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KMG DESIGN & MANAGEMENT LTD

Registered Number
07049473
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

KMG DESIGN & MANAGEMENT LTD
Company Information
for the year from 1 November 2023 to 31 October 2024

Directors

GRUMMITT, Dean
GRUMMITT, Kerrie Marie

Registered Address

13 Knight Street
Pinchbeck
Spalding
PE11 3RA

Registered Number

07049473 (England and Wales)
KMG DESIGN & MANAGEMENT LTD
Balance Sheet as at
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets314,062250
14,062250
Current assets
Debtors6,52330,784
Cash at bank and on hand24,18928,740
30,71259,524
Creditors amounts falling due within one year4(19,875)(28,507)
Net current assets (liabilities)10,83731,017
Total assets less current liabilities24,89931,267
Net assets24,89931,267
Capital and reserves
Called up share capital22
Profit and loss account24,89731,265
Shareholders' funds24,89931,267
The financial statements were approved and authorised for issue by the Board of Directors on 19 November 2024, and are signed on its behalf by:
GRUMMITT, Dean
Director
GRUMMITT, Kerrie Marie
Director

Registered Company No. 07049473
KMG DESIGN & MANAGEMENT LTD
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation

Straight line (years)
Plant and machinery4
Fixtures and fittings4
Vehicles4
Office Equipment4
2.Average number of employees

20242023
Average number of employees during the year23
3.Tangible fixed assets

Vehicles

Office Equipment

Total

£££
Cost or valuation
At 01 November 231,0004,4665,466
Additions18,750-18,750
At 31 October 2419,7504,46624,216
Depreciation and impairment
At 01 November 237504,4665,216
Charge for year4,938-4,938
At 31 October 245,6884,46610,154
Net book value
At 31 October 2414,062-14,062
At 31 October 23250-250
4.Creditors: amounts due within one year

2024

2023

££
Taxation and social security19,87528,507
Total19,87528,507
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.