Registered number
08466506
Kynaston Contract Services Ltd
Filleted Accounts
31 March 2024
Kynaston Contract Services Ltd
Registered number: 08466506
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 755,717 1,104,245
Current assets
Stocks and WIP 504,173 889,439
Debtors 4 1,538,733 2,297,642
Cash at bank and in hand 404,084 1,006,717
2,446,990 4,193,798
Creditors: amounts falling due within one year 5 (1,083,141) (2,711,749)
Net current assets 1,363,849 1,482,049
Total assets less current liabilities 2,119,566 2,586,294
Creditors: amounts falling due after more than one year 6 (383,214) (487,467)
Net assets 1,736,352 2,098,827
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,736,252 2,098,727
Shareholder's funds 1,736,352 2,098,827
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ian Kynaston
Director
Approved by the board on 14 March 2025
Kynaston Contract Services Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 12
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 918,021 384,332 154,036 1,456,389
Additions 169,342 25,129 109,500 303,971
Surplus on revaluation (368,021) - - (368,021)
Disposals - (329,946) (259,411) (589,357)
At 31 March 2024 719,342 79,515 4,125 802,982
Depreciation
At 1 April 2023 - 222,400 129,744 352,144
Charge for the year - 40,484 458 40,942
On disposals - (216,077) (129,744) (345,821)
At 31 March 2024 - 46,807 458 47,265
Net book value
At 31 March 2024 719,342 32,708 3,667 755,717
At 31 March 2023 918,021 161,932 24,292 1,104,245
4 Debtors 2024 2023
£ £
Trade debtors 1,271,167 2,138,134
Amounts owed by group undertakings and undertakings in which the company has a participating interest 121,925 121,925
Other debtors 145,641 37,583
1,538,733 2,297,642
5 Creditors: amounts falling due within one year 2024 2023
Bank loans and overdrafts 146,703 149,746
Obligations under finance lease and hire purchase contracts 1,081 5,165
Trade creditors 630,468 2,152,960
Amounts owed to group undertakings and undertakings in which the company has a participating interest 143,117 54,723
Taxation and social security costs 157,467 288,548
Other creditors 4,305 60,607
1,083,141 2,711,749
6 Creditors: amounts falling due after one year 2024 2023
Bank loans 383,214 487,467
7 Other information
Kynaston Contract Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
C/O P1 Accounting Services Ltd
Unit C11 Tweedale Industrial Estate
Madeley, Telford
Shropshire
TF7 4JR
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