Registered number
07210469
Ken Brown Agencies Limited
Filleted Accounts
31 March 2024
Ken Brown Agencies Limited
Registered number: 07210469
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 795,262 274,571
Current assets
Stocks - 177,105
Debtors 4 720,180 812,734
Cash at bank and in hand 1,725,916 1,602,651
2,446,096 2,592,490
Creditors: amounts falling due within one year 5 (353,107) (279,125)
Net current assets 2,092,989 2,313,365
Net assets 2,888,251 2,587,936
Capital and reserves
Called up share capital 10 10
Profit and loss account 2,888,241 2,587,926
Shareholders' funds 2,888,251 2,587,936
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.
Mr K Brown
Director
Approved by the board on 25 November 2024
Ken Brown Agencies 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.
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:
Freehold buildings No depreciation
Fixtures, fittings, tools and equipment 30% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 272,122 75,009 347,131
Additions 521,426 - 521,426
Disposals - (56,440) (56,440)
At 31 March 2024 793,548 18,569 812,117
Depreciation
At 1 April 2023 - 72,560 72,560
Charge for the year - 735 735
On disposals - (56,440) (56,440)
At 31 March 2024 - 16,855 16,855
Net book value
At 31 March 2024 793,548 1,714 795,262
At 31 March 2023 272,122 2,449 274,571
4 Debtors 2024 2023
£ £
Trade debtors 71,260 62,150
Other debtors 648,920 750,584
720,180 812,734
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 123,417 84,261
Taxation and social security costs 187,433 156,167
Other creditors 42,257 38,697
353,107 279,125
6 Loans to directors 2024 2023
£ £
Mr K Brown 346,462 508,518
The loan is interest free, unsecured and payable within one year.
346,462 508,518
7 Other information
Ken Brown Agencies Limited is a private company limited by shares and incorporated in England. Its registered office is:
Office F1
Tanfield Lea Business Centre
Stanley
Co. Durham
DH9 9DB
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