2022-05-01 NI623897 2023-04-30 NI623897 2022-05-01 2023-04-30 NI623897 2022-04-30 NI623897 2021-05-01 2022-04-30 NI623897 uk-core:WithinOneYear 2022-04-30 NI623897 uk-core:WithinOneYear 2023-04-30 NI623897 uk-core:AfterOneYear 2022-04-30 NI623897 uk-core:AfterOneYear 2023-04-30 NI623897 uk-core:ShareCapital 2023-04-30 NI623897 uk-core:ShareCapital 2022-04-30 NI623897 uk-core:RetainedEarningsAccumulatedLosses 2023-04-30 NI623897 uk-core:RetainedEarningsAccumulatedLosses 2022-04-30 NI623897 uk-bus:Director1 2022-05-01 2023-04-30 NI623897 uk-core:PlantMachinery 2022-05-01 2023-04-30 NI623897 uk-core:MotorVehicles 2022-05-01 2023-04-30 NI623897 uk-core:MotorVehicles 2022-04-30 NI623897 uk-core:PlantMachinery 2022-04-30 NI623897 uk-core:PlantMachinery 2023-04-30 NI623897 uk-core:MotorVehicles 2023-04-30 NI623897 uk-core:WithinOneYear 2023-04-30 NI623897 uk-core:WithinOneYear 2022-04-30 NI623897 uk-core:AfterOneYear uk-core:Secured 2023-04-30 NI623897 uk-core:AfterOneYear uk-core:Secured 2022-04-30 iso4217:GBP xbrli:pure NI623897 uk-bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 NI623897 uk-bus:FRS102 2022-05-01 2023-04-30 NI623897 uk-bus:FullAccounts 2022-05-01 2023-04-30 NI623897 uk-bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30
K-Lite Electrical Limited
Registered Number:NI623897
For the year ended 30 April 2023
Northern Ireland
Unaudited Financial Statements
2
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
3
Registered Number :
NI623897
As at 30 April 2023
K-Lite Electrical Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
12,564
13,959
2
12,564
13,959
Current assets
Inventories
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
Capital and reserves
Called up share capital
1
1
Retained earnings
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.
Mr Noel King Director
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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4
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.
Registered address:
31 Davis Street
Keady
Armagh
BT60 3RS
The presentation currency is £ sterling.
1. Accounting policies
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
15 Reducing balance
15 Reducing balance
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.
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5
For the year ended 30 April 2023
K-Lite Electrical Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Motor
Vehicles
Plant and
Machinery
£
£
£
Cost or
valuation
At 01 May 2022
22,900
12,700
10,200
At 30 April 2023
10,200
12,700
22,900
Provision for depreciation and impairment
At 01 May 2022
8,941
5,715
3,226
Charge for year
1,395
349
1,046
At 30 April 2023
10,336
6,064
4,272
At 30 April 2023
Net book value
5,928
6,636
12,564
At 30 April 2022
6,974
6,985
13,959
3. Inventories
2022
2023
£
£
Stocks
12,515
11,810
4. Trade and other receivables
2022
2023
£
£
Trade debtors
114,610
136,159
Other debtors
3,169
14,616
150,775
117,779
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Bank loans and overdraft
7,456
7,456
Trade creditors
84,151
170,980
Taxation and social security
4,058
4,463
Other creditors
60,999
48,845
156,664
231,744
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6
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
£
£
Bank loans and overdraft
15,267
22,017
7. Average number of persons employed
During the year the average number of employees was 2 (2022 : 1)
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