7 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 55,000 55,000 xbrli:pure xbrli:shares iso4217:GBP 07183890 2023-04-01 2024-03-31 07183890 2024-03-31 07183890 2023-03-31 07183890 2022-04-01 2023-03-31 07183890 2023-03-31 07183890 2022-03-31 07183890 core:PlantMachinery 2023-04-01 2024-03-31 07183890 core:FurnitureFittings 2023-04-01 2024-03-31 07183890 core:MotorVehicles 2023-04-01 2024-03-31 07183890 bus:Director2 2023-04-01 2024-03-31 07183890 core:NetGoodwill 2024-03-31 07183890 core:PlantMachinery 2023-03-31 07183890 core:FurnitureFittings 2023-03-31 07183890 core:MotorVehicles 2023-03-31 07183890 core:PlantMachinery 2024-03-31 07183890 core:FurnitureFittings 2024-03-31 07183890 core:MotorVehicles 2024-03-31 07183890 core:WithinOneYear 2024-03-31 07183890 core:WithinOneYear 2023-03-31 07183890 core:AfterOneYear 2024-03-31 07183890 core:AfterOneYear 2023-03-31 07183890 core:ShareCapital 2024-03-31 07183890 core:ShareCapital 2023-03-31 07183890 core:RetainedEarningsAccumulatedLosses 2024-03-31 07183890 core:RetainedEarningsAccumulatedLosses 2023-03-31 07183890 core:PlantMachinery 2023-03-31 07183890 core:FurnitureFittings 2023-03-31 07183890 core:MotorVehicles 2023-03-31 07183890 bus:SmallEntities 2023-04-01 2024-03-31 07183890 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07183890 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07183890 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07183890 bus:FullAccounts 2023-04-01 2024-03-31 07183890 core:NetGoodwill 2023-04-01 2024-03-31 07183890 core:OfficeEquipment 2023-04-01 2024-03-31 07183890 core:OfficeEquipment 2023-03-31 07183890 core:OfficeEquipment 2024-03-31 07183890 core:AllAssociates 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 07183890
K K Hemel Hempstead Limited
Filleted Unaudited Financial Statements
31 March 2024
K K Hemel Hempstead Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
34,542
44,465
Current assets
Debtors
7
99,875
103,381
Cash at bank and in hand
251,951
208,149
---------
---------
351,826
311,530
Creditors: amounts falling due within one year
8
117,225
96,479
---------
---------
Net current assets
234,601
215,051
---------
---------
Total assets less current liabilities
269,143
259,516
Creditors: amounts falling due after more than one year
9
28,704
34,259
---------
---------
Net assets
240,439
225,257
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
240,339
225,157
---------
---------
Shareholders funds
240,439
225,257
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
K K Hemel Hempstead Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 22 October 2024 , and are signed on behalf of the board by:
Mr E Wheeler
Director
Company registration number: 07183890
K K Hemel Hempstead Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1st Floor, Lumiere, Elstree Way, Borehamwood, Herts, WD6 1JH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Over 5 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2023: 10 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
55,000
--------
Amortisation
At 1 April 2023 and 31 March 2024
55,000
--------
Carrying amount
At 31 March 2024
--------
At 31 March 2023
--------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 April 2023
40,000
10,590
38,500
23,912
113,002
Additions
2,948
2,948
--------
--------
--------
--------
---------
At 31 March 2024
40,000
10,590
38,500
26,860
115,950
--------
--------
--------
--------
---------
Depreciation
At 1 April 2023
37,138
9,839
800
20,760
68,537
Charge for the year
735
186
9,624
2,326
12,871
--------
--------
--------
--------
---------
At 31 March 2024
37,873
10,025
10,424
23,086
81,408
--------
--------
--------
--------
---------
Carrying amount
At 31 March 2024
2,127
565
28,076
3,774
34,542
--------
--------
--------
--------
---------
At 31 March 2023
2,862
751
37,700
3,152
44,465
--------
--------
--------
--------
---------
7. Debtors
2024
2023
£
£
Trade debtors
65,533
63,043
Amounts owed by group undertakings and undertakings in which the company has a participating interest
5,930
17,655
Other debtors
28,412
22,683
--------
---------
99,875
103,381
--------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
6,157
5,556
Trade creditors
42,488
30,202
Corporation tax
30,922
21,664
Social security and other taxes
2,308
1,999
Other creditors
35,350
37,058
---------
--------
117,225
96,479
---------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
28,704
34,259
--------
--------
10. Related party transactions
The company was under equal control of Mr and Mrs Wheeler throughout the current and previous year. No transactions with Mr and Mrs Wheeler were undertaken such as are required to be disclosed under Financial Reporting Standard 102 (Section 1A).