Registered number
09396872
L.A Kane Limited
Filleted Accounts
31 March 2024
L.A Kane Limited
Registered number: 09396872
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 72,424 80,504
Current assets
Debtors 4 52,256 35,546
Cash at bank and in hand 700 2,433
52,956 37,979
Creditors: amounts falling due within one year 5 (115,116) (90,449)
Net current liabilities (62,160) (52,470)
Total assets less current liabilities 10,264 28,034
Creditors: amounts falling due after more than one year 6 (26,948) (27,686)
Net (liabilities)/assets (16,684) 348
Capital and reserves
Called up share capital 1 1
Profit and loss account (16,685) 347
Shareholder's funds (16,684) 348
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr L A Kane
Director
Approved by the board on 19 November 2024
L.A Kane Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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.
Going concern
The financial statements have been prepared on the going concern basis. The director has confirmed his continued support and considers the company has sufficient working capital to continue trading for the forseeable future.
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:
Land and buildings not depreciated
Plant and machinery 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice 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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 38,932 82,981 121,913
Additions - 295 295
At 31 March 2024 38,932 83,276 122,208
Depreciation
At 1 April 2023 - 41,409 41,409
Charge for the year - 8,375 8,375
At 31 March 2024 - 49,784 49,784
Net book value
At 31 March 2024 38,932 33,492 72,424
At 31 March 2023 38,932 41,572 80,504
4 Debtors 2024 2023
£ £
Trade debtors 360 2,000
Other debtors 51,896 33,546
52,256 35,546
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,430 5,449
Trade creditors 193 193
Taxation and social security costs 292 2,316
Other creditors 110,201 82,491
115,116 90,449
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 26,948 27,686
7 Related party transactions 2024 2023
£ £
Harris and Kane Ltd
Mr L A Kane is a director
Amount due from related party 49,692 33,383
8 Other information
L.A Kane Limited is a private company limited by shares and incorporated in England. Its registered office is:
Demar House, 14 Church Road
East Wittering
Chichester
West Sussex
PO20 8PS
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