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COMPANY REGISTRATION NUMBER: 08360082
KENDRAY CONSTRUCTION LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 May 2024
KENDRAY CONSTRUCTION LIMITED
STATEMENT OF FINANCIAL POSITION
31 May 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
81,063
104,351
CURRENT ASSETS
Stocks
49,750
52,000
Debtors
6
656,089
657,715
Cash at bank and in hand
364,947
473,591
------------
------------
1,070,786
1,183,306
CREDITORS: amounts falling due within one year
7
906,253
1,032,132
------------
------------
NET CURRENT ASSETS
164,533
151,174
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
245,596
255,525
CREDITORS: amounts falling due after more than one year
8
158,631
160,676
PROVISIONS
6,643
11,595
---------
---------
NET ASSETS
80,322
83,254
---------
---------
CAPITAL AND RESERVES
Called up share capital fully paid
100
100
Profit and loss account
80,222
83,154
--------
--------
SHAREHOLDERS FUNDS
80,322
83,254
--------
--------
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 May 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 .
KENDRAY CONSTRUCTION LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 May 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 J Howden
Mr J P Andrew
Director
Director
Company registration number: 08360082
KENDRAY CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 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 Mill Farm Barn, Church Street, Wadenhoe, Northamptonshire, PE8 5ST.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts receivable during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
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.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
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
-
20% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 4 (2023: 3 ).
5. TANGIBLE ASSETS
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 June 2023
5,750
10,264
150,308
27,774
194,096
Additions
3,070
3,070
-------
--------
---------
--------
---------
At 31 May 2024
5,750
10,264
150,308
30,844
197,166
-------
--------
---------
--------
---------
Depreciation
At 1 June 2023
2,806
9,619
52,248
25,072
89,745
Charge for the year
589
143
24,515
1,111
26,358
-------
--------
---------
--------
---------
At 31 May 2024
3,395
9,762
76,763
26,183
116,103
-------
--------
---------
--------
---------
Carrying amount
At 31 May 2024
2,355
502
73,545
4,661
81,063
-------
--------
---------
--------
---------
At 31 May 2023
2,944
645
98,060
2,702
104,351
-------
--------
---------
--------
---------
6. DEBTORS
2024
2023
£
£
Trade debtors
586,172
592,737
Other debtors
69,917
64,978
---------
---------
656,089
657,715
---------
---------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
86,018
62,500
Trade creditors
616,740
822,482
Social security and other taxes
47,318
36,557
Other creditors
156,177
110,593
---------
------------
906,253
1,032,132
---------
------------
Included within other creditors are amounts of £14,927 (2023 - £14,440) relating to hire purchase contracts which are secured on the assets to which they relate.
8. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
102,791
90,356
Other creditors
55,840
70,320
---------
---------
158,631
160,676
---------
---------
Included within other creditors are amounts of £55,840 (2023 - £70,320) relating to hire purchase contracts which are secured on the assets to which they relate.