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Registered number: 04343807
Kingswood Frames And Mirrors/Framework Studio Limited
Financial Statements
For The Year Ended 31 March 2025
Aspire Accountancy and Bookkeeping Services Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04343807
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 44,727 52,792
44,727 52,792
CURRENT ASSETS
Stocks 6 129,870 124,382
Debtors 7 47,050 47,050
Cash at bank and in hand - 100
176,920 171,532
Creditors: Amounts Falling Due Within One Year 9 (192,647 ) (184,038 )
NET CURRENT ASSETS (LIABILITIES) (15,727 ) (12,506 )
TOTAL ASSETS LESS CURRENT LIABILITIES 29,000 40,286
Creditors: Amounts Falling Due After More Than One Year 10 (22,764 ) -
NET ASSETS 6,236 40,286
CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Profit and Loss Account 5,236 39,286
SHAREHOLDERS' FUNDS 6,236 40,286
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Timothy Haysell
Director
02/12/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Kingswood Frames And Mirrors/Framework Studio Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04343807 . The registered office is Unit 2a Fisher Road, Offas Dyke Business Park, Welshpool, Powys, SY21 8JF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold N/A
Leasehold N/A
Plant & Machinery 15% Reducing Balance
Motor Vehicles 20% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 15% Reducing Balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2024: 4)
3 4
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4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 27,647
As at 31 March 2025 27,647
Amortisation
As at 1 April 2024 27,647
As at 31 March 2025 27,647
Net Book Value
As at 31 March 2025 -
As at 1 April 2024 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 April 2024 7,413 117,365 15,199 139,977
Additions - 243 - 243
As at 31 March 2025 7,413 117,608 15,199 140,220
Depreciation
As at 1 April 2024 7,413 71,621 8,151 87,185
Provided during the period - 6,898 1,410 8,308
As at 31 March 2025 7,413 78,519 9,561 95,493
Net Book Value
As at 31 March 2025 - 39,089 5,638 44,727
As at 1 April 2024 - 45,744 7,048 52,792
6. Stocks
2025 2024
£ £
Stock 118,310 114,382
Work in progress 11,560 10,000
129,870 124,382
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7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 23,530 23,530
Other debtors 23,520 23,520
47,050 47,050
8. Current Asset Investments
9. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors (16,523 ) 10,423
Bank loans and overdrafts 95,284 74,631
Funding Circle Loan 14,752 -
Other creditors 84,344 54,478
Taxation and social security 14,790 44,506
192,647 184,038
10. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Other loans 22,764 -
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1,000 1,000
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