Kirk and Bills Ltd 09838735 false 2023-11-01 2024-10-31 2024-10-31 The principal activity of the company is Joinery installation Digita Accounts Production Advanced 6.30.9574.0 true 09838735 2023-11-01 2024-10-31 09838735 2024-10-31 09838735 core:CurrentFinancialInstruments 2024-10-31 09838735 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-31 09838735 core:Non-currentFinancialInstruments 2024-10-31 09838735 core:Non-currentFinancialInstruments core:AfterOneYear 2024-10-31 09838735 core:MotorVehicles 2024-10-31 09838735 core:OtherPropertyPlantEquipment 2024-10-31 09838735 bus:SmallEntities 2023-11-01 2024-10-31 09838735 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 09838735 bus:FilletedAccounts 2023-11-01 2024-10-31 09838735 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 09838735 bus:RegisteredOffice 2023-11-01 2024-10-31 09838735 bus:Director1 2023-11-01 2024-10-31 09838735 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 09838735 bus:Agent1 2023-11-01 2024-10-31 09838735 core:MotorVehicles 2023-11-01 2024-10-31 09838735 core:OtherPropertyPlantEquipment 2023-11-01 2024-10-31 09838735 countries:AllCountries 2023-11-01 2024-10-31 09838735 2023-10-31 09838735 core:MotorVehicles 2023-10-31 09838735 core:OtherPropertyPlantEquipment 2023-10-31 09838735 2022-11-01 2023-10-31 09838735 2023-10-31 09838735 core:CurrentFinancialInstruments 2023-10-31 09838735 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 09838735 core:Non-currentFinancialInstruments 2023-10-31 09838735 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 09838735 core:MotorVehicles 2023-10-31 09838735 core:OtherPropertyPlantEquipment 2023-10-31 iso4217:GBP xbrli:pure

Registration number: 09838735

Kirk and Bills Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Kirk and Bills Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Kirk and Bills Ltd

Company Information

Director

Mr Steve Button

Registered office

74 Farndon Road
Newark
Notts
NG24 4SE

Accountants

AIMS Accountants Fernwood Business Centre
Newark
Notts
NG24 3JP

 

Kirk and Bills Ltd

(Registration number: 09838735)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

60,047

9,551

Current assets

 

Stocks

5

20,230

45,103

Debtors

6

428,049

79,528

Cash at bank and in hand

 

103,805

26,946

 

552,084

151,577

Creditors: Amounts falling due within one year

7

(412,442)

(136,709)

Net current assets

 

139,642

14,868

Total assets less current liabilities

 

199,689

24,419

Creditors: Amounts falling due after more than one year

7

(6,637)

(11,151)

Net assets

 

193,052

13,268

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

192,952

13,168

Shareholders' funds

 

193,052

13,268

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 1 July 2025
 

.........................................
Mr Steve Button
Director

 

Kirk and Bills Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

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

The address of its registered office is:
74 Farndon Road
Newark
Notts
NG24 4SE

The thresholds were not exceeded in the most recent financial statements.

These financial statements were authorised for issue by the director on 1 July 2025.

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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' 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.

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 sales/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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Kirk and Bills Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Tangible assets

Tangible assets are stated in the balance sheet 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:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Kirk and Bills Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

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 profit and loss account 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 16 (2023 - 13).

 

Kirk and Bills Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2023

10,400

31,203

41,603

Additions

73,025

-

73,025

Disposals

(10,400)

-

(10,400)

At 31 October 2024

73,025

31,203

104,228

Depreciation

At 1 November 2023

7,446

24,606

32,052

Charge for the year

18,256

1,319

19,575

Eliminated on disposal

(7,446)

-

(7,446)

At 31 October 2024

18,256

25,925

44,181

Carrying amount

At 31 October 2024

54,769

5,278

60,047

At 31 October 2023

2,954

6,597

9,551

5

Stocks

2024
£

2023
£

Work in progress

18,480

42,103

Other inventories

1,750

3,000

20,230

45,103

6

Debtors

Current

2024
£

2023
£

Trade debtors

385,292

54,441

Prepayments

1,575

875

Other debtors

41,182

24,212

 

428,049

79,528

7

Creditors

Creditors: amounts falling due within one year

 

Kirk and Bills Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

4,950

5,387

Trade creditors

 

259,217

69,241

Taxation and social security

 

130,031

45,518

Accruals and deferred income

 

1,472

1,724

Other creditors

 

16,772

14,839

 

412,442

136,709

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

6,637

11,151

8

Share capital

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

6,637

11,151

Current loans and borrowings

2024
£

2023
£

Other borrowings

4,950

5,387

10

Dividends

2024

2023

£

£

Final dividend of £1.00 (2023 - £2.00) per ordinary share

-

-

Interim dividend of £3.00 (2023 - £4.00) per ordinary share

63,100

49,830

63,100

49,830

 

 

11

Transition to FRS 102

Balance Sheet at 1 November 2022
 

 

Kirk and Bills Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-

 

Kirk and Bills Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Balance Sheet at 31 October 2023
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-