Registered number
04230707
Kingscoat Limited
Filleted Accounts
31 March 2024
Kingscoat Limited
Registered number: 04230707
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 863,056 929,815
Current assets
Stocks 1 -
Debtors 4 1,379 14,780
Cash at bank and in hand 1,203 385,406
2,583 400,186
Creditors: amounts falling due within one year 6 (48,492) (268,997)
Net current (liabilities)/assets (45,909) 131,189
Total assets less current liabilities 817,147 1,061,004
Creditors: amounts falling due after more than one year 7 (1,088) (3,427)
Net assets 816,059 1,057,577
Capital and reserves
Called up share capital 18 18
Revaluation reserve 8 - 902,228
Profit and loss account 816,041 155,331
Shareholders' funds 816,059 1,057,577
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Mitchell
Director
Approved by the board on 15 September 2024
Kingscoat Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 902,468 115,613 44,171 1,062,252
Additions 94,010 4,660 - 98,670
Disposals - (15,500) (1,250) (16,750)
At 31 March 2024 996,478 104,773 42,921 1,144,172
Depreciation
At 1 April 2023 - 96,085 36,352 132,437
Charge for the year - 318 1,642 1,960
Surplus on revaluation 146,719 - - 146,719
At 31 March 2024 146,719 96,403 37,994 281,116
Net book value
At 31 March 2024 849,759 8,370 4,927 863,056
At 31 March 2023 902,468 19,528 7,819 929,815
4 Debtors 2024 2023
£ £
Trade debtors - 5,487
Other debtors 1,379 9,293
1,379 14,780
5 Investments held as current assets 2024 2023
£ £
Fair value
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Unlisted investments 755,268 -
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 1,345 4,436
Trade creditors 770 9,330
Other taxes and social security costs - 1,685
Other creditors 46,377 253,546
48,492 268,997
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts - 3,427
Other creditors 1,088 -
1,088 3,427
8 Revaluation reserve 2024 2023
£ £
At 1 April 2023 902,228 902,228
Loss on revaluation of land and buildings (902,228) -
At 31 March 2024 - 902,228
9 Other information
Kingscoat Limited is a private company limited by shares and incorporated in England. Its registered office is:
c/o Holmes Accountancy Ltd, Linford Forum, 18 Rockingham Drive, Linford Wood, Milton Keynes, MK14 6LY
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