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No description of principal activity
2022-12-01
Sage Accounts Production Advanced 2023 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
09880065
2022-12-01
2023-11-30
09880065
2023-11-30
09880065
2022-11-30
09880065
2021-12-01
2022-11-30
09880065
2022-11-30
09880065
2021-11-30
09880065
core:PlantMachinery
2022-12-01
2023-11-30
09880065
core:FurnitureFittings
2022-12-01
2023-11-30
09880065
core:MotorVehicles
2022-12-01
2023-11-30
09880065
bus:OrdinaryShareClass1
2022-12-01
2023-11-30
09880065
bus:Director1
2022-12-01
2023-11-30
09880065
core:WithinOneYear
2023-11-30
09880065
core:WithinOneYear
2022-11-30
09880065
core:AfterOneYear
2023-11-30
09880065
core:AfterOneYear
2022-11-30
09880065
core:ShareCapital
2023-11-30
09880065
core:ShareCapital
2022-11-30
09880065
core:RetainedEarningsAccumulatedLosses
2023-11-30
09880065
core:RetainedEarningsAccumulatedLosses
2022-11-30
09880065
core:CostValuation
core:Non-currentFinancialInstruments
2022-11-30
09880065
core:DisposalsRepaymentsInvestments
core:Non-currentFinancialInstruments
2023-11-30
09880065
core:Non-currentFinancialInstruments
2022-11-30
09880065
bus:SmallEntities
2022-12-01
2023-11-30
09880065
bus:AuditExemptWithAccountantsReport
2022-12-01
2023-11-30
09880065
bus:SmallCompaniesRegimeForAccounts
2022-12-01
2023-11-30
09880065
bus:PrivateLimitedCompanyLtd
2022-12-01
2023-11-30
09880065
bus:AbridgedAccounts
2022-12-01
2023-11-30
09880065
bus:OrdinaryShareClass1
2023-11-30
09880065
bus:OrdinaryShareClass1
2022-11-30
09880065
core:ComputerEquipment
2022-12-01
2023-11-30
COMPANY REGISTRATION NUMBER:
09880065
Kingscrest Services Limited |
|
Filleted Unaudited Abridged Financial Statements |
|
Kingscrest Services Limited |
|
Abridged Financial Statements |
|
Year Ended 30 November 2023
Abridged statement of financial position |
1 to 2 |
|
|
Notes to the abridged financial statements |
3 to 7 |
|
|
Kingscrest Services Limited |
|
Abridged Statement of Financial Position |
|
30 November 2023
|
2023 |
2022 |
|
|
|
(restated) |
Note |
£ |
£ |
£ |
|
|
|
|
Fixed Assets
Tangible assets |
5 |
|
83,993 |
181,944 |
Investments |
6 |
|
– |
510,500 |
|
|
-------- |
--------- |
|
|
83,993 |
692,444 |
|
|
|
|
|
Current Assets
Debtors |
1,313,119 |
|
1,250,809 |
Cash at bank and in hand |
139,645 |
|
142,285 |
|
------------ |
|
------------ |
|
1,452,764 |
|
1,393,094 |
|
|
|
|
Creditors: amounts falling due within one year |
927,765 |
|
920,410 |
|
------------ |
|
------------ |
Net Current Assets |
|
524,999 |
472,684 |
|
|
--------- |
------------ |
Total Assets Less Current Liabilities |
|
608,992 |
1,165,128 |
|
|
|
|
Creditors: amounts falling due after more than one year |
|
21,435 |
70,046 |
|
|
|
|
Provisions |
|
18,843 |
19,971 |
|
|
--------- |
------------ |
Net Assets |
|
568,714 |
1,075,111 |
|
|
--------- |
------------ |
|
|
|
|
Capital and Reserves
Called up share capital |
8 |
|
100 |
100 |
Profit and loss account |
|
568,614 |
1,075,011 |
|
|
--------- |
------------ |
Shareholders Funds |
|
568,714 |
1,075,111 |
|
|
--------- |
------------ |
|
|
|
|
|
These abridged 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 abridged income statement 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 abridged 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 abridged financial statements
.
Kingscrest Services Limited |
|
Abridged Statement of Financial Position (continued) |
|
30 November 2023
All of the members have consented to the preparation of the abridged income statement and the abridged statement of financial position for the year ending 30 November 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
30 July 2024
, and are signed on behalf of the board by:
Company registration number:
09880065
Kingscrest Services Limited |
|
Notes to the Abridged 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 Mansion House, 19 Kingfield Road, Sheffield, South Yorkshire, S11 9AS.
2.
Statement of compliance
These abridged 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 except for the modification to a fair value basis for certain fixed assets as specified in the accounting policies below. The financial statements are prepared in sterling, which is functional currency of the entity.
Going concern
The director monitors results and cash flow on an ongoing basis. The director believes the company has sufficient working capital to continue to trade for the foreseeable future. Therefore, the director considers it is appropriate to prepare the financial statements on a going concern basis.
Revenue recognition
The turnover shown in the financial statements represents fees earned for services provided during the period, net of VAT.
Income tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
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 or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant and machinery |
- |
25% reducing balance |
|
Fixtures and fittings |
- |
15% reducing balance |
|
Motor vehicles |
- |
25% reducing balance |
|
Equipment |
- |
33% straight line |
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government and local authority grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
13
(2022:
15
).
5.
Tangible assets
|
£ |
Cost |
|
At 1 December 2022 as restated |
250,831 |
Additions |
9,972 |
Disposals |
(
104,625) |
|
--------- |
At 30 November 2023 |
156,178 |
|
--------- |
Depreciation |
|
At 1 December 2022 |
68,887 |
Charge for the year |
39,262 |
Disposals |
(
35,964) |
|
--------- |
At 30 November 2023 |
72,185 |
|
--------- |
Carrying amount |
|
At 30 November 2023 |
83,993 |
|
--------- |
At 30 November 2022 |
181,944 |
|
--------- |
|
|
6.
Investments
|
£ |
Cost |
|
At 1 December 2022 as restated |
510,500 |
Disposals |
(
510,500) |
|
--------- |
At 30 November 2023 |
– |
|
--------- |
Impairment |
|
At 1 December 2022 as restated and 30 November 2023 |
– |
|
--------- |
Carrying amount |
|
At 30 November 2022 |
510,500 |
|
--------- |
|
|
7.
Prior period adjustment
A vehicle under a hire purchase agreement was omitted from the 2022 accounts in error. A prior year adjustment has been made resulting in changes to tangible fixed assets, hire purchase creditor and directors loan account. Profit and loss account reserves have decreased by £15,029.
8.
Called up share capital
Issued, called up and fully paid
|
2023 |
2022 |
|
|
|
(restated) |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
100 |
100 |
100 |
100 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
9.
Securities
There is a fixed and floating debenture charge over the assets of the company for a loan in the name of Burton & Burton Properties, a partnership in which the director and shareholders of
Kingscrest Services Limited
have an interest in.
10.
Directors' advances, credits and guarantees
The company operated an interest free loan account to the director during the period. The summary of the movement for the year is as follows:
|
|
Balance b/f |
Advances |
Repayments |
Balance c/f |
|
|
£ |
£ |
£ |
£ |
|
Directors loan account |
(229,912) |
293,312 |
(365,668) |
(157,556) |
|
|
|
|
|
|
11.
Related party transactions
During the year the company provided and received short and long term loans from related parties. The balances outstanding due from/(to) related parties at 30 November 2023 are as follows:
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Amounts owed from group undertakings |
668,368 |
– |
|
Amounts owed to group undertakings |
(87,314) |
– |
|
Amounts owed from other related parties |
38,879 |
672,973 |
|
Amounts owed to other related parties |
(371,646) |
(394,724) |
|
|
|
|
The above are unsecured and repayable on demand.
12.
Controlling party
The ultimate parent company is RB & RB Holdings Limited, a company incorporated in England and Wales.