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K.w.f (Gb) Limited

Unaudited Financial Statements for the Year Ended 31 May 2023






K.w.f (Gb) Limited (Registered number: 07562662)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


K.w.f (Gb) Limited

Company Information
for the Year Ended 31 May 2023







DIRECTOR: Mrs D Wong





REGISTERED OFFICE: 48 - 52 Penny Lane
Mossley Hill
Liverpool
Merseyside
L18 1DG





REGISTERED NUMBER: 07562662 (England and Wales)





ACCOUNTANTS: Matthews Sutton & Co Ltd
Chartered Certified Accountants
48 - 52 Penny Lane
Mossley Hill
Liverpool
Merseyside
L18 1DG

K.w.f (Gb) Limited (Registered number: 07562662)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 324,623 339,120

CURRENT ASSETS
Stocks 89,617 210,097
Debtors 5 65,378 80,389
Cash at bank 349,405 308,796
504,400 599,282
CREDITORS
Amounts falling due within one year 6 363,268 472,887
NET CURRENT ASSETS 141,132 126,395
TOTAL ASSETS LESS CURRENT
LIABILITIES

465,755

465,515

CREDITORS
Amounts falling due after more than one
year

7

(97,511

)

(111,483

)

PROVISIONS FOR LIABILITIES (6,508 ) (7,980 )
NET ASSETS 361,736 346,052

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 8 361,726 346,042
SHAREHOLDERS' FUNDS 361,736 346,052

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

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 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.

K.w.f (Gb) Limited (Registered number: 07562662)

Balance Sheet - continued
31 May 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 February 2024 and were signed by:





Mrs D Wong - Director


K.w.f (Gb) Limited (Registered number: 07562662)

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

1. STATUTORY INFORMATION

K.w.f (Gb) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% straight line
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 9 ) .

K.w.f (Gb) Limited (Registered number: 07562662)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2022 337,638 142,882 480,520
Additions - 933 933
At 31 May 2023 337,638 143,815 481,453
DEPRECIATION
At 1 June 2022 40,517 100,883 141,400
Charge for year 6,752 8,678 15,430
At 31 May 2023 47,269 109,561 156,830
NET BOOK VALUE
At 31 May 2023 290,369 34,254 324,623
At 31 May 2022 297,121 41,999 339,120

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 62,852 61,064
Other debtors 2,526 19,325
65,378 80,389

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 14,604 15,236
Trade creditors 98,213 217,159
Taxation and social security 20,026 12,115
Other creditors 230,425 228,377
363,268 472,887

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 97,511 111,483

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 39,095 50,540

K.w.f (Gb) Limited (Registered number: 07562662)

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

8. RESERVES
Retained
earnings
£   

At 1 June 2022 346,042
Profit for the year 15,684
At 31 May 2023 361,726