Company registration number 00624825 (England and Wales)
ALBERT KIRK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
ALBERT KIRK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
ALBERT KIRK LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
150,561
150,660
Current assets
Cash at bank and in hand
49,559
42,546
Creditors: amounts falling due within one year
5
(2,694)
(2,893)
Net current assets
46,865
39,653
Net assets
197,426
190,313
Capital and reserves
Called up share capital
500
500
Profit and loss reserves
196,926
189,813
Total equity
197,426
190,313
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 2 September 2024 and are signed on its behalf by:
Mrs J E Kirk
Director
Company registration number 00624825 (England and Wales)
ALBERT KIRK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Albert Kirk Limited is a private company limited by shares incorporated in England and Wales. The registered office is 51 Wrottesley Road, Tettenhall, Wolverhampton, West Midlands, WV6 8SG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Income from property
Turnover from property represents gross rents receivable for the year.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
Not depreciated
Fixtures and fittings
15% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
2
2
ALBERT KIRK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
150,000
20,000
170,000
Depreciation and impairment
At 1 April 2023
19,340
19,340
Depreciation charged in the year
99
99
At 31 March 2024
19,439
19,439
Carrying amount
At 31 March 2024
150,000
561
150,561
At 31 March 2023
150,000
660
150,660
4
Investment property
Land and buildings represents investment property, which is stated at fair value at the year-end as valued by the directors. The valuation was made on an open market value basis. No provision is made for any tax that might be payable if the property were to be sold at its book value, as it is not probable that the property will be sold for the foreseeable future.
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2024
2023
£
£
Cost
90,414
90,414
Accumulated depreciation
-
-
Carrying amount
90,414
90,414
5
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
1,692
1,891
Other creditors
1,002
1,002
2,694
2,893