Company Registration No. NI655230 (Northern Ireland)
K And F Electrics Ltd
Unaudited accounts
for the year ended 31 March 2024
K And F Electrics Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
68,830
90,133
Cash at bank and in hand
1,090,281
564,877
Creditors: amounts falling due within one year
(507,181)
(281,139)
Net current assets
861,655
571,637
Net assets
930,485
661,770
Called up share capital
4
4
Profit and loss account
930,481
661,766
Shareholders' funds
930,485
661,770
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2024 and were signed on its behalf by
Kevin McCurdy
Director
Company Registration No. NI655230
K And F Electrics Ltd
Notes to the Accounts
for the year ended 31 March 2024
K And F Electrics Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI655230. The registered office is 31 Altnahinch Road Armoy, Ballymoney, BT53 8YJ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The directors believe that K and F Electrics Ltd has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in preparation of its financial statements.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of electrical 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight line
Motor vehicles
20% Straight line
K And F Electrics Ltd
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2023
14,872
170,197
185,069
Disposals
-
(12,500)
(12,500)
At 31 March 2024
14,872
157,697
172,569
At 1 April 2023
12,265
82,671
94,936
Charge for the year
521
17,505
18,026
On disposals
-
(9,223)
(9,223)
At 31 March 2024
12,786
90,953
103,739
At 31 March 2024
2,086
66,744
68,830
At 31 March 2023
2,607
87,526
90,133
Amounts falling due within one year
Trade debtors
169,539
35,802
Accrued income and prepayments
2,986
-
Other debtors
71,485
219,101
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
283,231
277,617
Taxes and social security
166,620
-
Loans from directors
52,199
3,522
Allotted, called up and fully paid:
4 Ordinary shares of £1 each
4
4
8
Average number of employees
During the year the average number of employees was 9 (2023: 9).