Kong Climbing Ltd 13166547 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is manufacture climbing gear. Digita Accounts Production Advanced 6.30.9574.0 true true 13166547 2023-04-01 2024-03-31 13166547 2024-03-31 13166547 core:RetainedEarningsAccumulatedLosses 2024-03-31 13166547 core:ShareCapital 2024-03-31 13166547 core:CurrentFinancialInstruments 2024-03-31 13166547 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 13166547 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 13166547 core:FurnitureFittingsToolsEquipment 2024-03-31 13166547 core:MotorVehicles 2024-03-31 13166547 core:OtherPropertyPlantEquipment 2024-03-31 13166547 bus:SmallEntities 2023-04-01 2024-03-31 13166547 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 13166547 bus:FilletedAccounts 2023-04-01 2024-03-31 13166547 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13166547 bus:RegisteredOffice 2023-04-01 2024-03-31 13166547 bus:Director1 2023-04-01 2024-03-31 13166547 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13166547 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 13166547 core:MotorVehicles 2023-04-01 2024-03-31 13166547 core:OfficeEquipment 2023-04-01 2024-03-31 13166547 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 13166547 core:PlantMachinery 2023-04-01 2024-03-31 13166547 core:Vehicles 2023-04-01 2024-03-31 13166547 countries:EnglandWales 2023-04-01 2024-03-31 13166547 2023-03-31 13166547 core:FurnitureFittingsToolsEquipment 2023-03-31 13166547 core:MotorVehicles 2023-03-31 13166547 core:OtherPropertyPlantEquipment 2023-03-31 13166547 2022-04-01 2023-03-31 13166547 2023-03-31 13166547 core:RetainedEarningsAccumulatedLosses 2023-03-31 13166547 core:ShareCapital 2023-03-31 13166547 core:CurrentFinancialInstruments 2023-03-31 13166547 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13166547 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 13166547 core:FurnitureFittingsToolsEquipment 2023-03-31 13166547 core:MotorVehicles 2023-03-31 13166547 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure

Company Registration number: 13166547

Kong Climbing Ltd

Annual Report and Unaudited
Financial Statements


for the Year Ended 31 March 2024

 

Kong Climbing Ltd

Contents

Pages

Balance sheet

1 to 2

Notes to the financial statements

3 to 7

 

Kong Climbing Ltd

Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

96,233

67,638

Current assets

 

Stocks

5

74,178

283,410

Debtors

6

134,485

48,596

Cash at bank and in hand

 

21,314

174,883

 

229,977

506,889

Creditors: Amounts falling due within one year

7

(239,226)

(460,274)

Net current (liabilities)/assets

 

(9,249)

46,615

Total assets less current liabilities

 

86,984

114,253

Creditors: Amounts falling due after more than one year

7

(122,880)

(122,880)

Net liabilities

 

(35,896)

(8,627)

Capital and reserves

 

Called up share capital

500

500

Retained earnings

(36,396)

(9,127)

Shareholders' deficit

 

(35,896)

(8,627)

 

Kong Climbing Ltd

Balance Sheet as at 31 March 2024 (continued)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 July 2024 and signed on its behalf by:
 

.........................................
Mr P J Cornforth
Director

Company registration number: 13166547

 

Kong Climbing Ltd

Notes to the financial statements for the Year Ended 31 March 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:
Threlkeld Quarry
Threlkeld
Keswick
CA12 4TT

These financial statements were authorised for issue by the Board on 23 July 2024.

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. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

 

Kong Climbing Ltd

Notes to the financial statements for the Year Ended 31 March 2024 (continued)

2

ACCOUNTING POLICIES (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% and 20% straight line

Motor vehicles

20% reducing balance

Office equipment

25% straight line

 

Kong Climbing Ltd

Notes to the financial statements for the Year Ended 31 March 2024 (continued)

2

ACCOUNTING POLICIES (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.
 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3

STAFF NUMBERS

The average number of persons employed by the company (including directors) during the year, was 18 (2023 - 16).

 

Kong Climbing Ltd

Notes to the financial statements for the Year Ended 31 March 2024 (continued)

4

TANGIBLE ASSETS

Office equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

2,102

35,788

36,482

74,372

Additions

1,904

12,500

29,778

44,182

At 31 March 2024

4,006

48,288

66,260

118,554

Depreciation

At 1 April 2023

525

5,242

967

6,734

Charge for the year

842

6,109

8,636

15,587

At 31 March 2024

1,367

11,351

9,603

22,321

Carrying amount

At 31 March 2024

2,639

36,937

56,657

96,233

At 31 March 2023

1,577

30,546

35,515

67,638

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of freehold land and buildings.
 

5

STOCKS

2024
£

2023
£

Stocks

74,178

283,410

6

DEBTORS

Current

2024
£

2023
£

Trade debtors

53,259

45,147

Prepayments

80,648

2,854

Other debtors

578

595

 

134,485

48,596

 

Kong Climbing Ltd

Notes to the financial statements for the Year Ended 31 March 2024 (continued)

7

CREDITORS

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

131,160

81,600

Taxation and social security

37,152

69,789

Accruals and deferred income

61,073

239,973

Other creditors

9,841

68,912

239,226

460,274

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

122,880

122,880