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COMPANY REGISTRATION NUMBER: 09594943
The Kentish Group Limited
Filleted Unaudited Financial Statements
30 November 2023
The Kentish Group Limited
Financial Statements
Period from 1 June 2022 to 30 November 2023
Contents
Page
Officers and professional advisers
1
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
The Kentish Group Limited
Officers and Professional Advisers
The board of directors
Mrs J Bowden
Mr D Bowden
Registered office
Second Floor
Riverside Offices
26 St George's Quay
Lancaster
LA1 1 RD
Accountants
Riverside Accountancy Lancaster Limited
Chartered accountants
Second Floor, Riverside Offices
26 St George's Quay
Lancaster
LA1 1RD
Bankers
Santander UK plc
Bridle Road
Bootle
Merseyside
L30 4GB
The Kentish Group Limited
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of The Kentish Group Limited
Period from 1 June 2022 to 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Kentish Group Limited for the period ended 30 November 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of The Kentish Group Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of The Kentish Group Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Kentish Group Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that The Kentish Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Kentish Group Limited. You consider that The Kentish Group Limited is exempt from the statutory audit requirement for the period. We have not been instructed to carry out an audit or a review of the financial statements of The Kentish Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Riverside Accountancy Lancaster Limited Chartered accountants
Second Floor, Riverside Offices 26 St George's Quay Lancaster LA1 1RD
9 August 2024
The Kentish Group Limited
Statement of Financial Position
30 November 2023
30 Nov 23
31 May 22
Note
£
£
Fixed assets
Tangible assets
5
1,351
694
Current assets
Stocks
15,484
16,524
Debtors
6
18,543
6
Cash at bank and in hand
8,658
12,488
--------
--------
42,685
29,018
Creditors: amounts falling due within one year
7
52,709
13,300
--------
--------
Net current (liabilities)/assets
( 10,024)
15,718
--------
--------
Total assets less current liabilities
( 8,673)
16,412
Creditors: amounts falling due after more than one year
8
9,167
11,667
--------
--------
Net (liabilities)/assets
( 17,840)
4,745
--------
--------
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
( 17,940)
4,645
--------
-------
Shareholders (deficit)/funds
( 17,840)
4,745
--------
-------
These 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 statement of comprehensive income has not been delivered.
For the period 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 financial statements for the period 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 financial statements .
The Kentish Group Limited
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 9 August 2024 , and are signed on behalf of the board by:
Mrs J Bowden
Director
Company registration number: 09594943
The Kentish Group Limited
Notes to the Financial Statements
Period from 1 June 2022 to 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 Second Floor, Riverside Offices, 26 St George's Quay, Lancaster, LA1 1 RD.
2. Statement of compliance
These 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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. The financial statements have been rounded to the nearest £1.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Fixtures and fittings
-
33% straight line
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2 (2022: 2 ).
5. Tangible assets
Fixtures and fittings
£
Cost
At 1 June 2022
3,127
Additions
1,541
Disposals
( 348)
-------
At 30 November 2023
4,320
-------
Depreciation
At 1 June 2022
2,433
Charge for the period
884
Disposals
( 348)
-------
At 30 November 2023
2,969
-------
Carrying amount
At 30 November 2023
1,351
-------
At 31 May 2022
694
-------
6. Debtors
30 Nov 23
31 May 22
£
£
Other debtors
18,543
6
--------
----
7. Creditors: amounts falling due within one year
30 Nov 23
31 May 22
£
£
Bank loans and overdrafts
1,667
1,802
Trade creditors
25,320
3,548
Social security and other taxes
5,777
2,564
Other creditors
19,945
5,386
--------
--------
52,709
13,300
--------
--------
8. Creditors: amounts falling due after more than one year
30 Nov 23
31 May 22
£
£
Bank loans and overdrafts
9,167
11,667
-------
--------
9. Called up share capital
Issued, called up and fully paid
30 Nov 23
31 May 22
No.
£
No.
£
Ordinary A shares of £ 1 each
50
50
50
50
Ordinary B shares of £ 1 each
50
50
50
50
----
----
----
----
100
100
100
100
----
----
----
----
10. Related party transactions
During the year a creditor balance with a related party of £12,169 was written off.
11. Controlling party
The company is controlled by its directors.