Kradle Inc Limited
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Notes to the Accounts |
for the period from 17 December 2019 to 30 December 2020
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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Turnover |
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Turnover is measured at the value of service provided to its clients and payment becomes unconditional .
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
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Freehold buildings |
over 50 years |
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Leasehold land and buildings |
over the lease term |
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Plant and machinery |
25% |
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Fixtures, fittings, tools and equipment |
over 5 years |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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2 |
Employees |
2020 |
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Number |
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Average number of persons employed by the company |
1 |
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3 |
Tangible fixed assets |
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Plant and machinery etc |
£ |
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Cost |
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Additions |
828 |
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At 30 December 2020 |
828 |
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Depreciation |
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Charge for the period |
207 |
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At 30 December 2020 |
207 |
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Net book value |
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At 30 December 2020 |
621 |
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4 |
Creditors: amounts falling due within one year |
2020 |
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£ |
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Bank loans and overdrafts |
20,000 |
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Other creditors |
6,954 |
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32,778 |
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5 |
Other information |
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Kradle Inc Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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Flat 14 |
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Best House |
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Matthew Close |
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Wembley |
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HA9 8FE |