Company Registration No. 10898245 (England and Wales)
99KITS. LTD
Unaudited accounts
for the period from 31 December 2023 to 31 December 2024
99KITS. LTD
Company Information
for the period from 31 December 2023 to 31 December 2024
Directors
R Bullen
D P Hassall
Company Number
10898245 (England and Wales)
Registered Office
18c Wendover Road
Rackheath Industrial Estate
Rackheath
Norwich
Norfolk
NR13 6LH
England
Accountants
Accountancy Plus & Payroll People Ltd
9 Langley Street
Langley
Norwich
Norfolk
NR14 6DE
99KITS. LTD
Statement of financial position
as at 31 December 2024
Tangible assets
11,997
12,588
Creditors: amounts falling due within one year
(53,534)
(31,875)
Net current (liabilities)/assets
(20,888)
2,350
Total assets less current liabilities
(8,891)
14,938
Creditors: amounts falling due after more than one year
(25,578)
(26,738)
Net liabilities
(34,469)
(11,800)
Called up share capital
100
100
Profit and loss account
(34,569)
(11,900)
Shareholders' funds
(34,469)
(11,800)
For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 December 2024 and were signed on its behalf by
R Bullen
Director
Company Registration No. 10898245
99KITS. LTD
Notes to the Accounts
for the period from 31 December 2023 to 31 December 2024
99KITS. LTD is a private company, limited by shares, registered in England and Wales, registration number 10898245. The registered office is 18c Wendover Road, Rackheath Industrial Estate, Rackheath, Norwich, Norfolk, NR13 6LH, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The Directors have considered the Company's position at the time of signing of the financial statements, and based on this, the Directors have concluded that they have a reasonable expectation the Company will have adequate resources to continue in operation existence for the foreseeable future and there therefore continue to adopt the going concern basis of the accounting in preparing thee financial statements.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
18% reducing balance
Fixtures & fittings
18% reducing balance
Computer equipment
33% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash is represented by cash in hand and deposits with financial institutions repayable within penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible know amounts of cash with insignificant risk of change in value.
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transactions costs, and are measure subsequently at amortised cost using the effective interest method.
99KITS. LTD
Notes to the Accounts
for the period from 31 December 2023 to 31 December 2024
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loan to related parties and investments in ordinary shares.
All borrowing costs are recognised in the profit or loss in the in which they are incurred.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 31 December 2023
14,828
7,748
3,187
25,763
Additions
2,171
702
285
3,158
At 31 December 2024
16,999
8,450
3,472
28,921
At 31 December 2023
7,444
3,542
2,189
13,175
Charge for the period
1,720
884
1,145
3,749
At 31 December 2024
9,164
4,426
3,334
16,924
At 31 December 2024
7,835
4,024
138
11,997
At 30 December 2023
7,384
4,206
998
12,588
Amounts falling due within one year
Trade debtors
16,490
21,070
Accrued income and prepayments
5,250
2,250
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
7,072
5,957
Trade creditors
12,555
15,736
Taxes and social security
6,623
3,447
Other creditors
17,334
294
99KITS. LTD
Notes to the Accounts
for the period from 31 December 2023 to 31 December 2024
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Creditors: amounts falling due after more than one year
2024
2023
Loans from directors
14,917
14,820
The Company operates a define contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently managed fund. The pension costs represents the contributions payable by the Company to the fund and amounted to £1,644 (2023: £1,075). Total contributions payable to the fund at the period end are included within other creditors equals £323 (2023: £294).
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Average number of employees
During the period the average number of employees was 8 (2023: 6).