Financial Statements |
for the Period 1 April 2022 to 31 August 2023 |
for |
Kippford Developments Limited |
Financial Statements |
for the Period 1 April 2022 to 31 August 2023 |
for |
Kippford Developments Limited |
Kippford Developments Limited (Registered number: 11400113) |
Contents of the Financial Statements |
for the Period 1 April 2022 to 31 August 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Kippford Developments Limited |
Company Information |
for the Period 1 April 2022 to 31 August 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Suite 4, 10/12 The Grove, |
Ilkley |
West Yorkshire |
LS29 9EG |
Kippford Developments Limited (Registered number: 11400113) |
Balance Sheet |
31 August 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Debtors | 4 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 7 | ( |
) |
( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps 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 Sections 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 were approved by the Board of Directors and authorised for issue on |
Kippford Developments Limited (Registered number: 11400113) |
Notes to the Financial Statements |
for the Period 1 April 2022 to 31 August 2023 |
1. | STATUTORY INFORMATION |
Kippford Developments Limited is a |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
STOCKS |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
TAXATION |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
DEFERRED TAX |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2022 - NIL). |
Kippford Developments Limited (Registered number: 11400113) |
Notes to the Financial Statements - continued |
for the Period 1 April 2022 to 31 August 2023 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
Debtor bond | - | 1,500 |
Directors' current accounts | - | 889 |
VAT |
Prepayments |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other loans (see note 6) |
Corporation tax |
VAT | - | 609 |
Other creditors |
Directors' current accounts | 713 | 9,312 |
Accrued expenses |
6. | LOANS |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
£ | £ |
Amounts falling due within one year or on demand: |
Other loans |
7. | RESERVES |
Retained |
earnings |
£ |
At 1 April 2022 | ( |
) |
Profit for the period |
At 31 August 2023 |
Kippford Developments Limited (Registered number: 11400113) |
Notes to the Financial Statements - continued |
for the Period 1 April 2022 to 31 August 2023 |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the period ended 31 August 2023 and the year ended 31 March 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced | ( |
) |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period | ( |
) |
Balance outstanding at start of period | ( |
) | ( |
) |
Amounts advanced | ( |
) |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period | ( |
) | ( |
) |
No dividends were declared throughout the year (2022 - Nil). The company owed the directors' £713 as at 31st August 2023 (2022 - £9,312). |
9. | RELATED PARTY DISCLOSURES |
The inter-company loan to Kippford Investments has been fully repaid throughout this accounting period, a company in which one of the directors' Mr P N Newstead is the controlling member. The balance owed as at 31st March 2022 totalled £812,447. |