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Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Kensington Autocare Limited

Kensington Autocare Limited (Registered number: 03314131)

Contents of the Financial Statements
for the Year Ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kensington Autocare Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: P J D McBride





SECRETARY: Mrs R Jones





REGISTERED OFFICE: 8-10 South Street
Epsom
Surrey
KT18 7PF





REGISTERED NUMBER: 03314131 (England and Wales)





ACCOUNTANTS: Williams & Co
Chartered Accountants
8/10 South Street
Epsom
Surrey
KT18 7PF

Kensington Autocare Limited (Registered number: 03314131)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 5,969 7,176
5,969 7,176

CURRENT ASSETS
Stocks 36,300 33,000
Debtors 6 20,630 14,406
Cash at bank 11,099 31,838
68,029 79,244
CREDITORS
Amounts falling due within one year 7 61,479 63,167
NET CURRENT ASSETS 6,550 16,077
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,519

23,253

CREDITORS
Amounts falling due after more than one
year

8

(10,443

)

(20,651

)

PROVISIONS FOR LIABILITIES (1,492 ) (1,794 )
NET ASSETS 584 808

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 484 708
SHAREHOLDERS' FUNDS 584 808

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Kensington Autocare Limited (Registered number: 03314131)

Balance Sheet - continued
31 May 2024


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

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 director and authorised for issue on 3 January 2025 and were signed by:





P J D McBride - Director


Kensington Autocare Limited (Registered number: 03314131)

Notes to the Financial Statements
for the Year Ended 31 May 2024


1. STATUTORY INFORMATION

Kensington Autocare Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 represents amounts invoiced for the servicing and maintenance of motor vehicles, including parts where appropriate. Turnover is stated in the accounts excluding value added tax, and is accounted for on completion of works carried out.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1998, is being amortised evenly over its estimated useful life of five 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.
Plant and machinery etc - 25% on cost, 25% on reducing balance, 10% on cost and Straight line over 3 years

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 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.

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.

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 4 (2023 - 5 ) .

Kensington Autocare Limited (Registered number: 03314131)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 4,800
AMORTISATION
At 1 June 2023
and 31 May 2024 4,800
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 1,150 109,254 110,404
DEPRECIATION
At 1 June 2023 - 103,228 103,228
Charge for year - 1,207 1,207
At 31 May 2024 - 104,435 104,435
NET BOOK VALUE
At 31 May 2024 1,150 4,819 5,969
At 31 May 2023 1,150 6,026 7,176

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,032 14,406
Other debtors 16,598 -
20,630 14,406

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,199 9,943
Trade creditors 33,280 34,916
Taxation and social security 14,482 9,085
Other creditors 3,518 9,223
61,479 63,167

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 10,443 20,651

Kensington Autocare Limited (Registered number: 03314131)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary shares £1 100 100