Registration number:
Kinland (URR Richmond) Limited
(formerly
for the Period from 8 February 2023 to 31 July 2024
Kinland (URR Richmond) Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Kinland (URR Richmond) Limited
(Registration number: 14646837)
Balance Sheet as at 31 July 2024
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31 July 2024 |
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Current assets |
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Stocks |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net liabilities |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial period ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act 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 and the option not to file the profit and loss accounts has been taken.
Approved and authorised by the
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A S Macaulay
Director
Kinland (URR Richmond) Limited
Notes to the Unaudited Financial Statements for the Period from 8 February 2023 to 31 July 2024
General information |
The company is a private company limited by share capital, incorporated in England.
The company was formerly known as Kinland (SR Wandsworth) Limited.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Basis of preparation
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including section 1A of Financial Reporting Standard 102 - 'The Financial Reporting standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102 1A'), and with the Companies Act 2006.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future due to the ongoing support of certain related parties. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historic experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
Specifically, judgements and estimates are required in determining the value of work in progress.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Kinland (URR Richmond) Limited
Notes to the Unaudited Financial Statements for the Period from 8 February 2023 to 31 July 2024
Financial instruments
Classification
Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.
Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.
Recognition and measurement
Impairment
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Stocks
Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs, capitalised interest and an appropriate proportion of fixed and variable overheads.
Trade and other creditors
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Kinland (URR Richmond) Limited
Notes to the Unaudited Financial Statements for the Period from 8 February 2023 to 31 July 2024
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Stocks |
2024 |
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Work in progress |
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Creditors |
Creditors: amounts falling due within one year
Note |
31 July 2024 |
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Due within one year |
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Trade creditors |
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Amounts owed to parent |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
31 July 2024 |
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No. |
£ |
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1 |
During the period the company allotted 1 ordinary £1 share at par value.
Kinland (URR Richmond) Limited
Notes to the Unaudited Financial Statements for the Period from 8 February 2023 to 31 July 2024
Related party transactions |
Summary of transactions with other related parties
The company has taken advantage of the exemption in FRS 102 1AC.35 "Related Party Disclosures" from disclosing transactions with other members of the group.
Included in creditors is a loan from a group company of £63,209. This loan is interest free, unsecured and repayable on demand.