Kingston Vapes Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08934231 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2020

for

Kingston Vapes Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J E Rowe

T Wilson

I Rowe

SECRETARY:

REGISTERED OFFICE:

650 Anlaby Road

Kingston upon Hull

EAST YORKSHIRE

HU3 6UU

REGISTERED NUMBER:

08934231 (England and Wales)

ACCOUNTANTS:

Andrew Cooper & Company

Chartered Accountants

650 Anlaby Road

Kingston upon Hull

East Yorkshire

HU3 6UU

FIXED ASSETS

Tangible assets

4

25,284

3,080

CURRENT ASSETS

Stocks

34,646

34,146

Debtors

5

5,016

6,827

Cash at bank and in hand

59,385

10,682

99,047

51,655

CREDITORS

Amounts falling due within one year

6

87,167

28,563

NET CURRENT ASSETS

11,880

23,092

TOTAL ASSETS LESS CURRENT LIABILITIES

37,164

26,172

CREDITORS

Amounts falling due after more than one year

7

8,625

-

NET ASSETS

28,539

26,172

CAPITAL AND RESERVES

Called up share capital

201

201

Retained earnings

28,338

25,971

SHAREHOLDERS' FUNDS

28,539

26,172

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2020 and were signed on its behalf by:

J E Rowe - Director

T Wilson - Director

1.	STATUTORY INFORMATION

Kingston Vapes Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2019 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

3,963

Additions

24,000

At 31 March 2020

27,963

DEPRECIATION

At 1 April 2019

883

Charge for year

1,796

At 31 March 2020

2,679

NET BOOK VALUE

At 31 March 2020

25,284

At 31 March 2019

3,080

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

Additions

24,000

At 31 March 2020

24,000

DEPRECIATION

Charge for year

1,400

At 31 March 2020

1,400

NET BOOK VALUE

At 31 March 2020

22,600

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Other debtors

5,016

6,827

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Hire purchase contracts

5,750

-

Taxation and social security

11,584

27,543

Other creditors

69,833

1,020

87,167

28,563

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Hire purchase contracts

8,625

-