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REGISTERED NUMBER: 06013314 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 May 2024

for

KP Glass Fibre and Plastering Ltd

KP Glass Fibre and Plastering Ltd (Registered number: 06013314)






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


KP Glass Fibre and Plastering Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mr D R Southey
Mr J A Southey





SECRETARY: Mr D R Southey





REGISTERED OFFICE: 5 Church Street
Framlingham
Woodbridge
Suffolk
IP13 9BQ





REGISTERED NUMBER: 06013314 (England and Wales)





ACCOUNTANTS: Turner & Ellerby
Chartered Certified Accountants
5 Church Street
Framlingham
Woodbridge
Suffolk
IP13 9BQ

KP Glass Fibre and Plastering Ltd (Registered number: 06013314)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,150 22,863

CURRENT ASSETS
Debtors 5 14,543 23,386
Cash at bank 34,906 7,273
49,449 30,659
CREDITORS
Amounts falling due within one year 6 44,908 31,848
NET CURRENT ASSETS/(LIABILITIES) 4,541 (1,189 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,691

21,674

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 21,688 21,671
SHAREHOLDERS' FUNDS 21,691 21,674

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 directors acknowledge their 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.

KP Glass Fibre and Plastering Ltd (Registered number: 06013314)

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 Board of Directors and authorised for issue on 12 February 2025 and were signed on its behalf by:




Mr D R Southey - Director



Mr J A Southey - Director


KP Glass Fibre and Plastering Ltd (Registered number: 06013314)

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

1. STATUTORY INFORMATION

KP Glass Fibre and Plastering Ltd 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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

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 2 (2023 - 2 ) .

KP Glass Fibre and Plastering Ltd (Registered number: 06013314)

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

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023
and 31 May 2024 2,616 42,044 458 45,118
DEPRECIATION
At 1 June 2023 644 21,352 259 22,255
Charge for year 493 5,173 47 5,713
At 31 May 2024 1,137 26,525 306 27,968
NET BOOK VALUE
At 31 May 2024 1,479 15,519 152 17,150
At 31 May 2023 1,972 20,692 199 22,863

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,543 13,652
Other debtors - 8,000
VAT - 1,734
14,543 23,386

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 7,599 10,850
Trade creditors 8,113 10,066
Tax 20,400 8,410
Social security and other taxes (5,636 ) (6,957 )
VAT 4,889 -
Directors' current accounts 8,343 8,279
Accrued expenses 1,200 1,200
44,908 31,848