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
KG Vehicle Services Ltd
Company Information
for the year ended 31 May 2024
Company Number
09038179 (England and Wales)
Registered Office
23 MORLEY HILL
STANFORD-LE-HOPE
ESSEX
SS17 8HP
ENGLAND
KG Vehicle Services Ltd
Statement of financial position
as at 31 May 2024
Tangible assets
10,504
12,811
Cash at bank and in hand
7,495
5,104
Creditors: amounts falling due within one year
(22,639)
(18,594)
Net current liabilities
(3,033)
(3,659)
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
KG Vehicle Services Ltd
Notes to the Accounts
for the year ended 31 May 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
KG Vehicle Services Ltd
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
22,639
18,594
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).