Registered number
09325015
KE Accounting Limited
Report and Accounts
30 November 2021
KE Accounting Limited
Registered number: 09325015
Balance Sheet
as at 30 November 2021
Notes 2021 2020
£ £
Fixed assets
Intangible assets 3 13,500 18,000
Tangible assets 4 1,689 769
15,189 18,769
Current assets
Debtors 5 2,656 324
Cash at bank and in hand 34,114 37,619
36,770 37,943
Creditors: amounts falling due within one year 6 (19,348) (30,819)
Net current assets 17,422 7,124
Total assets less current liabilities 32,611 25,893
Creditors: amounts falling due after more than one year 7 (10,586) (15,000)
Net assets 22,025 10,893
Capital and reserves
Called up share capital 100 100
Profit and loss account 21,925 10,793
Shareholder's funds 22,025 10,893
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K Edson
Director
Approved by the board on 19 August 2022
KE Accounting Limited
Notes to the Accounts
for the year ended 30 November 2021
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
Creditors
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.
Taxation
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 30 November 2021 45,000
Amortisation
At 1 December 2020 27,000
At 30 November 2021 31,500
Net book value
At 30 November 2021 13,500
At 30 November 2020 18,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 30 November 2021 4,001
Depreciation
At 1 December 2020 1,813
At 30 November 2021 2,312
Net book value
At 30 November 2021 1,689
At 30 November 2020 769
5 Debtors 2021 2020
£ £
Trade debtors 2,656 324
6 Creditors: amounts falling due within one year 2021 2020
£ £
Corporation tax - 4,726
Other creditors 19,348 26,093
19,348 30,819
7 Creditors: amounts falling due after one year 2021 2020
£ £
Bank loans 10,586 15,000
8 Controlling party
The company is owned by the sole director by virtue of her 100% shareholding.
9 Other information
KE Accounting Limited is a private company limited by shares and incorporated in England. Its registered office is:
3 Harden Close
Clifton Moor
York
YO30 4WE
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