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REGISTERED NUMBER: 05949653 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 January 2024

for

KMS Distributions Limited

KMS Distributions Limited (Registered number: 05949653)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KMS Distributions Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: MR K SHELTON





SECRETARY: ESSEX SECRETARIAL





REGISTERED OFFICE: Suite L
Radford Business Centre
Radford Way
BILLERICAY
Essex
CM12 0BZ





REGISTERED NUMBER: 05949653 (England and Wales)





ACCOUNTANTS: DANIEL JAMES
UNIT L
RADFORD BUSINESS CENTRE
RADFORD WAY
BILLERICAY
Essex
CM12 0BZ

KMS Distributions Limited (Registered number: 05949653)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 102,638 272,361

CURRENT ASSETS
Stocks 267,095 907,534
Debtors 5 833,348 787,638
Cash at bank and in hand 416,479 558,406
1,516,922 2,253,578
CREDITORS
Amounts falling due within one year 6 402,445 1,117,539
NET CURRENT ASSETS 1,114,477 1,136,039
TOTAL ASSETS LESS CURRENT LIABILITIES 1,217,115 1,408,400

PROVISIONS FOR LIABILITIES 20,285 60,830
NET ASSETS 1,196,830 1,347,570

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,196,829 1,347,569
SHAREHOLDERS' FUNDS 1,196,830 1,347,570

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

KMS Distributions Limited (Registered number: 05949653)

Balance Sheet - continued
31 January 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 January 2025 and were signed by:





MR K SHELTON - Director


KMS Distributions Limited (Registered number: 05949653)

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

1. STATUTORY INFORMATION

KMS Distributions 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 20% on reducing balance

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 Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

KMS Distributions Limited (Registered number: 05949653)

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

2. ACCOUNTING POLICIES - continued

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 10 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 487,639
Additions 161,985
Disposals (397,142 )
At 31 January 2024 252,482
DEPRECIATION
At 1 February 2023 215,278
Charge for year 26,470
Eliminated on disposal (91,904 )
At 31 January 2024 149,844
NET BOOK VALUE
At 31 January 2024 102,638
At 31 January 2023 272,361

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 25,023 39,506
Amounts owed by participating interests 801,119 49,438
Other debtors 7,206 698,694
833,348 787,638

KMS Distributions Limited (Registered number: 05949653)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors (15,630 ) 61,421
Amounts owed to participating interests - 767,675
Taxation and social security 404,516 284,396
Other creditors 13,559 4,047
402,445 1,117,539

Trade Creditors include deposits held in china for stock

7. RELATED PARTY DISCLOSURES

KMS Distributions Limited had a loan balance of £49,438 due to them as at 31st January 2024 from Grandiose Car Sales Limited, an associated company.

At the balance sheet date KMS Distributions Limited had a balance owed to them from Direct Import UK Limited of £751,681. Sales/Purchases are made to the same company through out the period.