Registered number
05130964
The Key Cobbler Limited
Unaudited Filleted Accounts
For the Year Ended
31 May 2024
The Key Cobbler Limited
Registered number: 05130964
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 155
Tangible assets 4 12,505 10,050
12,505 10,205
Current assets
Stocks 11,500 11,500
Debtors 5 2,746 2,718
Cash at bank and in hand 34,821 38,800
49,067 53,018
Creditors: amounts falling due within one year 6 (59,095) (61,213)
Net current liabilities (10,028) (8,195)
Total assets less current liabilities 2,477 2,010
Provisions for liabilities (2,376) (1,910)
Net assets 101 100
Capital and reserves
Called up share capital 100 100
Profit and loss account 1 -
Shareholders' funds 101 100
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M A Nicholson
Director
Approved by the board on 3 January 2025
The Key Cobbler Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 10% reducing balance
Computers over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 2
3 Intangible fixed assets £
Lease:
Cost
At 1 June 2023 3,005
At 31 May 2024 3,005
Amortisation
At 1 June 2023 2,850
Provided during the year 155
At 31 May 2024 3,005
Net book value
At 31 May 2024 -
At 31 May 2023 155
Lease is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 41,360
Additions 3,550
At 31 May 2024 44,910
Depreciation
At 1 June 2023 31,310
Charge for the year 1,095
At 31 May 2024 32,405
Net book value
At 31 May 2024 12,505
At 31 May 2023 10,050
5 Debtors 2024 2023
£ £
Other debtors 2,746 2,718
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 314
Trade creditors 5,470 2,737
Taxation and social security costs 15,789 15,539
Other creditors 37,836 42,623
59,095 61,213
7 Other information
The Key Cobbler Limited is a private company limited by shares and incorporated in England. Its registered office is:
4 Market Place
Kendal
Cumbria
LA9 4TN
The Key Cobbler Limited 05130964 false 2023-06-01 2024-05-31 2024-05-31 VT Final Accounts July 2024 M A Nicholson No description of principal activity 05130964 2022-06-01 2023-05-31 05130964 core:WithinOneYear 2023-05-31 05130964 core:ShareCapital 2023-05-31 05130964 core:RetainedEarningsAccumulatedLosses 2023-05-31 05130964 2023-06-01 2024-05-31 05130964 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 05130964 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 05130964 bus:Director40 2023-06-01 2024-05-31 05130964 1 2023-06-01 2024-05-31 05130964 2 2023-06-01 2024-05-31 05130964 core:Goodwill 2023-06-01 2024-05-31 05130964 core:PlantMachinery 2023-06-01 2024-05-31 05130964 countries:England 2023-06-01 2024-05-31 05130964 bus:FRS102 2023-06-01 2024-05-31 05130964 bus:FilletedAccounts 2023-06-01 2024-05-31 05130964 2024-05-31 05130964 core:WithinOneYear 2024-05-31 05130964 core:ShareCapital 2024-05-31 05130964 core:RetainedEarningsAccumulatedLosses 2024-05-31 05130964 core:Goodwill 2024-05-31 05130964 core:PlantMachinery 2024-05-31 05130964 2023-05-31 05130964 core:Goodwill 2023-05-31 05130964 core:PlantMachinery 2023-05-31 iso4217:GBP xbrli:pure