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COMPANY REGISTRATION NUMBER: 12488599
Kingstreet Mayfair Limited
Filleted Unaudited Financial Statements
29 February 2024
Kingstreet Mayfair Limited
Financial Statements
Year ended 29 February 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Kingstreet Mayfair Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
£
Current assets
Debtors
4
289,383
362,490
Cash at bank and in hand
499
535
----------
----------
289,882
363,025
Creditors: amounts falling due within one year
5
1,250
1,250
----------
----------
Net current assets
288,632
361,775
----------
----------
Total assets less current liabilities
288,632
361,775
----------
----------
Net assets
288,632
361,775
----------
----------
Capital and reserves
Called up share capital
6
100
100
Profit and loss account
288,532
361,675
----------
----------
Shareholders funds
288,632
361,775
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 November 2024 , and are signed on behalf of the board by:
Mr M J Scott
Director
Company registration number: 12488599
Kingstreet Mayfair Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Printing House, 66 Lower Road, Harrow, HA2 0DH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Debtors
2024
2023
£
£
Corporation tax repayable
12
7,201
Other debtors
289,371
355,289
----------
----------
289,383
362,490
----------
----------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
1,250
1,250
-------
-------
6. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
7. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
Balance owed by/(owed to)
2024
2023
2024
2023
£
£
£
£
Related parties
289,371
354,268
----
----
----------
----------
The amounts owed by/(owed to) related parties are in respect of short term interest free loans.