Kingston Plus Ltd
Registered number: 07621437
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 15,781 19,726
Current assets
Stocks 6,680 54,170
Debtors 4 32,293 42,934
Cash at bank and in hand 31,644 41,044
70,617 138,148
Creditors: amounts falling due within one year 5 (13,160) (22,605)
Net current assets 57,457 115,543
Total assets less current liabilities 73,238 135,269
Creditors: amounts falling due after more than one year 6 - (55,227)
Net assets 73,238 80,042
Capital and reserves
Called up share capital 100 100
Profit and loss account 73,138 79,942
Shareholder's funds 73,238 80,042
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
M Y Kim
Director
Approved by the board on 29 November 2024
Kingston Plus Ltd
Notes to the Accounts
for the year ended 31 May 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.
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:
Motor vehicle 20% 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - 1
3 Tangible fixed assets
Motor vehicle
£
Cost
At 1 June 2023 30,822
At 31 May 2024 30,822
Depreciation
At 1 June 2023 11,096
Charge for the year 3,945
At 31 May 2024 15,041
Net book value
At 31 May 2024 15,781
At 31 May 2023 19,726
4 Debtors 2024 2023
£ £
Trade debtors 3,613 202
Other debtors 28,680 42,732
32,293 42,934
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 10,528 -
Other taxes and social security costs - 290
Other creditors 2,632 22,315
13,160 22,605
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 32,576
Obligations under finance lease and hire purchase contracts - 22,651
- 55,227
7 Other information
Kingston Plus Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Suite 41, Chessington Business Centre
37 Cox Lane
Chessington
Surrey
KT9 1SD
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