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COMPANY REGISTRATION NUMBER: 1493202
Kitto Joinery Limited
Filleted Unaudited Financial Statements
30 June 2024
Kitto Joinery Limited
Balance Sheet
30 June 2024
2024
2023
Note
£
£
Current assets
Stocks
9,508
13,925
Debtors
6
273,817
217,169
Cash at bank and in hand
10,000
10,000
---------
---------
293,325
241,094
Creditors: amounts falling due within one year
7
327,562
236,094
---------
---------
Net current (liabilities)/assets
( 34,237)
5,000
--------
-------
Total assets less current liabilities
( 34,237)
5,000
--------
-------
Net (liabilities)/assets
( 34,237)
5,000
--------
-------
Capital and reserves
Called up share capital
8
5,000
5,000
Profit and loss account
( 39,237)
--------
-------
Shareholder (deficit)/funds
( 34,237)
5,000
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 1 October 2024 , and are signed on behalf of the board by:
B.G.T. Rowe
Director
Company registration number: 1493202
Kitto Joinery Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kitto House, Station Road, Montpelier, Bristol, BS6 5EE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The director has prepared the accounts on the going concern basis as he considers that continuing orders and activity since the balance sheet date combined with support from other group companies will be sufficient to maintain the going concern of the company for the period of at least twelve months from the date of signing these financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover represents the sales value of goods sold and services provided stated net of value added tax during the year.
Stocks
Stocks are stated at the lower of cost and net realisable value. Cost is based on bringing each product to its present location and condition as follows:- Materials - purchase cost on a first-in first-out basis. Finished goods - cost of direct materials and labour plus attributable overheads based on normal level of activity. Net realisable value is the estimated selling price less further costs to be incurred to completion and disposal.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
The company operates a defined contributions scheme and the charge against income is in respect of contributions due in the accounting period.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 5 ).
5. Staff costs
Directors' remuneration
Directors' remuneration has been borne by the parent company in the current and previous financial years.
6. Debtors
2024
2023
£
£
Trade debtors
2,973
5,975
Amounts owed by group undertakings and undertakings in which the company has a participating interest
270,280
210,510
Other debtors
564
684
---------
---------
273,817
217,169
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
10,390
10,098
Amounts owed to group undertakings and undertakings in which the company has a participating interest
309,062
210,922
Social security and other taxes
3,366
12,044
Other creditors
4,744
3,030
---------
---------
327,562
236,094
---------
---------
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
5,000
5,000
5,000
5,000
-------
-------
-------
-------
The ordinary shares carry full voting rights at general meetings of the company. Dividends will fluctuate depending on results.
9. Contingencies
The Company has guaranteed the bank borrowings of its fellow group companies. At 30 June 2023 these borrowings amounted to £Nil (2022: £Nil). The liability under this guarantee is secured by an unlimited debenture over the company's assets.
10. Controlling party
The parent company (and ultimate holding company) is Kitto Group plc. Kitto Group plc is controlled by B.G.T. Rowe , a director.