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COMPANY REGISTRATION NUMBER: 06742438
Kimble Limited
Filleted Unaudited Financial Statements
30 November 2023
Kimble Limited
Financial Statements
Year ended 30 November 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Kimble Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
2,196
2,744
Current assets
Debtors
6
3,952
337
Cash at bank and in hand
84,752
115,239
--------
---------
88,704
115,576
Creditors: amounts falling due within one year
7
990
8,283
--------
---------
Net current assets
87,714
107,293
--------
---------
Total assets less current liabilities
89,910
110,037
Provisions
Taxation including deferred tax
417
521
--------
---------
Net assets
89,493
109,516
--------
---------
Kimble Limited
Statement of Financial Position (continued)
30 November 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
2
2
Profit and loss account
89,491
109,514
--------
---------
Shareholders funds
89,493
109,516
--------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 15 February 2024 , and are signed on behalf of the board by:
M F Kimble
T D Kimble
Director
Director
Company registration number: 06742438
Kimble Limited
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Midway House, Herrick Way, Staverton Technology Park, Staverton, Cheltenham, GL51 6TQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% per annum of reducing balance
Fixtures and fittings
-
20% per annum of reducing balance
Office equipment
-
40% per annum of reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Defined contribution plans policy
Contributions to defined contribution plans are recognised as an expense in the period to which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Plant and machinery
Office equipment
Total
£
£
£
Cost
At 1 December 2022 and 30 November 2023
9,399
2,173
11,572
-------
-------
--------
Depreciation
At 1 December 2022
7,197
1,631
8,828
Charge for the year
330
218
548
-------
-------
--------
At 30 November 2023
7,527
1,849
9,376
-------
-------
--------
Carrying amount
At 30 November 2023
1,872
324
2,196
-------
-------
--------
At 30 November 2022
2,202
542
2,744
-------
-------
--------
6. Debtors
2023
2022
£
£
Other debtors
3,952
337
-------
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
40
Social security and other taxes
5,676
Other creditors
990
2,567
----
-------
990
8,283
----
-------
8. Directors' advances, credits and guarantees
During the year a total of £30,000 (2022 - £40,000) was advanced to the directors. The full amount was repaid by the directors prior to the end of the reporting date. No interest has been charged on the amount advanced.
9. Related party transactions
At the end of the reporting period the company owed £208 (2022 - £312) to the directors on their loan account with the company. No interest has been charged on this account.