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Registered number: 04566722
Kentkraft Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Alan Stanton & Co Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04566722
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,400 2,400
Tangible Assets 5 435,528 349,317
437,928 351,717
CURRENT ASSETS
Stocks 6 622,578 326,000
Debtors 7 734,428 456,889
Cash at bank and in hand 60,302 66,417
1,417,308 849,306
Creditors: Amounts Falling Due Within One Year 8 (776,519 ) (368,630 )
NET CURRENT ASSETS (LIABILITIES) 640,789 480,676
TOTAL ASSETS LESS CURRENT LIABILITIES 1,078,717 832,393
Creditors: Amounts Falling Due After More Than One Year 9 (194,129 ) (221,227 )
NET ASSETS 884,588 611,166
CAPITAL AND RESERVES
Called up share capital 11 2 2
Profit and Loss Account 884,586 611,164
SHAREHOLDERS' FUNDS 884,588 611,166
Page 1
Page 2
For the year ending 31 October 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Larry Smith
Director
25/03/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Kentkraft Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04566722 . The registered office is Fleet House, Alan Stanton & Co Limited, Unit 3, 1 Armstrong Road, Benfleet, Essex, SS7 4FH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing balance
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 32 (2022: 27)
32 27
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 November 2022 211,600 2,400 214,000
As at 31 October 2023 211,600 2,400 214,000
Amortisation
As at 1 November 2022 211,600 - 211,600
As at 31 October 2023 211,600 - 211,600
Net Book Value
As at 31 October 2023 - 2,400 2,400
As at 1 November 2022 - 2,400 2,400
5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 November 2022 13,044 490,922 503,966
Additions 1,132 135,202 136,334
Disposals (8,500 ) - (8,500 )
As at 31 October 2023 5,676 626,124 631,800
Depreciation
As at 1 November 2022 10,347 144,302 154,649
Provided during the period 806 48,182 48,988
Disposals (7,365 ) - (7,365 )
As at 31 October 2023 3,788 192,484 196,272
Net Book Value
As at 31 October 2023 1,888 433,640 435,528
As at 1 November 2022 2,697 346,620 349,317
6. Stocks
2023 2022
£ £
Stock 622,578 326,000
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Page 5
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 686,835 456,889
Other debtors 47,593 -
734,428 456,889
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 104,860 86,995
Trade creditors 396,536 118,015
Bank loans and overdrafts 43,920 40,000
Corporation tax - (505 )
Other taxes and social security 37,166 33,912
VAT 62,678 10,491
Other creditors 17,607 8,727
Directors' loan accounts 113,752 70,995
776,519 368,630
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 130,429 117,527
Bank loans 60,000 100,000
Accruals and deferred income 3,700 3,700
194,129 221,227
10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 104,860 86,995
Later than one year and not later than five years 130,429 117,527
235,289 204,522
235,289 204,522
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
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