Registered number
12946199
Kan Agency Limited
Filleted Accounts
31 October 2024
Kan Agency Limited
Registered number: 12946199
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 55,915 12,535
Current assets
Debtors 4 8,543 19,870
Cash at bank and in hand 112,041 145,473
120,584 165,343
Creditors: amounts falling due within one year 5 (8,947) (40,691)
Net current assets 111,637 124,652
Total assets less current liabilities 167,552 137,187
Creditors: amounts falling due after more than one year 6 (33,669) -
Net assets 133,883 137,187
Capital and reserves
Called up share capital 100 100
Profit and loss account 133,783 137,087
Shareholder's funds 133,883 137,187
The directors are 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 directors acknowledge their 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.
Mr James Kirby
Director
Approved by the board on 27 March 2025
Kan Agency Limited
Notes to the Accounts
for the year ended 31 October 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 over 5 years
Fixtures, fittings, tools and equipment over 3 years
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2023 26,339 876 27,215
Additions 2,275 57,222 59,497
At 31 October 2024 28,614 58,098 86,712
Depreciation
At 1 November 2023 14,461 219 14,680
Charge for the year 4,717 11,400 16,117
At 31 October 2024 19,178 11,619 30,797
Net book value
At 31 October 2024 9,436 46,479 55,915
At 31 October 2023 11,878 657 12,535
4 Debtors 2024 2023
£ £
Trade debtors 1,577 19,770
Other debtors 6,966 100
8,543 19,870
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 6,105 -
Taxation and social security costs 2,342 38,157
Other creditors 500 2,534
8,947 40,691
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 33,669 -
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr James Kirby
Loan fully repaid 22 February 2025. The loan is interest free with no fixed terms of repayment. (2,034) 9,900 (8,000) (134)
(2,034) 9,900 (8,000) (134)
8 Controlling party
The company is under the control of Mr James Kirby the director and shareholder.
9 Other information
Kan Agency Limited is a private company limited by shares and incorporated in England. Its registered office is:
17 Ropeway
Bishops Itchington
Southam
England
CV47 2ED
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