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Registration number: 07798426

Kingsbury Systems Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Kingsbury Systems Limited

Contents
for the Year Ended 31 July 2023

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Kingsbury Systems Limited

Company Information
for the Year Ended 31 July 2023

Director

Mr K M O'Hara

Company secretary

Windsor Accountancy Limited

Registered office

St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

Registered number

07798426 ( England and Wales )

Accountants

Windsor Accountancy Ltd
Chartered Certified Accountants
St. Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

 

Kingsbury Systems Limited

(Registration number: 07798426)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed Assets

 

Tangible Assets

4

405

608

Current assets

 

Debtors

5

578

29,672

Cash at bank and in hand

 

21,386

93,635

 

21,964

123,307

Creditors: Amounts falling due within one year

6

(102)

(35,314)

Net current assets

 

21,862

87,993

Net assets

 

22,267

88,601

Capital and Reserves

 

Called up share capital

100

100

Retained earnings

22,167

88,501

Shareholders' funds

 

22,267

88,601

For the financial year ending 31 July 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 December 2023
 

.........................................
Mr K M O'Hara
Director

 

Kingsbury Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

These financial statements were authorised for issue by the director on 14 December 2023.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

 

Kingsbury Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

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

Office equipment

33% Straight line

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.

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.

3

Staff numbers

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

 

Kingsbury Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Tangible Assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2022

608

608

At 31 July 2023

608

608

Depreciation

Charge for the year

203

203

At 31 July 2023

203

203

Carrying amount

At 31 July 2023

405

405

At 31 July 2022

608

608

5

Debtors

Current

2023
£

2022
£

Trade Debtors

-

29,672

Other debtors

578

-

 

578

29,672

 

Kingsbury Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

-

35,145

Accruals and deferred income

13

-

Other creditors

89

169

102

35,314

7

Related party transactions

2023

At 1 August 2022
£

Advances to director
£

Repayments by director
£

At 31 July 2023
£

Advances and credits

(167)

797

(719)

(89)

         
       

 

2022

At 1 August 2021
£

Advances to director
£

Repayments by director
£

At 31 July 2022
£

Advances and credits

(887)

2,947

(2,227)

(167)

         
       

 

Other transactions with the director

The balance due to the director at the year end date was free of interest and deemed repayable on demand.