Kwikframes Limited Filleted Accounts Cover
Kwikframes Limited
Company No. 04586643
Information for Filing with The Registrar
31 December 2023
Kwikframes Limited Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 December 2023.
Principal activities
The principal activity of the company during the year under review was Manufacture of other plastic products.
Directors
The Directors who served at any time during the year were as follows:
P. Martin
S. Martin
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
S. Martin
Director
06 June 2024
Kwikframes Limited Balance Sheet Registrar
at
31 December 2023
Company No.
04586643
Notes
2023
2022
£
£
Fixed assets
Tangible assets
4
111,31091,755
111,31091,755
Current assets
Stocks
5
27,61039,905
Debtors
6
125,507143,788
Cash at bank and in hand
574,138507,691
727,255691,384
Creditors: Amount falling due within one year
7
(138,932)
(124,089)
Net current assets
588,323567,295
Total assets less current liabilities
699,633659,050
Net assets
699,633659,050
Capital and reserves
Called up share capital
100100
Capital redemption reserve
9
5050
Profit and loss account
9
699,483658,900
Total equity
699,633659,050
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 06 June 2024 and signed on its behalf by:
S. Martin
Director
06 June 2024
Kwikframes Limited Notes to the Accounts Registrar
for the year ended 31 December 2023
1
General information
Kwikframes Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 04586643
Its registered office is:
Units C&D 330-338 Wincolmlee
Hull
HU2 0QE
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
1214
4
Tangible fixed assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost or revaluation
At 1 January 2023
201,83684,740286,576
Additions
3,70134,69538,396
Disposals
-
(20,254)
(20,254)
At 31 December 2023
205,53799,181304,718
Depreciation
At 1 January 2023
146,08248,739194,821
Charge for the year
7,12417,97725,101
Disposals
-
(26,514)
(26,514)
At 31 December 2023
153,20640,202193,408
Net book values
At 31 December 2023
52,33158,979111,310
At 31 December 2022
55,754
36,001
91,755
5
Stocks
2023
2022
£
£
Finished goods
27,61039,905
27,61039,905
6
Debtors
2023
2022
£
£
Trade debtors
121,232136,277
Prepayments and accrued income
4,2757,511
125,507143,788
7
Creditors:
amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
109252
Trade creditors
72,91657,155
Taxes and social security
65,407
66,282
Accruals and deferred income
500400
138,932124,089
8
Share Capital
100 Ordinary Shares
9
Reserves
Capital redemption reserve
Total other reserves
£
£
At 1 January 2022
50
50
At 31 December 2022 and 1 January 2023
50
50
At 31 December 2023
5050
Capital redemption reserve - records the nominal value of shares repurchased by the company.
Profit and loss account - includes all current and prior period retained profits and losses.
10
Dividends
2023
2022
£
£
Dividends for the period:
Dividends paid in the period
72,000
72,000
72,000
72,000
Dividends by type:
Equity dividends
72,00072,000
72,000
72,000
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