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COMPANY REGISTRATION NUMBER: 08360082
KENDRAY CONSTRUCTION LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 May 2023
KENDRAY CONSTRUCTION LIMITED
STATEMENT OF FINANCIAL POSITION
31 May 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
104,351
13,618
CURRENT ASSETS
Stocks
52,000
52,000
Debtors
6
657,715
627,543
Cash at bank and in hand
473,591
129,257
------------
---------
1,183,306
808,800
CREDITORS: amounts falling due within one year
7
1,032,132
569,721
------------
---------
NET CURRENT ASSETS
151,174
239,079
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
255,525
252,697
CREDITORS: amounts falling due after more than one year
8
160,676
147,951
PROVISIONS
11,595
2,587
---------
---------
NET ASSETS
83,254
102,159
---------
---------
CAPITAL AND RESERVES
Called up share capital fully paid
100
100
Profit and loss account
83,154
102,059
--------
---------
SHAREHOLDERS FUNDS
83,254
102,159
--------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
KENDRAY CONSTRUCTION LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 9 November 2023 , and are signed on behalf of the board by:
Mr J Howden
Mr J P Andrew
Director
Director
Company registration number: 08360082
KENDRAY CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Mill Farm Barn, Church Street, Wadenhoe, Northamptonshire, PE8 5ST.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts receivable during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 3 (2022: 4 ).
5. TANGIBLE ASSETS
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 June 2022
5,750
10,264
48,639
24,439
89,092
Additions
101,669
3,335
105,004
-------
--------
---------
--------
---------
At 31 May 2023
5,750
10,264
150,308
27,774
194,096
-------
--------
---------
--------
---------
Depreciation
At 1 June 2022
2,070
9,432
39,645
24,327
75,474
Charge for the year
736
187
12,603
745
14,271
-------
--------
---------
--------
---------
At 31 May 2023
2,806
9,619
52,248
25,072
89,745
-------
--------
---------
--------
---------
Carrying amount
At 31 May 2023
2,944
645
98,060
2,702
104,351
-------
--------
---------
--------
---------
At 31 May 2022
3,680
832
8,994
112
13,618
-------
--------
---------
--------
---------
6. DEBTORS
2023
2022
£
£
Trade debtors
592,737
483,383
Other debtors
64,978
144,160
---------
---------
657,715
627,543
---------
---------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
62,500
62,500
Trade creditors
822,482
368,312
Corporation tax
18,173
31,050
Social security and other taxes
18,384
14,615
Other creditors
110,593
93,244
------------
---------
1,032,132
569,721
------------
---------
Included within other creditors are amounts of £14,440 relating to hire purchase contracts which are secured on the assets to which they relate.
8. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
90,356
147,951
Other creditors
70,320
---------
---------
160,676
147,951
---------
---------
Included within other creditors are amounts of £70,320 relating to hire purchase contracts which are secured on the assets to which they relate.
9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr J Howden
Mr J P Andrew
89,312
( 89,312)
--------
--------
----
89,312
( 89,312)
--------
--------
----
2022
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr J Howden
90,000
( 90,000)
Mr J P Andrew
( 1,275)
90,587
89,312
--------
--------
--------
88,725
587
89,312
--------
--------
--------