Company Registration No. 10372527 (England and Wales)
3KIN Ltd
Unaudited accounts
for the year ended 30 June 2021
3KIN Ltd
Unaudited accounts
Contents
3KIN Ltd
Statement of financial position
as at 30 June 2021
Tangible assets
58,109
51,439
Cash at bank and in hand
55,829
100,626
Creditors: amounts falling due within one year
(41,817)
(75,558)
Net current assets
43,184
78,065
Total assets less current liabilities
101,293
130,254
Creditors: amounts falling due after more than one year
(50,000)
(190,000)
Provisions for liabilities
Net assets/(liabilities)
46,539
(59,746)
Called up share capital
300
300
Profit and loss account
46,239
(60,046)
Shareholders' funds
46,539
(59,746)
For the year ending 30 June 2021 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 18 February 2022 and were signed on its behalf by
Shabbir Ahmed Osman
Director
Company Registration No. 10372527
3KIN Ltd
Notes to the Accounts
for the year ended 30 June 2021
3KIN Ltd is a private company, limited by shares, registered in England and Wales, registration number 10372527. The registered office is 2 Limes Close, Bushby, Leicester, LE7 9SR, England.
2
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 year, 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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
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:
Land & buildings
7% straight line
Plant & machinery
20% straight line
Fixtures & fittings
20% straight line
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.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
3KIN Ltd
Notes to the Accounts
for the year ended 30 June 2021
4
Intangible fixed assets
Other
5
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 July 2020
45,955
26,734
22,483
95,172
Additions
-
13,861
10,800
24,661
At 30 June 2021
45,955
40,595
33,283
119,833
At 1 July 2020
9,651
17,477
16,605
43,733
Charge for the year
3,217
8,120
6,654
17,991
At 30 June 2021
12,868
25,597
23,259
61,724
At 30 June 2021
33,087
14,998
10,024
58,109
At 30 June 2020
36,304
9,257
5,878
51,439
6
Debtors: amounts falling due within one year
2021
2020
Deferred tax asset
-
10,062
Other debtors
21,292
27,953
7
Creditors: amounts falling due within one year
2021
2020
Trade creditors
5,707
26,229
Taxes and social security
31,448
35,334
Other creditors
1,662
13,995
3KIN Ltd
Notes to the Accounts
for the year ended 30 June 2021
8
Creditors: amounts falling due after more than one year
2021
2020
Allotted, called up and fully paid:
300 Ordinary shares of £1 each
300
300
10
Operating lease commitments
2021
2020
At 30 June 2021 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
More than five years
16,250
15,300
11
Average number of employees
During the year the average number of employees was 23 (2020: 25).
