2 K D FLOORING LTD 05569964 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is Flooring Digita Accounts Production Advanced 6.30.9574.0 true 05569964 2023-10-01 2024-09-30 05569964 2024-09-30 05569964 core:RetainedEarningsAccumulatedLosses 2024-09-30 05569964 core:ShareCapital 2024-09-30 05569964 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-09-30 05569964 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-09-30 05569964 core:CurrentFinancialInstruments 2024-09-30 05569964 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 05569964 core:Non-currentFinancialInstruments 2024-09-30 05569964 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 05569964 core:FurnitureFittings 2024-09-30 05569964 core:MotorVehicles 2024-09-30 05569964 bus:SmallEntities 2023-10-01 2024-09-30 05569964 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 05569964 bus:FullAccounts 2023-10-01 2024-09-30 05569964 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 05569964 bus:RegisteredOffice 2023-10-01 2024-09-30 05569964 bus:Director1 2023-10-01 2024-09-30 05569964 bus:Director2 2023-10-01 2024-09-30 05569964 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 05569964 bus:Agent1 2023-10-01 2024-09-30 05569964 core:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 05569964 core:ShareCapital 2023-10-01 2024-09-30 05569964 core:FurnitureFittings 2023-10-01 2024-09-30 05569964 core:MotorVehicles 2023-10-01 2024-09-30 05569964 core:ToolsEquipment 2023-10-01 2024-09-30 05569964 countries:England 2023-10-01 2024-09-30 05569964 2023-09-30 05569964 core:RetainedEarningsAccumulatedLosses 2023-09-30 05569964 core:ShareCapital 2023-09-30 05569964 core:FurnitureFittings 2023-09-30 05569964 core:MotorVehicles 2023-09-30 05569964 2022-10-01 2023-09-30 05569964 2023-09-30 05569964 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-09-30 05569964 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-09-30 05569964 core:CurrentFinancialInstruments 2023-09-30 05569964 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 05569964 core:Non-currentFinancialInstruments 2023-09-30 05569964 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 05569964 core:FurnitureFittings 2023-09-30 05569964 core:MotorVehicles 2023-09-30 05569964 core:RetainedEarningsAccumulatedLosses 2022-10-01 2023-09-30 05569964 core:ShareCapital 2022-10-01 2023-09-30 05569964 2022-09-30 05569964 core:RetainedEarningsAccumulatedLosses 2022-09-30 05569964 core:ShareCapital 2022-09-30 xbrli:pure iso4217:GBP

Registration number: 05569964

K D FLOORING LTD

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

K D FLOORING LTD

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Statement of Comprehensive Income

4

Statement of Financial Position

5 to 6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 13

Detailed Statement of Comprehensive Income

14 to 15

 

K D FLOORING LTD

Company Information

Directors

Mrs D Day

K J Day

Registered office

83 High Street
West Wickham
Kent
BR4 0LS

Accountants

Sherwoods
Chartered Certified Accountants83 High Street
West Wickham
Kent
BR4 0LS

 

K D FLOORING LTD

Directors' Report for the Year Ended 30 September 2024

The directors present their report and the financial statements for the year ended 30 September 2024.

Directors of the company

The directors who held office during the year were as follows:

Mrs D Day

K J Day

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 12 June 2025 and signed on its behalf by:
 


Mrs D Day
Director

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
K D FLOORING LTD
for the Year Ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of K D FLOORING LTD for the year ended 30 September 2024 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of K D FLOORING LTD, as a body, in accordance with the terms of our engagement letter dated 1 August 2024. Our work has been undertaken solely to prepare for your approval the accounts of K D FLOORING LTD and state those matters that we have agreed to state to the Board of Directors of K D FLOORING LTD, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than K D FLOORING LTD and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that K D FLOORING LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of K D FLOORING LTD. You consider that K D FLOORING LTD is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of K D FLOORING LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Sherwoods
Chartered Certified Accountants
83 High Street
West Wickham
Kent
BR4 0LS

12 June 2025

 

K D FLOORING LTD

Statement of Comprehensive Income for the Year Ended 30 September 2024

Note

2024
£

2023
£

Turnover

 

536,719

331,268

Cost of sales

 

(348,345)

(243,936)

Gross profit

 

188,374

87,332

Administrative expenses

 

(90,083)

(98,219)

Other operating income

 

3,810

-

Operating profit/(loss)

 

102,101

(10,887)

Interest payable and similar expenses

 

(3,705)

(2,302)

Profit/(loss) before tax

4

98,396

(13,189)

Profit/(loss) for the financial year

 

98,396

(13,189)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

K D FLOORING LTD

(Registration number: 05569964)
Statement of Financial Position as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

19,132

22,128

Current assets

 

Stocks

6

5,000

7,085

Debtors

7

114,947

26,955

Cash at bank and in hand

 

2,650

-

 

122,597

34,040

Creditors: Amounts falling due within one year

8

(48,408)

(50,600)

Net current assets/(liabilities)

 

74,189

(16,560)

Total assets less current liabilities

 

93,321

5,568

Creditors: Amounts falling due after more than one year

8

(43,705)

(54,348)

Net assets/(liabilities)

 

49,616

(48,780)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

49,516

(48,880)

Shareholders' funds/(deficit)

 

49,616

(48,780)

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 12 June 2025 and signed on its behalf by:
 

 

K D FLOORING LTD

(Registration number: 05569964)
Statement of Financial Position as at 30 September 2024 (continued)


Mrs D Day
Director


K J Day
Director

 

K D FLOORING LTD

Statement of Changes in Equity for the Year Ended 30 September 2024

Share capital
£

Profit and loss account
£

Total
£

At 1 October 2023

100

(48,880)

(48,780)

Profit for the year

-

98,396

98,396

At 30 September 2024

100

49,516

49,616

Share capital
£

Profit and loss account
£

Total
£

At 1 October 2022

100

(35,691)

(35,591)

Loss for the year

-

(13,189)

(13,189)

At 30 September 2023

100

(48,880)

(48,780)

 

K D FLOORING LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
83 High Street
West Wickham
Kent
BR4 0LS
England

Principal activity

The principal activity of the company is Flooring

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

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.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

K D FLOORING LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% on reducing balance

Tools and equipment

20% on reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

K D FLOORING LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

6,166

-

 

K D FLOORING LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

5

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

-

22,128

22,128

Additions

3,170

-

3,170

At 30 September 2024

3,170

22,128

25,298

Depreciation

Charge for the year

634

5,532

6,166

At 30 September 2024

634

5,532

6,166

Carrying amount

At 30 September 2024

2,536

16,596

19,132

At 30 September 2023

-

22,128

22,128

6

Stocks

2024
£

2023
£

Work in progress

5,000

7,085

7

Debtors

2024
£

2023
£

Trade debtors

112,880

19,287

Other debtors

2,067

7,668

114,947

26,955

 

K D FLOORING LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

35,324

42,485

Trade creditors

 

-

566

Taxation and social security

 

2,762

5,549

Accruals and deferred income

 

4,553

2,000

Other creditors

 

5,769

-

 

48,408

50,600

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

43,705

54,348

9

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

K D FLOORING LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

33,203

39,846

Hire purchase contracts

10,502

14,502

43,705

54,348

Current loans and borrowings

2024
£

2023
£

Bank borrowings

27,764

33,507

Bank overdrafts

-

1,414

Hire purchase contracts

7,560

7,564

35,324

42,485

 

K D FLOORING LTD

Detailed Statement of Comprehensive Income for the Year Ended 30 September 2024

2024
£

2023
£

Turnover

Sale of goods, UK

536,719

331,268

536,719

331,268

Cost of sales

Opening work in progress

7,085

8,302

Purchases

207,879

118,010

Closing work in progress

(5,000)

(7,085)

Subcontract cost

138,381

124,709

348,345

243,936

Gross profit

188,374

87,332

Gross profit (%)

35.1%

26.36%

Administrative expenses

Directors remuneration

41,006

41,536

Water rates

154

193

Rent

2,600

3,143

Light, heat and power

809

210

Licenses & Insurance

2,683

2,683

Use of home as office

2,600

-

Repairs and renewals

-

95

Telephone

3,548

3,901

Computer software and maintenance costs

1,866

1,416

Printing, postage and stationery

1,311

781

Charitable donations

20

-

Sundry expenses

1,407

203

Cleaning

380

-

Protective clothing

473

-

Motor expenses

11,527

12,866

Travel and subsistence

724

4,136

Staff entertaining

2,447

527

Accountancy fees

5,516

3,225

Legal and professional fees

-

710

Bookkeeping

70

-

Bad debts written off

1,920

23,020

Bank charges

2,856

2,408

Depreciation of fixtures and fittings (owned)

634

-

Depreciation of motor vehicles (owned)

5,532

-

(Profit)/loss on disposal of tangible fixed assets

-

(2,834)

90,083

98,219

 

K D FLOORING LTD

Detailed Statement of Comprehensive Income for the Year Ended 30 September 2024 (continued)

2024
£

2023
£

Other operating income

Miscellaneous other operating income

3,810

-

Operating profit/(loss)

102,101

(10,887)

Interest payable and similar expenses

3,705

2,302

Profit/(loss) before tax

98,396

(13,189)