Registered number
02115832
Kirkvale Limited
Filleted Accounts
31 March 2024
Kirkvale Limited
Registered number: 02115832
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 4 - -
Tangible assets 3 1,092,100 1,151,230
Investments 6 - -
1,092,100 1,151,230
Current assets
Stocks 22,602 22,602
Debtors 4 43,365 120,228
Investments held as current assets 8 - -
Cash at bank and in hand 8,229 11,633
74,196 154,463
Creditors: amounts falling due within one year 5 (338,523) (588,384)
Net current liabilities (264,327) (433,921)
Total assets less current liabilities 827,773 717,309
Creditors: amounts falling due after more than one year 6 (110,000) -
Provisions for liabilities - -
Net assets 717,773 717,309
Capital and reserves
Called up share capital 100 100
Share premium - -
Revaluation reserve 12 - -
Profit and loss account 717,673 717,209
Shareholders' funds 717,773 717,309
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr V Brewin
Director
Approved by the board on 19 June 2024
Kirkvale Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motot Vehicles 15% RB
Plant and machinery 10% RB
Fixtures, fittings, tools and equipment 10% RB
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 696,221 519,940 107,724 1,323,885
Additions - 16,000 - 16,000
Surplus on revaluation - - - -
Disposals (25,001) - - (25,001)
At 31 March 2024 671,220 535,940 107,724 1,314,884
Depreciation
At 1 April 2023 - 129,007 43,648 172,655
Charge for the year - 40,518 9,611 50,129
Surplus on revaluation - - - -
On disposals - - - -
At 31 March 2024 - 169,525 53,259 222,784
Net book value
At 31 March 2024 671,220 366,415 54,465 1,092,100
At 31 March 2023 696,221 390,933 64,076 1,151,230
Freehold land and buildings: 2024 2023
£ £
Historical cost - -
Cumulative depreciation based on historical cost - -
- -
[For revalued assets, state the years in which the assets were valued and their values. For assets revalued during the reporting period, state the names of the persons who revalued them or particulars of their qualifications for doing so and the bases of valuation used by them.]
4 Debtors 2024 2023
£ £
Trade debtors 43,365 114,577
Amounts owed by group undertakings and undertakings in which the company has a participating interest - -
Deferred tax asset - -
Other debtors - 5,651
43,365 120,228
Amounts due after more than one year included above - -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Non-equity preference shares - -
Bank loans and overdrafts 93,046 119,120
Obligations under finance lease and hire purchase contracts - -
Trade creditors 46,590 225,186
Amounts owed to group undertakings and undertakings in which the company has a participating interest - -
Taxation and social security costs 14,613 14,529
Other creditors 184,274 229,549
338,523 588,384
6 Creditors: amounts falling due after one year 2024 2023
£ £
Non-equity preference shares - -
Bank loans - -
Obligations under finance lease and hire purchase contracts - -
Trade creditors - -
Amounts owed to group undertakings and undertakings in which the company has a participating interest - -
Other creditors 110,000 -
110,000 -
7 Other information
Kirkvale Limited is a private company limited by shares and incorporated in England. Its registered office is:
End of the Line
Pool Street
Church Gresley
Derbyshire
DE11 8EE
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