REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
FOR |
KENBRO DISCOUNT CARPET WAREHOUSES |
LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
FOR |
KENBRO DISCOUNT CARPET WAREHOUSES |
LIMITED |
KENBRO DISCOUNT CARPET WAREHOUSES |
LIMITED (REGISTERED NUMBER: 01241983) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
KENBRO DISCOUNT CARPET WAREHOUSES |
LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
162-164 High Street |
Rayleigh |
Essex |
SS6 7BS |
KENBRO DISCOUNT CARPET WAREHOUSES |
LIMITED (REGISTERED NUMBER: 01241983) |
BALANCE SHEET |
31ST DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Investments | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 10 |
Fair value reserve | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
KENBRO DISCOUNT CARPET WAREHOUSES |
LIMITED (REGISTERED NUMBER: 01241983) |
BALANCE SHEET - continued |
31ST DECEMBER 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
KENBRO DISCOUNT CARPET WAREHOUSES |
LIMITED (REGISTERED NUMBER: 01241983) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Kenbro Discount Carpet Warehouses Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
The company has taken advantage of the transitional exemption provisions in FRS 102 35.10(c) and (d) to include fair value or previous revaluations as deemed cost. |
The directors believe that the policy of not providing depreciation on freehold property is necessary in order for the accounts to give a true and fair view, since the current value of freehold property and changes to the current value are of prime importance rather than the calculation of systematic annual depreciation. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
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. |
KENBRO DISCOUNT CARPET WAREHOUSES |
LIMITED (REGISTERED NUMBER: 01241983) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Transactions denominated in foreign currencies are translated into sterling and recorded at the rate of exchange ruling at the date of the transaction. |
Balances at the year-end denominated in a foreign currency are translated into sterling at the rate of exchange ruling at the balance sheet date. |
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 scheme for the benefit of its employees. Contributions payable are recognised in profit and loss account when due. |
Current asset investments |
Current asset investments are included at fair value. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Computer |
property | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1st January 2023 |
Additions |
Revaluations | ( |
) | ( |
) |
At 31st December 2023 |
DEPRECIATION |
At 1st January 2023 |
Charge for year |
At 31st December 2023 |
NET BOOK VALUE |
At 31st December 2023 |
At 31st December 2022 |
KENBRO DISCOUNT CARPET WAREHOUSES |
LIMITED (REGISTERED NUMBER: 01241983) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 31st December 2023 is represented by: |
Fixtures |
Freehold | Plant and | and | Computer |
property | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
Valuation in 2009 | 937,765 | - | - | - | 937,765 |
Valuation in 2023 | (700,000 | ) | - | - | - | (700,000 | ) |
Cost | 1,562,235 | 68,355 | 70,008 | 15,701 | 1,716,299 |
1,800,000 | 68,355 | 70,008 | 15,701 | 1,954,064 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CURRENT ASSET INVESTMENTS |
2023 | 2022 |
£ | £ |
Listed investments | 281,143 | 417,109 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
The bank loan is secured on the freehold property of the company. |
KENBRO DISCOUNT CARPET WAREHOUSES |
LIMITED (REGISTERED NUMBER: 01241983) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
10. | RESERVES |
Fair |
Revaluation | value |
reserve | reserve | Totals |
£ | £ | £ |
At 1st January 2023 |
Movement in period | (700,000 | ) | - | (700,000 | ) |
Fair value reserve movement | - | (46,515 | ) | (46,515 | ) |
At 31st December 2023 |
11. | ULTIMATE CONTROLLING PARTY |
The controlling party is K C White. |