080
4 Debtors 2023 2022
£ £
Trade debtors 96,321 121,256
Other debtors 43,389 42,713
139,710 163,969
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 127,201 138,921
Directors loan account 11,325 11,430
Corporation Tax 18,308 22,922
Taxation and social security costs 21,473 14,507
Value Added Tax 88,508 73,417
Other creditors 126,875 50,130
393,690 311,327
6 Other information
KIMBERS (SOUTHERN) LIMITED is a private company limited by shares and incorporated in England.
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