Registered number
08872998
K T Construction Law Limited
Unaudited Filleted Accounts
31 March 2023
K T Construction Law Limited
Registered number: 08872998
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 358,507 363,522
Current assets
Debtors 4 889,794 785,905
Cash at bank and in hand 91,578 185,766
981,372 971,671
Creditors: amounts falling due within one year 5 (284,662) (420,034)
Net current assets 696,710 551,637
Net assets 1,055,217 915,159
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,055,117 915,059
Shareholder's funds 1,055,217 915,159
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 Teichmann
Director
Approved by the board on 27 September 2023
K T Construction Law Limited
Notes to the Accounts
for the year ended 31 March 2023
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.
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:
Leasehold land and buildings 2 - 5% straight line
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Motor Vehicles 25% reducing balance
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 15 11
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 278,971 174,341 24,077 477,389
Additions - 18,446 14,062 32,508
At 31 March 2023 278,971 192,787 38,139 509,897
Depreciation
At 1 April 2022 16,085 88,062 9,720 113,867
Charge for the year 4,237 26,181 7,105 37,523
At 31 March 2023 20,322 114,243 16,825 151,390
Net book value
At 31 March 2023 258,649 78,544 21,314 358,507
At 31 March 2022 262,886 86,279 14,357 363,522
4 Debtors 2023 2022
£ £
Trade debtors 504,694 651,987
Other debtors 385,100 133,918
889,794 785,905
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 64,083 50,331
Taxation and social security costs 202,851 288,900
Other creditors 17,728 80,803
284,662 420,034
6 Other information
K T Construction Law Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 1, Kings Court
Burrows Lane
Guildford
Surrey
GU5 9QE
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