2023-04-012024-03-312024-03-31false08248224OFFICE KIT (SOLUTIONS) 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OFFICE KIT (SOLUTIONS) LIMITED

Registered Number
08248224
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

OFFICE KIT (SOLUTIONS) LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

ROSE, Lynsey Anne
ROSE, Richard John

Registered Address

Woodbarn New Road
Swanwick
Southampton
SO31 7HE

Registered Number

08248224 (England and Wales)
OFFICE KIT (SOLUTIONS) LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33,3994,316
3,3994,316
Current assets
Stocks8,0008,000
Debtors44,9548,242
Cash at bank and on hand18,22335,984
31,17752,226
Creditors amounts falling due within one year5(21,300)(30,439)
Net current assets (liabilities)9,87721,787
Total assets less current liabilities13,27626,103
Creditors amounts falling due after one year6(20,534)(24,076)
Net assets(7,258)2,027
Capital and reserves
Called up share capital1010
Profit and loss account(7,268)2,017
Shareholders' funds(7,258)2,027
The financial statements were approved and authorised for issue by the Board of Directors on 31 July 2024, and are signed on its behalf by:
ROSE, Lynsey Anne
Director
Registered Company No. 08248224
OFFICE KIT (SOLUTIONS) LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Current taxation
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Vehicles20
Office Equipment33
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 2325,209
Additions345
At 31 March 2425,554
Depreciation and impairment
At 01 April 2320,893
Charge for year1,262
At 31 March 2422,156
Net book value
At 31 March 243,399
At 31 March 234,316
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables3,0312,019
Amounts owed by associates and joint ventures / participating interests-6,223
Other debtors1,923-
Total4,9548,242
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.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables6,77420,874
Bank borrowings and overdrafts3,7503,950
Amounts owed to related parties2,705-
Taxation and social security4,9963,965
Other creditors1,200-
Accrued liabilities and deferred income1,8751,650
Total21,30030,439
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.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts20,53424,076
Total20,53424,076
7.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
ROSE, Richard John6,22332,98441,912(2,705)
6,22332,98441,912(2,705)