8 false false false false false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2023 - FRS102_2023 52,885 52,885 xbrli:pure xbrli:shares iso4217:GBP 03659028 2022-12-01 2023-11-30 03659028 2023-11-30 03659028 2022-11-30 03659028 2021-12-01 2022-11-30 03659028 2022-11-30 03659028 2021-11-30 03659028 core:LandBuildings 2022-12-01 2023-11-30 03659028 core:PlantMachinery 2022-12-01 2023-11-30 03659028 core:FurnitureFittings 2022-12-01 2023-11-30 03659028 core:MotorVehicles 2022-12-01 2023-11-30 03659028 bus:Director1 2022-12-01 2023-11-30 03659028 core:NetGoodwill 2023-11-30 03659028 core:LandBuildings 2022-11-30 03659028 core:PlantMachinery 2022-11-30 03659028 core:FurnitureFittings 2022-11-30 03659028 core:MotorVehicles 2022-11-30 03659028 core:LandBuildings 2023-11-30 03659028 core:PlantMachinery 2023-11-30 03659028 core:FurnitureFittings 2023-11-30 03659028 core:MotorVehicles 2023-11-30 03659028 core:WithinOneYear 2023-11-30 03659028 core:WithinOneYear 2022-11-30 03659028 core:AfterOneYear 2022-11-30 03659028 core:ShareCapital 2023-11-30 03659028 core:ShareCapital 2022-11-30 03659028 core:RetainedEarningsAccumulatedLosses 2023-11-30 03659028 core:RetainedEarningsAccumulatedLosses 2022-11-30 03659028 core:PlantMachinery 2022-11-30 03659028 core:FurnitureFittings 2022-11-30 03659028 core:MotorVehicles 2022-11-30 03659028 bus:SmallEntities 2022-12-01 2023-11-30 03659028 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 03659028 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 03659028 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 03659028 bus:FullAccounts 2022-12-01 2023-11-30 03659028 core:NetGoodwill 2022-12-01 2023-11-30 03659028 core:ComputerEquipment 2022-12-01 2023-11-30 03659028 core:ComputerEquipment 2022-11-30 03659028 core:ComputerEquipment 2023-11-30
COMPANY REGISTRATION NUMBER: 03659028
Kalehurst Garden Machinery Ltd
Filleted Unaudited Financial Statements
30 November 2023
Kalehurst Garden Machinery Ltd
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
6
106,349
125,594
Current assets
Stocks
340,172
538,134
Debtors
7
93,193
44,138
Cash at bank and in hand
545,275
486,578
---------
------------
978,640
1,068,850
Creditors: amounts falling due within one year
8
238,502
385,360
---------
------------
Net current assets
740,138
683,490
---------
---------
Total assets less current liabilities
846,487
809,084
Creditors: amounts falling due after more than one year
9
40,810
Provisions
Taxation including deferred tax
13,374
13,626
---------
---------
Net assets
833,113
754,648
---------
---------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
832,113
753,648
---------
---------
Shareholders funds
833,113
754,648
---------
---------
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 income and retained earnings 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Kalehurst Garden Machinery Ltd
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 28 August 2024 , and are signed on behalf of the board by:
Mr N Taylor
Director
Company registration number: 03659028
Kalehurst Garden Machinery Ltd
Notes to the 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 5 Minton Place, Victoria Road, Bicester, Oxon, OX26 6QB.
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.
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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10 Years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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.
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:
Leasehold Property
-
20% straight line
Plant & Machinery
-
15% reducing balance
Fixtures & fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the 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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2022: 9 ).
5. Intangible assets
Goodwill
£
Cost
At 1 December 2022 and 30 November 2023
52,885
--------
Amortisation
At 1 December 2022 and 30 November 2023
52,885
--------
Carrying amount
At 30 November 2023
--------
At 30 November 2022
--------
6. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Dec 2022
18,565
27,137
53,364
167,453
1,073
267,592
Additions
8,144
8,144
Disposals
( 9,869)
( 9,869)
--------
--------
--------
---------
-------
---------
At 30 Nov 2023
18,565
17,268
61,508
167,453
1,073
265,867
--------
--------
--------
---------
-------
---------
Depreciation
At 1 Dec 2022
18,565
18,947
6,675
96,738
1,073
141,998
Charge for the year
792
7,277
17,287
25,356
Disposals
( 7,836)
( 7,836)
--------
--------
--------
---------
-------
---------
At 30 Nov 2023
18,565
11,903
13,952
114,025
1,073
159,518
--------
--------
--------
---------
-------
---------
Carrying amount
At 30 Nov 2023
5,365
47,556
53,428
106,349
--------
--------
--------
---------
-------
---------
At 30 Nov 2022
8,190
46,689
70,715
125,594
--------
--------
--------
---------
-------
---------
7. Debtors
2023
2022
£
£
Trade debtors
55,520
25,378
Other debtors
37,673
18,760
--------
--------
93,193
44,138
--------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
90,943
271,403
Corporation tax
27,240
26,512
Social security and other taxes
61,011
40,430
Other creditors
59,308
47,015
---------
---------
238,502
385,360
---------
---------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
40,810
----
--------
10. Director's advances, credits and guarantees