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REGISTERED NUMBER: 04791837 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

M K Warehousing Ltd

M K Warehousing Ltd (Registered number: 04791837)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


M K Warehousing Ltd (Registered number: 04791837)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £ £
Fixed assets
Intangible assets 5 1,333 2,666
Tangible assets 6 826,497 845,920
827,830 848,586

Current assets
Stocks 1,292,703 880,031
Debtors 7 387,387 347,834
Cash at bank and in hand 177,644 335,212
1,857,734 1,563,077
Creditors
Amounts falling due within one year 8 (663,417 ) (690,234 )
Net current assets 1,194,317 872,843
Total assets less current liabilities 2,022,147 1,721,429

Creditors
Amounts falling due after more than one
year

9

(10,496

)

(19,277

)

Provisions for liabilities (21,135 ) (20,836 )
Net assets 1,990,516 1,681,316

Capital and reserves
Called up share capital 100 100
Retained earnings 1,990,416 1,681,216
1,990,516 1,681,316

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

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.

M K Warehousing Ltd (Registered number: 04791837)

Balance Sheet - continued
30 June 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 December 2024 and were signed on its behalf by:





Mr K Willis - Director


M K Warehousing Ltd (Registered number: 04791837)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. Statutory information

M K Warehousing Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04791837

Registered office: Alpha Delta House 1-1a
Rashs Green
Dereham
Norfolk
NR19 1JG

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 25% p.a. reducing balance
Plant and machinery - 25% p.a. reducing balance

M K Warehousing Ltd (Registered number: 04791837)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


3. Accounting policies - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items. Net realisable value is calculated at the lower of cost or selling price less cost to complete.

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.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


M K Warehousing Ltd (Registered number: 04791837)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


3. Accounting policies - continued
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 year 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

4. Employees and directors

The average number of employees during the year was 15 (2023 - 11 ) .

5. Intangible fixed assets
Computer
software
£
Cost
At 1 July 2023
and 30 June 2024 6,665
Amortisation
At 1 July 2023 3,999
Amortisation for year 1,333
At 30 June 2024 5,332
Net book value
At 30 June 2024 1,333
At 30 June 2023 2,666

M K Warehousing Ltd (Registered number: 04791837)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


6. Tangible fixed assets
Freehold Improvements Plant and
property to property machinery Totals
£ £ £ £
Cost
At 1 July 2023 998,670 3,036 229,055 1,230,761
Additions - - 27,245 27,245
At 30 June 2024 998,670 3,036 256,300 1,258,006
Depreciation
At 1 July 2023 239,679 2,979 142,183 384,841
Charge for year 19,973 14 26,681 46,668
At 30 June 2024 259,652 2,993 168,864 431,509
Net book value
At 30 June 2024 739,018 43 87,436 826,497
At 30 June 2023 758,991 57 86,872 845,920

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

7. Debtors: amounts falling due within one year
30.6.24 30.6.23
£ £
Trade debtors 141,235 96,794
Other debtors 246,152 251,040
387,387 347,834

8. Creditors: amounts falling due within one year
30.6.24 30.6.23
£ £
Bank loans and overdrafts 80,723 235,986
Hire purchase contracts 3,413 363
Trade creditors 129,047 37,426
Taxation and social security 373,123 264,453
Other creditors 77,111 152,006
663,417 690,234

M K Warehousing Ltd (Registered number: 04791837)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


8. Creditors: amounts falling due within one year - continued

Included in creditors with amounts falling due within one year is an amount of £3,413 (2023: £363) in respect of hire purchase and finance lease obligations. This is secured on the assets concerned.

9. Creditors: amounts falling due after more than one year
30.6.24 30.6.23
£ £
Bank loans 9,643 19,277
Hire purchase contracts 853 -
10,496 19,277

Included in creditors with amounts falling due within more than one year is an amount of £853 (2023: Nil) in respect of hire purchase and finance lease obligations. This is secured on the assets concerned.