KENSINGTON CONTRACTORS LTD

Company Registration Number:
10267659 (England and Wales)

Unaudited abridged accounts for the year ended 31 July 2023

Period of accounts

Start date: 01 August 2022

End date: 31 July 2023

KENSINGTON CONTRACTORS LTD

Contents of the Financial Statements

for the Period Ended 31 July 2023

Balance sheet
Notes

KENSINGTON CONTRACTORS LTD

Balance sheet

As at 31 July 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 629,016 32,200
Total fixed assets: 629,016 32,200
Current assets
Debtors:   411,647 196,767
Cash at bank and in hand: 13,704 207,760
Total current assets: 425,351 404,527
Creditors: amounts falling due within one year:   (744,200) (365,806)
Net current assets (liabilities): (318,849) 38,721
Total assets less current liabilities: 310,167 70,921
Total net assets (liabilities): 310,167 70,921
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 309,167 69,921
Shareholders funds: 310,167 70,921

The notes form part of these financial statements

KENSINGTON CONTRACTORS LTD

Balance sheet statements

For the year ending 31 July 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 16 November 2023
and signed on behalf of the board by:

Name: Serin Yildiz
Status: Director

The notes form part of these financial statements

KENSINGTON CONTRACTORS LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Tangible fixed assets and depreciation policy

Tangible assetsTangible 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.DepreciationDepreciation 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:Fixtures and fittings at 12% of NBV per annum.Other tangible assets at 15% of NBV per annum.

Other accounting policies

General informationThe company is a private company limited by share capital, incorporated in England and wales.The address of its registered office is:Unit 18 Exhibition House, Addison Bridge Place,LondonW14 8XPEnglandThese financial statements were authorised for issue by the Board on 16 November 2023.Accounting PoliciesSummary of significant accounting policies and key accounting estimatesThe principal accounting policies applied in the preparation these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.Statement of complianceThese 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 preparationThese 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 concernThe financial statements have been prepared on a going concern basis.Revenue recognitionTurnover 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.TaxThe tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.Cash and cash equivalentsCash 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 debtorsTrade 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 creditorsTrade 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.BorrowingsInterest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.Share capitalOrdinary 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.

KENSINGTON CONTRACTORS LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

2. Employees

2023 2022
Average number of employees during the period 11 11

KENSINGTON CONTRACTORS LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

3. Tangible Assets

Total
Cost £
At 01 August 2022 90,148
Additions 645,248
At 31 July 2023 735,396
Depreciation
At 01 August 2022 57,948
Charge for year 48,432
At 31 July 2023 106,380
Net book value
At 31 July 2023 629,016
At 31 July 2022 32,200