Registered number
11098529
Derek Kilbride Limited
Filleted Accounts
31 December 2023
Derek Kilbride Limited
Registered number: 11098529
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 9,193 10,355
Current assets
Cash at bank and in hand 163,285 182,425
Creditors: amounts falling due within one year 4 (3,331) (4,979)
Net current assets 159,954 177,446
Total assets less current liabilities 169,147 187,801
Creditors: amounts falling due after more than one year 5 (12,545) (16,701)
Net assets 156,602 171,100
Capital and reserves
Called up share capital 1 1
Profit and loss account 156,601 171,099
Shareholder's funds 156,602 171,100
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr. D. Kilbride
Director
Approved by the board on 1 August 2024
Derek Kilbride Limited
Notes to the Accounts
for the year ended 31 December 2023
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Vehicles 25% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 18,317 7,000 25,317
Additions 587 - 587
At 31 December 2023 18,904 7,000 25,904
Depreciation
At 1 January 2023 9,623 5,339 14,962
Charge for the year 1,334 415 1,749
At 31 December 2023 10,957 5,754 16,711
Net book value
At 31 December 2023 7,947 1,246 9,193
At 31 December 2022 8,694 1,661 10,355
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 1,402 4,017
Other creditors 1,929 962
3,331 4,979
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 12,545 16,701
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr D Kilbride
Directors Loan Account (25) 29,267 (29,252) (10)
(25) 29,267 (29,252) (10)
7 Controlling party
The company is controlled by the directors by virtue of their shareholdings
8 Other information
Derek Kilbride Limited is a private company limited by shares and incorporated in England. Its registered office is:
10 Westerleigh Road
Downend
Bristol
BS16 6AA
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