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K.w.f (Gb) Limited

Unaudited Financial Statements for the Year Ended 31 May 2024






K.w.f (Gb) Limited (Registered number: 07562662)






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


K.w.f (Gb) Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Mrs D Wong





REGISTERED OFFICE: 48 - 52 Penny Lane
Mossley Hill
Liverpool
Merseyside
L18 1DG





REGISTERED NUMBER: 07562662 (England and Wales)





ACCOUNTANTS: Matthews Sutton & Co Ltd
Chartered Certified Accountants
48 - 52 Penny Lane
Mossley Hill
Liverpool
Merseyside
L18 1DG

K.w.f (Gb) Limited (Registered number: 07562662)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 311,819 324,623

CURRENT ASSETS
Stocks 51,153 89,617
Debtors 5 64,427 65,378
Cash at bank 444,478 349,405
560,058 504,400
CREDITORS
Amounts falling due within one year 6 402,500 363,268
NET CURRENT ASSETS 157,558 141,132
TOTAL ASSETS LESS CURRENT
LIABILITIES

469,377

465,755

CREDITORS
Amounts falling due after more than one
year

7

(72,310

)

(97,511

)

PROVISIONS FOR LIABILITIES (5,359 ) (6,508 )
NET ASSETS 391,708 361,736

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 8 391,698 361,726
SHAREHOLDERS' FUNDS 391,708 361,736

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 her 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.

K.w.f (Gb) Limited (Registered number: 07562662)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 October 2024 and were signed by:





Mrs D Wong - Director


K.w.f (Gb) Limited (Registered number: 07562662)

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

1. STATUTORY INFORMATION

K.w.f (Gb) 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.
Land and buildings - 2% straight line
Plant and machinery etc - 25% on reducing balance and 15% 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.

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 6 (2023 - 6 ) .

K.w.f (Gb) Limited (Registered number: 07562662)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 337,638 143,815 481,453
Additions - 1,023 1,023
At 31 May 2024 337,638 144,838 482,476
DEPRECIATION
At 1 June 2023 47,269 109,561 156,830
Charge for year 6,753 7,074 13,827
At 31 May 2024 54,022 116,635 170,657
NET BOOK VALUE
At 31 May 2024 283,616 28,203 311,819
At 31 May 2023 290,369 34,254 324,623

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 62,852 62,852
Other debtors 1,575 2,526
64,427 65,378

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 12,200 14,604
Trade creditors 144,164 98,213
Taxation and social security 14,070 20,026
Other creditors 232,066 230,425
402,500 363,268

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 72,310 97,511

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 23,509 39,095

K.w.f (Gb) Limited (Registered number: 07562662)

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

8. RESERVES
Retained
earnings
£   

At 1 June 2023 361,726
Profit for the year 29,972
At 31 May 2024 391,698