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REGISTERED NUMBER: 01241983 (England and Wales)



















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: K C White
Mrs C M Mason
Mrs M M White
A Mason





SECRETARY: Mrs C M Mason





REGISTERED OFFICE: 162-164 High Street
Rayleigh
Essex
SS6 7BS





REGISTERED NUMBER: 01241983 (England and Wales)





ACCOUNTANTS: ESW Chartered 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 1,815,044 2,523,600

CURRENT ASSETS
Stocks 24,259 13,641
Debtors 5 9,722 14,250
Investments 6 281,143 417,109
Cash at bank and in hand 36,403 60,798
351,527 505,798
CREDITORS
Amounts falling due within one year 7 (121,218 ) (121,329 )
NET CURRENT ASSETS 230,309 384,469
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,045,353

2,908,069

CREDITORS
Amounts falling due after more than one
year

8

(120,504

)

(172,945

)

PROVISIONS FOR LIABILITIES (19,391 ) (49,970 )
NET ASSETS 1,905,458 2,685,154

CAPITAL AND RESERVES
Called up share capital 50,200 50,200
Revaluation reserve 10 237,764 937,764
Fair value reserve 10 91,001 137,516
Retained earnings 1,526,493 1,559,674
SHAREHOLDERS' FUNDS 1,905,458 2,685,154

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

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


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 Board of Directors and authorised for issue on 15th April 2024 and were signed on its behalf by:





K C White - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

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 7 (2022 - 18 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1st January 2023 2,500,000 67,975 70,008 15,701 2,653,684
Additions - 380 - - 380
Revaluations (700,000 ) - - - (700,000 )
At 31st December 2023 1,800,000 68,355 70,008 15,701 1,954,064
DEPRECIATION
At 1st January 2023 - 48,472 65,911 15,701 130,084
Charge for year - 7,425 1,511 - 8,936
At 31st December 2023 - 55,897 67,422 15,701 139,020
NET BOOK VALUE
At 31st December 2023 1,800,000 12,458 2,586 - 1,815,044
At 31st December 2022 2,500,000 19,503 4,097 - 2,523,600

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 281 1,191
Other debtors 9,441 13,059
9,722 14,250

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 50,082 50,082
Trade creditors 37,033 22,426
Taxation and social security 20,895 39,289
Other creditors 13,208 9,532
121,218 121,329

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 120,504 172,945

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 170,586 223,027

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 937,764 137,516 1,075,280
Movement in period (700,000 ) - (700,000 )
Fair value reserve movement - (46,515 ) (46,515 )

At 31st December 2023 237,764 91,001 328,765

11. ULTIMATE CONTROLLING PARTY

The controlling party is K C White.