Company Registration No. 10372527 (England and Wales)
3KIN Ltd
Unaudited accounts
for the year ended 30 June 2023
3KIN Ltd
Statement of financial position
as at 30 June 2023
Tangible assets
41,136
50,584
Cash at bank and in hand
23,972
45,009
Creditors: amounts falling due within one year
(118,704)
(86,380)
Net current liabilities
(69,288)
(14,360)
Total assets less current liabilities
(28,152)
36,224
Creditors: amounts falling due after more than one year
(5,000)
(14,945)
Provisions for liabilities
Net (liabilities)/assets
(33,152)
17,343
Called up share capital
300
300
Profit and loss account
(33,452)
17,043
Shareholders' funds
(33,152)
17,343
For the year ending 30 June 2023 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 9 November 2023 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 2023
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 2023
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 2022
45,955
41,530
37,071
124,556
Disposals
-
(22,501)
(19,938)
(42,439)
At 30 June 2023
45,955
20,279
17,133
83,367
At 1 July 2022
16,085
30,832
27,055
73,972
Charge for the year
3,217
4,056
3,425
10,698
On disposals
-
(22,501)
(19,938)
(42,439)
At 30 June 2023
19,302
12,387
10,542
42,231
At 30 June 2023
26,653
7,892
6,591
41,136
At 30 June 2022
29,870
10,698
10,016
50,584
Amounts falling due within one year
Other debtors
15,680
18,866
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,000
10,000
Trade creditors
39,135
22,702
Taxes and social security
51,862
24,717
Other creditors
14,507
15,658
3KIN Ltd
Notes to the Accounts
for the year ended 30 June 2023
8
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
300 Ordinary shares of £1 each
300
300
10
Operating lease commitments
2023
2022
At 30 June 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than five years
20,000
16,250
11
Average number of employees
During the year the average number of employees was 20 (2022: 25).
