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Registration number: 09477734

K Ford Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2023

 

K Ford Ltd

Contents
__________________________________________________________________________

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 11

 

K Ford Ltd

Company Information
__________________________________________________________________________

Director

K Ford

Registered office

342, Regents Park Road
London
N3 2LJ


 

Accountants

Brooks Green
Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

 

K Ford Ltd

Director's Report for the Year Ended 30 April 2023
__________________________________________________________________________

The director presents his report and the financial statements for the year ended 30 April 2023.

Director of the company

The director who held office during the year was as follows:

K Ford

Principal activity

The principal activity of the company is Medical Doctor

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 31 January 2042 and signed on its behalf by:



K Ford
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Statutory Accounts of
K Ford Ltd
__________________________________________________________________________

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of K Ford Ltd for the year ended 30 April 2023 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of K Ford Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of K Ford Ltd and state those matters that we have agreed to state to the Board of Directors of K Ford Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than K Ford Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that K Ford Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of K Ford Ltd. You consider that K Ford Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of K Ford Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.






Brooks Green Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

9 February 2024

 

K Ford Ltd

Profit and Loss Account for the Year Ended 30 April 2023
__________________________________________________________________________

Note

2023
£

2022
£

Turnover

 

123,871

144,750

Administrative expenses

 

(107,966)

(82,832)

Operating profit

 

15,905

61,918

Profit before tax

3

15,905

61,918

Taxation

 

(3,002)

(11,612)

Profit for the financial year

 

12,903

50,306

Retained earnings brought forward

 

37,075

23,469

Dividends paid

 

(45,000)

(36,700)

Retained earnings carried forward

 

4,978

37,075

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

K Ford Ltd

Statement of Comprehensive Income for the Year Ended 30 April 2023
__________________________________________________________________________

2023
£

2022
£

Profit for the year

12,903

50,306

Total comprehensive income for the year

12,903

50,306

 

K Ford Ltd

(Registration number: 09477734)
Balance Sheet as at 30 April 2023
__________________________________________________________________________

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,149

1,042

Current assets

 

Debtors

5

7,500

100,000

Cash at bank and in hand

 

5,413

23,270

 

12,913

123,270

Creditors: Amounts falling due within one year

6

(9,083)

(87,236)

Net current assets

 

3,830

36,034

Net assets

 

4,979

37,076

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

4,978

37,075

Shareholders' funds

 

4,979

37,076

For the financial year ending 30 April 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 31 January 2042
 

.........................................
K Ford
Director

 

K Ford Ltd

Statement of Changes in Equity for the Year Ended 30 April 2023
__________________________________________________________________________

Share capital
£

Retained earnings
£

Total
£

At 1 May 2022

1

37,075

37,076

Profit for the year

-

12,903

12,903

Dividends

-

(45,000)

(45,000)

At 30 April 2023

1

4,978

4,979

 

K Ford Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
__________________________________________________________________________

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These 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.

Revenue recognition

Turnover 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.

Tax

The tax expense for the period comprises current 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.

Tangible assets

Tangible 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.

Depreciation

Depreciation 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:

Asset class

Depreciation method and rate

Fixtures and Fittings

33% on straight line basis

 

K Ford Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
__________________________________________________________________________

Cash and cash equivalents

Cash 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 debtors

Trade 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 creditors

Trade 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.

Share capital

Ordinary 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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

3

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

818

754

 

K Ford Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
__________________________________________________________________________

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2022

4,973

4,973

Additions

925

925

At 30 April 2023

5,898

5,898

Depreciation

At 1 May 2022

3,931

3,931

Charge for the year

818

818

At 30 April 2023

4,749

4,749

Carrying amount

At 30 April 2023

1,149

1,149

At 30 April 2022

1,042

1,042

5

Debtors

Current

2023
£

2022
£

Prepayments

7,500

-

Other debtors

-

100,000

 

7,500

100,000

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

3,002

11,612

Accruals and deferred income

3,450

3,240

Other creditors

2,631

72,384

9,083

87,236

 

K Ford Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
__________________________________________________________________________

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

1

1

1

1

         

8

Incentive Scheme

Contribution to Incentive Scheme
By a deed dated 27 March 2018, the Company established an Incentive Scheme. During the accounting period, the Company gifted £76,250 (2022 - £60,000) to the Scheme. No taxation liability arose to the Compoany as a result of such transaction.