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REGISTERED NUMBER: 02138992 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

K. WORLOCK HOMES LIMITED

K. WORLOCK HOMES LIMITED (REGISTERED NUMBER: 02138992)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


K. WORLOCK HOMES LIMITED

Company Information
for the year ended 31 December 2023







DIRECTOR: K D Worlock





SECRETARY: N K Worlock





REGISTERED OFFICE: The Old Rectory
The Street
Yatton Keynell
Chippenham
Wiltshire
SN14 7BA





REGISTERED NUMBER: 02138992 (England and Wales)





ACCOUNTANTS: Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
K. Worlock Homes Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of K. Worlock Homes Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of K. Worlock Homes Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of K. Worlock Homes Limited and state those matters that we have agreed to state to the director of K. Worlock Homes Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than K. Worlock Homes Limited and its director for our work or for this report.

It is your duty to ensure that K. Worlock Homes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of K. Worlock Homes Limited. You consider that K. Worlock Homes Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of K. Worlock Homes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL


12 September 2024

K. WORLOCK HOMES LIMITED (REGISTERED NUMBER: 02138992)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,313 15,132

CURRENT ASSETS
Stocks and work in progress 412,685 412,685
Debtors 5 677 1,998
Cash at bank and in hand 378,357 365,491
791,719 780,174
CREDITORS
Amounts falling due within one year 6 31,110 30,755
NET CURRENT ASSETS 760,609 749,419
TOTAL ASSETS LESS CURRENT
LIABILITIES

771,922

764,551

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 771,920 764,549
SHAREHOLDERS' FUNDS 771,922 764,551

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

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

The director acknowledges his 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.

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 director and authorised for issue on 12 September 2024 and were signed by:





K D Worlock - Director


K. WORLOCK HOMES LIMITED (REGISTERED NUMBER: 02138992)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

K. Worlock Homes 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.

Critical accounting estimates and judgements
No significant judgements or key assumptions have had to be made by the directors in preparing these financial statements.

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.
Plant and office equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress 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.

K. WORLOCK HOMES LIMITED (REGISTERED NUMBER: 02138992)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Turnover
Turnover represents net sales of property, excluding value added tax. Turnover is recognised when the sale is finalised.

Rental income is recognised for the rental period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

K. WORLOCK HOMES LIMITED (REGISTERED NUMBER: 02138992)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
office Motor
equipment vehicles Totals
£    £    £   
COST
At 1 January 2023 30,815 7,000 37,815
Disposals (2,015 ) - (2,015 )
At 31 December 2023 28,800 7,000 35,800
DEPRECIATION
At 1 January 2023 18,636 4,047 22,683
Charge for year 3,033 738 3,771
Eliminated on disposal (1,967 ) - (1,967 )
At 31 December 2023 19,702 4,785 24,487
NET BOOK VALUE
At 31 December 2023 9,098 2,215 11,313
At 31 December 2022 12,179 2,953 15,132

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 677 1,998

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 436 -
Other creditors 30,674 30,755
31,110 30,755

7. DEFERRED TAX
£   
Balance at 1 January 2023 (1,605 )
Accelerated capital allowances 1,250
Balance at 31 December 2023 (355 )

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary A £0.01 1 1
100 Ordinary B £0.01 1 1
2 2

Ordinary A and Ordinary B shares rank pari passu and have full voting, dividend and distribution rights.