K9 Wagons Ltd 14572024 false 2023-01-05 2024-01-31 2024-01-31 The principal activity of the company is that of the leasing and sale of K9 wagons Digita Accounts Production Advanced 6.30.9574.0 true true 14572024 2023-01-05 2024-01-31 14572024 2024-01-31 14572024 core:CurrentFinancialInstruments 2024-01-31 14572024 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 14572024 bus:SmallEntities 2023-01-05 2024-01-31 14572024 bus:AuditExemptWithAccountantsReport 2023-01-05 2024-01-31 14572024 bus:FullAccounts 2023-01-05 2024-01-31 14572024 bus:SmallCompaniesRegimeForAccounts 2023-01-05 2024-01-31 14572024 bus:RegisteredOffice 2023-01-05 2024-01-31 14572024 bus:Director1 2023-01-05 2024-01-31 14572024 bus:Director2 2023-01-05 2024-01-31 14572024 bus:PrivateLimitedCompanyLtd 2023-01-05 2024-01-31 14572024 core:PlantMachinery 2023-01-05 2024-01-31 14572024 countries:AllCountries 2023-01-05 2024-01-31 iso4217:GBP xbrli:pure

Registration number: 14572024

K9 Wagons Ltd

Annual Report and Unaudited Financial Statements

for the Period from 5 January 2023 to 31 January 2024

 

K9 Wagons Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

K9 Wagons Ltd

Company Information

Directors

Dr Abigail Hall

Mr Jonathan Croad

Registered office

97a Westmoor Park
Tavistock
Devon
PL19 9AB

Accountants

Gibbs & Co Chartered Accountants
18 Tamar Close
Bere Alston
Yelverton
Devon
PL20 7HF

 

K9 Wagons Ltd

(Registration number: 14572024)
Balance Sheet as at 31 January 2024

Note

2024
£

Fixed assets

 

Tangible assets

1,048

Current assets

 

Stocks

5,471

Debtors

191

Cash at bank and in hand

 

2,111

 

7,773

Creditors: Amounts falling due within one year

(2,738)

Net current assets

 

5,035

Net assets

 

6,083

Capital and reserves

 

Called up share capital

2

Retained earnings

6,081

Shareholders' funds

 

6,083

For the financial period ending 31 January 2024 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 27 February 2024 and signed on its behalf by:
 

.........................................
Dr Abigail Hall
Director

.........................................
Mr Jonathan Croad
Director

 

K9 Wagons Ltd

Notes to the Unaudited Financial Statements for the Period from 5 January 2023 to 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
97a Westmoor Park
Tavistock
Devon
PL19 9AB
England

These financial statements were authorised for issue by the Board on 27 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

K9 Wagons Ltd

Notes to the Unaudited Financial Statements for the Period from 5 January 2023 to 31 January 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

K9 Wagons Ltd

Notes to the Unaudited Financial Statements for the Period from 5 January 2023 to 31 January 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.