3 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 01522837 2023-10-01 2025-03-31 01522837 2025-03-31 01522837 2023-09-30 01522837 2022-10-01 2023-09-30 01522837 2023-09-30 01522837 2022-09-30 01522837 core:PlantMachinery 2023-10-01 2025-03-31 01522837 bus:OrdinaryShareClass1 2023-10-01 2025-03-31 01522837 core:PlantMachinery 2023-09-30 01522837 core:WithinOneYear 2025-03-31 01522837 core:WithinOneYear 2023-09-30 01522837 core:ShareCapital 2025-03-31 01522837 core:ShareCapital 2023-09-30 01522837 core:RetainedEarningsAccumulatedLosses 2025-03-31 01522837 core:RetainedEarningsAccumulatedLosses 2023-09-30 01522837 bus:Director2 2023-10-01 2025-03-31 01522837 bus:SmallEntities 2023-10-01 2025-03-31 01522837 bus:AuditExemptWithAccountantsReport 2023-10-01 2025-03-31 01522837 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2025-03-31 01522837 bus:PrivateLimitedCompanyLtd 2023-10-01 2025-03-31 01522837 bus:FullAccounts 2023-10-01 2025-03-31 01522837 bus:OrdinaryShareClass1 2025-03-31 01522837 bus:OrdinaryShareClass1 2023-09-30 01522837 core:OfficeEquipment 2023-10-01 2025-03-31 01522837 core:OfficeEquipment 2023-09-30
COMPANY REGISTRATION NUMBER: 01522837
M R King and Sons (Lowestoft) Limited
Unaudited financial statements
For the year ended
31 March 2025
M R King and Sons (Lowestoft) Limited
Statement of financial position
31 March 2025
31 Mar 25
30 Sep 23
Note
£
£
£
Current assets
Stocks
66,310
Debtors
6
1,171
80,849
Cash at bank and in hand
18,456
7,222
-------
---------
19,627
154,381
Creditors: Amounts falling due within one year
7
( 82,737)
( 151,306)
-------
---------
Net current (liabilities)/assets
( 63,110)
3,075
-------
------
Total assets less current liabilities
( 63,110)
3,075
-------
------
Net (liabilities)/assets
( 63,110)
3,075
-------
------
Capital and reserves
Called up share capital
8
650,000
650,000
Profit and loss account
( 713,110)
( 646,925)
---------
---------
Shareholders (deficit)/funds
( 63,110)
3,075
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the period ending 31 March 2025 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 financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 17 July 2025 , and are signed on behalf of the board by:
Mr J King
Director
Company registration number: 01522837
M R King and Sons (Lowestoft) Limited
Notes to the financial statements
Period from 1 October 2023 to 31 March 2025
1. General information
The company is a private company limited by shares, registered in England. The address of both the registered office and trading address is The Wherry, Quay Street, Halesworth, Suffolk, IP19 8ET.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The company ceased trade on 31 March 2025 and so the accounts have been prepared on a break up basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Exceptional items
Exceptional items are disclosed separately in the financial statements in order to provide further understanding of the financial performance of the entity. They are material items of income or expense that have been shown separately because of their nature or amount.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
15% straight line
Office equipment
-
15% straight line
Impairment of fixed assets
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 .
Stocks
Stock is valued at the lower of cost and net realisable value. The cost of parts stock is determined on an average cost basis. The cost of all other stock is determined by its actual cost. Net realisable value is based on estimated selling price, less any further costs ofrealisation.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Particulars of employees
The average number of employees during the period was 3 (2023: 4 ).
5. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 October 2023
10,270
8,260
18,530
Disposals
( 10,270)
( 8,260)
( 18,530)
-------
------
-------
At 31 March 2025
-------
------
-------
Depreciation
At 1 October 2023
10,270
8,260
18,530
Disposals
( 10,270)
( 8,260)
( 18,530)
-------
------
-------
At 31 March 2025
-------
------
-------
Carrying amount
At 31 March 2025
-------
------
-------
At 30 September 2023
-------
------
-------
6. Debtors
31 Mar 25
30 Sep 23
£
£
Trade debtors
2,841
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,171
65,495
Other debtors
12,513
------
-------
1,171
80,849
------
-------
7. Creditors: Amounts falling due within one year
31 Mar 25
30 Sep 23
£
£
Trade creditors
250
834
Amounts owed to group undertakings and undertakings in which the company has a participating interest
142,000
Social security and other taxes
6,948
3,163
Other creditors
75,539
5,309
-------
---------
82,737
151,306
-------
---------
8. Called up share capital
Issued, called up and fully paid
31 Mar 25
30 Sep 23
No.
£
No.
£
Ordinary shares of £ 1 each
650,000
650,000
650,000
650,000
---------
---------
---------
---------