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REGISTERED NUMBER: 00939351 (England and Wales)









Unaudited Financial Statements

for the Year Ended

31 October 2023

for

M & L A Kirby Limited

M & L A Kirby Limited (Registered number: 00939351)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


M & L A Kirby Limited (Registered number: 00939351)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 763,178 774,186

CURRENT ASSETS
Stocks 420,907 427,900
Debtors 5 120,930 116,839
Cash at bank and in hand 984,552 898,247
1,526,389 1,442,986
CREDITORS
Amounts falling due within one year 6 204,888 241,689
NET CURRENT ASSETS 1,321,501 1,201,297
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,084,679

1,975,483

PROVISIONS FOR LIABILITIES 92,074 94,191
NET ASSETS 1,992,605 1,881,292

CAPITAL AND RESERVES
Called up share capital 7 90 90
Capital redemption reserve 8 10 10
Retained earnings 8 1,992,505 1,881,192
SHAREHOLDERS' FUNDS 1,992,605 1,881,292

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

M & L A Kirby Limited (Registered number: 00939351)

Balance Sheet - continued
31 October 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 April 2024 and were signed on its behalf by:




M Kirby - Director



M J Bruce - Director


M & L A Kirby Limited (Registered number: 00939351)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

M & L A Kirby Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00939351

Registered office: Inglebank
High Street
Boston Spa
Wetherby
West Yorkshire
LS23 6AW

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value.

Turnover
Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised on delivery.

Tangible fixed assets
Tangible fixed assets (other than freehold property) are stated at purchase cost, net of depreciation and any provision for impairment.

Depreciation is provided on tangible assets at rates calculated to write off the cost less estimated residual value of each asset on a straight line basis over its expected useful life as follows:

Freehold property- no depreciation charged
Plant and machinery- 15% on reducing balance
Fixtures and fittings- 25% on reducing balance
Motor vehicles- 25% on reducing balance
Computer equipment- 25% on reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset after deducting estimated costs of disposal, if the asset were already at an age and in the condition expected at the end of its estimated useful life.

The gain or loss arising on the disposal of an asset is determined on the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.


M & L A Kirby Limited (Registered number: 00939351)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued
Taxation
Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date and are expected to apply to the reversal of the timing difference.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme and that of directors' personal pension schemes are charged to profit or loss in the period to which they relate.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

Where material, the cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an Annual General Meeting.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - trade debtors, other debtors, cash and bank balances, trade creditors and other creditors.

Trade debtors, Other debtors, cash and bank balances, trade creditors and other creditors are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received.

M & L A Kirby Limited (Registered number: 00939351)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

Impairment of assets
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss as described below.

Non financial assets
An asset is impaired when there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Financial assets
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had the impairment loss not been recognised.

Critical accounting judgements and sources of estimation uncertainty
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The critical judgements that the directors have made in applying the company's accounting policies and the key sources of estimation uncertainty that have had the most significant effect on the amounts recognised in the financial statements are described below:

Freehold property
The company makes an estimate of the fair value of freehold property at each reporting date. The last valuation of the company's freehold property was performed at 28 February 2018 by Feather Smailes Scales LLP. The directors undertake a review of the freehold property at each reporting date to assess whether the fair value has changed significantly since the previous reporting date. When assessing the fair values, management considers current commercial property trends and rental yields.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

M & L A Kirby Limited (Registered number: 00939351)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2022 675,000 526,547 1,201,547
Additions - 30,505 30,505
Disposals - (44,000 ) (44,000 )
At 31 October 2023 675,000 513,052 1,188,052
DEPRECIATION
At 1 November 2022 - 427,361 427,361
Charge for year - 23,531 23,531
Eliminated on disposal - (26,018 ) (26,018 )
At 31 October 2023 - 424,874 424,874
NET BOOK VALUE
At 31 October 2023 675,000 88,178 763,178
At 31 October 2022 675,000 99,186 774,186


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 111,794 106,081
Other debtors 9,136 10,758
120,930 116,839

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 77,896 108,251
Taxation and social security 121,257 129,140
Other creditors 5,735 4,298
204,888 241,689

7. CALLED UP SHARE CAPITAL

2023 2022
£ £
Allotted, issued and fully paid 90 90

8. RESERVES

At 31 October 2023 within retained earnings is a non-distributable amount of £333,074 (2022: £333,074) relating to fair value adjustments to freehold property and the recognition of the associated deferred tax liability.

M & L A Kirby Limited (Registered number: 00939351)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
M J Bruce and H L Bruce
Balance outstanding at start of year - -
Amounts advanced 52 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 52 -