1 false false false false false false false false false true false false false false false false No description of principal activity 2022-03-01 Sage Accounts Production Advanced 2021 - FRS102_2021 15,000 15,000 13,500 750 14,250 1,500 xbrli:pure xbrli:shares iso4217:GBP 04531589 2022-03-01 2023-02-28 04531589 2023-02-28 04531589 2022-02-28 04531589 2021-03-01 2022-02-28 04531589 2022-02-28 04531589 core:FurnitureFittings 2022-03-01 2023-02-28 04531589 bus:Director1 2022-03-01 2023-02-28 04531589 core:NetGoodwill 2022-02-28 04531589 core:FurnitureFittings 2022-02-28 04531589 core:WithinOneYear 2023-02-28 04531589 core:WithinOneYear 2022-02-28 04531589 core:NetGoodwill 2022-03-01 2023-02-28 04531589 core:ShareCapital 2023-02-28 04531589 core:ShareCapital 2022-02-28 04531589 core:RetainedEarningsAccumulatedLosses 2023-02-28 04531589 core:RetainedEarningsAccumulatedLosses 2022-02-28 04531589 core:NetGoodwill 2022-02-28 04531589 core:FurnitureFittings 2022-02-28 04531589 bus:SmallEntities 2022-03-01 2023-02-28 04531589 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 04531589 bus:FullAccounts 2022-03-01 2023-02-28 04531589 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 04531589 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 04531589 core:ComputerEquipment 2022-03-01 2023-02-28 04531589 core:ComputerEquipment 2022-02-28
COMPANY REGISTRATION NUMBER: 04531589
Kevan Design Production Limited
Filleted Unaudited Financial Statements
28 February 2023
Kevan Design Production Limited
Financial Statements
Year ended 28th February 2023
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 5
Kevan Design Production Limited
Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
1,500
Tangible assets
6
453
----
------
1,953
Current assets
Debtors
7
250
12,134
Cash at bank and in hand
1
1
----
--------
251
12,135
Creditors: amounts falling due within one year
8
23,681
22,721
--------
--------
Net current liabilities
23,430
10,586
--------
--------
Total assets less current liabilities
( 23,430)
( 8,633)
Provisions
Taxation including deferred tax
86
--------
------
Net liabilities
( 23,430)
( 8,719)
--------
------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 23,431)
( 8,720)
--------
------
Shareholders deficit
( 23,430)
( 8,719)
--------
------
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 28th February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Kevan Design Production Limited
Statement of Financial Position (continued)
28 February 2023
These financial statements were approved by the board of directors and authorised for issue on 11 September 2023 , and are signed on behalf of the board by:
Mr K Porter
Director
Company registration number: 04531589
Kevan Design Production Limited
Notes to the Financial Statements
Year ended 28th February 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 1 Lamorna Court, 43 Wollaton Road, Beeston, Nottingham, NG9 2NG.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Remaining life over 3 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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:
Fixtures and fittings
-
20% reducing balance
Equipment
-
25% straight line
Government grants
Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it it becomes receivable.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Intangible assets
Goodwill
£
Cost
At 1st March 2022
15,000
Additions
Disposals
( 15,000)
--------
At 28th February 2023
--------
Amortisation
At 1st March 2022
13,500
Charge for the year
750
Disposals
( 14,250)
--------
At 28th February 2023
--------
Carrying amount
At 28th February 2023
--------
At 28th February 2022
1,500
--------
6. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1st March 2022
5,626
12,525
18,151
Disposals
( 5,626)
( 12,525)
( 18,151)
------
--------
--------
At 28th February 2023
------
--------
--------
Depreciation
At 1st March 2022
5,173
12,525
17,698
Charge for the year
91
91
Disposals
( 5,264)
( 12,525)
( 17,789)
------
--------
--------
At 28th February 2023
------
--------
--------
Carrying amount
At 28th February 2023
------
--------
--------
At 28th February 2022
453
453
------
--------
--------
7. Debtors
2023
2022
£
£
Trade debtors
250
Other debtors
12,134
----
--------
250
12,134
----
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
7,349
9,885
Trade creditors
3,695
5,771
Social security and other taxes
4,030
6,065
Other creditors
8,607
1,000
--------
--------
23,681
22,721
--------
--------
9. Director's advances, credits and guarantees
The director had an advance of £ 9,158 during the year ended 28 February 2022. This advance was paid back in full to the company in March 2022.