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KERATIN KITS LTD

Registered Number
07747265
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

KERATIN KITS LTD
Company Information
for the year from 1 September 2023 to 31 August 2024

Director

L Bladon

Registered Address

21 Merriefield Drive
Broadstone
BH18 8BW

Registered Number

07747265 (England and Wales)
KERATIN KITS LTD
Statement of Financial Position
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets39,20917,565
9,20917,565
Current assets
Stocks467,29028,346
Debtors188334
Cash at bank and on hand12,37837,785
79,85666,465
Creditors amounts falling due within one year5(57,527)(54,219)
Net current assets (liabilities)22,32912,246
Total assets less current liabilities31,53829,811
Provisions for liabilities6(1,750)(34)
Net assets29,78829,777
Capital and reserves
Called up share capital100100
Profit and loss account29,68829,677
Shareholders' funds29,78829,777
The financial statements were approved and authorised for issue by the Director on 16 January 2025, and are signed on its behalf by:
L Bladon
Director
Registered Company No. 07747265
KERATIN KITS LTD
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Land and buildings15
Plant and machinery25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Land & buildings

Office Equipment

Total

£££
Cost or valuation
At 01 September 2317,38675118,137
At 31 August 2417,38675118,137
Depreciation and impairment
At 01 September 23-572572
Charge for year8,311458,356
At 31 August 248,3116178,928
Net book value
At 31 August 249,0751349,209
At 31 August 2317,38617917,565
4.Stocks

2024

2023

££
Other stocks67,29028,346
Total67,29028,346
5.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts-4,754
Taxation and social security57,52348,810
Other creditors45
Accrued liabilities and deferred income-650
Total57,52754,219
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)1,75034
Total1,75034
7.Prior period policy changes
This year is the first year the building has been depreciated. 4 years worth of depreciation has been recorded in this years accounts.