| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE PERIOD 14 JULY 2023 TO 31 AUGUST 2023 |
| FOR |
| KIMMY'S AUTOS LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE PERIOD 14 JULY 2023 TO 31 AUGUST 2023 |
| FOR |
| KIMMY'S AUTOS LIMITED |
| KIMMY'S AUTOS LIMITED (REGISTERED NUMBER: 15003510) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 14 JULY 2023 TO 31 AUGUST 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| KIMMY'S AUTOS LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 14 JULY 2023 TO 31 AUGUST 2023 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants, Tax Consultants |
| & Statutory Auditors |
| 27-29 Old Market |
| Wisbech |
| Cambridgeshire |
| PE13 1NE |
| KIMMY'S AUTOS LIMITED (REGISTERED NUMBER: 15003510) |
| BALANCE SHEET |
| 31 AUGUST 2023 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) |
| ( |
) |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| KIMMY'S AUTOS LIMITED (REGISTERED NUMBER: 15003510) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 14 JULY 2023 TO 31 AUGUST 2023 |
| 1. | STATUTORY INFORMATION |
| Kimmy's Autos Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| At the balance sheet date the company had net liabilities of £4,237 by virtue of its total liabilities exceeding its total assets. The directors are confident that the going concern basis for the preparation of the financial statements is appropriate, and have confirmed their continuing support for the company in writing. |
| Material uncertainty relating to going concern |
| While the directors are confident that the going concern basis for the preparation of the financial statements is appropriate they also accept that the company's ability to continue is reliant on the support of Stuart Holdings Limited, the parent company. |
| The main trading companies within the group operate within the construction industry. Based on the most relevant information to hand at the time of approving these financial statements it was considered that there are enough economic uncertainties facing these businesses that this may cast significant doubt on Stuart Holdings Limited being able to support the company, and hence continue as a going concern. Therefore, this may mean that the company is unable to realise its assets and discharge its liabilities in the normal course of business. |
| The management team are experienced in navigating the industry specific challenges that are being faced and are optimistic that they can manage costs and develop the pipeline of upcoming contracts within the group moving forward. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
| KIMMY'S AUTOS LIMITED (REGISTERED NUMBER: 15003510) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 14 JULY 2023 TO 31 AUGUST 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 period 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| Additions |
| At 31 August 2023 |
| NET BOOK VALUE |
| At 31 August 2023 |
| 5. | STOCKS |
| £ |
| Stocks |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Amounts owed to group undertakings |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| £ |
| Parent company loan | 57,771 |
| The above loan is secured by a debenture in favour of Stuart Holdings Limited which contains fixed and floating charges over the assets of the company. |
| KIMMY'S AUTOS LIMITED (REGISTERED NUMBER: 15003510) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 14 JULY 2023 TO 31 AUGUST 2023 |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the period ended 31 August 2023: |
| £ |
| Balance outstanding at start of period |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - |
| Amounts waived | - |
| Balance outstanding at end of period |
| During the period, interest of 2.25% per annum was charged on overdrawn director's loan account balances in excess of £10,000. The loan is repayable on demand. |
| 11. | RELATED PARTY DISCLOSURES |
| During the period, parent company Stuart Holdings Limited, funded the pre-trading expenses for the company as no bank account was in existence. The loan amount outstanding at the period end was £57,771. This loan was interest free and repayable on demand. |
| 12. | ULTIMATE PARENT COMPANY |
| Stuart Holdings Limited (incorporated in England and Wales) is regarded by the directors as being |
| the company's ultimate parent company. |
| The registered office of Stuart Holdings Limited is 27-29 Old Market, Wisbech, Cambridgeshire, England, PE13 1NE. Copies of group accounts can be obtained from Companies House. |
| 13. | LEASE AGREEMENT |
| A lease agreement for the property which Kimmy's Autos Limited trades from has been signed in SDM Fabrication Limited's name, a fellow group company. The lease was signed in August 2023 for a 10 year term with a break clause after 5 years. |