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Registration number: 11776893

The KLE (Berwick) Group Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 January 2022

 

The KLE (Berwick) Group Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

The KLE (Berwick) Group Ltd

Company Information

Director

Mr Steven Wood

Registered office

Ground Floor Lion House
Willowburn Trading Estate
Alnwick
Northumberland
NE66 2PF

Accountants

AMT Business (Northumbria) Ltd
Ground Floor Lion House
Willowburn Trading Estate
Alnwick
Northumberland
NE66 2PF

 

The KLE (Berwick) Group Ltd

(Registration number: 11776893)
Abridged Balance Sheet as at 31 January 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

68,087

33,375

Current assets

 

Debtors

86,200

78,751

Cash at bank and in hand

 

2,650

37,632

 

88,850

116,383

Prepayments and accrued income

 

42,000

32,500

Creditors: Amounts falling due within one year

(132,486)

(94,886)

Net current (liabilities)/assets

 

(1,636)

53,997

Total assets less current liabilities

 

66,451

87,372

Creditors: Amounts falling due after more than one year

(49,167)

(50,000)

Accruals and deferred income

 

(800)

(800)

Net assets

 

16,484

36,572

Capital and reserves

 

Called up share capital

5

100

100

Retained earnings

16,384

36,472

Shareholders' funds

 

16,484

36,572

For the financial year ending 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

The KLE (Berwick) Group Ltd

(Registration number: 11776893)
Abridged Balance Sheet as at 31 January 2022

Approved and authorised by the director on 25 April 2022
 

.........................................

Mr Steven Wood

Director

 

The KLE (Berwick) Group Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2022

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Ground Floor Lion House
Willowburn Trading Estate
Alnwick
Northumberland
NE66 2PF
England

These financial statements were authorised for issue by the director on 25 April 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

The KLE (Berwick) Group Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2022

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Vehicles

20% S/L

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

The KLE (Berwick) Group Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2022

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 24 (2021 - 13).

 

The KLE (Berwick) Group Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2022

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2021

43,707

43,707

Additions

60,836

60,836

Disposals

(10,880)

(10,880)

At 31 January 2022

93,663

93,663

Depreciation

At 1 February 2021

10,333

10,333

Charge for the year

19,167

19,167

Eliminated on disposal

(3,924)

(3,924)

At 31 January 2022

25,576

25,576

Carrying amount

At 31 January 2022

68,087

68,087

At 31 January 2021

33,375

33,375

5

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         

6

Dividends

Interim dividends paid

   

2022
£

 

2021
£

Interim dividend of £300.00 per each Ordinary Shares

 

30,000

 

30,000