REGISTERED NUMBER: |
Financial Statements |
for the period |
30th January 2023 to 31st January 2024 |
for |
KUSTOM KOATING (UK) LTD |
REGISTERED NUMBER: |
Financial Statements |
for the period |
30th January 2023 to 31st January 2024 |
for |
KUSTOM KOATING (UK) LTD |
KUSTOM KOATING (UK) LTD (REGISTERED NUMBER: 04121572) |
Contents of the Financial Statements |
for the period 30th January 2023 to 31st January 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
KUSTOM KOATING (UK) LTD |
Company Information |
for the period 30th January 2023 to 31st January 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
1 Tower House |
Tower Centre |
Hoddesdon |
Hertfordshire |
EN11 8UR |
BANKERS: |
199 High Street |
Berkhamsted |
Hertfordshire |
HP4 1AW |
SOLICITORS: |
11 High Street |
Tring |
Herts |
HP23 5AL |
KUSTOM KOATING (UK) LTD (REGISTERED NUMBER: 04121572) |
Balance Sheet |
31st January 2024 |
31/1/24 | 29/1/23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
KUSTOM KOATING (UK) LTD (REGISTERED NUMBER: 04121572) |
Balance Sheet - continued |
31st January 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
KUSTOM KOATING (UK) LTD (REGISTERED NUMBER: 04121572) |
Notes to the Financial Statements |
for the period 30th January 2023 to 31st January 2024 |
1. | STATUTORY INFORMATION |
KUSTOM KOATING (UK) LTD is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2023 - NIL). |
KUSTOM KOATING (UK) LTD (REGISTERED NUMBER: 04121572) |
Notes to the Financial Statements - continued |
for the period 30th January 2023 to 31st January 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 30th January 2023 |
and 31st January 2024 |
DEPRECIATION |
At 30th January 2023 |
Charge for period |
At 31st January 2024 |
NET BOOK VALUE |
At 31st January 2024 |
At 29th January 2023 |
Included in cost or valuation of land and buildings is freehold land of £ 70,000 (2023 - £ 70,000 ) which is not depreciated. |
Cost or valuation at 31st January 2024 is represented by: |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings | Totals |
£ | £ | £ | £ |
Valuation in 2004 | 72,192 | - | - | 72,192 |
Cost | 137,808 | 3,023 | 1,415 | 142,246 |
210,000 | 3,023 | 1,415 | 214,438 |
The freehold property has been valued by Mr R Jerome, a director of the company, based on his knowledge of the local property market. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/1/24 | 29/1/23 |
£ | £ |
VAT |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/1/24 | 29/1/23 |
£ | £ |
Bank loans and overdrafts (see note 7) |
Tax |
Related company - P & R Finishing Ltd |
Directors' current accounts |
Accrued expenses |
KUSTOM KOATING (UK) LTD (REGISTERED NUMBER: 04121572) |
Notes to the Financial Statements - continued |
for the period 30th January 2023 to 31st January 2024 |
7. | LOANS |
An analysis of the maturity of loans is given below: |
31/1/24 | 29/1/23 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
Bank loans |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
31/1/24 | 29/1/23 |
£ | £ |
Bank loans |
The bank loan is secured by way of a new legal mortgage over unit 1 site 2 Northbridge Road, Berkhamsted given by Northbridge Property Company Limited. |
9. | PROVISIONS FOR LIABILITIES |
31/1/24 | 29/1/23 |
£ | £ |
Deferred tax | 138 | 171 |
Deferred |
tax |
£ |
Balance at 30th January 2023 |
Provided during period | ( |
) |
Balance at 31st January 2024 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/1/24 | 29/1/23 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
11. | RELATED PARTY DISCLOSURES |
During the year the company was related to P & R Finishing Limited by way of common control. The amount owed to the related party at the year end is separately disclosed under the relevant note to the financial statements. |
12. | ULTIMATE CONTROLLING PARTY |
The controlling party is R Jerome. |