2022-06-012023-05-312023-05-31false07266862K & D CONSTRUCTION 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K & D CONSTRUCTION LIMITED

Registered Number
07266862
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2023

K & D CONSTRUCTION LIMITED
Company Information
for the year from 1 June 2022 to 31 May 2023

Director

HENSCOE, Kristofer

Registered Address

1a Reddicap Hill
Sutton Coldfield
B75 7BH

Registered Number

07266862 (England and Wales)
K & D CONSTRUCTION LIMITED
Balance Sheet as at
31 May 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets580,38317,600
80,38317,600
Current assets
Stocks652,70057,037
Debtors797,64232,295
Cash at bank and on hand12,9229,331
163,26498,663
Creditors amounts falling due within one year8(162,862)(84,375)
Net current assets (liabilities)40214,288
Total assets less current liabilities80,78531,888
Creditors amounts falling due after one year9(76,445)(30,000)
Provisions for liabilities10(1,221)(1,221)
Net assets3,119667
Capital and reserves
Called up share capital100100
Profit and loss account3,019567
Shareholders' funds3,119667
The financial statements were approved and authorised for issue by the Director on 15 October 2023, and are signed on its behalf by:
HENSCOE, Kristofer
Director
Registered Company No. 07266862
K & D CONSTRUCTION LIMITED
Notes to the Financial Statements
for the year ended 31 May 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
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).
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Vehicles25
Office Equipment25
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
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.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
4.Employee information

20232022
Average number of employees during the year45
5.Property, plant and equipment

Vehicles

Office Equipment

Total

£££
Cost or valuation
At 01 June 2231,0472,31533,362
Additions81,920-81,920
Disposals(18,644)-(18,644)
At 31 May 2394,3232,31596,638
Depreciation and impairment
At 01 June 2213,6222,14015,762
Charge for year9,8131759,988
On disposals(9,495)-(9,495)
At 31 May 2313,9402,31516,255
Net book value
At 31 May 2380,383-80,383
At 31 May 2217,42517517,600
6.Stocks

2023

2022

££
Work in progress52,70057,037
Total52,70057,037
7.Debtors

2023

2022

££
Trade debtors / trade receivables33,20224,607
Other debtors16,2497,688
Prepayments and accrued income48,191-
Total97,64232,295
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.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables91,43851,399
Bank borrowings and overdrafts27,56910,000
Taxation and social security41,64722,976
Other creditors388-
Accrued liabilities and deferred income1,820-
Total162,86284,375
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.
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts20,00030,000
Other creditors56,445-
Total76,44530,000
10.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)1,2211,221
Total1,2211,221