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KINGSMEAD DESIGN LTD

Registered Number
06862927
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

KINGSMEAD DESIGN LTD
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

A J Butler
I J Butler

Registered Address

Kingsmead House Church Hill
Washingborough
Lincoln
LN4 1EH

Registered Number

06862927 (England and Wales)
KINGSMEAD DESIGN LTD
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,5401,924
1,5401,924
Current assets
Stocks45,0002,500
Debtors59,40218,030
Cash at bank and on hand1,696243
16,09820,773
Creditors amounts falling due within one year6(9,429)(20,894)
Net current assets (liabilities)6,669(121)
Total assets less current liabilities8,2091,803
Provisions for liabilities7(293)(366)
Net assets7,9161,437
Capital and reserves
Called up share capital100100
Profit and loss account7,8161,337
Shareholders' funds7,9161,437
The financial statements were approved and authorised for issue by the Board of Directors on 3 February 2025, and are signed on its behalf by:
I J Butler
Director
Registered Company No. 06862927
KINGSMEAD DESIGN LTD
Notes to the Financial Statements
for the year ended 30 June 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.
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment20
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 July 2315,52715,527
At 30 June 2415,52715,527
Depreciation and impairment
At 01 July 2313,60313,603
Charge for year384384
At 30 June 2413,98713,987
Net book value
At 30 June 241,5401,540
At 30 June 231,9241,924
4.Stocks

2024

2023

££
Work in progress5,0002,500
Total5,0002,500
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables5,8565,856
Other debtors2,03710,510
Prepayments and accrued income1,5091,664
Total9,40218,030
6.Creditors: amounts due within one year

2024

2023

££
Taxation and social security6,51910,111
Other creditors7608,633
Accrued liabilities and deferred income2,1502,150
Total9,42920,894
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.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)293366
Total293366