Registered number
09039788
Kinetica Consult Ltd
Filleted Accounts
31 May 2024
Kinetica Consult Ltd
Registered number: 09039788
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 49,731 4,535
Current assets
Debtors 4 10,064 36,899
Cash at bank and in hand 168,541 113,292
178,605 150,191
Creditors: amounts falling due within one year 5 (32,081) (28,483)
Net current assets 146,524 121,708
Total assets less current liabilities 196,255 126,243
Creditors: amounts falling due after more than one year 6 (11,887) (861)
Net assets 184,368 125,382
Capital and reserves
Called up share capital 100 100
Profit and loss account 184,268 125,282
Shareholders' funds 184,368 125,382
The director is 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 director acknowledges her 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.
Hilary Robson
Director
Approved by the board on 25 September 2024
Kinetica Consult Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computers 33% staight line
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 7
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 54,523
Additions 47,115
At 31 May 2024 101,638
Depreciation
At 1 June 2023 49,988
Charge for the year 1,919
At 31 May 2024 51,907
Net book value
At 31 May 2024 49,731
At 31 May 2023 4,535
4 Debtors 2024 2023
£ £
Trade debtors 10,064 36,899
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 833 28,483
Taxation and social security costs 29,019 -
Other creditors 2,229 -
32,081 28,483
6 Creditors: amounts falling due after one year 2024 2023
£ £
Deferred tax 11,299 861
Other creditors 588 -
11,887 861
7 Other information
Kinetica Consult Ltd is a private company limited by shares and incorporated in England. Its registered office is:
26 Pipkin Drive
Buntingford
England
SG9 9FU
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