Registered number
09331091
KINGS OFFICE SUPPLIES LIMITED
Filleted Accounts
31 December 2024
KINGS OFFICE SUPPLIES LIMITED
Registered number: 09331091
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,876 2,585
Current assets
Debtors 4 139,101 147,832
Cash at bank and in hand 21,246 35,137
160,347 182,969
Creditors: amounts falling due within one year 5 (90,801) (97,086)
Net current assets 69,546 85,883
Total assets less current liabilities 72,422 88,468
Creditors: amounts falling due after more than one year 6 (4,311) (13,192)
Net assets 68,111 75,276
Capital and reserves
Called up share capital 5 5
Profit and loss account 68,106 75,271
Shareholders' funds 68,111 75,276
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs L M King
Director
Approved by the board on 1 August 2025
KINGS OFFICE SUPPLIES LIMITED
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2024 5,963 1,729 7,692
Additions 1,075 698 1,773
At 31 December 2024 7,038 2,427 9,465
Depreciation
At 1 January 2024 3,551 1,556 5,107
Charge for the year 1,169 313 1,482
At 31 December 2024 4,720 1,869 6,589
Net book value
At 31 December 2024 2,318 558 2,876
At 31 December 2023 2,412 173 2,585
4 Debtors 2024 2023
£ £
Trade debtors 67,165 74,807
Other debtors 71,936 73,025
139,101 147,832
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 8,800 8,800
Trade creditors 51,238 56,242
Taxation and social security costs 26,223 27,649
Other creditors 4,540 4,395
90,801 97,086
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 4,311 13,192
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mrs L M King
Directors Loan Account 28,645 24,370 (25,213) 27,802
Mr M King
Directors Loan Account 28,645 24,370 (25,213) 27,802
57,290 48,740 (50,426) 55,604
8 Controlling party
The company was under the control of the Company Officers throughout the period by virtue of them owning the entire issued share capital.
9 Other information
KINGS OFFICE SUPPLIES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Ivy Lodge
Twyford Road
Willington
Derby
DE65 6DE
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