Kingsgate Furniture Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01885122

KINGSGATE FURNITURE LIMITED

FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS

28 February 2025

KINGSGATE FURNITURE LIMITED

ABRIDGED STATEMENT OF FINANCIAL POSITION

28 February 2025

	2025		2024
Note	£	£	£

FIXED ASSETS

Tangible assets	5		47,309	36,787

CURRENT ASSETS

Stocks	86,025	75,050
Debtors	20,209	11,306
Cash at bank and in hand	109	10,922
	----------	---------
	106,343	97,278

CREDITORS: amounts falling due within one year	116,516		86,227
	----------		---------
NET CURRENT (LIABILITIES)/ASSETS		( 10,173)	11,051
		---------	---------
TOTAL ASSETS LESS CURRENT LIABILITIES		37,136	47,838

CREDITORS: amounts falling due after more than one year	11,061	21,710
	---------	---------
NET ASSETS	26,075	26,128
	---------	---------

KINGSGATE FURNITURE LIMITED

ABRIDGED STATEMENT OF FINANCIAL POSITION (continued)

28 February 2025

	2025		2024
Note	£	£	£

CAPITAL AND RESERVES

Called up share capital	20,201	20,201
Profit and loss account	5,874	5,927
	---------	---------
SHAREHOLDERS FUNDS	26,075	26,128
	---------	---------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 28 February 2025 in accordance with Section 444(2A) of the Companies Act 2006.

These abridged financial statements were approved by the board of directors and authorised for issue on 20 November 2025 , and are signed on behalf of the board by:

M S Baldery	A R Brown
Director	Director

Company registration number: 01885122

KINGSGATE FURNITURE LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

YEAR ENDED 28 FEBRUARY 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 4, Oakwood Industrial Estate, Dane Valley Road, St Peters, Broadstairs, Kent, CT10 3JL.

2. STATEMENT OF COMPLIANCE

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of Preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Tangible Assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings	-	10% reducing balance
Motor Vehicles	-	25% reducing balance

Financial Instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 12 (2024: 12 ).

5. TANGIBLE ASSETS

	£
Cost
At 1 March 2024	93,209
Additions	11,495
	----------
At 28 February 2025	104,704
	----------
Depreciation
At 1 March 2024	56,422
Charge for the year	973
	----------
At 28 February 2025	57,395
	----------
Carrying amount
At 28 February 2025	47,309
	----------
At 29 February 2024	36,787
	----------

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
M S Baldery	( 33,928)	( 9,018)	( 42,946)
A R Brown	( 34,328)	( 9,018)	( 43,346)
	---------	---------	---------
	( 68,256)	( 18,036)	( 86,292)
	---------	---------	---------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
M S Baldery	( 14,889)	( 19,039)	( 33,928)
A R Brown	( 15,289)	( 19,039)	( 34,328)
	---------	---------	---------
	( 30,178)	( 38,078)	( 68,256)
	---------	---------	---------