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Registration number: 11808749

Kudos Homes Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Kudos Homes Limited

Contents
for the Year Ended 29 February 2024

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Kudos Homes Limited

Company Information
for the Year Ended 29 February 2024

Director

C Burfield

Registered office

The Shingles
Prey Heath Road
Woking
Surrey
GU22 0RN

Registered number

11808749 ( England and Wales )

Accountants

Windsor Accountancy Limited
Chartered Certified Accountants
St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

 

Kudos Homes Limited

(Registration number: 11808749)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

601,037

589,087

Debtors

5

2,247

1,850

Cash at bank and in hand

 

4,851

4,416

 

608,135

595,353

Creditors: Amounts falling due within one year

6

(617,991)

(603,193)

Net liabilities

 

(9,856)

(7,840)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(9,857)

(7,841)

Shareholders' deficit

 

(9,856)

(7,840)

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director on 24 July 2024
 

.........................................
C Burfield
Director

 

Kudos Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 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:
The Shingles
Prey Heath Road
Woking
Surrey
GU22 0RN

These financial statements were authorised for issue by the director on 24 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.

Going concern

At the time of approving the financial statements the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable futre. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Kudos Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Stocks and work in progress

2024
£

2023
£

Work in progress

601,037

589,087

5

Debtors

Current

2024
£

2023
£

Other debtors

2,247

1,850

 

2,247

1,850

 

Kudos Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

-

352

Accruals and deferred income

2,100

2,150

Other creditors

615,891

600,691

617,991

603,193

7

Related party transactions

Transactions with the director

2024

At 1 March 2023
£

Repayments by director
£

At 29 February 2024
£

Advances and credits

-

(15,200)

(15,200)

-

-

-

-

(15,200)

(15,200)

 

2023

At 1 March 2022
£

Advances to director
£

Repayments by director
£

At 28 February 2023
£

Advances and credits

-

70,000

(70,000)

-

-

-

-

-

-

70,000

(70,000)

-

 

Other transactions with the director

The balance due to the director at the year end date was free of interest and deemed repayable on demand. 

Summary of transactions with other related parties

At the year end date the company owed £600,691 (2023: £600,691) to C J Burfield Services Limited, a company owned by the director.