General Information
KLIC Home Ltd is a private company, limited by shares, registered in England and Wales, registration number 13147965, registration address 4,5,6 Tansley Business Park, King's Lynn, PE30 4ZT.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Motor Vehicles |
25% Reducing Balance
|
| Computer Equipment |
25% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 9 (2024 : 13).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Motor Vehicles |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 April 2024 |
52,905 |
|
17,354 |
|
70,259 |
| Additions |
- |
|
278 |
|
278 |
| Disposals |
- |
|
- |
|
- |
| At 31 March 2025 |
52,905 |
|
17,632 |
|
70,537 |
| Depreciation |
| At 01 April 2024 |
25,083 |
|
5,095 |
|
30,178 |
| Charge for year |
6,955 |
|
3,134 |
|
10,089 |
| On disposals |
- |
|
- |
|
- |
| At 31 March 2025 |
32,038 |
|
8,229 |
|
40,267 |
| Net book values |
| Closing balance as at 31 March 2025 |
20,867 |
|
9,403 |
|
30,270 |
| Opening balance as at 01 April 2024 |
27,822 |
|
12,259 |
|
40,081 |
|
| 4. |
Stocks
|
2025
£ |
|
2024
£ |
| Work in Progress |
142,386 |
|
130,825 |
| Stocks |
53,640 |
|
57,688 |
|
196,026 |
|
188,513 |
|
| 5. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Debtors |
46,171 |
|
131,260 |
| Amount Owed by Group Undertakings |
(325) |
|
- |
| Prepayments & Accrued Income |
2,472 |
|
2,724 |
| Other Debtors |
145,012 |
|
59,635 |
| Directors current account - Phil |
- |
|
51,699 |
| Directors current account - Brett |
141,638 |
|
81,582 |
| Directors current account- Stewart |
13,917 |
|
43,417 |
|
348,885 |
|
370,317 |
|
| 6. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Creditors |
187,131 |
|
200,372 |
| Loan - IWOCA |
61,119 |
|
- |
| Loan - Flaximize |
54,426 |
|
- |
| Corporation Tax |
53,256 |
|
127,909 |
| PAYE & Social Security |
92,155 |
|
10,831 |
| Advance Paid |
227,802 |
|
223,245 |
| Other Creditors |
3 |
|
101 |
| Hire purchase loan |
5,002 |
|
5,107 |
| Pension contributions unpaid |
736 |
|
386 |
| Santander Hire purchase |
526 |
|
6,158 |
| VAT |
42,721 |
|
71,605 |
|
724,877 |
|
645,714 |
|
| 7. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Loan - Flaximize |
14,508 |
|
- |
| Hire purchase loan |
- |
|
5,002 |
| Santander Hire Purchase |
- |
|
526 |
|
14,508 |
|
5,528 |
|
| 8. |
Provisions for liabilities
|
2025
£ |
|
2024
£ |
| Deferred Tax |
7,568 |
|
10,021 |
|
7,568 |
|
10,021 |
|
| 9. |
Advances and Credits
Philip Dorrington During the year the company loaned money to the directors. Interest was charged at the official rate. The amounts due are repayable upon demand. Brett Wittam During the year the company loaned money to the directors. Interest was charged at the official rate. The amounts due are repayable upon demand. Stewart Grand During the year the company loaned money to the directors. Interest was charged at the official rate. The amounts due are repayable upon demand. | Brought Forward
£ | Amount
£ | Interest
£ | Repaid
£ | Written Off
£ | Waived
£ | Carry Forward
£ |
|---|
| Philip Dorrington | 51,699 | | - | | 405 | | 52,104 | | - | | - | | - | | Brett Wittam | 81,581 | | 57,574 | | 2,483 | | - | | - | | - | | 141,638 | | Stewart Grand | 43,417 | | - | | 808 | | 30,308 | | - | | - | | 13,917 | | 176697 | | 57574 | | 3696 | | 82412 | | 0 | | 0 | | 155555 |
| Brought Forward
£ | Amount
£ | Interest
£ | Repaid
£ | Written Off
£ | Waived
£ | Carry Forward
£ |
|---|
| Philip Dorrington | 25,411 | | 25,430 | | 858 | | - | | - | | - | | 51,699 | | Brett Wittam | 41,779 | | 38,430 | | 1,372 | | - | | - | | - | | 81,581 | | Stewart Grand | - | | 42,934 | | 483 | | - | | - | | - | | 43,417 | | 67190 | | 106794 | | 2713 | | 0 | | 0 | | 0 | | 176697 |
|
3
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