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REGISTERED NUMBER: 01779797 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

K I M DEVELOPMENTS LIMITED

K I M DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01779797)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


K I M DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: D Carrington



REGISTERED OFFICE: Eagle House
28 Billing Road
Northampton
Northamptonshire
NN1 5AJ



REGISTERED NUMBER: 01779797 (England and Wales)



ACCOUNTANTS: Shaw Gibbs Limited
Eagle House
28 Billing Road
Northampton
NN1 5AJ



BANKERS: Barclays Commercial
Ashton House
497 Silbury Boulevard
Milton Keynes
MK9 2ZU

K I M DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01779797)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 62,024 76,862

CURRENT ASSETS
Stocks 1,125 1,125
Debtors 5 187,527 185,254
Cash at bank and in hand 48 96,315
188,700 282,694
CREDITORS
Amounts falling due within one year 6 250,860 221,376
NET CURRENT (LIABILITIES)/ASSETS (62,160 ) 61,318
TOTAL ASSETS LESS CURRENT
LIABILITIES

(136

)

138,180

CREDITORS
Amounts falling due after more than one
year

7

(9,075

)

(13,181

)

PROVISIONS FOR LIABILITIES - (14,604 )
NET (LIABILITIES)/ASSETS (9,211 ) 110,395

CAPITAL AND RESERVES
Called up share capital 9 20,000 20,000
Retained earnings (29,211 ) 90,395
SHAREHOLDERS' FUNDS (9,211 ) 110,395

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

K I M DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01779797)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 2024


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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 February 2025 and were signed by:





D Carrington - Director


K I M DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01779797)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

K I M Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


The place of business is Lower farm, Warrington, Olney, Buckinghamshire.

2. ACCOUNTING POLICIES

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

Significant judgements and estimates
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company's accounting policies. The areas involving a higher degree of judgement or complexity , or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Leasehold Property Improvements - over the life of the lease
Plant and Machinery - 20% on reducing balance
Motor Vehicles - 20% on reducing balance
Equipment - 20% on reducing balance

Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Where parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items of property, plant and equipment.

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


K I M DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01779797)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company agrees to pay, for eligible employees, a defined contribution into the employee's own personal pension scheme. The pension charge represents contributions payable by the company for the year. The company's liability is limited to the amount of the contribution.

K I M DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01779797)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Leasehold
Property Plant and Motor
Improvements Machinery Vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 20,000 129,460 96,140 48,318 293,918
Additions - 641 - - 641
At 30 September 2024 20,000 130,101 96,140 48,318 294,559
DEPRECIATION
At 1 October 2023 20,000 96,273 66,692 34,091 217,056
Charge for year - 6,766 5,890 2,823 15,479
At 30 September 2024 20,000 103,039 72,582 36,914 232,535
NET BOOK VALUE
At 30 September 2024 - 27,062 23,558 11,404 62,024
At 30 September 2023 - 33,187 29,448 14,227 76,862

The net book value of tangible fixed assets includes £ 23,403 (2023 - £ 54,269 ) in respect of assets held under hire purchase contracts.

K I M DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01779797)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 167,462 136,339
Retentions 1,900 37,870
Provision for doubtful debts (46,300 ) (15,000 )
Amounts owed by group undertakings 25,000 -
Amounts recoverable on
contracts 6,000 6,000
Tax 7,599 -
Deferred tax asset 7,805 -
Prepayments and accrued income 18,061 20,045
187,527 185,254

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 28,373 -
Hire purchase contracts 4,106 16,516
Trade creditors 71,998 68,106
Tax - 7,599
Social security and other taxes 7,967 9,692
VAT 18,000 20,999
Other creditors 47,513 44,361
Directors' current accounts 35,000 10,868
Accruals and deferred income 37,903 43,235
250,860 221,376

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 9,075 13,181

K I M DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01779797)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 28,373 -
Hire purchase contracts 13,181 29,697
41,554 29,697

The company meets its day to day working capital requirements through an overdraft facility which, in common with all such facilities, is repayable on demand. The company is operating within its agreed facility and the directors expect it to be able to continue doing so for at least one year from the date on which they approved the financial statements.

The hire purchase contracts are secured on the assets to which they relate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
20,000 Ordinary Shares £1 20,000 20,000