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Registered Number: 13139269
England and Wales

 

 

 

KDN ENTERPRISES LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Directors W Whitbread
J Whitbread
Registered Number 13139269
Registered Office 7 Whernside Way
Ingleton
Carnforth
North Yorkshire
LA6 3FJ
Trading Address Unit 5 Barrel Sykes
Langcliffe Road
Settle
BD24 9LP
Accountants Kazbor Services Limited
102 Fairhope Avenue
Bare
Morecambe
LA4 6LA
Bankers TIDE
5th Floor
1 Apphold Street
London
EC2A 2UT

1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 January 2024.
Principal activities
The companys principal activity during the year was the making and sale of signs and banners.
Directors
The directors who served the company throughout the year were as follows:
W Whitbread
J Whitbread


The report of the directors has 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.

This report was approved by the board and signed on its behalf by:


----------------------------------
W Whitbread
Director

Date approved: 22 October 2024
2
As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 January 2024 and you consider that the company is exempt from an audit under the Companies Act 2006.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.



....................................................

Kazbor Services Limited

102 Fairhope Avenue
Bare
Morecambe
LA4 6LA
22 October 2024
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 9,000    27,400 
9,000    27,400 
Current assets      
Stocks 5 500    2,000 
Debtors 6 370    1,158 
Cash at bank and in hand 1,574    1,209 
2,444    4,367 
Creditors: amount falling due within one year 7 (63,106)   (58,332)
Net current assets (60,662)   (53,965)
 
Total assets less current liabilities (51,662)   (26,565)
Creditors: amount falling due after more than one year 8 (3,781)   (7,270)
Net assets (55,443)   (33,835)
 

Capital and reserves
     
Called up share capital 9 140    140 
Profit and loss account (55,583)   (33,975)
Shareholders' funds (55,443)   (33,835)
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 22 October 2024 and were signed on its behalf by:


-------------------------------
W Whitbread
Director
4
General Information
KDN Enterprises Ltd is a private company, limited by shares, registered in England and Wales, registration number 13139269, registration address 7 Whernside Way, Ingleton, Carnforth, North Yorkshire, LA6 3FJ. The trading address of the company is Unit 5 Barrel Sykes, Langcliffe Road, Settle, BD24 9LP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The directors have the opinion that the COVID pandemic did not have a material impact in the development of the company which was incorporated during the pandemic. The success of the company was solely dependent on the financial support of the directors via a related party loan, and they have now decided to withdraw that support. The company is not generating sufficient turnover to cover its ordinary costs and therefore the directors have the opinion that the company no longer has adequate resources to continue trading.  The directors have taken the decision to close the company during the 2024 / 2025 financial year and therefore consider that the going concern basis of accounting in preparing the financial statements is not appropriate. The directors have depreciated the fixed assets to their recoverable values and all other assets and liabilities are stated at their recoverable or payable values.
Turnover
Turnover comprises of the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Turnover is recognised in the accounts when the company becomes entitled to a consideration for the services performed or for the sale of goods at which point an invoice is issued. An invoice for services is issued following the completion of the service performed and an invoice for the sale of goods is issued when the risks and rewards of ownership of those goods have passed to the buyer. A provision is made at the reporting date for services that have commenced but have not been completed which is based on the percentage of work completed at the reporting date.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Current taxation
The current tax position is based on the taxable profit or loss for the period. The taxable profit or loss may differ from that reported in the financial statements because adjustments are made for items that are treated differently for taxation compared to their treatment for accounting purposes. The company's liability or refund for the current tax year is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and their treatment for accounting purposes. The deferred tax balance has not been discounted.
Dividends
Dividends that are deemed to have been approved and paid during the period are included in these financial statements. Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 10 years Straight Line
Motor Vehicles 5 years Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks and work in progress
Stocks have been valued at the lower of cost and expected selling price less costs to sell. Costs to sell include the relevant proportion of overheads according to the stage of completion.
Work in progress is valued at the expected selling price and is dependent on the percentage of work completed at the period end and after making allowances for unexpected costs for completion.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.
Basic financial instruments included in these financial statements are valued at the transaction price applicable at the time of the transaction. 
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

The average number of persons given below includes directors:

Average number of employees during the year was 2 (2023 : 2).
3.

Financial Commitments, Guarantees and Contingencies

The company is committed to making aggregate payments of £4,330 (2023; £4,766) in respect of non-cancellable operating lease agreements that were in place at the period ended 31 January 2024.

4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 February 2023 20,848    17,870    38,718 
Additions    
Disposals    
At 31 January 2024 20,848    17,870    38,718 
Depreciation
At 01 February 2023 4,170    7,148    11,318 
Charge for year 14,178    4,222    18,400 
On disposals    
At 31 January 2024 18,348    11,370    29,718 
Net book values
Closing balance as at 31 January 2024 2,500    6,500    9,000 
Opening balance as at 01 February 2023 16,678    10,722    27,400 

Going concern basis
The fixed assets have been depreciated to their expected recoverable amounts due to the inappropriateness of the going concern basis.

5.

Stocks

2024
£
  2023
£
Stocks 500    2,000 
500    2,000 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 360    1,080 
Other Debtors 10    78 
370    1,158 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 294    294 
Obligations under HP/Financial Leases 3,489    3,489 
Other Creditors 59,323    54,549 
63,106    58,332 
Hire purchase contracts
Hire purchase contracts are secured on the assets to which they are attributable to. 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Obligations under HP/Financial Leases 3,781    7,270 
3,781    7,270 
Hire purchase contracts
Hire purchase contracts are secured on the assets to which they are attributable to. 

9.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100    100 
20 Letter Class A shares of £1.00 each 20    20 
20 Letter Class B shares of £1.00 each 20    20 
140    140 

10.

Events after Balance sheet date

Financial support withdrawn

The support from the associated company loan that allowed the company to continue trading was withdrawn during the 2024 / 2025 financial year. The directors have the opinion that the company will not be able to continue trading without that support and have decided to cease trading and arrange for the company to be dissolved. 

It is probable that there will be insufficient funds to repay the associated company loan.
11.

Loan from related party

The company has received a loan from an associated company, namely Kidz Day Nursery Ltd, which is a company under common control. The loan is included within other creditors falling due within one year and has been given on an interest free basis and with no repayment plan.

As reported in the note to the accounts concerning events after the balance sheet date, it is probable that there will be insufficient funds to repay this loan if the company is dissolved.

Particulars   2024
£
  2023
£
Kidz Day Nursery Ltd 58,823  54,323 
58,823  54,323 

5