REGISTERED NUMBER: |
S & K LYMINGTON LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
28 FEBRUARY 2023 TO 29 FEBRUARY 2024 |
REGISTERED NUMBER: |
S & K LYMINGTON LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
28 FEBRUARY 2023 TO 29 FEBRUARY 2024 |
S & K LYMINGTON LIMITED (REGISTERED NUMBER: 09986375) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 28 FEBRUARY 2023 TO 29 FEBRUARY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
S & K LYMINGTON LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 28 FEBRUARY 2023 TO 29 FEBRUARY 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
S & K LYMINGTON LIMITED (REGISTERED NUMBER: 09986375) |
BALANCE SHEET |
29 FEBRUARY 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 6 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
S & K LYMINGTON LIMITED (REGISTERED NUMBER: 09986375) |
BALANCE SHEET - continued |
29 FEBRUARY 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
S & K LYMINGTON LIMITED (REGISTERED NUMBER: 09986375) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 28 FEBRUARY 2023 TO 29 FEBRUARY 2024 |
1. | STATUTORY INFORMATION |
S & K Lymington Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Financial assets |
The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. |
Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
Financial liabilities |
Basic financial liabilities which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. |
Equity instruments |
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividend's payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2023 - NIL). |
S & K LYMINGTON LIMITED (REGISTERED NUMBER: 09986375) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 28 FEBRUARY 2023 TO 29 FEBRUARY 2024 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
During the year, advances totalling £17,131 (2023: £18,215) were made by the company to the directors. Repayments of £17,500 (2023: £16,345) were made by the directors in the year. The balance owed by the directors to the company at the year-end was £228,857 (2023: £229,226). Interest has been charged at HMRC's official rate of interest and the advances are repayable on demand. |
8. | RELATED PARTY DISCLOSURES |
At the year-end the company owed £53,370 (2023: £44,914) to a company under common control. The loan is interest free. |