Registered number
10122337
K & S GLAZING LTD
Unaudited Filleted Accounts
23 March 2024
TEMPLETONS (HOLDINGS) LIMITED
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
K & S GLAZING LTD
Registered number: 10122337
Balance Sheet
as at 23 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 27,996 37,328
Current assets
Stocks 18,440 16,190
Debtors 4 42,867 69,979
Cash at bank and in hand 61 8,894
61,368 95,063
Creditors: amounts falling due within one year 5 (15,930) (19,800)
Net current assets 45,438 75,263
Total assets less current liabilities 73,434 112,591
Creditors: amounts falling due after more than one year 6 (51,777) (65,160)
Net assets 21,657 47,431
Capital and reserves
Called up share capital 100 100
Profit and loss account 21,557 47,331
Shareholder's funds 21,657 47,431
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 her 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.
Korosh Mohammadi
Director
Approved by the board on 20 March 2025
K & S GLAZING LTD
Notes to the Accounts
for the period from 1 April 2023 to 23 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:
Vehicles 25% reducing balance
Fixtures, fittings, tools and equipment 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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
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 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 350 66,278 66,628
At 23 March 2024 350 66,278 66,628
Depreciation
At 1 April 2023 303 28,997 29,300
Charge for the period 12 9,320 9,332
At 23 March 2024 315 38,317 38,632
Net book value
At 23 March 2024 35 27,961 27,996
At 31 March 2023 47 37,281 37,328
4 Debtors 2024 2023
£ £
Trade debtors 42,867 69,041
Other debtors - 938
42,867 69,979
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 4,046 2,501
Taxation and social security costs 4,043 10,091
Other creditors 7,841 7,208
15,930 19,800
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 15,139 15,139
Obligations under finance lease and hire purchase contracts 36,638 50,021
51,777 65,160
7 Other information
K & S GLAZING LTD is a private company limited by shares and incorporated in England. Its registered office is:
309 Hoe Street
Walthamstow
London
E17 9BG
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