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L & K CURWEN LIMITED

Registered Number
07076495
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2025

L & K CURWEN LIMITED
Company Information
for the year from 1 February 2024 to 31 January 2025

Directors

CURWEN, Kenneth Lee
CURWEN, Lawrence

Registered Address

Carleton House
136 Gray Street
Workington
CA14 2LU

Place of Business

Unit 6G

Buddle Road

Workington

Cumbria

CA14 3YD


Registered Number

07076495 (England and Wales)
L & K CURWEN LIMITED
Statement of Financial Position
31 January 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets3116,877122,402
116,877122,402
Current assets
Stocks429,60880,056
Debtors549,91812,336
Cash at bank and on hand37,81675,869
117,342168,261
Creditors amounts falling due within one year6(139,950)(120,267)
Net current assets (liabilities)(22,608)47,994
Total assets less current liabilities94,269170,396
Creditors amounts falling due after one year7(26,508)(47,505)
Provisions for liabilities9(30,972)(32,436)
Net assets36,78990,455
Capital and reserves
Called up share capital1,0001,000
Profit and loss account35,78989,455
Shareholders' funds36,78990,455
The financial statements were approved and authorised for issue by the Board of Directors on 17 April 2025, and are signed on its behalf by:
CURWEN, Kenneth Lee
Director
Registered Company No. 07076495
L & K CURWEN LIMITED
Notes to the Financial Statements
for the year ended 31 January 2025

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.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Turnover policy
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/or 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.
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 the Income Statement
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-10
Plant and machinery15-
Vehicles15-
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease
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). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20252024
Average number of employees during the year1916
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Total

££££
Cost or valuation
At 01 February 245,22529,199171,889206,313
Additions-1,00812,10013,108
At 31 January 255,22530,207183,989219,421
Depreciation and impairment
At 01 February 241,93019,88562,09683,911
Charge for year5231,49016,62018,633
At 31 January 252,45321,37578,716102,544
Net book value
At 31 January 252,7728,832105,273116,877
At 31 January 243,2959,314109,793122,402
4.Stocks

2025

2024

££
Raw materials and consumables5,0005,000
Work in progress24,60875,056
Total29,60880,056
5.Debtors: amounts due within one year

2025

2024

££
Trade debtors / trade receivables48,9189,325
Prepayments and accrued income1,0003,011
Total49,91812,336
6.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables34,46937,169
Bank borrowings and overdrafts9,50010,000
Taxation and social security59,75552,985
Finance lease and HP contracts12,25112,251
Other creditors9,2374,655
Accrued liabilities and deferred income14,7383,207
Total139,950120,267
The hire purchase liabilities of £12,251 (2024: £12,251) are secured on the assets to which they relate.
7.Creditors: amounts due after one year

2025

2024

££
Bank borrowings and overdrafts5,42214,167
Other creditors21,08633,338
Total26,50847,505
Other creditors include £21,086 (2023: £33,338) in respect of hire purchase liabilities which are secured on the assets to which they relate.
8.Obligations under finance leases

2025

2024

££
Finance lease and HP contracts21,08733,338
9.Provisions for liabilities

2025

2024

££
Net deferred tax liability (asset)30,97232,436
Total30,97232,436