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Company Registration No. 09038179 (England and Wales)
KG Vehicle Services Ltd Unaudited accounts for the year ended 31 May 2024
KG Vehicle Services Ltd Unaudited accounts Contents
Page
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KG Vehicle Services Ltd Company Information for the year ended 31 May 2024
Director
Kevin Goodyear
Company Number
09038179 (England and Wales)
Registered Office
23 MORLEY HILL STANFORD-LE-HOPE ESSEX SS17 8HP ENGLAND
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KG Vehicle Services Ltd Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
10,504 
12,811 
Current assets
Inventories
3,008 
- 
Debtors
9,103 
9,831 
Cash at bank and in hand
7,495 
5,104 
19,606 
14,935 
Creditors: amounts falling due within one year
(22,639)
(18,594)
Net current liabilities
(3,033)
(3,659)
Net assets
7,471 
9,152 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
7,470 
9,151 
Shareholders' funds
7,471 
9,152 
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 August 2024 and were signed on its behalf by
Kevin Goodyear Director Company Registration No. 09038179
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KG Vehicle Services Ltd Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
KG Vehicle Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 09038179. The registered office is 23 MORLEY HILL, STANFORD-LE-HOPE, ESSEX, SS17 8HP, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
The turnover shown in the profit and loss account represents revenue earned during the period, exclusive of VAT
Tangible fixed assets policy
Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. Plant and Machinery - 18% on cost, Fixtures and fittings - 18% on cost, Motor vehicles - 18% on cost.
Valuation information and policy
Stocks and work -in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Other accounting policies
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. Research and Development Expenditure on research and development is written off in the year in which it is incurred.
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KG Vehicle Services Ltd Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 June 2023
13,859 
At 31 May 2024
13,859 
Depreciation
At 1 June 2023
1,048 
Charge for the year
2,307 
At 31 May 2024
3,355 
Net book value
At 31 May 2024
10,504 
At 31 May 2023
12,811 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
9,103 
9,831 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
22,639 
18,594 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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