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REGISTERED NUMBER: SC249720 (Scotland)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Kingfisher Building Products Limited

Kingfisher Building Products Limited (Registered number: SC249720)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kingfisher Building Products Limited

Company Information
for the Year Ended 31 August 2023







DIRECTOR: G L Grainger





SECRETARY: Mrs A J Ballingall MBA





REGISTERED OFFICE: 150 Shuna Street
Glasgow
G20 9ES





REGISTERED NUMBER: SC249720 (Scotland)





ACCOUNTANTS: WR Accountants
Bank Chambers
31 The Square
Cumnock
Ayrshire
KA18 1AT

Kingfisher Building Products Limited (Registered number: SC249720)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,025 14,046
Tangible assets 5 363,217 385,621
370,242 399,667

CURRENT ASSETS
Stocks 759,132 582,786
Debtors 6 551,205 319,571
Cash at bank and in hand 52,090 142,965
1,362,427 1,045,322
CREDITORS
Amounts falling due within one year 7 854,432 449,661
NET CURRENT ASSETS 507,995 595,661
TOTAL ASSETS LESS CURRENT
LIABILITIES

878,237

995,328

CREDITORS
Amounts falling due after more than one
year

8

(57,973

)

(82,360

)

PROVISIONS FOR LIABILITIES (35,429 ) (23,055 )
NET ASSETS 784,835 889,913

CAPITAL AND RESERVES
Called up share capital 266,667 266,667
Retained earnings 518,168 623,246
SHAREHOLDERS' FUNDS 784,835 889,913

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

Kingfisher Building Products Limited (Registered number: SC249720)

Balance Sheet - continued
31 August 2023


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 30 May 2024 and were signed by:





G L Grainger - Director


Kingfisher Building Products Limited (Registered number: SC249720)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Kingfisher Building Products Limited is a private company, limited by shares , registered in Scotland. 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
Amortisation of intangible assets - Amortisation is not charged in the year of addition. Thereafter amortisation is provided at a rate of 33 1/3% per annum on cost to write off the cost of the intangible asset off over it's expected useful life.

Tangible fixed assets
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value of each asset over its expected useful economic life as follows:

Improvements to property4%
Plant and machinery10%
Motor vehicles20%
Computer equipment33 1/3%

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

Financial instruments
Kingfisher Building Products Limited operate a recourse factoring arrangement against Invoices due.
Amounts advanced to Kingfisher Building Products Limited are included in Other Creditors until repaid.
Factor charges in respect of interest and administration fees are expensed to the Profit and Loss account as incurred.

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.


Kingfisher Building Products Limited (Registered number: SC249720)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 17 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 September 2022
and 31 August 2023 272,675
AMORTISATION
At 1 September 2022 258,629
Charge for year 7,021
At 31 August 2023 265,650
NET BOOK VALUE
At 31 August 2023 7,025
At 31 August 2022 14,046

Kingfisher Building Products Limited (Registered number: SC249720)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2022 488,762 418,768 907,530
Additions 17,398 11,574 28,972
At 31 August 2023 506,160 430,342 936,502
DEPRECIATION
At 1 September 2022 241,018 280,891 521,909
Charge for year 25,753 25,623 51,376
At 31 August 2023 266,771 306,514 573,285
NET BOOK VALUE
At 31 August 2023 239,389 123,828 363,217
At 31 August 2022 247,744 137,877 385,621

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 533,592 306,195
Other debtors 17,613 13,376
551,205 319,571

Trade debtor amounts subject to factoring arrangements are as follows:
31.8.2331.8.22
£ £
Amounts due to factors included in trade debtors 342,22313,549


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 69,003 54,536
Hire purchase contracts 8,438 16,156
Trade creditors 333,629 251,908
Taxation and social security 48,629 32,111
Other creditors 394,733 94,950
854,432 449,661

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans 44,649 79,536
Hire purchase contracts 13,324 2,824
57,973 82,360

Kingfisher Building Products Limited (Registered number: SC249720)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Bank loans 63,943 98,830
Factors advances 342,223 -
406,166 98,830

Bank loans are secured by bond and floating charge over the assets of the company.

Factors advances are secured over trade debtors.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Mr G Grainger
Directors loan
31.8.2331.8.22
£ £
At 1 September 20228,5001,361
The maximum amount due to Mr Grainger in the year under review was16,0148,500
At 31 August 202316,0148,500

Rent charges
The company rents factory space from from Mr G Grainger. Rents charged in the year under review are as follows:
31.8.2331.8.22
£ £
Rental charges103,900103,900

11. RELATED PARTY DISCLOSURES

Kingfisher Connemaras LLP, a limited liability partnership of which G Grainger is a member,
provided management services to Kingfisher Building Products Limited.
The transactions were as follows:31.8.23
£
Amount due to Kingfisher Building Products Limited at 1 September 2022Nil
Provision of services to Kingfisher Building Products Limited143,598
Payments by Kingfisher Building Products Limited(143,598)
Amount due to Kingfisher Building Products Limited at 31 August 2023Nil


12. ULTIMATE CONTROLLING PARTY

The controlling party is G L Grainger.