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Registered number: 13145706
KJN Decorating Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Graver & Co Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13145706
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 496 9,520
496 9,520
CURRENT ASSETS
Stocks 5 2,000 2,000
Debtors 6 89,891 104,947
Cash at bank and in hand 59 58
91,950 107,005
Creditors: Amounts Falling Due Within One Year 7 (36,194 ) (41,062 )
NET CURRENT ASSETS (LIABILITIES) 55,756 65,943
TOTAL ASSETS LESS CURRENT LIABILITIES 56,252 75,463
Creditors: Amounts Falling Due After More Than One Year 8 (16,667 ) (3,194 )
NET ASSETS 39,585 72,269
CAPITAL AND RESERVES
Called up share capital 9 4 4
Profit and Loss Account 39,581 72,265
SHAREHOLDERS' FUNDS 39,585 72,269
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Norman Lark
Director
21st October 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
KJN Decorating Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13145706 . The registered office is 7 Lone Barn Road, Sprowston, Norwich, NR7 8HZ.
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. All income is derived from activities within the UK.
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:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 25% reducing balance
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 2
1 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2023 - 12,300 524 12,824
Additions 112 - 254 366
Disposals - (12,300 ) - (12,300 )
As at 31 January 2024 112 - 778 890
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 February 2023 - 3,075 229 3,304
Provided during the period 28 - 137 165
Disposals - (3,075 ) - (3,075 )
As at 31 January 2024 28 - 366 394
Net Book Value
As at 31 January 2024 84 - 412 496
As at 1 February 2023 - 9,225 295 9,520
5. Stocks
2024 2023
£ £
Materials 2,000 2,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 89,891 88,648
Prepayments and accrued income - 575
89,891 89,223
Due after more than one year
Directors loan account - 15,724
89,891 104,947
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 10,828 7,253
Bank loans and overdrafts 7,608 2,328
Corporation tax 5,558 22,281
Other creditors 12,200 9,200
36,194 41,062
Page 4
Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 1,765 3,194
Directors loan account 14,902 -
16,667 3,194
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
10. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans to directors:
As at 1 February 2023 Amounts advanced Amounts repaid Amounts written off As at 31 January 2024
£ £ £ £ £
Mr Norman Lark 9,523 28,406 52,831 - 14,902
The above loan is unsecured, interest free and repayable on demand.
Dividends paid to directors
2024 2023
£ £
Mr Norman Lark 33,500 15,200
Mr James Riches - 15,200
Page 5