2023-02-012024-01-312024-01-31false06791643KEEBUNGA COMPANY 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KEEBUNGA COMPANY LIMITED

Registered Number
06791643
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

KEEBUNGA COMPANY LIMITED
Company Information
for the year from 1 February 2023 to 31 January 2024

Director

WILLIAMS, James Morgan

Registered Address

7 Belmont Terrace
Devoran
Truro
TR3 6PX

Registered Number

06791643 (England and Wales)
KEEBUNGA COMPANY LIMITED
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets36,4506,450
Tangible assets415,29519,119
21,74525,569
Current assets
Stocks52,0002,577
Cash at bank and on hand102102
2,1022,679
Creditors amounts falling due within one year6(92,803)(90,171)
Net current assets (liabilities)(90,701)(87,492)
Total assets less current liabilities(68,956)(61,923)
Creditors amounts falling due after one year7(86,346)(86,261)
Net assets(155,302)(148,184)
Capital and reserves
Called up share capital1,0001,000
Profit and loss account(156,302)(149,184)
Shareholders' funds(155,302)(148,184)
The financial statements were approved and authorised for issue by the Director on 28 October 2024, and are signed on its behalf by:
WILLIAMS, James Morgan
Director
Registered Company No. 06791643
KEEBUNGA COMPANY LIMITED
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities. The company has net liabilities of £155,302 (2023: £148,184). The company may not be able to continue to trade without the continued financial support of the director and The James William Morgan Williams Life Interest Trust 2005. The trustees and the director have indicated that they are willing to financially support the company for the foreseeable future. It is for this reason that the financial statements have been prepared on a going concern basis.
Turnover policy
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery20
Fixtures and fittings20
Office Equipment20
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year11
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 February 2310,66510,665
At 31 January 2410,66510,665
Amortisation and impairment
At 01 February 234,2154,215
At 31 January 244,2154,215
Net book value
At 31 January 246,4506,450
At 31 January 236,4506,450
4.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 February 2353,6441071,52855,279
At 31 January 2453,6441071,52855,279
Depreciation and impairment
At 01 February 2334,6641001,39636,160
Charge for year3,7961273,824
At 31 January 2438,4601011,42339,984
Net book value
At 31 January 2415,184610515,295
At 31 January 2318,980713219,119
5.Stocks

2024

2023

££
Other stocks2,0002,577
Total2,0002,577
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables3737
Bank borrowings and overdrafts7,2797,621
Other creditors85,00782,033
Accrued liabilities and deferred income480480
Total92,80390,171
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts86,34686,261
Total86,34686,261