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Kent Gaskets Limited
Registered Number:08413992
For the year ended 31 May 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 31 May 2023
Kent Gaskets Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Registered Number :
08413992
As at 31 May 2023
Kent Gaskets Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
168,135
171,397
2
168,135
171,397
Current assets
Inventories
11,835
10,592
3
Trade and other receivables
80,622
67,104
4
38,289
Cash and cash equivalents
51,061
128,757
130,746
Trade and other payables: amounts falling due within one
year
(333,767)
(374,413)
5
(203,021)
(245,656)
Net current liabilities
Total assets less current liabilities
(77,521)
(31,624)
-
(6,152)
Provisions for liabilities
(77,521)
Net liabilities
(37,776)
Capital and reserves
Called up share capital
200
200
Retained earnings
(77,721)
(37,976)
(77,521)
(37,776)
Shareholders' funds
For the year ended 31 May 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Andrew Hatchman Director
Mr Steven Turner Director
These financial statements were approved and authorised for issue by the Board on 16 February 2024 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 May 2023
Kent Gaskets Limited
Notes to the Financial Statements
Statutory Information
Kent Gaskets Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 08413992.
Registered address:
Unit 22
Leigh Road
Ramsgate
Kent
CT12 5EU
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
25 Reducing balance
25 Reducing balance
Computer equipment
25 Straight line
Motor vehicles
25 Reducing balance
Fixtures and fittings
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Motor vehicles
Plant and
machinery
Land and
buildings
£
£
£
£
£
£
Cost or
valuation
At 01 June 2022
252,685
900
1,939
10,300
80,892
158,654
At 31 May 2023
158,654
10,300
1,939
900
252,685
80,892
Provision for depreciation and impairment
At 01 June 2022
81,288
558
1,767
10,300
68,663
-
Charge for year
3,262
59
146
-
3,057
-
At 31 May 2023
84,550
617
1,913
10,300
71,720
-
At 31 May 2023
Net book value
158,654
9,172
-
26
283
168,135
158,654
12,229
-
172
342
171,397
At 31 May 2022
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5
For the year ended 31 May 2023
Kent Gaskets Limited
Notes to the Financial Statements Continued
3. Inventories
2022
2023
£
£
Stocks
10,592
11,835
4. Trade and other receivables
2022
2023
£
£
Trade debtors
67,104
65,622
Amounts owed by group undertakings and participating interests
-
15,000
80,622
67,104
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Bank loans and overdraft (secured)
30,547
40,543
Bank loans and overdraft
64,060
52,716
Trade creditors
133,500
144,720
Taxation and social security
61,017
61,716
Other creditors
85,289
34,072
374,413
333,767
6. Average number of persons employed
During the year the average number of employees was 0
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