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Registration number: 00349742

F KENWORTHY LIMITED

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 19 February 2023

 

F KENWORTHY LIMITED

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Abridged Profit and Loss Account

4

Statement of Comprehensive Income

5

Abridged Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Abridged Financial Statements

8 to 11

 

F KENWORTHY LIMITED

Company Information

Directors

R Kenworthy

A Kenworthy

Registered office

30 Allen Close
Dunstable
Bedfordshire
LU5 4DG

Accountants

MINNEY & COMPANY LIMITED
59 Union Street
Dunstable
Beds
LU6 1EX

 

F KENWORTHY LIMITED

Directors' Report for the Year Ended 19 February 2023

The directors present their report and the abridged financial statements for the year ended 19 February 2023.

Directors of the company

The directors who held office during the year were as follows:

R Kenworthy

A Kenworthy

Principal activity

The principal activity of the company is the management and letting of commercial property

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 16 November 2023 and signed on its behalf by:
 

.........................................
A Kenworthy
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
F KENWORTHY LIMITED
for the Year Ended 19 February 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of F KENWORTHY LIMITED for the year ended 19 February 2023 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of F KENWORTHY LIMITED, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of F KENWORTHY LIMITED and state those matters that we have agreed to state to the Board of Directors of F KENWORTHY LIMITED, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than F KENWORTHY LIMITED and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that F KENWORTHY LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of F KENWORTHY LIMITED. You consider that F KENWORTHY LIMITED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of F KENWORTHY LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

MINNEY & COMPANY LIMITED
59 Union Street
Dunstable
Beds
LU6 1EX

16 November 2023

 

F KENWORTHY LIMITED

Abridged Profit and Loss Account for the Year Ended 19 February 2023

Note

2023
£

2022
£

Gross profit

 

27,500

32,958

Administrative expenses

 

(38,308)

(41,424)

Income from other fixed assets investments

 

97

92

Other interest receivable and similar income

 

6,435

5,385

Loss before tax

(4,276)

(2,989)

Loss for the financial year

 

(4,276)

(2,989)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

F KENWORTHY LIMITED

Statement of Comprehensive Income for the Year Ended 19 February 2023

2023
£

2022
£

Loss for the year

(4,276)

(2,989)

Total comprehensive income for the year

(4,276)

(2,989)

 

F KENWORTHY LIMITED

(Registration number: 00349742)
Abridged Balance Sheet as at 19 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

111,675

111,675

Other financial assets

2,153

2,589

 

113,828

114,264

Current assets

 

Debtors

5

28,018

9,610

Cash at bank and in hand

 

436,851

466,552

 

464,869

476,162

Creditors: Amounts falling due within one year

(3,938)

(1,627)

Net current assets

 

460,931

474,535

Total assets less current liabilities

 

574,759

588,799

Accruals and deferred income

 

(31,649)

(39,349)

Net assets

 

543,110

549,450

Capital and reserves

 

Called up share capital

6

104

104

Retained earnings

543,006

549,346

Shareholders' funds

 

543,110

549,450

For the financial year ending 19 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 16 November 2023 and signed on its behalf by:
 

.........................................
A Kenworthy
Director

 

F KENWORTHY LIMITED

Statement of Changes in Equity for the Year Ended 19 February 2023

Share capital
£

Retained earnings
£

Total
£

At 20 February 2022

104

549,346

549,450

Prior period adjustment

-

(1,024)

(1,024)

At 20 February 2022 (As restated)

104

548,322

548,426

Loss for the year

-

(4,276)

(4,276)

Dividends

-

(1,040)

(1,040)

At 19 February 2023

104

543,006

543,110

Share capital
£

Retained earnings
£

Total
£

At 20 February 2021

104

557,743

557,847

Loss for the year

-

(2,989)

(2,989)

Dividends

-

(5,408)

(5,408)

At 19 February 2022

104

549,346

549,450

 

F KENWORTHY LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 19 February 2023

1

General information

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

The address of its registered office is:
30 Allen Close
Dunstable
Bedfordshire
LU5 4DG
England

These financial statements were authorised for issue by the Board on 16 November 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 abridged 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 abridged 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.

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:

 

F KENWORTHY LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 19 February 2023

Asset class

Depreciation method and rate

Office equipment

25% 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.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 directors) during the year, was 2 (2022 - 2).

 

F KENWORTHY LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 19 February 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 20 February 2022

111,675

741

112,416

At 19 February 2023

111,675

741

112,416

Depreciation

At 20 February 2022

-

741

741

At 19 February 2023

-

741

741

Carrying amount

At 19 February 2023

111,675

-

111,675

At 19 February 2022

111,675

-

111,675

Included within the net book value of land and buildings above is £111,675 (2022 - £111,675) in respect of freehold land and buildings.
 

5

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

ordinary of £1 each

104

104

104

104

         

7

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £10.00 (2022 - £52.00) per ordinary share

 

1,040

 

5,408

         

8

Related party transactions

 

F KENWORTHY LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 19 February 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

15,808

14,832

Contributions paid to money purchase schemes

7,200

18,400

23,008

33,232