K G Bell Limited 11197225 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is glaziers Digita Accounts Production Advanced 6.30.9574.0 true true 11197225 2023-03-01 2024-02-29 11197225 2024-02-29 11197225 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-02-29 11197225 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-02-29 11197225 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-02-29 11197225 core:CurrentFinancialInstruments 2024-02-29 11197225 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 11197225 core:Non-currentFinancialInstruments 2024-02-29 11197225 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 11197225 core:FurnitureFittings 2024-02-29 11197225 core:MotorVehicles 2024-02-29 11197225 bus:SmallEntities 2023-03-01 2024-02-29 11197225 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 11197225 bus:FilletedAccounts 2023-03-01 2024-02-29 11197225 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 11197225 bus:RegisteredOffice 2023-03-01 2024-02-29 11197225 bus:Director1 2023-03-01 2024-02-29 11197225 bus:Director2 2023-03-01 2024-02-29 11197225 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-03-01 2024-02-29 11197225 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11197225 core:FurnitureFittings 2023-03-01 2024-02-29 11197225 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 11197225 core:MotorVehicles 2023-03-01 2024-02-29 11197225 countries:EnglandWales 2023-03-01 2024-02-29 11197225 2023-02-28 11197225 core:FurnitureFittings 2023-02-28 11197225 core:MotorVehicles 2023-02-28 11197225 2022-03-01 2023-02-28 11197225 2023-02-28 11197225 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-02-28 11197225 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-02-28 11197225 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-02-28 11197225 core:CurrentFinancialInstruments 2023-02-28 11197225 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 11197225 core:Non-currentFinancialInstruments 2023-02-28 11197225 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 11197225 core:FurnitureFittings 2023-02-28 11197225 core:MotorVehicles 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11197225

K G Bell Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

K G Bell Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

K G Bell Limited

Company Information

Directors

K R Bell

T F Townson

Registered office

1 - 3 Chester Road
Neston
Cheshire
CH64 9PA

Accountants

Phillip Bates and Co Limited
1 - 3 Chester Road
Neston
Cheshire
CH64 9PA

 

K G Bell Limited

(Registration number: 11197225)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

19,917

27,753

Current assets

 

Stocks

5

4,000

4,104

Debtors

6

19,835

19,781

Cash at bank and in hand

 

47,855

48,520

 

71,690

72,405

Creditors: Amounts falling due within one year

7

(59,718)

(40,858)

Net current assets

 

11,972

31,547

Total assets less current liabilities

 

31,889

59,300

Creditors: Amounts falling due after more than one year

7

(14,500)

(24,500)

Provisions for liabilities

(3,851)

(4,227)

Net assets

 

13,538

30,573

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

13,438

30,473

Shareholders' funds

 

13,538

30,573

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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 27 November 2024 and signed on its behalf by:
 

 

K G Bell Limited

(Registration number: 11197225)
Balance Sheet as at 29 February 2024

.........................................
K R Bell
Director

 

K G Bell Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 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:
1 - 3 Chester Road
Neston
Cheshire
CH64 9PA
England

These financial statements were authorised for issue by the Board on 27 November 2024.

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 financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

K G Bell Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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.

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

Fixtures and fittings

25% straight-line basis

Motor vehicles

25% straight-line basis

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

K G Bell Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

K G Bell Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

4

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

8,867

52,088

60,955

Additions

1,038

-

1,038

At 29 February 2024

9,905

52,088

61,993

Depreciation

At 1 March 2023

4,080

29,122

33,202

Charge for the year

748

8,126

8,874

At 29 February 2024

4,828

37,248

42,076

Carrying amount

At 29 February 2024

5,077

14,840

19,917

At 28 February 2023

4,787

22,966

27,753

5

Stocks

2024
£

2023
£

Other inventories

4,000

4,104

6

Debtors

Current

2024
£

2023
£

Trade debtors

19,835

19,780

Other debtors

-

1

 

19,835

19,781

 

K G Bell Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

11,000

12,000

Taxation and social security

 

21,499

16,026

Accruals and deferred income

 

2,500

2,400

Other creditors

 

24,719

10,432

 

59,718

40,858

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

14,500

24,500

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

13,333

22,333

Hire purchase contracts

1,167

2,167

14,500

24,500

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

11,000

Hire purchase contracts

1,000

1,000

11,000

12,000