Company Registration No. 11574713 (England and Wales)
Kin + Ilk The Maltings Ltd
Unaudited accounts
for the year ended 31 December 2023
Kin + Ilk The Maltings Ltd
Unaudited accounts
Contents
Kin + Ilk The Maltings Ltd
Company Information
for the year ended 31 December 2023
Directors
David Davies
Haydn Darke
Company Number
11574713 (England and Wales)
Registered Office
1 Capital Quarter C/O Kin + Ilk Capital
1 Tyndall Street
Cardiff
United Kingdom
CF10 4BZ
Accountants
Cadre Advisory Ltd
Embassy Offices, Stangate House
Stanwell Road
Penarth
CF64 2AA
Kin + Ilk The Maltings Ltd
Statement of financial position
as at 31 December 2023
Cash at bank and in hand
8,093
100
Creditors: amounts falling due within one year
(295,593)
(207,182)
Net current liabilities
(103,289)
(65,585)
Total assets less current liabilities
(102,620)
(62,901)
Creditors: amounts falling due after more than one year
(36,965)
(42,377)
Net liabilities
(139,585)
(105,278)
Called up share capital
2
2
Profit and loss account
(139,587)
(105,280)
Shareholders' funds
(139,585)
(105,278)
For the year ending 31 December 2023 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 directors acknowledge their 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 of Directors and authorised for issue on 25 April 2024 and were signed on its behalf by
David Davies
Director
Company Registration No. 11574713
Kin + Ilk The Maltings Ltd
Notes to the Accounts
for the year ended 31 December 2023
Kin + Ilk The Maltings Ltd is a private company, limited by shares, registered in England and Wales, registration number 11574713. The registered office is 1 Capital Quarter C/O Kin + Ilk Capital , 1 Tyndall Street, Cardiff, United Kingdom, CF10 4BZ.
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Computer equipment
33% Straight Line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company during this uncertain period.
Kin + Ilk The Maltings Ltd
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2023
8,268
3,739
12,007
At 31 December 2023
8,518
3,739
12,257
At 1 January 2023
5,882
3,441
9,323
Charge for the year
2,067
198
2,265
At 31 December 2023
7,949
3,639
11,588
At 31 December 2023
569
100
669
At 31 December 2022
2,386
298
2,684
Amounts falling due within one year
Trade debtors
23,725
109,620
Amounts due from group undertakings etc.
118,129
15,920
Accrued income and prepayments
26,400
-
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
5,756
6,011
Trade creditors
31,043
32,157
Amounts owed to group undertakings and other participating interests
212,121
120,443
Taxes and social security
24,249
7,745
7
Creditors: amounts falling due after more than one year
2023
2022
8
Average number of employees
During the year the average number of employees was 7 (2022: 7).