K.D.G. Workwear Limited 04630104 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is the sale of workwear and industrial supplies Digita Accounts Production Advanced 6.30.9574.0 true 04630104 2023-02-01 2024-01-31 04630104 2024-01-31 04630104 bus:OrdinaryShareClass1 2024-01-31 04630104 core:RetainedEarningsAccumulatedLosses 2024-01-31 04630104 core:ShareCapital 2024-01-31 04630104 core:CurrentFinancialInstruments 2024-01-31 04630104 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 04630104 core:Non-currentFinancialInstruments 2024-01-31 04630104 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 04630104 core:FurnitureFittingsToolsEquipment 2024-01-31 04630104 core:MotorVehicles 2024-01-31 04630104 bus:SmallEntities 2023-02-01 2024-01-31 04630104 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 04630104 bus:FullAccounts 2023-02-01 2024-01-31 04630104 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 04630104 bus:RegisteredOffice 2023-02-01 2024-01-31 04630104 bus:Director5 2023-02-01 2024-01-31 04630104 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 04630104 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 04630104 core:FurnitureFittings 2023-02-01 2024-01-31 04630104 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 04630104 core:MotorVehicles 2023-02-01 2024-01-31 04630104 countries:England 2023-02-01 2024-01-31 04630104 2023-01-31 04630104 core:FurnitureFittingsToolsEquipment 2023-01-31 04630104 core:MotorVehicles 2023-01-31 04630104 2022-02-01 2023-01-31 04630104 2023-01-31 04630104 bus:OrdinaryShareClass1 2023-01-31 04630104 core:RetainedEarningsAccumulatedLosses 2023-01-31 04630104 core:ShareCapital 2023-01-31 04630104 core:CurrentFinancialInstruments 2023-01-31 04630104 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 04630104 core:Non-currentFinancialInstruments 2023-01-31 04630104 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 04630104 core:FurnitureFittingsToolsEquipment 2023-01-31 04630104 core:MotorVehicles 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04630104

K.D.G. Workwear Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 January 2024

 

K.D.G. Workwear Limited

(Registration number: 04630104)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

29,836

39,405

Current assets

 

Stocks

28,050

30,449

Debtors

5

185,968

262,955

Cash at bank and in hand

 

572,214

569,126

 

786,232

862,530

Creditors: Amounts falling due within one year

6

(543,276)

(640,657)

Net current assets

 

242,956

221,873

Total assets less current liabilities

 

272,792

261,278

Creditors: Amounts falling due after more than one year

6

(14,711)

(24,168)

Provisions for liabilities

(94)

(1,726)

Net assets

 

257,987

235,384

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

257,887

235,284

Shareholders' funds

 

257,987

235,384

 

K.D.G. Workwear Limited

(Registration number: 04630104)
Balance Sheet as at 31 January 2024

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 October 2024 and signed on its behalf by:
 


Mr K D Gearing
Director

   
 

K.D.G. Workwear Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
50-54 Oswald Road
Scunthorpe
North Lincolnshire
DN15 7PQ

Registered number: 04630104

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Government grants

Grant income relating to revenue is recognised on an accruals basis. Income is recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. A grant that becomes receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support with no future relared costs, is recognised as income in the period in which it becomes receivable.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

K.D.G. Workwear Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

20% per annum on written down value

Motor vehicles

25% per annum on written down value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business.

Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

K.D.G. Workwear Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 6 (2023 - 6).

 

K.D.G. Workwear Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2023

42,319

47,495

89,814

At 31 January 2024

42,319

47,495

89,814

Depreciation

At 1 February 2023

36,669

13,740

50,409

Charge for the year

1,130

8,439

9,569

At 31 January 2024

37,799

22,179

59,978

Carrying amount

At 31 January 2024

4,520

25,316

29,836

At 31 January 2023

5,650

33,755

39,405

5

Debtors

2024
£

2023
£

Trade debtors

179,670

256,285

Other debtors

6,298

6,670

Total current trade and other debtors

185,968

262,955

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

10,148

10,648

Trade payables

 

374,665

414,636

Social security and other taxes

 

126,478

115,315

Other payables

 

31,985

100,058

 

543,276

640,657

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

14,711

24,168

 

K.D.G. Workwear Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

7

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

10,148

10,648

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

14,711

24,168

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100