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Registered number: 05188305
KELLY DESIGNS LIMITED
Financial Statements
For The Year Ended 31 July 2023
MUFTI & CO.
FINANCIAL ACCOUNTANTS
14 NATAL ROAD
ILFORD
ESSEX
IG1 2HA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 05188305
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,429 3,239
2,429 3,239
CURRENT ASSETS
Debtors 5 1,646 215
Cash at bank and in hand 701 302
2,347 517
Creditors: Amounts Falling Due Within One Year 6 (2,421 ) (1,266 )
NET CURRENT ASSETS (LIABILITIES) (74 ) (749 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,355 2,490
Creditors: Amounts Falling Due After More Than One Year 7 (4,570 ) (5,717 )
NET LIABILITIES (2,215 ) (3,227 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (2,216 ) (3,228 )
SHAREHOLDERS' FUNDS (2,215) (3,227)
Page 1
Page 2
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs KELLY STONE
Director
10/04/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
KELLY DESIGNS LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 05188305 . The registered office is 19 CHURCHILL CLOSE, ONGAR, ESSEX, CM5 9BH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on reducing balance basis
Motor Vehicles 25% on reducing balance basis
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Sales, marketing and distribution 1 1
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 August 2022 24,082 27,737 51,819
As at 31 July 2023 24,082 27,737 51,819
Depreciation
As at 1 August 2022 21,212 27,368 48,580
Provided during the period 718 92 810
As at 31 July 2023 21,930 27,460 49,390
Net Book Value
As at 31 July 2023 2,152 277 2,429
As at 1 August 2022 2,870 369 3,239
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Page 4
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,646 215
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Accruals and deferred income 2,235 1,085
Director's loan account 186 181
2,421 1,266
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 4,570 5,717
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
9. Ultimate Controlling Party
The company's ultimate controlling party is Mrs. Kelly Stone by virtue of her ownership of 100% of the issued share capital in the company.
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