Company No:
Contents
Note | 31.03.2024 | |
£ | ||
Fixed assets | ||
Intangible assets | 3 |
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Tangible assets | 4 |
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2,521,082 | ||
Current assets | ||
Debtors | 5 |
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Cash at bank and in hand | 6 |
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297,936 | ||
Creditors: amounts falling due within one year | 7 | (
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Net current assets | 3,012 | |
Total assets less current liabilities | 2,524,094 | |
Net assets |
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Capital and reserves | ||
Called-up share capital | 8 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of The Kit Room Rental Limited (registered number:
M Born
Director |
S Lee
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
The Kit Room Rental Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Goodwill |
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Plant and machinery etc. |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Financial assets
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
Period from 28.03.2023 to 31.03.2024 |
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Number | |
Monthly average number of persons employed by the company during the period, including directors |
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Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 28 March 2023 |
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Additions |
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At 31 March 2024 |
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Accumulated amortisation | |||
At 28 March 2023 |
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Charge for the financial period |
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At 31 March 2024 |
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Net book value | |||
At 31 March 2024 |
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Plant and machinery etc. | Total | ||
£ | £ | ||
Cost | |||
At 28 March 2023 |
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Additions |
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Disposals | (
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(
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At 31 March 2024 |
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Accumulated depreciation | |||
At 28 March 2023 |
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Charge for the financial period |
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At 31 March 2024 |
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Net book value | |||
At 31 March 2024 |
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31.03.2024 | |
£ | |
Trade debtors |
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31.03.2024 | |
£ | |
Cash at bank and in hand |
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31.03.2024 | |
£ | |
Trade creditors |
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Taxation and social security |
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Other creditors |
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31.03.2024 | |
£ | |
Allotted, called-up and fully-paid | |
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Other related party transactions
31.03.2024 | |
£ | |
Amounts due to related parties | 255,624 |
During the year, rent of £48,000 was paid to a related party.