Company registration number:
06448344
KENTON KARPETS LTD
UNAUDITED FILLETED FINANCIAL STATEMENTS
31 January 2025
KENTON KARPETS LTD
Company number:
06448344
CONTENTS
Statement of financial position
Notes to the financial statements
KENTON KARPETS LTD
Company number:
06448344
STATEMENT OF FINANCIAL POSITION
AS AT 31ST JANUARY 2025
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2025 |
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2024 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Intangible assets |
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6 |
- |
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- |
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Tangible assets |
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7 |
113,797 |
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101,634 |
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_______ |
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_______ |
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113,797 |
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101,634 |
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Current assets |
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Stocks |
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37,212 |
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37,981 |
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Debtors |
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8 |
10,392 |
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57,179 |
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Cash at bank and in hand |
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174,269 |
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103,465 |
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_______ |
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_______ |
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221,873 |
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198,625 |
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Creditors: amounts falling due |
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within one year |
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9 |
(
109,646) |
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(
95,739) |
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_______ |
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_______ |
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Net current assets |
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112,227 |
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102,886 |
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_______ |
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_______ |
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Total assets less current liabilities |
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226,024 |
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204,520 |
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Provisions for liabilities |
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(
23,376) |
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(
19,311) |
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_______ |
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_______ |
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Net assets |
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202,648 |
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185,209 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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1 |
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1 |
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Profit and loss account |
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10 |
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202,647 |
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185,208 |
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_______ |
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_______ |
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Shareholder funds |
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202,648 |
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185,209 |
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_______ |
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_______ |
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For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
04 September 2025
, and are signed on behalf of the board by:
.......................
Mr P Birkett
Director
Company registration number:
06448344
KENTON KARPETS LTD
Company number:
06448344
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2025
1.
General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Unit 5 & 6, Mayfair House, Redburn Industrial Estate, Newcastle upon Tyne, NE5 1NB.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
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| Goodwill |
- |
10 % |
straight line |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts is recorded at the fair value at the date of revaluation less any subseqeunt 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:
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Plant and machinery |
- |
15 % |
reducing balance |
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Fittings fixtures and equipment |
- |
10 % |
reducing balance |
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Motor vehicles |
- |
25 % |
reducing balance |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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.For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
13
(2024:
10
).
5.
Profit before taxation
Profit before taxation is stated after charging/(crediting):
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2025 |
2024 |
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|
£ |
£ |
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Depreciation of tangible assets |
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30,833 |
15,657 |
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_______ |
_______ |
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9.
Creditors: amounts falling due within one year
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2025 |
2024 |
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£ |
£ |
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Trade creditors |
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49,972 |
47,378 |
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Corporation tax |
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12,675 |
23,100 |
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Social security and other taxes |
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24,722 |
4,366 |
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Other creditors |
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22,277 |
20,895 |
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_______ |
_______ |
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109,646 |
95,739 |
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_______ |
_______ |
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10.
Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
11.
Directors advances, credits and guarantees
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During the year the director entered into the following advances and credits with the company: |
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2025 |
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Opening balance |
Advances to the director |
Amounts repaid |
Closing balance |
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£ |
£ |
£ |
£ |
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Mr P Birkett |
48,062 |
- |
(
48,062) |
- |
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_______ |
_______ |
_______ |
_______ |
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2024 |
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Opening balance |
Advances to the director |
Amounts repaid |
Closing balance |
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£ |
£ |
£ |
£ |
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Mr P Birkett |
- |
48,062 |
- |
48,062 |
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_______ |
_______ |
_______ |
_______ |
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