Company registration number 12489335 (England and Wales)
KENT QUANTITY-SURVEYORS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
KENT QUANTITY-SURVEYORS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
KENT QUANTITY-SURVEYORS LTD (REGISTERED NUMBER: 12489335)
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
18,417
21,874
Current assets
Debtors
4
37,823
21,564
Cash at bank and in hand
37,995
58,805
75,818
80,369
Creditors: amounts falling due within one year
5
(31,314)
(45,620)
Net current assets
44,504
34,749
Total assets less current liabilities
62,921
56,623
Creditors: amounts falling due after more than one year
6
(3,825)
(5,525)
Provisions for liabilities
(3,499)
(4,156)
Net assets
55,597
46,942
Capital and reserves
Called up share capital
7
2
1
Profit and loss reserves
55,595
46,941
Total equity
55,597
46,942

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

KENT QUANTITY-SURVEYORS LTD (REGISTERED NUMBER: 12489335)
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2023
28 February 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 8 November 2023
Mr A G R Baker
Director
KENT QUANTITY-SURVEYORS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 3 -
1
Accounting policies
Company information

Kent Quantity-Surveyors LTD is a private company limited by shares incorporated in England and Wales. The registered office is Willbury, Sunnybank Lane, Fletcher's Bridge, Bodmin, Cornwall, PL30 4AN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received for services provided in the normal course of business.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% Reducing Balance
Fixtures and fittings
25% Reducing Balance
Computers
25% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

KENT QUANTITY-SURVEYORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
KENT QUANTITY-SURVEYORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 5 -
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 March 2022
14,750
885
12,274
27,909
Additions
-
0
-
0
2,276
2,276
At 28 February 2023
14,750
885
14,550
30,185
Depreciation and impairment
At 1 March 2022
2,151
318
3,566
6,035
Depreciation charged in the year
3,150
142
2,441
5,733
At 28 February 2023
5,301
460
6,007
11,768
Carrying amount
At 28 February 2023
9,449
425
8,543
18,417
At 28 February 2022
12,599
567
8,708
21,874
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
35,714
15,681
Other debtors
2,109
5,883
37,823
21,564
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
1,700
1,700
Trade creditors
330
-
0
Taxation and social security
17,406
25,585
Other creditors
11,878
18,335
31,314
45,620
KENT QUANTITY-SURVEYORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 6 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
3,825
5,525
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
1
1
1
1
Ordinary B of £1 each
1
-
1
-
2
1
2
1
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