KIT MCN LTD 14613188 false 2023-01-24 2024-01-31 2024-01-31 The principal activity of the company is 46190 - Agents involved in the sale of a variety of goods/47910 - Retail sale via mail order houses or via Internet Digita Accounts Production Advanced 6.30.9574.0 true 14613188 2023-01-24 2024-01-31 14613188 2024-01-31 14613188 core:RetainedEarningsAccumulatedLosses 2024-01-31 14613188 core:ShareCapital 2024-01-31 14613188 core:CurrentFinancialInstruments 2024-01-31 14613188 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 14613188 bus:SmallEntities 2023-01-24 2024-01-31 14613188 bus:AuditExemptWithAccountantsReport 2023-01-24 2024-01-31 14613188 bus:FullAccounts 2023-01-24 2024-01-31 14613188 bus:SmallCompaniesRegimeForAccounts 2023-01-24 2024-01-31 14613188 bus:RegisteredOffice 2023-01-24 2024-01-31 14613188 bus:Director1 2023-01-24 2024-01-31 14613188 bus:PrivateLimitedCompanyLtd 2023-01-24 2024-01-31 14613188 countries:EnglandWales 2023-01-24 2024-01-31 iso4217:GBP xbrli:pure

Registration number: 14613188

KIT MCN LTD

Annual Report and Unaudited Financial Statements- Companies house filing

for the Period from 24 January 2023 to 31 January 2024

 

KIT MCN LTD

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 3

 

KIT MCN LTD

(Registration number: 14613188)
Statement of Financial Position as at 31 January 2024

Note

2024
£

Current assets

 

Stocks

4

6,400

Debtors

5

276

Cash at bank and in hand

 

1,984

 

8,660

Creditors: Amounts falling due within one year

6

(10,810)

Net liabilities

 

(2,150)

Capital and reserves

 

Called up share capital

1

Profit and loss account

(2,151)

Shareholders' deficit

 

(2,150)

For the financial period ending 31 January 2024 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 accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the director on 30 August 2024
 

.........................................
C N E McNiel
Director

 

KIT MCN LTD

Notes to the Unaudited Financial Statements for the Period from 24 January 2023 to 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: 17 College Ride, Camberley, Surrey, GU15 4JP.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

 

KIT MCN LTD

Notes to the Unaudited Financial Statements for the Period from 24 January 2023 to 31 January 2024

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0.

4

Stocks

2024
£

Other inventories

6,400

5

Debtors

2024
£

Other debtors

276

276

6

Creditors

Creditors: amounts falling due within one year

2024
£

Taxation and social security

165

Accruals and deferred income

1,133

Other creditors

9,512

10,810