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REGISTERED NUMBER: 12631217 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 June 2024

for

Kirklands And Equipment Supply Company
Limited

Kirklands And Equipment Supply Company
Limited (Registered number: 12631217)

Contents of the Financial Statements
for the Year Ended 29 June 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


Kirklands And Equipment Supply Company
Limited (Registered number: 12631217)

Balance Sheet
29 June 2024

2024 2023
Notes £ £
Fixed assets
Tangible assets 5 10,040 3,476
Investments 6 264 264
10,304 3,740

Current assets
Stocks 416,655 392,806
Debtors 7 411,760 386,034
Cash at bank and in hand 10,658 11,809
839,073 790,649
Creditors
Amounts falling due within one year 8 (773,315 ) (637,537 )
Net current assets 65,758 153,112
Total assets less current liabilities 76,062 156,852

Creditors
Amounts falling due after more than one
year

9

(33,334

)

(53,334

)

Provisions for liabilities - (869 )
Net assets 42,728 102,649

Kirklands And Equipment Supply Company
Limited (Registered number: 12631217)

Balance Sheet - continued
29 June 2024

2024 2023
Notes £ £
Capital and reserves
Called up share capital 1 1
Retained earnings 42,727 102,648
42,728 102,649

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:





Mr A C W Knights - Director


Kirklands And Equipment Supply Company
Limited (Registered number: 12631217)

Notes to the Financial Statements
for the Year Ended 29 June 2024


1. Statutory information

Kirklands And Equipment Supply Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12631217

Registered office: Kirklands House
Main Cross Road
Great Yarmouth
Norfolk
NR30 3NZ

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recongnised when the significant risks ad rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Kirklands And Equipment Supply Company
Limited (Registered number: 12631217)

Notes to the Financial Statements - continued
for the Year Ended 29 June 2024


3. Accounting policies - continued

Tangible fixed assets
Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Long leasehold property - 10% straight line
Fixtures and fittings - 20% straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items. Net realisable value is calculated at the lower of cost or selling price less cost to complete.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.


Kirklands And Equipment Supply Company
Limited (Registered number: 12631217)

Notes to the Financial Statements - continued
for the Year Ended 29 June 2024


3. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recongnised in profit and loss.

4. Employees and directors

The average number of employees during the year was 19 (2023 - 20 ) .

Kirklands And Equipment Supply Company
Limited (Registered number: 12631217)

Notes to the Financial Statements - continued
for the Year Ended 29 June 2024


5. Tangible fixed assets
Fixtures
Long Plant and and
leasehold machinery fittings Totals
£ £ £ £
Cost
At 30 June 2023 3,460 - 906 4,366
Additions - 7,837 - 7,837
At 29 June 2024 3,460 7,837 906 12,203
Depreciation
At 30 June 2023 663 - 227 890
Charge for year 346 746 181 1,273
At 29 June 2024 1,009 746 408 2,163
Net book value
At 29 June 2024 2,451 7,091 498 10,040
At 29 June 2023 2,797 - 679 3,476

6. Fixed asset investments
Other
investments
£
Cost
At 30 June 2023
and 29 June 2024 264
Net book value
At 29 June 2024 264
At 29 June 2023 264

7. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 268,720 281,524
Amounts owed by group undertakings 93,578 97,250
Other debtors 49,462 7,260
411,760 386,034

Kirklands And Equipment Supply Company
Limited (Registered number: 12631217)

Notes to the Financial Statements - continued
for the Year Ended 29 June 2024


8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 60,003 43,907
Trade creditors 295,601 225,153
Taxation and social security 93,926 57,846
Other creditors 323,785 310,631
773,315 637,537

Included in other creditors is a loan which is secured by a fixed and floating charge over the assets of the company.

9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 33,334 53,334

Included in other creditors is a loan which is secured by a fixed and floating charge over the assets of the company.

10. Related party disclosures

The company has taken advantage of the exemption conferred by FRS 102 from disclosing transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.