Registered number
10681005
K AND M TRADING LTD
Unaudited Filleted Accounts
31 March 2024
K AND M TRADING LTD
Registered number: 10681005
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 16,330 16,330
Current assets
Cash at bank and in hand 12,961 14,036
Creditors: amounts falling due within one year 4 (28,846) (31,234)
Net current liabilities (15,885) (17,198)
Net assets/(liabilities) 445 (868)
Capital and reserves
Called up share capital 100 100
Profit and loss account 345 (968)
Shareholders' funds 445 (868)
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.
M Owen
Director
Approved by the board on 9 October 2024
K AND M TRADING LTD
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. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Improvements to Property
£
Cost
At 1 April 2023 16,330
Additions -
At 31 March 2024 16,330
Depreciation
At 31 March 2024 -
Net book value
At 31 March 2024 16,330
At 31 March 2023 16,330
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - -
Taxation and social security costs 1,944 634
Other creditors 26,902 30,600
28,846 31,234
5 Other information
K AND M TRADING LTD is a private company limited by shares and incorporated in England. Its registered office is:
300 St Marys Road
Garston
Liverpool
Merseyside
L19 0NQ
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