K-Lite Electrical Limited |
Registered Number:NI623897 |
For the year ended 30 April 2023
Northern Ireland
Unaudited Financial Statements
For the year ended 30 April 2023
K-Lite Electrical Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
K-Lite Electrical Limited
Statement of Financial Position
2022
2023
Property, plant and equipment |
12,564
13,959
2
12,564
13,959
11,810
12,515
3
Trade and other receivables |
150,775
117,779
4
80,579
Cash and cash equivalents |
34,662
164,956
243,164
Trade and other payables: amounts falling due within one |
year |
(231,744)
(156,664)
5
11,420
8,292
Net current assets
Total assets less current liabilities |
20,856
25,379
Trade and other payables: amounts falling due after more |
than one year |
(22,017)
(15,267)
6
5,589
Net assets
3,362
1
1
5,588
3,361
5,589
3,362
Shareholders' funds
For the year ended 30 April 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of |
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section |
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial |
statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
These financial statements were approved and authorised for issue by the Board on 21 November 2023 and were signed by: |
The notes form part of these financial statements |
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For the year ended 30 April 2023
K-Lite Electrical Limited
Notes to the Financial Statements
Statutory Information
K-Lite Electrical Limited is a private limited company, limited by shares, domiciled in Northern Ireland, registration |
number NI623897. |
31 Davis Street
Keady
Armagh
BT60 3RS
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes. |
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and Machinery
Motor Vehicles
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. |
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate at the date of transaction. Exchange rate differences are taken into account in arriving at the operating result. |
2 of 4
For the year ended 30 April 2023
K-Lite Electrical Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment |
22,900
12,700
10,200
10,200
12,700
22,900
Provision for depreciation and impairment |
8,941
5,715
3,226
Charge for year
1,395
349
1,046
10,336
6,064
4,272
5,928
6,636
12,564
6,974
6,985
13,959
2022
2023
12,515
11,810
4. Trade and other receivables |
2022
2023
114,610
136,159
3,169
14,616
150,775
117,779
5. Trade and other payables: amounts falling due within one year |
2022
2023
7,456
7,456
84,151
170,980
Taxation and social security |
4,058
4,463
60,999
48,845
156,664
231,744
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For the year ended 30 April 2023
K-Lite Electrical Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year |
2022
2023
15,267
22,017
7. Average number of persons employed |
During the year the average number of employees was 2 (2022 : 1)
4 of 4