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Registration number: 07593271

Alistair Kinsey Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Alistair Kinsey Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Alistair Kinsey Limited

(Registration number: 07593271)
Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

166,012

171,541

Current assets

 

Stocks

5

16,201

22,351

Debtors

6

12,995

5,418

Cash at bank and in hand

 

28,616

13,460

 

57,812

41,229

Creditors: Amounts falling due within one year

7

(30,098)

(32,741)

Net current assets

 

27,714

8,488

Total assets less current liabilities

 

193,726

180,029

Creditors: Amounts falling due after more than one year

7

(79,863)

(94,486)

Provisions for liabilities

(2,952)

(2,628)

Net assets

 

110,911

82,915

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

110,910

82,914

Shareholders' funds

 

110,911

82,915

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 9 January 2025
 

 

Alistair Kinsey Limited

(Registration number: 07593271)
Statement of Financial Position as at 30 April 2024 (continued)


A D Kinsey
Director

 

Alistair Kinsey Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
1A Pym Street
Tavistock
Devon
PL19 0AW

Principal activity

The principal activity of the company is the retail of hearing and mobility devices.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Alistair Kinsey Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Adjusting events after the financial period

The ultimate parent is GJHAZ Limited from 21 June 2024. The registered office is Plym House, 3 Longbridge Road, Marsh Mills, Plymouth, Devon, PL6 8LT.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, 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 specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Alistair Kinsey Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Asset class

Depreciation method and rate

Fittings fixtures and equipment

15% reducing balance

Motor vehicles

25% reducing balance

Computer equipment

25% reducing balance

Freehold property

2% straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Alistair Kinsey Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 5).

 

Alistair Kinsey Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

175,237

24,790

10,575

5,500

216,102

Additions

-

-

691

-

691

At 30 April 2024

175,237

24,790

11,266

5,500

216,793

Depreciation

At 1 May 2023

17,525

16,390

5,301

5,345

44,561

Charge for the year

3,505

1,238

1,433

44

6,220

At 30 April 2024

21,030

17,628

6,734

5,389

50,781

Carrying amount

At 30 April 2024

154,207

7,162

4,532

111

166,012

At 30 April 2023

157,712

8,400

5,274

155

171,541

Included within the net book value of land and buildings above is £154,207 (2023 - £157,712) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

16,201

22,351

6

Debtors

2024
£

2023
£

Other debtors

12,284

4,709

Prepayments

711

709

12,995

5,418

 

Alistair Kinsey Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

6,468

5,311

Taxation and social security

 

16,485

7,897

Accruals and deferred income

 

2,145

1,989

Other creditors

 

5,000

17,544

 

30,098

32,741


The bank loans are secured by way of fixed and floating charge over the company property.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

79,863

94,486


The bank loans are secured by way of fixed and floating charge over the company property.

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Alistair Kinsey Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

64,863

74,486

Other borrowings

15,000

20,000

79,863

94,486

Current loans and borrowings

2024
£

2023
£

Bank borrowings

6,468

5,311

10

Related party transactions

Transactions with the director

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

A D Kinsey

Director

(12,544)

47,377

(32,604)

2,229

         
       

 

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

A D Kinsey

Director

(20,578)

40,566

(32,532)

(12,544)

Other transactions with the director

The directors loans are interest free and repayable on demand.