115 false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2,240 2,240 xbrli:pure xbrli:shares iso4217:GBP 03860908 2023-05-01 2024-04-30 03860908 2024-04-30 03860908 2023-04-30 03860908 2022-05-01 2023-04-30 03860908 2023-04-30 03860908 2022-04-30 03860908 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-01 2024-04-30 03860908 core:LandBuildings core:LongLeaseholdAssets 2023-05-01 2024-04-30 03860908 core:MotorVehicles 2023-05-01 2024-04-30 03860908 bus:Director1 2023-05-01 2024-04-30 03860908 bus:Director2 2023-05-01 2024-04-30 03860908 bus:Director3 2023-05-01 2024-04-30 03860908 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-30 03860908 core:LandBuildings 2023-04-30 03860908 core:MotorVehicles 2023-04-30 03860908 core:LandBuildings 2024-04-30 03860908 core:MotorVehicles 2024-04-30 03860908 core:LandBuildings 2023-05-01 2024-04-30 03860908 core:WithinOneYear 2024-04-30 03860908 core:WithinOneYear 2023-04-30 03860908 core:AfterOneYear 2024-04-30 03860908 core:AfterOneYear 2023-04-30 03860908 core:ShareCapital 2024-04-30 03860908 core:ShareCapital 2023-04-30 03860908 core:RetainedEarningsAccumulatedLosses 2024-04-30 03860908 core:RetainedEarningsAccumulatedLosses 2023-04-30 03860908 core:LandBuildings 2023-04-30 03860908 core:MotorVehicles 2023-04-30 03860908 bus:Director1 2023-04-30 03860908 bus:Director1 2024-04-30 03860908 bus:Director2 2023-04-30 03860908 bus:Director2 2024-04-30 03860908 bus:Director3 2023-04-30 03860908 bus:Director3 2024-04-30 03860908 bus:Director1 2022-04-30 03860908 bus:Director1 2023-04-30 03860908 bus:Director2 2022-04-30 03860908 bus:Director2 2023-04-30 03860908 bus:Director3 2022-04-30 03860908 bus:Director3 2023-04-30 03860908 bus:Director1 2022-05-01 2023-04-30 03860908 bus:Director2 2022-05-01 2023-04-30 03860908 bus:Director3 2022-05-01 2023-04-30 03860908 bus:SmallEntities 2023-05-01 2024-04-30 03860908 bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 03860908 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 03860908 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03860908 bus:FullAccounts 2023-05-01 2024-04-30
COMPANY REGISTRATION NUMBER: 03860908
K & K Hire Limited
Filleted Unaudited Financial Statements
30 April 2024
K & K Hire Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
51,608
55,894
Current assets
Stocks
55,000
50,000
Debtors
7
738,179
665,099
Cash at bank and in hand
1,016,614
955,193
------------
------------
1,809,793
1,670,292
Creditors: amounts falling due within one year
8
1,813,746
1,668,095
------------
------------
Net current (liabilities)/assets
( 3,953)
2,197
--------
--------
Total assets less current liabilities
47,655
58,091
Creditors: amounts falling due after more than one year
9
11,621
22,169
Provisions
Taxation including deferred tax
5,996
6,256
--------
--------
Net assets
30,038
29,666
--------
--------
Capital and reserves
Called up share capital
433
433
Profit and loss account
29,605
29,233
--------
--------
Shareholders funds
30,038
29,666
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Directors' responsibilities:
- 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
K & K Hire Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 21 January 2025 , and are signed on behalf of the board by:
K May Esq
Director
Company registration number: 03860908
K & K Hire Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is TML House, 1a The Anchorage, Gosport, Hampshire, PO12 1LY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
No significant judgements have been made by the director in preparing these financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Leasehold property
-
10% reducing balance
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Property improvements
-
5% straight line
Motor
-
20% reducing balance
Equipment
-
15% reducing balance
Hackney carriage plates
-
10% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Staff
The average number of persons employed by the company during the year amounted to 115 (2023: 121 ).
5. Intangible assets
Lease
£
Cost
At 1 May 2023 and 30 April 2024
2,240
-------
Amortisation
At 1 May 2023 and 30 April 2024
2,240
-------
Carrying amount
At 30 April 2024
-------
At 30 April 2023
-------
6. Tangible assets
Leasehold property
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 May 2023
15,690
69,229
39,972
124,891
Additions
7,355
7,355
Disposals
( 6,103)
( 6,103)
--------
--------
--------
---------
At 30 April 2024
15,690
69,229
41,224
126,143
--------
--------
--------
---------
Depreciation
At 1 May 2023
5,492
45,173
18,332
68,997
Charge for the year
784
4,811
4,050
9,645
Disposals
( 4,107)
( 4,107)
--------
--------
--------
---------
At 30 April 2024
6,276
49,984
18,275
74,535
--------
--------
--------
---------
Carrying amount
At 30 April 2024
9,414
19,245
22,949
51,608
--------
--------
--------
---------
At 30 April 2023
10,198
24,056
21,640
55,894
--------
--------
--------
---------
7. Debtors
2024
2023
£
£
Trade debtors
98,094
270,996
Other debtors
640,085
394,103
---------
---------
738,179
665,099
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
9,973
9,398
Trade creditors
188,231
136,985
Corporation tax
54,266
132,450
Social security and other taxes
314,944
309,010
Other creditors
1,246,332
1,080,252
------------
------------
1,813,746
1,668,095
------------
------------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
11,621
22,169
--------
--------
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
K May Esq
( 156,952)
( 1,509)
( 158,461)
D P May Esq
( 31,770)
( 8,534)
( 40,304)
A May Esq
( 31,770)
( 8,534)
( 40,304)
---------
--------
---------
( 220,492)
( 18,577)
( 239,069)
---------
--------
---------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
K May Esq
( 196,920)
39,968
( 156,952)
D P May Esq
( 23,750)
( 8,020)
( 31,770)
A May Esq
( 23,750)
( 8,020)
( 31,770)
---------
--------
---------
( 244,420)
23,928
( 220,492)
---------
--------
---------