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REGISTERED NUMBER: 01805777 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Karpet Kingdom Limited

Karpet Kingdom Limited (Registered number: 01805777)






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




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


Karpet Kingdom Limited (Registered number: 01805777)

Abridged Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 262,575 208,805
262,575 208,805

CURRENT ASSETS
Stocks 558,831 589,192
Debtors 6 2,623,187 2,578,962
Cash at bank and in hand 670,645 671,948
3,852,663 3,840,102
CREDITORS
Amounts falling due within one year 539,545 710,648
NET CURRENT ASSETS 3,313,118 3,129,454
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,575,693

3,338,259

PROVISIONS FOR LIABILITIES 35,642 18,569
NET ASSETS 3,540,051 3,319,690

CAPITAL AND RESERVES
Called up share capital 1,010 1,010
Retained earnings 3,539,041 3,318,680
SHAREHOLDERS' FUNDS 3,540,051 3,319,690

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Karpet Kingdom Limited (Registered number: 01805777)

Abridged Balance Sheet - continued
30 April 2024


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 Income Statement and an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2024 and were signed on its behalf by:





Mr S D Harrod - Director


Karpet Kingdom Limited (Registered number: 01805777)

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

1. STATUTORY INFORMATION

Karpet Kingdom 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: 01805777

Registered office: Number Sixty One
Alexandra Road
Lowestoft
Suffolk
NR32 1PL

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leased property improvements - 5% on cost
Plant and equipment - 25% on cost, 10% on cost and 4% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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 Income Statement, 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.


Karpet Kingdom Limited (Registered number: 01805777)

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

2. 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
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023
and 30 April 2024 250,000
AMORTISATION
At 1 May 2023
and 30 April 2024 250,000
NET BOOK VALUE

At 30 April 2024 -
At 30 April 2023 -

Karpet Kingdom Limited (Registered number: 01805777)

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

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023 690,045
Additions 109,217
Disposals (19,500 )
At 30 April 2024 779,762
DEPRECIATION
At 1 May 2023 481,240
Charge for year 55,203
Eliminated on disposal (19,256 )
At 30 April 2024 517,187
NET BOOK VALUE
At 30 April 2024 262,575
At 30 April 2023 208,805

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Amounts owed by group undertakings 2,256,392 2,017,178