KIERON WILLIAMSON LTD
Registered number: 07215651
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 205,645 222,488
Investments 5 13,400 -
219,045 222,488
Current assets
Stocks 1,353,439 1,326,292
Debtors 6 240 29,789
Cash at bank and in hand 202,513 310,578
1,556,192 1,666,659
Creditors: amounts falling due within one year 7 (24,955) (27,997)
Net current assets 1,531,237 1,638,662
Total assets less current liabilities 1,750,282 1,861,150
Creditors: amounts falling due after more than one year 8 (118,010) (161,363)
Net assets 1,632,272 1,699,787
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,632,172 1,699,687
Shareholders' funds 1,632,272 1,699,787
Average number of employees 3 3
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.
Mr K Williamson
Director
Approved by the board on 19 October 2023
KIERON WILLIAMSON LTD
Notes to the Accounts
for the year ended 31 March 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.
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 Nil
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in unquoted equity instruments are measured at fair value. Changes in fair value are recognised in profit or loss. Fair value is estimated by using a valuation technique.
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
2 Exceptional items 2023 2022
£ £
Land and buildings 0
Motor vehicles -3,311
(3,311) -
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 3
4 Tangible fixed assets
Land and buildings Furniture and Equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 171,118 8,049 61,989 241,156
Additions 7,096 1,845 - 8,941
Disposals - - (24,132) (24,132)
At 31 March 2023 178,214 9,894 37,857 225,965
Depreciation
At 1 April 2022 - 5,065 13,603 18,668
Charge for the year - 965 - 965
On disposals - - 687 687
At 31 March 2023 - 6,030 14,290 20,320
Net book value
At 31 March 2023 178,214 3,864 23,567 205,645
At 31 March 2022 171,118 2,984 48,386 222,488
5 Investments
Other
investments
£
Cost
Additions 13,400
At 31 March 2023 13,400
6 Debtors 2023 2022
£ £
Trade debtors - 4,066
Other debtors 240 25,723
240 29,789
7 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,767 15,454
Corporation tax 2,955 9,255
Other taxes and social security costs 27 995
Other creditors 11,206 2,293
24,955 27,997
8 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 29,912 40,630
Obligations under finance lease and hire purchase contracts - 14,273
Other creditors 88,098 106,460
118,010 161,363
9 Other information
KIERON WILLIAMSON LTD is a private company limited by shares and incorporated in England. Its registered office is:
Glaven Farm Barn
Thornage road
Letheringsett
Norfolk
NR25 7JE
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