2022-07-092023-07-312023-07-31false14224557KRM LETTINGS 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KRM LETTINGS LTD

Registered Number
14224557
(England and Wales)

Unaudited Financial Statements for the Period ended
31 July 2023

KRM LETTINGS LTD
Company Information
for the period from 9 July 2022 to 31 July 2023

Director

Miss K R McAleese

Registered Address

35 Canesworde Road
Dunstable
LU6 3JL

Registered Number

14224557 (England and Wales)
KRM LETTINGS LTD
Balance Sheet as at
31 July 2023

Notes

2023

£

£

Fixed assets
Tangible assets673,500
73,500
Current assets
Cash at bank and on hand778
778
Creditors amounts falling due within one year8(80,352)
Net current assets (liabilities)(79,574)
Total assets less current liabilities(6,074)
Net assets(6,074)
Capital and reserves
Called up share capital1
Profit and loss account(6,075)
Shareholders' funds(6,074)
The financial statements were approved and authorised for issue by the Director on 3 February 2024, and are signed on its behalf by:
Miss K R McAleese
Director
Registered Company No. 14224557
KRM LETTINGS LTD
Notes to the Financial Statements
for the period ended 31 July 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
4.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Revenue recognition policy
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Taxation policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Valuation of financial instruments policy
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Going concern
After making appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future for at least one year from the date of the financial information. For these reasons they continue to adopt the going concern basis in preparing the company's financial information.
5.Employee information

2023
Average number of employees during the year1
6.Property, plant and equipment

Land & buildings

Total

££
Cost or valuation
Additions73,50073,500
At 31 July 2373,50073,500
Net book value
At 31 July 2373,50073,500
At 08 July 22--
7.Description of nature of transactions and balances with related parties
At the balance sheet date, the company owed a director £25,184.
8.Creditors within one year

2023

£
Bank borrowings and overdrafts54,919
Other creditors25,184
Accrued liabilities and deferred income249
Total80,352
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
9.Creditors after one year