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Company registration number: 01293080







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


KINGSMARKHAM ENTERPRISES LIMITED






































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KINGSMARKHAM ENTERPRISES LIMITED
 


 
COMPANY INFORMATION


Directors
S A C Rendell 
P Rendell 




Registered number
01293080



Registered office
Magna House
18-32 London Road

Staines-Upon-Thames

Surrey

TW18 4BP




Accountants
Menzies LLP
Chartered Accountants

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


KINGSMARKHAM ENTERPRISES LIMITED
 



CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 5


 


KINGSMARKHAM ENTERPRISES LIMITED
REGISTERED NUMBER:01293080



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 5 
25,000
50,000

  
25,000
50,000

Current assets
  

Debtors: amounts falling due within one year
 6 
656
27,911

Cash at bank and in hand
  
313,521
380,446

  
314,177
408,357

Creditors: amounts falling due within one year
 7 
(38,339)
(120,638)

Net current assets
  
 
 
275,838
 
 
287,719

Total assets less current liabilities
  
300,838
337,719

  

Net assets
  
300,838
337,719


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
300,738
337,619

  
300,838
337,719


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



S A C Rendell
Director
Date: 17 April 2024

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 


KINGSMARKHAM ENTERPRISES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Kingsmarkham Enterprises Limited is a private company limited by shares, incorporated in England and Wales. The address of the registered office is disclosed on the company information page.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the company's Statement of Financial Position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.4

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.

Page 2

 


KINGSMARKHAM ENTERPRISES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022- 2).


4.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
19,068
17,860

Adjustments in respect of previous periods
(86)
-


18,982
17,860

Foreign tax


Foreign tax on income for the year
460
318

460
318

Total current tax
19,442
18,178

Deferred tax

Total deferred tax
-
-


Taxation on profit on ordinary activities
19,442
18,178
Page 3

 


KINGSMARKHAM ENTERPRISES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
4.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is lower than (2022 - the same as) the standard rate of corporation tax in the UK of 25% (2022 - 19%). The differences are explained below:

2023
2022
£
£


Profit on ordinary activities before tax
90,485
95,887


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2022 - 19%)
21,283
18,218

Effects of:


Higher rate taxes on overseas earnings
460
318

Adjustments to tax charge in respect of prior periods
(86)
-

Double taxation relief
(420)
(358)

Marginal relief
(1,795)
-

Total tax charge for the year
19,442
18,178


5.


Intangible assets




Royalty rights

£



Cost


At 1 January 2023
250,000



At 31 December 2023

250,000



Amortisation


At 1 January 2023
200,000


Charge for the year on owned assets
25,000



At 31 December 2023

225,000



Net book value



At 31 December 2023
25,000



At 31 December 2022
50,000



Page 4

 


KINGSMARKHAM ENTERPRISES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
-
1,356

Other debtors
-
12,623

Prepayments and accrued income
656
13,932

656
27,911



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,966
4,110

Corporation tax
19,068
17,860

Other taxation and social security
4,529
-

Other creditors
3,276
91,168

Accruals and deferred income
7,500
7,500

38,339
120,638


 
Page 5