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KARNHEATH LIMITED

Registered Number
01382266
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

KARNHEATH LIMITED
Company Information
for the year from 1 October 2023 to 30 September 2024

Directors

STEPHENS, Alexis Clare
STEPHENS, Guy David
STEPHENS, Susan

Company Secretary

STEPHENS, Susan

Registered Address

4 Boyd Street
Shieldfield
Newcastle Upon Tyne
NE2 1AP

Registered Number

01382266 (England and Wales)
KARNHEATH LIMITED
Statement of Financial Position
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets362,92691,874
62,92691,874
Current assets
Debtors148,14928,313
Cash at bank and on hand822,354904,379
970,503932,692
Creditors amounts falling due within one year(1,284,186)(1,373,159)
Net current assets (liabilities)(313,683)(440,467)
Total assets less current liabilities(250,757)(348,593)
Net assets(250,757)(348,593)
Capital and reserves
Called up share capital5,0005,000
Profit and loss account(255,757)(353,593)
Shareholders' funds(250,757)(348,593)
The financial statements were approved and authorised for issue by the Board of Directors on 24 June 2025, and are signed on its behalf by:
STEPHENS, Susan
Director
Registered Company No. 01382266
KARNHEATH LIMITED
Notes to the Financial Statements
for the year ended 30 September 2024

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.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
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 profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Fixtures and fittings15
Vehicles25
Office Equipment15
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 balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year1414
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 October 23212,105
Additions435
Disposals(21,950)
At 30 September 24190,591
Depreciation and impairment
At 01 October 23120,231
Charge for year17,036
On disposals(9,603)
At 30 September 24127,665
Net book value
At 30 September 2462,926
At 30 September 2391,874