Kris Motor Spares Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01402912 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

KRIS MOTOR SPARES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

V C Krishnani

SECRETARY:

V C Krishnani

REGISTERED OFFICE:

50 Seymour Street

London

W1H 7JG

REGISTERED NUMBER:

01402912 (England and Wales)

ACCOUNTANTS:

Orcom Civvals Limited

Accountants

50 Seymour Street

London

W1H 7JG

BANKERS:

Bank of Baroda

Southall Branch

86 The Broadway

Southall

Middlesex

UB1 1QD

FIXED ASSETS

Tangible assets

4

600,154

579,519

Investments

5

38,441

638,595

617,960

CURRENT ASSETS

Stocks

458,000

381,100

Debtors

6

192,097

207,708

Cash at bank

1,106,382

951,533

1,756,479

1,540,341

CREDITORS

Amounts falling due within one year

7

(228,154

)

(150,505

)

NET CURRENT ASSETS

1,528,325

1,389,836

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,166,920

2,007,796

CREDITORS

Amounts falling due after more than
one year

8

(14,687

)

(21,938

)

PROVISIONS FOR LIABILITIES

(269,338

)

(261,306

)

NET ASSETS

1,882,895

1,724,552

CAPITAL AND RESERVES

Called up share capital

38,000

Share premium

9

38,100

Revaluation reserve

9

39,933

Capital redemption reserve

9

33,000

Retained earnings

9

1,733,862

1,575,519

SHAREHOLDERS' FUNDS

1,882,895

1,724,552

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 27 August 2025 and were signed by:

V C Krishnani - Director

1.	STATUTORY INFORMATION

Kris Motor Spares 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

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

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

COST OR VALUATION

At 1 December 2023

402,949

662,429

36,784

83,036

1,185,198

Additions

-

60,841

-

60,841

Disposals

-

(17,329

)

(17,329

)

At 30 November 2024

402,949

723,270

36,784

65,707

1,228,710

DEPRECIATION

At 1 December 2023

-

522,850

22,600

60,229

605,679

Charge for year

-

30,063

2,128

4,931

37,122

Eliminated on disposal

-

(14,245

)

(14,245

)

At 30 November 2024

-

552,913

24,728

50,915

628,556

NET BOOK VALUE

At 30 November 2024

402,949

170,357

12,056

14,792

600,154

At 30 November 2023

402,949

139,579

14,184

22,807

579,519

Cost or valuation at 30 November 2024 is represented by:

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

Valuation in 2001

9,733

-

9,733

Valuation in 2009

200,000

-

200,000

Valuation in 2014

(100,000

)

-

(100,000

)

Valuation in 2018

(60,000

)

-

(60,000

)

Cost

353,216

723,270

36,784

65,707

1,178,977

402,949

723,270

36,784

65,707

1,228,710

5.	FIXED ASSET INVESTMENTS

Listed

Unlisted

investments

Totals

£

COST

At 1 December 2023

and 30 November 2024

38,400

41

38,441

NET BOOK VALUE

At 30 November 2024

38,400

41

38,441

At 30 November 2023

38,400

41

38,441

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

115,386

134,341

Other debtors

76,711

73,367

192,097

207,708

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Hire purchase contracts

7,251

13,024

Trade creditors

157,147

45,295

Taxation and social security

51,167

79,849

Other creditors

12,589

12,337

228,154

150,505

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

2024

2023

£

Hire purchase contracts

14,687

21,938

Hire purchase contracts are repayable monthly over a three year period and are interest free.

9.

RESERVES

Capital

Retained

Share

Revaluation

redemption

earnings

premium

reserve

Totals

£

At 1 December 2023

1,575,519

38,100

39,933

33,000

1,686,552

Profit for the year

158,343

At 30 November 2024

1,733,862

38,100

39,933

33,000

1,844,895

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The company rents on normal commercial terms two yards from the directors of the company. The amount paid for rents during the year amounted to £60,000 (2023: £60,000).

The directors overdrawn loan account was fully discharged within 9 months of the year end.