REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE PERIOD 11 MAY 2022 TO 31 MAY 2023 |
FOR |
Kingsand Gin Ltd |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE PERIOD 11 MAY 2022 TO 31 MAY 2023 |
FOR |
Kingsand Gin Ltd |
Kingsand Gin Ltd (Registered number: 14099771) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the period 11 May 2022 to 31 May 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 6 |
Kingsand Gin Ltd |
COMPANY INFORMATION |
for the period 11 May 2022 to 31 May 2023 |
Director: |
Registered office: |
Registered number: |
Accountants: |
129 North Hill |
Plymouth |
Devon |
PL4 8JY |
Kingsand Gin Ltd (Registered number: 14099771) |
BALANCE SHEET |
31 May 2023 |
Notes | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Stocks |
Cash at bank |
Creditors |
Amounts falling due within one year | 5 |
Net current liabilities | ( |
) |
Total assets less current liabilities | ( |
) |
Capital and reserves |
Called up share capital | 6 |
Retained earnings | ( |
) |
Shareholders' funds | ( |
) |
The director acknowledges her 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. |
Kingsand Gin Ltd (Registered number: 14099771) |
BALANCE SHEET - continued |
31 May 2023 |
In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Kingsand Gin Ltd (Registered number: 14099771) |
NOTES TO THE FINANCIAL STATEMENTS |
for the period 11 May 2022 to 31 May 2023 |
1. | STATUTORY INFORMATION |
Kingsand Gin Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The financial statements have been prepared on the going concern basis. This basis assumes that the company will have sufficient funding to enable it to continue to operate for the foreseeable future with the support of the director, who believes that the going concern basis of preparation remains appropriate in the company's circumstances. |
Turnover |
Turnover is measured at the fair value of the consideration receivable, net of discounts. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of goods have transferred to the buyer. |
Stocks |
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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. |
Kingsand Gin Ltd (Registered number: 14099771) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 11 May 2022 to 31 May 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
Debtors |
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
Creditors |
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. |
Provisions |
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
The company does not own any fixed assets. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other creditors |
Kingsand Gin Ltd (Registered number: 14099771) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 11 May 2022 to 31 May 2023 |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | 1 | 1 |
1 ordinary share of £1 was issued in the period, all shares rank pari passu. |
7. | RELATED PARTY DISCLOSURES |
At the balance sheet date the company owed £26,542 to its director Mrs K Carr. |
8. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mrs K Carr. |