KENT CRAFT SUPPLIES LIMITED

KENT CRAFT SUPPLIES LIMITED - Company Information

2022-01-192023-03-312023-03-31false13859590KENT CRAFT SUPPLIES 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Registered Number
13859590
(England and Wales)

Unaudited Financial Statements for the Period ended
31 March 2023

KENT CRAFT SUPPLIES LIMITED

Company Information
for the period from 19 January 2022 to 31 March 2023


Directors	MORGAN, Janet
	MORGAN, David George


Registered Address	4 Chancellor Way
	Sevenoaks
	TN13 3LA


Registered Number	13859590 (England and Wales)

KENT CRAFT SUPPLIES LIMITED

Balance Sheet as at
31 March 2023

	Notes	2023
		£	£
Fixed assets
Tangible assets	5		2,550
			2,550
Current assets
Stocks	7	12,885
Cash at bank and on hand		4,968
		17,853
Creditors amounts falling due within one year	9	(124)
Net current assets (liabilities)			17,729
Total assets less current liabilities			20,279
Creditors amounts falling due after one year	10		(20,245)
Net assets			34
Capital and reserves
Profit and loss account			34
Shareholders' funds			34

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Board of Directors on 12 September 2023, and are signed on its behalf by:

MORGAN, David George
Director

MORGAN, Janet
Director

Registered Company No. 13859590

KENT CRAFT SUPPLIES LIMITED

Notes to the Financial Statements
for the period ended 31 March 2023

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	Accounting policies

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

	Stocks policy
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Revenue recognition policy
	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.

Revenue recognition policy

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.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Investments policy
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments policy

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

4.	Employee information


		2023
	Average number of employees during the year	0

5.	Property, plant and equipment

	Plant & machinery	Total
	£	£
Cost or valuation
Additions	2,550	2,550
At 31 March 23	2,550	2,550
Net book value
At 31 March 23	2,550	2,550
At 18 January 22	-	-

6.	Fixed asset investments

7.	Stocks

		2023
		£
	Other stocks	12,885
	Total	12,885

8.	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.

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.

9.	Creditors within one year

		2023
		£
	Taxation and social security	111
	Other creditors	13
	Total	124


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

10.	Creditors after one year

		2023
		£
	Other creditors	20,245
	Total	20,245


	Other Creditors are loans from the directors of Kent Craft Supplies Limited. The loan is interest free and payable on demand.