Kevin Smith (Preston Developments) Limited 01754967 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is building contractors and developers of land for residential housing Digita Accounts Production Advanced 6.30.9574.0 true true 01754967 2023-10-01 2024-09-30 01754967 2024-09-30 01754967 core:RetainedEarningsAccumulatedLosses 2024-09-30 01754967 core:ShareCapital 2024-09-30 01754967 core:CurrentFinancialInstruments 2024-09-30 01754967 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 01754967 core:PlantMachinery 2024-09-30 01754967 bus:SmallEntities 2023-10-01 2024-09-30 01754967 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 01754967 bus:FullAccounts 2023-10-01 2024-09-30 01754967 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 01754967 bus:RegisteredOffice 2023-10-01 2024-09-30 01754967 bus:CompanySecretaryDirector2 2023-10-01 2024-09-30 01754967 bus:Director1 2023-10-01 2024-09-30 01754967 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 01754967 core:PlantMachinery 2023-10-01 2024-09-30 01754967 core:VehiclesPlantMachinery 2023-10-01 2024-09-30 01754967 countries:EnglandWales 2023-10-01 2024-09-30 01754967 2023-09-30 01754967 core:PlantMachinery 2023-09-30 01754967 2022-10-01 2023-09-30 01754967 2023-09-30 01754967 core:RetainedEarningsAccumulatedLosses 2023-09-30 01754967 core:ShareCapital 2023-09-30 01754967 core:CurrentFinancialInstruments 2023-09-30 01754967 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 01754967 core:PlantMachinery 2023-09-30 iso4217:GBP xbrli:pure

Registration number: 01754967

Kevin Smith (Preston Developments) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Kevin Smith (Preston Developments) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Kevin Smith (Preston Developments) Limited

Company Information

Directors

Mr K Smith

Mrs N Smith

Company secretary

Mrs N Smith

Registered office

Meadow Bank
Fulwood Row
Fulwood
Preston
PR2 5RU

Accountants

Rotherham Taylor Limited
Chartered Accountants
21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

 

Kevin Smith (Preston Developments) Limited

(Registration number: 01754967)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,023

5,373

Current assets

 

Debtors

5

516

4,071

Cash at bank and in hand

 

173

4,474

 

689

8,545

Creditors: Amounts falling due within one year

6

(232,892)

(231,033)

Net current liabilities

 

(232,203)

(222,488)

Net liabilities

 

(229,180)

(217,115)

Capital and reserves

 

Called up share capital

3

3

Retained earnings

(229,183)

(217,118)

Shareholders' deficit

 

(229,180)

(217,115)

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 November 2024 and signed on its behalf by:
 

.........................................
Mr K Smith
Director

   
     
 

Kevin Smith (Preston Developments) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Meadow Bank
Fulwood Row
Fulwood
Preston
PR2 5RU

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The director considers the company is able to meet its liabilities and financial obligations for the foreseeable future. The financial statements have therefore been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Kevin Smith (Preston Developments) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Vehicles, plant and machinery

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Kevin Smith (Preston Developments) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Vehicles, plant and machinery
£

Total
£

Cost or valuation

At 1 October 2023

23,503

23,503

At 30 September 2024

23,503

23,503

Depreciation

At 1 October 2023

18,130

18,130

Charge for the year

2,350

2,350

At 30 September 2024

20,480

20,480

Carrying amount

At 30 September 2024

3,023

3,023

At 30 September 2023

5,373

5,373

5

debtors

2024
£

2023
£

Trade debtors

-

3,000

Other debtors

516

1,071

 

516

4,071

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and borrowings

7

232,242

230,383

Other creditors

 

650

650

 

232,892

231,033

 

Kevin Smith (Preston Developments) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Director's loan account

232,242

230,383

The director's loan account is non-interest bearing and has no formal repayment terms.