Kenbro Discount Carpet Warehouses - Accounts to registrar (filleted)

REGISTERED NUMBER: 01241983 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

KENBRO DISCOUNT CARPET WAREHOUSES

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K C White

Mrs C M Mason

Mrs M M White

A Mason

SECRETARY:

Mrs C M Mason

REGISTERED OFFICE:

162-164 High Street

Rayleigh

Essex

SS6 7BS

REGISTERED NUMBER:

01241983 (England and Wales)

ACCOUNTANTS:

ESW Chartered Accountants

162-164 High Street

Rayleigh

Essex

SS6 7BS

FIXED ASSETS

Tangible assets

4

1,903,313

1,815,044

CURRENT ASSETS

Stocks

1,000

24,259

Debtors

5

3,776

9,722

Investments

6

247,845

281,143

Cash at bank and in hand

10,793

36,403

263,414

351,527

CREDITORS

Amounts falling due within one year

7

(159,260

)

(121,218

)

NET CURRENT ASSETS

104,154

230,309

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,007,467

2,045,353

CREDITORS

Amounts falling due after more than one
year

8

(65,434

)

(120,504

)

PROVISIONS FOR LIABILITIES

(19,479

)

(19,391

)

NET ASSETS

1,922,554

1,905,458

CAPITAL AND RESERVES

Called up share capital

50,200

Revaluation reserve

10

337,764

237,764

Fair value reserve

10

102,524

91,001

Retained earnings

1,432,066

1,526,493

SHAREHOLDERS' FUNDS

1,922,554

1,905,458

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8th September 2025 and were signed on its behalf by:

K C White - Director

1.	STATUTORY INFORMATION

Kenbro Discount Carpet Warehouses 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.

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 as modified by the revaluation of certain assets.

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 the cost less estimated residual value of each asset over its estimated useful life.

Freehold property

-

not provided

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

The company has taken advantage of the transitional exemption provisions in FRS 102 35.10(c) and (d) to include fair value or previous revaluations as deemed cost.

The directors believe that the policy of not providing depreciation on freehold property is necessary in order for the accounts to give a true and fair view, since the current value of freehold property and changes to the current value are of prime importance rather than the calculation of systematic annual depreciation.

Stocks

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

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies

Transactions denominated in foreign currencies are translated into sterling and recorded at the rate of exchange ruling at the date of the transaction.

Balances at the year-end denominated in a foreign currency are translated into sterling at the rate of exchange ruling at the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in profit and loss account when due.

Current asset investments

Current asset investments are included at fair value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

COST OR VALUATION

At 1st January 2024

1,800,000

68,355

70,008

15,701

1,954,064

Disposals

-

(54,051

)

(70,008

)

(15,701

)

(139,760

)

Revaluations

100,000

-

100,000

At 31st December 2024

1,900,000

14,304

-

1,914,304

DEPRECIATION

At 1st January 2024

-

55,897

67,422

15,701

139,020

Charge for year

-

584

-

584

Eliminated on disposal

-

(45,490

)

(67,422

)

(15,701

)

(128,613

)

At 31st December 2024

-

10,991

-

10,991

NET BOOK VALUE

At 31st December 2024

1,900,000

3,313

-

1,903,313

At 31st December 2023

1,800,000

12,458

2,586

-

1,815,044

Cost or valuation at 31st December 2024 is represented by:

Freehold

Plant and

property

machinery

Totals

£

Valuation in 2009

937,765

-

937,765

Valuation in 2023

(700,000

)

-

(700,000

)

Valuation in 2024

100,000

-

100,000

Cost

1,562,235

14,304

1,576,539

1,900,000

14,304

1,914,304

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

84

281

Other debtors

3,692

9,441

3,776

9,722

6.	CURRENT ASSET INVESTMENTS

2024

2023

£

Listed investments

247,845

281,143

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

50,082

Trade creditors

17,998

37,033

Taxation and social security

16,009

20,895

Other creditors

75,171

13,208

159,260

121,218

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Bank loans

65,434

120,504

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Bank loans

115,516

170,586

The bank loan is secured on the freehold property of the company.

10.

RESERVES

Fair

Revaluation

value

reserve

Totals

£

At 1st January 2024

237,764

91,001

328,765

Movement in period

100,000

-

100,000

Fair value reserve movement

-

11,523

At 31st December 2024

337,764

102,524

440,288

11.	ULTIMATE CONTROLLING PARTY

The controlling party is K C White.