Registered number
04830779
Kane Richardson Engineering Services Ltd
Filleted Accounts
31 March 2024
Kane Richardson Engineering Services Ltd
Registered number: 04830779
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 12,472 15,964
Current assets
Stocks 550 850
Debtors 4 11,298 23,387
Cash at bank and in hand 2,634 (2,378)
14,482 21,859
Creditors: amounts falling due within one year 5 (18,925) (22,860)
Net current liabilities (4,443) (1,001)
Total assets less current liabilities 8,029 14,963
Creditors: amounts falling due after more than one year 6 (5,513) (10,211)
Net assets 2,516 4,752
Capital and reserves
Called up share capital 1 1
Profit and loss account 2,515 4,751
Shareholder's funds 2,516 4,752
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 member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Kane Richardson
Director
Approved by the board on 18 September 2024
Kane Richardson Engineering Services Ltd
Notes to the Accounts
for the year ended 31 March 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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 68,669 1,250 69,919
Additions 499 - 499
At 31 March 2024 69,168 1,250 70,418
Depreciation
At 1 April 2023 53,305 650 53,955
Charge for the year 3,841 150 3,991
At 31 March 2024 57,146 800 57,946
Net book value
At 31 March 2024 12,022 450 12,472
At 31 March 2023 15,364 600 15,964
4 Debtors 2024 2023
£ £
Trade debtors 11,298 22,937
Other debtors - 450
11,298 23,387
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,700 4,700
Trade creditors 8,989 5,107
Taxation and social security costs 12,191 12,193
Other creditors (6,955) 860
18,925 22,860
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 5,513 10,211
7 Other information
Kane Richardson Engineering Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
86 Main Street
Wilsford
Grantham
Lincs
NG32 3NR
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