REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 |
FOR |
KD CONSTRUCTION (UK) LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 |
FOR |
KD CONSTRUCTION (UK) LTD |
KD CONSTRUCTION (UK) LTD (REGISTERED NUMBER: 08686897) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 7 |
KD CONSTRUCTION (UK) LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2023 |
DIRECTOR: |
REGISTERED OFFICE: | Oatlands Road |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
2nd Floor |
10(b) Aldermans Hill |
Palmers Green |
London |
N13 4PJ |
KD CONSTRUCTION (UK) LTD (REGISTERED NUMBER: 08686897) |
BALANCE SHEET |
31 JANUARY 2023 |
31.1.23 | 31.1.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
KD CONSTRUCTION (UK) LTD (REGISTERED NUMBER: 08686897) |
BALANCE SHEET - continued |
31 JANUARY 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
KD CONSTRUCTION (UK) LTD (REGISTERED NUMBER: 08686897) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2023 |
1. | STATUTORY INFORMATION |
KD Construction (UK) Limited is a private company,limited by shares, registered in England and Wales.The company 's registered number is 08686897 and registered office address is 47A Oatland Road, Enfield, Middlesex, EN3 5LL. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sale of goods and services, excluding value added tax. |
Tangible fixed assets |
Plant and machinery etc | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Revenue recognition |
Amounts due under contracts-not yet invoiced (work in progress) are valued at the recoverable standard value of time charged by all personnel engaged in the provision of engineering services. Revenue is recognised as the contracts progress to reflect the partial performance of the contractual obligation. The amount of revenue recognised reflects the accrual of the right for consideration as contract activity progresses by reference to the value of work performed. |
Going concern |
As with most businesses the Company has been affected by the ongoing impact of Covid-19, the exit from the European Union and the high level of inflation in the UK economy These have had an impact on the operations, customers, suppliers and staff. The Company is taking all the steps it can to protect the future of the business. Although the total impact is still uncertain the director believes that it is appropriate to prepare the accounts on a going concern basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
KD CONSTRUCTION (UK) LTD (REGISTERED NUMBER: 08686897) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 February 2022 |
and 31 January 2023 |
DEPRECIATION |
At 1 February 2022 |
Charge for year |
At 31 January 2023 |
NET BOOK VALUE |
At 31 January 2023 |
At 31 January 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.23 | 31.1.22 |
£ | £ |
Amounts recoverable on contract |
VAT |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.23 | 31.1.22 |
£ | £ |
Social security and other taxes | ( |
) | ( |
) |
Pension | 83 | 39 |
( |
) | ( |
) |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.1.23 | 31.1.22 |
£ | £ |
Bank loans more 5 yr by instal |
Directors' loan accounts | 249,592 | 227,450 |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 32,540 | 44,676 |
KD CONSTRUCTION (UK) LTD (REGISTERED NUMBER: 08686897) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2023 |
8. | DIRECTOR'S LOAN |
Included in Creditors - amounts falling due after more than one year is a loan of £249,592 (2022-£227,450 ) due to the Director. This loan is recognised at transaction price. The director's loan is not due until after more than 1 year and is interest free. |
9. | PROVISIONS FOR LIABILITIES |
31.1.23 | 31.1.22 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Deferred |
tax |
£ |
Balance at 1 February 2022 |
Credit to Income Statement during year | ( |
) |
Balance at 31 January 2023 |
10. | GOING CONCERN |
The Financial Statements have been prepared on a going concern basis. The company has Net Liabilities of £181,765 (2022: £182,365). |
The company lost its main customer and as a result the turnover has reduced significantly. The director has restructured the business and is confident that in the future the results will improve, strengthening the company's Balance Sheet. |
The director has also provided assurances that he will continue supporting the company. |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
KD CONSTRUCTION (UK) LTD |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of KD Construction (UK) Ltd for the year ended 31 January 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of KD Construction (UK) Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of KD Construction (UK) Ltd and state those matters that we have agreed to state to the director of KD Construction (UK) Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KD Construction (UK) Ltd and its director for our work or for this report. |
It is your duty to ensure that KD Construction (UK) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of KD Construction (UK) Ltd. You consider that KD Construction (UK) Ltd is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of KD Construction (UK) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
2nd Floor |
10(b) Aldermans Hill |
Palmers Green |
London |
N13 4PJ |