IRIS Accounts Production v24.3.2.46 07448405 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh074484052022-12-31074484052023-12-31074484052023-01-012023-12-31074484052021-12-31074484052022-01-012022-12-31074484052022-12-3107448405ns15:EnglandWales2023-01-012023-12-3107448405ns14:PoundSterling2023-01-012023-12-3107448405ns10:Director12023-01-012023-12-3107448405ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3107448405ns10:SmallEntities2023-01-012023-12-3107448405ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3107448405ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3107448405ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3107448405ns10:AbridgedAccounts2023-01-012023-12-3107448405ns5:CurrentFinancialInstruments2023-12-3107448405ns5:CurrentFinancialInstruments2022-12-3107448405ns5:Non-currentFinancialInstruments2023-12-3107448405ns5:Non-currentFinancialInstruments2022-12-3107448405ns5:ShareCapital2023-12-3107448405ns5:ShareCapital2022-12-3107448405ns5:RetainedEarningsAccumulatedLosses2023-12-3107448405ns5:RetainedEarningsAccumulatedLosses2022-12-3107448405ns10:RegisteredOffice2023-01-012023-12-3107448405ns5:PlantMachinery2023-01-012023-12-3107448405ns5:FurnitureFittings2023-01-012023-12-3107448405ns5:MotorVehicles2023-01-012023-12-3107448405ns5:ComputerEquipment2023-01-012023-12-31
REGISTERED NUMBER: 07448405 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31st December 2023

for

North Kent Distribution Limited

North Kent Distribution Limited (Registered number: 07448405)






Contents of the Financial Statements
for the Year Ended 31st December 2023




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


North Kent Distribution Limited (Registered number: 07448405)

Abridged Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,341,781 245,075
Investments 6 3,360 3,360
1,345,141 248,435

CURRENT ASSETS
Debtors 1,248,453 1,316,980
Cash at bank 148,364 116,915
1,396,817 1,433,895
CREDITORS
Amounts falling due within one year 1,979,855 1,230,266
NET CURRENT (LIABILITIES)/ASSETS (583,038 ) 203,629
TOTAL ASSETS LESS CURRENT
LIABILITIES

762,103

452,064

CREDITORS
Amounts falling due after more than one
year

(736,041

)

(113,151

)

PROVISIONS FOR LIABILITIES - (44,850 )
NET ASSETS 26,062 294,063

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 26,059 294,060
SHAREHOLDERS' FUNDS 26,062 294,063

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 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.

North Kent Distribution Limited (Registered number: 07448405)

Abridged Balance Sheet - continued
31st December 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 27th December 2024 and were signed on its behalf by:





Mr G Knight - Director


North Kent Distribution Limited (Registered number: 07448405)

Notes to the Financial Statements
for the Year Ended 31st December 2023

1. STATUTORY INFORMATION

North Kent Distribution Limited 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: 07448405

Registered office: Units A1 & A2 Manor Way Ind Estate
Manor Way
Swanscombe
Kent
DA10 0PP

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.

Revenue recognition
Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the company's activities. Sales are presented, net of value-added tax, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company's activities as follows:

Rendering of services
Revenue from the rendering of services is recognised at the point at which those services have been provided to the customer. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year. They are subsequently released to the profit and loss in the period the services are rendered.

Sale of goods
Revenue from the sale of goods is recognised at the point at which the goods have been delivered to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance and 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance and 15% on reducing balance
Computer equipment - 33% on cost

North Kent Distribution Limited (Registered number: 07448405)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

3. ACCOUNTING POLICIES - continued

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss.

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.


North Kent Distribution Limited (Registered number: 07448405)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2022 - 55 ) .

North Kent Distribution Limited (Registered number: 07448405)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st January 2023 629,745
Additions 1,379,042
Disposals (62,049 )
At 31st December 2023 1,946,738
DEPRECIATION
At 1st January 2023 384,670
Charge for year 272,132
Eliminated on disposal (51,845 )
At 31st December 2023 604,957
NET BOOK VALUE
At 31st December 2023 1,341,781
At 31st December 2022 245,075

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
Additions 863,722
At 31st December 2023 863,722
DEPRECIATION
Charge for year 129,558
At 31st December 2023 129,558
NET BOOK VALUE
At 31st December 2023 734,164

North Kent Distribution Limited (Registered number: 07448405)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1st January 2023
and 31st December 2023 3,360
NET BOOK VALUE
At 31st December 2023 3,360
At 31st December 2022 3,360