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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Kingstons Homes Limited is a private company limited by shares, registered in England and Wales, company number 01009757. The address of its registered office is shown on the company information page. The company's principal place of business is Upper Floor, Unit 14 Princeton Mews, 167-169 London Road, Kingston upon Thames, Surrey KT2 6PT.
The Company's functional and presentational currency is GBP.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
The turnover shown in the profit and loss account represents amounts receivable for the year, exclusive of Value Added Tax.
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Stocks is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any of foreseeable losses where appropriate.
The company has agreed to provide certain additional post-retirement benefits to selected senior employees. The estimated cost of providing such benefits is charged against profits on a systematic basis over the employees' working lives within the company.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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The average monthly number of employees, including directors, during the year was 3 (2021 -3).
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