Kieninger Pendulums Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 00744165 (England and Wales)

KIENINGER PENDULUMS LTD

Unaudited Financial Statements

for the Year Ended 31 December 2023

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

Directors:

Mr K J Robinson

Mr A G Robinson

Mrs M C Robinson

Secretary:

Mr A G Robinson

Registered office:

Artisans House

7 Queensbridge

Northampton

Northamptonshire

NN4 7BF

Registered number:

00744165 (England and Wales)

Accountants:

Cobley Desborough

Chartered Certified Accountants

Chartered Tax Advisers

Artisans' House

7 Queensbridge

Northampton

Northamptonshire

NN4 7BF

FIXED ASSETS

Tangible assets

4

-

21,290

CURRENT ASSETS

Debtors

5

4,968,094

3,316,517

Cash at bank

-

2,066,699

4,968,094

5,383,216

CREDITORS

Amounts falling due within one year

6

1,199

419,212

NET CURRENT ASSETS

4,966,895

4,964,004

TOTAL ASSETS LESS CURRENT LIABILITIES

4,966,895

4,985,294

PROVISIONS FOR LIABILITIES

-

1,167

NET ASSETS

4,966,895

4,984,127

CAPITAL AND RESERVES

Called up share capital

81,899

81,899

Share premium

2,715

2,715

Capital redemption reserve

40,206

40,206

Other reserves

16,033

16,033

Retained earnings

4,826,042

4,843,274

SHAREHOLDERS' FUNDS

4,966,895

4,984,127

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2024 and were signed on its behalf by:

Mr K J Robinson - Director

1.	STATUTORY INFORMATION

Kieninger Pendulums Ltd 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 represents net invoiced rental income and sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment

-

15% on reducing balance

Fixtures and machinery

-

15% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment properties are not depreciated.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Going concern

The current economic conditions present increased risks for all businesses. In response to such conditions, the director has carefully considered these risks, including an assessment of uncertainty on future trading projections for a period of at least twelve months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on this assessment, the director considers that the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations of external liabilities.

In addition, the Company's assets are assessed for recoverability on a regular basis, and the director considers that the Company is not exposed to losses of these assets which would affect their decision to adopt the going concern basis.

The director is therefore satisfied and has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the Company's ability to continue as a going concern. Theses financial statements have therefore been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Office

and

equipment

machinery

Totals

£

£

£

Cost

At 1 January 2023

19,465

59,319

78,784

Disposals

(19,465

)

(59,319

)

(78,784

)

At 31 December 2023

-

-

-

Depreciation

At 1 January 2023

15,595

41,899

57,494

Charge for year

580

2,615

3,195

Eliminated on disposal

(16,175

)

(44,514

)

(60,689

)

At 31 December 2023

-

-

-

Net book value

At 31 December 2023

-

-

-

At 31 December 2022

3,870

17,420

21,290

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

-

163,019

Directors' current accounts

4,968,094

3,137,497

VAT

-

16,001

4,968,094

3,316,517

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

-

1,505

Tax

-

415,207

Accrued expenses

1,199

2,500

1,199

419,212