Kelvin & Watt Limited - Filleted accounts

Registered number

13171656

Kelvin & Watt Limited

Unaudited Filleted Accounts

31 March 2025

Kelvin & Watt Limited
Registered number:		13171656
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		81,781			62,382

Current assets
Debtors	4	74,706			89,671
Cash at bank and in hand		171,748			160,301
		246,454			249,972

Creditors: amounts falling due within one year	5	(91,397)			(98,493)

Net current assets			155,057			151,479

Total assets less current liabilities			236,838			213,861


Provisions for liabilities			(18,434)			(15,596)


Net assets			218,404			198,265

Capital and reserves
Called up share capital			10			10
Profit and loss account			218,394			198,255

Shareholders' funds			218,404			198,265

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




J.O. Johnson
Director
Approved by the board on 31 October 2025

Kelvin & Watt Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Motor Vehicles			25% reducing balance
	Equipment			20% straight line
	Workshop			20% straight line

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					2		1


3	Tangible fixed assets
		Workshop		Equipment		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2024	-		13,271		61,617		74,888
	Additions	8,045		400		28,043		36,488
	At 31 March 2025	8,045		13,671		89,660		111,376

	Depreciation
	At 1 April 2024	-		3,823		8,683		12,506
	Charge for the year	-		2,687		14,402		17,089
	At 31 March 2025	-		6,510		23,085		29,595

	Net book value
	At 31 March 2025	8,045		7,161		66,575		81,781
	At 31 March 2024	-		9,448		52,934		62,382


4	Debtors					2025		2024
£							£

	Trade debtors					28,854		45,973
	Other debtors					45,852		43,698
						74,706		89,671


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Trade creditors					14,902		29,792
	Director's loan account					1,913		333
	Taxation and social security costs					68,404		63,918
	Other creditors					6,178		4,450
						91,397		98,493


6	Controlling party

	The company is ultimately controlled by J.O. Johnson.


7	Other information

	Kelvin & Watt Limited is a private company limited by shares and incorporated in England. Its registered office is:
	James House
	40 Lagland Street
	Poole
	Dorset
	BH15 1QG