Kiwi Fabrics Limited - Filleted accounts

Kiwi Fabrics Limited - Filleted accounts

KIWI FABRICS LIMITED - Company Information

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Registered number
00717068
Kiwi Fabrics Limited
Filleted Accounts
31 March 2022
Kiwi Fabrics Limited
Registered number: 00717068
Balance Sheet
as at 31 March 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 212,500 212,521
Investments 4 536,206 572,815
748,706 785,336
Current assets
Cash at bank and in hand 17,811 5,788
Creditors: amounts falling due within one year 5 (6,694) (4,188)
Net current assets 11,117 1,600
Net assets 759,823 786,936
Capital and reserves
Called up share capital 875 875
Revaluation reserve 6 257,123 304,982
Profit and loss account 501,825 481,079
Shareholders' funds 759,823 786,936
The directors are 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 directors acknowledge their 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.
Mrs J T R Esser
Director
Approved by the board on 16 August 2022
Kiwi Fabrics Limited
Notes to the Accounts
for the year ended 31 March 2022
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:
Fixtures & Fittings 33.33% reducing balance
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2021 212,457 17,154 229,611
At 31 March 2022 212,457 17,154 229,611
Depreciation
At 1 April 2021 - 17,090 17,090
Charge for the year - 21 21
At 31 March 2022 - 17,111 17,111
Net book value
At 31 March 2022 212,457 43 212,500
At 31 March 2021 212,457 64 212,521
4 Investments
Investments
£
Cost
At 1 April 2021 572,815
Additions 33
Revaluation (36,642)
At 31 March 2022 536,206
5 Creditors: amounts falling due within one year 2022 2021
£ £
Taxation and social security costs 2,296 3,034
Other creditors 4,398 1,154
6,694 4,188
6 Revaluation reserve 2022 2021
£ £
At 1 April 2021 304,982 120,532
(Loss)/gain on revaluation of investments (47,859) 184,450
At 31 March 2022 257,123 304,982
7 Other information
Kiwi Fabrics Limited is a private company limited by shares and incorporated in England. Its registered office is:
36 Elthiron Road
Fulham
London
SW6 4BW
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