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Registered number: 02796295
Kens Motor Company Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02796295
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 256,240 263,192
256,240 263,192
CURRENT ASSETS
Stocks 5 1,000 2,000
Debtors 6 3,085 3,870
Cash at bank and in hand 60,602 33,501
64,687 39,371
Creditors: Amounts Falling Due Within One Year 7 (36,482 ) (23,880 )
NET CURRENT ASSETS (LIABILITIES) 28,205 15,491
TOTAL ASSETS LESS CURRENT LIABILITIES 284,445 278,683
Creditors: Amounts Falling Due After More Than One Year 8 (5,029 ) (7,017 )
NET ASSETS 279,416 271,666
CAPITAL AND RESERVES
Called up share capital 10 200 200
Profit and Loss Account 279,216 271,466
SHAREHOLDERS' FUNDS 279,416 271,666
Page 1
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Kenneth Leverton
Director
26 September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Kens Motor Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02796295 . The registered office is 2 The Paddock, Attenborough, Nottingham, NG9 6AR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No depreciation
Plant & Machinery 15% on cost
Motor Vehicles 25% on cost
Fixtures & Fittings 20% on cost
Computer Equipment 33% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 4)
6 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2023 250,000 82,575 78,178 -
Additions - - - 450
As at 31 March 2024 250,000 82,575 78,178 450
Depreciation
As at 1 April 2023 - 74,654 72,907 -
Provided during the period - 2,147 5,271 42
As at 31 March 2024 - 76,801 78,178 42
Net Book Value
As at 31 March 2024 250,000 5,774 - 408
As at 1 April 2023 250,000 7,921 5,271 -
Computer Equipment Total
£ £
Cost
As at 1 April 2023 - 410,753
Additions 208 658
As at 31 March 2024 208 411,411
Depreciation
As at 1 April 2023 - 147,561
Provided during the period 150 7,610
As at 31 March 2024 150 155,171
Net Book Value
As at 31 March 2024 58 256,240
As at 1 April 2023 - 263,192
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5. Stocks
2024 2023
£ £
Stock 1,000 2,000
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 3,085 3,870
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 9,617 8,161
Corporation tax 6,435 8,566
Other taxes and social security 17,840 4,653
Other creditors (2) 90 -
Accruals and deferred income 2,500 2,500
36,482 23,880
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 4,479 6,467
Other creditors 550 550
5,029 7,017
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
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