Company registration number 13912897 (England and Wales)
HK Windows Limited
UNAUDITED FINANCIAL STATEMENTS
for the year ended 28 February 2024
PAGES FOR FILING WITH REGISTRAR
HK Windows Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
HK Windows Limited
Statement of financial position
as at 28 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
886
Current assets
Debtors
4
23,301
22,539
Cash at bank and in hand
28,817
8,674
52,118
31,213
Creditors: amounts falling due within one year
5
(13,311)
(12,594)
Net current assets
38,807
18,619
Net assets
39,693
18,619
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
39,593
18,519
Total equity
39,693
18,619
For the financial year ended 28 February 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 of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 6 November 2024
Mr I A Smith
Director
Company registration number 13912897 (England and Wales)
HK Windows Limited
Notes to the financial statements
for the year ended 28 February 2024
- 2 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
33% Straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
HK Windows Limited
Notes to the financial statements (continued)
for the year ended 28 February 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023
Additions
1,066
At 28 February 2024
1,066
Depreciation and impairment
At 1 March 2023
Depreciation charged in the year
180
At 28 February 2024
180
Carrying amount
At 28 February 2024
886
At 28 February 2023
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
11,025
9,963
Other debtors
12,276
12,576
23,301
22,539
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
10,869
10,536
Other creditors
2,442
2,058
13,311
12,594
HK Windows Limited
Notes to the financial statements (continued)
for the year ended 28 February 2024
- 4 -
6
Company information
HK Windows Limited is a private company limited by shares incorporated in England and Wales. The registered office is 225 Gibson Lane, Kippax, Leeds, LS25 7JL.