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REGISTERED NUMBER: 03047093 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Kirton Sectional Buildings Limited

Kirton Sectional Buildings Limited (Registered number: 03047093)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kirton Sectional Buildings Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: S A Nicholson





SECRETARY: Mrs A M Nicholson





REGISTERED OFFICE: Station Road
Kirton in Lindsey
Gainsborough
Lincolnshire
DN21 4BD





REGISTERED NUMBER: 03047093 (England and Wales)






Kirton Sectional Buildings Limited (Registered number: 03047093)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 313,416 331,062
313,416 331,062

CURRENT ASSETS
Stocks 407,854 481,376
Debtors 6 40,381 34,195
Cash at bank and in hand 258,141 234,524
706,376 750,095
CREDITORS
Amounts falling due within one year 7 193,387 192,340
NET CURRENT ASSETS 512,989 557,755
TOTAL ASSETS LESS CURRENT
LIABILITIES

826,405

888,817

PROVISIONS FOR LIABILITIES 14,784 18,300
NET ASSETS 811,621 870,517

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 811,521 870,417
811,621 870,517

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Kirton Sectional Buildings Limited (Registered number: 03047093)

Balance Sheet - continued
31 May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 August 2024 and were signed by:





S A Nicholson - Director


Kirton Sectional Buildings Limited (Registered number: 03047093)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Kirton Sectional Buildings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Web development is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Kirton Sectional Buildings Limited (Registered number: 03047093)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2023
and 31 May 2024 4,500
AMORTISATION
At 1 June 2023
and 31 May 2024 4,500
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 June 2023 346,654 232,083 41,049 85,280 705,066
Additions - - 1,250 - 1,250
Disposals - - (625 ) - (625 )
At 31 May 2024 346,654 232,083 41,674 85,280 705,691
DEPRECIATION
At 1 June 2023 89,813 204,385 32,742 47,064 374,004
Charge for year 3,398 4,155 1,322 9,554 18,429
Eliminated on disposal - - (158 ) - (158 )
At 31 May 2024 93,211 208,540 33,906 56,618 392,275
NET BOOK VALUE
At 31 May 2024 253,443 23,543 7,768 28,662 313,416
At 31 May 2023 256,841 27,698 8,307 38,216 331,062

Included in cost of land and buildings is freehold land of £ 181,729 (2023 - £ 181,729 ) which is not depreciated.

Kirton Sectional Buildings Limited (Registered number: 03047093)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 12,961 1,656
Other debtors 27,420 32,539
40,381 34,195

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 138,208 131,775
Taxation and social security 32,538 40,907
Other creditors 22,641 19,658
193,387 192,340

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr S A Nicholson who controls the entire allotted share capital of the company.