Company registration number 07140797 (England and Wales)
KINGFISHER FLOORING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
KINGFISHER FLOORING LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
KINGFISHER FLOORING LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
24,358
30,992
Current assets
Stocks
1,500
1,500
Debtors
181,725
174,153
183,225
175,653
Creditors: amounts falling due within one year
(190,493)
(171,658)
Net current (liabilities)/assets
(7,268)
3,995
Total assets less current liabilities
17,090
34,987
Creditors: amounts falling due after more than one year
(18,942)
(31,240)
Provisions for liabilities
(2,291)
(3,299)
Net (liabilities)/assets
(4,143)
448
Capital and reserves
Called up share capital
4
100
100
Profit and loss reserves
(4,243)
348
Total equity
(4,143)
448
KINGFISHER FLOORING LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These 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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 22 January 2025
Mr A J Brennan
Director
Company registration number 07140797 (England and Wales)
KINGFISHER FLOORING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Kingfisher Flooring Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6 Manor Park Business Centre, Mackenzie Way, Cheltenham, Gloucestershire, United Kingdom, GL51 9TX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company relies for its working capital on several different sources, including companies under common control. The director has assessed the working capital requirements of the company for a period of twelve months from the date of approval of these financial statements and, despite the ongoing uncertainties surrounding the national economy, is confident that the company will generate sufficient funds to enable it to continue to trade as a going concern. As a result the directors considers it appropriate to assume that the company can continue as a going concern and has prepared the financial statements on that basis.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue is recognised at the point of invoicing or payment, whichever happens first.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% on cost
Computers
20% reducing balance
Motor vehicles
20% reducing balance or 20% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

KINGFISHER FLOORING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases. Assets held under finance leases are recognised as assets at initial cost. The related liability is included in the statement of financial position as a finance lease obligation.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
6
6
KINGFISHER FLOORING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Tangible fixed assets
Total
£
Cost
At 1 April 2023 and 31 March 2024
46,882
Depreciation and impairment
At 1 April 2023
15,890
Depreciation charged in the year
6,634
At 31 March 2024
22,524
Carrying amount
At 31 March 2024
24,358
At 31 March 2023
30,992
4
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
50
50
50
50
Ordinary B of £1 each
40
40
40
40
Ordinary C of £1 each
10
10
10
10
100
100
100
100
KINGFISHER FLOORING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
5
Related party transactions

A J Brennan

Sole director and shareholder

 

In a previous accounting period the company loaned Mr Brennan £130,940. During the year an additional £5,914 was loaned to Mr Brennan. The amount due from Mr Brennan at the year end was £136,854 (£130,940). The debt is unsecured and repayable on demand.

 

Design Flooring Cirencester Ltd

A company in which Mr Brennan is a director and shareholder

 

In a previous period the related party loaned the company money for working capital. During the year further money was loaned to the company by the related party. No terms of interest have been agreed and the debt, which is unsecured, is repayable on demand. The balance owing to the related party at the year end was £97,295 (2023: £81,674).

 

During the year the company made sales to the related party of £152,777 (2023: £205,968). These transactions were carried out at an arms length basis.

 

Ford Flooring Ltd

A company in which Mr Brennan is the sole director and shareholder

 

During the year the company borrowed money from the related party for working capital. No terms of interest have been agreed and the debt, which is unsecured, is repayable on demand. The balance owing to the related party at the year end was £3,488 (2023: £nil).

 

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