Company Registration No. NI669955 (Northern Ireland)
KANN O&M LTD
Unaudited accounts
for the year ended 30 June 2024
KANN O&M LTD
Statement of financial position
as at 30 June 2024
Tangible assets
26,547
30,432
Cash at bank and in hand
8,648
6,383
Creditors: amounts falling due within one year
(42,268)
(41,980)
Net current liabilities
(33,504)
(31,724)
Total assets less current liabilities
(6,957)
(1,292)
Creditors: amounts falling due after more than one year
(11,655)
(13,598)
Net liabilities
(18,612)
(14,890)
Called up share capital
100
100
Profit and loss account
(18,712)
(14,990)
Shareholders' funds
(18,612)
(14,890)
For the year ending 30 June 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 February 2025 and were signed on its behalf by
Samuel Knox
Director
Company Registration No. NI669955
KANN O&M LTD
Notes to the Accounts
for the year ended 30 June 2024
KANN O&M LTD is a private company, limited by shares, registered in Northern Ireland, registration number NI669955. The registered office is 10a Buckna Road, Broughshane, Ballymena, BT42 4NJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The director believes that the company Kann O&M Ltd has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in preparation of its financial statements.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and revenue can be measured reliably. Revenue from a contract to provide engineering services is measured as the fair value of any consideration received or receivable, excluding discounts, value added taxes and other sales taxes, and is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% Straight Line
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
KANN O&M LTD
Notes to the Accounts
for the year ended 30 June 2024
4
Tangible fixed assets
Plant & machinery
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Other creditors
40,581
40,580
7
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
11,655
13,598
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Transactions with related parties
Included in creditors is £38,638 (2023: £36,638) of amounts due to connected companies.
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).