Registered number
12457637
K & D POLISHING LIMITED
Filleted Accounts
31 March 2024
K & D POLISHING LIMITED
Registered number: 12457637
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 28,228 22,015
Current assets
Debtors 4 44,104 28,750
Cash at bank and in hand 122,349 22,702
166,453 51,452
Creditors: amounts falling due within one year 5 (78,496) (25,879)
Net current assets 87,957 25,573
Total assets less current liabilities 116,185 47,588
Creditors: amounts falling due after more than one year 6 (30,833) (35,168)
Net assets 85,352 12,420
Capital and reserves
Called up share capital 100 100
Profit and loss account 85,252 12,320
Shareholders' funds 85,352 12,420
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Irma Daraselia
Director
Approved by the board on 16 November 2024
K & D POLISHING LIMITED
Notes to the Accounts
for the period from 1 March 2023 to 31 March 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 March 2023 6,830 26,218 33,048
Additions - 13,913 13,913
At 31 March 2024 6,830 40,131 46,961
Depreciation
At 1 March 2023 - 11,033 11,033
Charge for the period 1,366 6,334 7,700
At 31 March 2024 1,366 17,367 18,733
Net book value
At 31 March 2024 5,464 22,764 28,228
At 28 February 2023 6,830 15,185 22,015
4 Debtors 2024 2023
£ £
Trade debtors 41,080 28,750
Other debtors 3,024 -
44,104 28,750
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,000 5,000
Trade creditors 598 2,304
Taxation and social security costs 57,072 13,927
Other creditors 15,826 4,648
78,496 25,879
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans (secured) 30,833 35,168
7 Controlling party
The company was under the ultimate control of its director by virtue of her ownership, togetherwith associates, of the company’s entire issued share capital.
8 Other information
K & D POLISHING LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
9 Thornbury Way
London
E17 5FS
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