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REGISTERED NUMBER: 07262935 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

KYNGSWAY LIMITED

KYNGSWAY LIMITED (REGISTERED NUMBER: 07262935)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KYNGSWAY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Mr E N Karkaletsou





REGISTERED OFFICE: Solar House
282 Chase Road
London
N14 6NZ





REGISTERED NUMBER: 07262935 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certified Accountants
Solar House
282 Chase Road
London
N14 6NZ

KYNGSWAY LIMITED (REGISTERED NUMBER: 07262935)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,106 1,244

CURRENT ASSETS
Stocks 5 6,376 6,274
Debtors 6 23,623 48,520
Cash at bank and in hand 25,033 10,168
55,032 64,962
CREDITORS
Amounts falling due within one year 7 39,527 39,792
NET CURRENT ASSETS 15,505 25,170
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,611

26,414

CREDITORS
Amounts falling due after more than one
year

8

(13,871

)

(23,688

)

PROVISIONS FOR LIABILITIES 9 (1,973 ) (1,973 )
NET ASSETS 767 753

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 11 765 751
SHAREHOLDERS' FUNDS 767 753

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

KYNGSWAY LIMITED (REGISTERED NUMBER: 07262935)

BALANCE SHEET - continued
31 MAY 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 director and authorised for issue on 3 December 2024 and were signed by:





Mr E N Karkaletsou - Director


KYNGSWAY LIMITED (REGISTERED NUMBER: 07262935)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Kyngsway Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Turnover
Turnover represents amounts derived from the provision of services to customers during the year, and is recognised at the date the service was provided. This is stated after trade discounts, other sales taxes and net of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixture fittings & equipment - 10% straight line
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

KYNGSWAY LIMITED (REGISTERED NUMBER: 07262935)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


4. TANGIBLE FIXED ASSETS
Fixture
fittings Computer
& equipment equipment Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 164,280 1,385 165,665
DEPRECIATION
At 1 June 2023 163,122 1,299 164,421
Charge for year 116 22 138
At 31 May 2024 163,238 1,321 164,559
NET BOOK VALUE
At 31 May 2024 1,042 64 1,106
At 31 May 2023 1,158 86 1,244

5. STOCKS
31.5.24 31.5.23
£    £   
Stocks 6,376 6,274

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Directors' current accounts 23,623 48,520

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 10,648 10,648
Tax 10,456 10,691
Social security and other taxes 366 264
VAT 18,057 18,189
39,527 39,792

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans - 1-2 years 10,648 10,648
Bank loans - 2-5 years 3,223 13,040
13,871 23,688

KYNGSWAY LIMITED (REGISTERED NUMBER: 07262935)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


9. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£    £   
Deferred tax 1,973 1,973

Deferred
tax
£   
Balance at 1 June 2023 1,973
Balance at 31 May 2024 1,973

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
2 Ordinary Shares £1 2 2

11. RESERVES
Retained
earnings
£   

At 1 June 2023 751
Profit for the year 43,014
Dividends (43,000 )
At 31 May 2024 765

12. DIVIDENDS

£   

Interim - 31/01/2024 21,500
Final - 31/05/2024 21,500

43,000