Company registration number 13989480 (England and Wales)
K D BERKSHIRE 2 LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
K D BERKSHIRE 2 LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
K D BERKSHIRE 2 LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2023
31 October 2023
- 1 -
31 October 2023
31 March 2023
Notes
£
£
£
£
Current assets
Stocks
3
642,773
-
Debtors
4
2,038
100
644,811
100
Creditors: amounts falling due within one year
5
(58,509)
Net current assets
586,302
100
Creditors: amounts falling due after more than one year
6
(592,016)
Net (liabilities)/assets
(5,714)
100
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(5,814)
Total equity
(5,714)
100
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 28 November 2024 and are signed on its behalf by:
M S Evans
Director
Company registration number 13989480 (England and Wales)
K D BERKSHIRE 2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2023
- 2 -
1
Accounting policies
Company information
K D Berkshire 2 Limited is a private company limited by shares incorporated in England and Wales. The registered office is 22 Wycombe End, Beaconsfield, Buckinghamshire, HP9 1NB.
1.1
Reporting period
The accounts represent a period of 7 months from 1st April 2023 to 31 October 2023. The reason for a shortened period is to align the accounting period with the group's accounting period. Due to this fact the comparatives are not entirely comparable.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ”Basic Financial Instruments” to all of its financial instruments.
Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Short term debtors are measured at transaction price less any provision for impairment. Loans receivable are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method, less any provision for impairment.
Basic financial liabilities
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans and other loans, are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
K D BERKSHIRE 2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 3 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
2023
Number
Number
Total
2
2
3
Stocks
2023
2023
£
£
Stocks
642,773
-
4
Debtors
2023
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
100
100
2023
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
1,938
Total debtors
2,038
100
K D BERKSHIRE 2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2023
£
£
Trade creditors
240
Other creditors
58,269
58,509
6
Creditors: amounts falling due after more than one year
2023
2023
£
£
Bank loans and overdrafts
592,016
The bank loans are secured by way of a fixed and floating charges over the assets of the company.
7
Called up share capital
2023
2023
2023
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £1 each
100
100
100
100
8
Related party transactions
The company has taken advantage of the exemption permitted by Section 33 'Related Party Disclosures', not to provide disclosures of transactions entered into with other wholly-owned members of the group.
9
Directors' transactions
At the year end the company owed £3,109 (Mar 2023 - £nil) to a director of the company. This loan is interest free and repayable on demand.