19 false false false false false false false false false false true false false false false false false No description of principal activity 2022-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 5,000 3,917 500 4,417 583 1,083 xbrli:pure xbrli:shares iso4217:GBP 03597240 2022-06-01 2023-05-31 03597240 2023-05-31 03597240 2022-05-31 03597240 2021-06-01 2022-05-31 03597240 2022-05-31 03597240 2021-05-31 03597240 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-06-01 2023-05-31 03597240 core:LandBuildings 2022-06-01 2023-05-31 03597240 core:PlantMachinery 2022-06-01 2023-05-31 03597240 core:FurnitureFittings 2022-06-01 2023-05-31 03597240 core:MotorVehicles 2022-06-01 2023-05-31 03597240 bus:Director3 2022-06-01 2023-05-31 03597240 bus:Director4 2022-06-01 2023-05-31 03597240 core:WithinOneYear 2023-05-31 03597240 core:WithinOneYear 2022-05-31 03597240 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-05-31 03597240 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-31 03597240 core:LandBuildings 2022-05-31 03597240 core:PlantMachinery 2022-05-31 03597240 core:FurnitureFittings 2022-05-31 03597240 core:MotorVehicles 2022-05-31 03597240 core:LandBuildings 2023-05-31 03597240 core:PlantMachinery 2023-05-31 03597240 core:FurnitureFittings 2023-05-31 03597240 core:MotorVehicles 2023-05-31 03597240 core:AfterOneYear 2023-05-31 03597240 core:AfterOneYear 2022-05-31 03597240 core:ShareCapital 2023-05-31 03597240 core:ShareCapital 2022-05-31 03597240 core:CapitalRedemptionReserve 2023-05-31 03597240 core:CapitalRedemptionReserve 2022-05-31 03597240 core:RetainedEarningsAccumulatedLosses 2023-05-31 03597240 core:RetainedEarningsAccumulatedLosses 2022-05-31 03597240 core:BetweenOneFiveYears 2023-05-31 03597240 core:BetweenOneFiveYears 2022-05-31 03597240 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-05-31 03597240 core:LandBuildings 2022-05-31 03597240 core:PlantMachinery 2022-05-31 03597240 core:FurnitureFittings 2022-05-31 03597240 core:MotorVehicles 2022-05-31 03597240 bus:SmallEntities 2022-06-01 2023-05-31 03597240 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 03597240 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 03597240 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 03597240 bus:FullAccounts 2022-06-01 2023-05-31 03597240 core:ComputerEquipment 2022-06-01 2023-05-31 03597240 core:ComputerEquipment 2022-05-31 03597240 core:ComputerEquipment 2023-05-31 03597240 core:KeyManagementIndividualGroup1 2022-06-01 2023-05-31 03597240 core:KeyManagementIndividualGroup1 2023-05-31
COMPANY REGISTRATION NUMBER: 03597240
KJB Limited T/A Signs Express
Filleted Unaudited Financial Statements
For the year ended
31 May 2023
KJB Limited T/A Signs Express
Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
£
£
Fixed assets
Intangible assets
5
583
1,083
Tangible assets
6
308,074
294,913
----------
----------
308,657
295,996
Current assets
Stocks
6,472
7,438
Debtors
7
372,197
361,696
Cash at bank and in hand
51,799
73,359
----------
----------
430,468
442,493
Creditors: amounts falling due within one year
8
455,500
478,506
----------
----------
Net current liabilities
25,032
36,013
----------
----------
Total assets less current liabilities
283,625
259,983
Creditors: amounts falling due after more than one year
9
63,783
23,996
Provisions
Taxation including deferred tax
58,484
54,506
----------
----------
Net assets
161,358
181,481
----------
----------
KJB Limited T/A Signs Express
Statement of Financial Position (continued)
31 May 2023
2023
2022
Note
£
£
£
£
Capital and reserves
Called up share capital
20
20
Capital redemption reserve
80
80
Profit and loss account
161,258
181,381
----------
----------
Shareholders funds
161,358
181,481
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 11 October 2023 , and are signed on behalf of the board by:
Mr M C Bevis
Ms C L Lindley
Director
Director
Company registration number: 03597240
KJB Limited T/A Signs Express
Notes to the Financial Statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Venture Business Park, Gilbey Road, Grimsby, N E Lincolnshire, DN31 2UW.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basisThe financial statements are prepared in sterling, which is the functional currency of the entity. (b) Going concern In March 2020 the UK was impacted by the outbreak of Covid-19. The Government imposed significant restrictions at that time in an effort to manage the spread of the virus which resulted in the company having to review and change its working practices to ensure compliance with these restrictions. More latterly, the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis. (c) Revenue recognition Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. (d) Current and deferred tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference. (e) Intangible assets Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses .
(f) Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Franchise fee
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
(g) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(h) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
L/hold Improvements
-
2% straight line
Plant and Machinery
-
25% reducing balance
Fixtures and Fittings
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Office Equipment
-
25% reducing balance
(i) Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
(j) Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
(k) Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
(l) Government grants
Deferred government grants in respect of capital expenditure are treated as deferred income and are credited to the profit and loss account over the estimated useful life of the assets to which they relate. Government grants of a revenue nature are recognised in the profit and loss account when all conditions for entitlement to the grant are satisfied.
(m) Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
(n) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 19 (2022: 21 ).
5. Intangible assets
Franchise fee
£
Cost
At 1 June 2022 and 31 May 2023
5,000
-------
Amortisation
At 1 June 2022
3,917
Charge for the year
500
-------
At 31 May 2023
4,417
-------
Carrying amount
At 31 May 2023
583
-------
At 31 May 2022
1,083
-------
6. Tangible assets
Leasehold Property Improvem't
Plant and machinery
Fixtures and fittings
Motor vehicles
Computer Equipment
Total
£
£
£
£
£
£
Cost
At 1 Jun 2022
214,182
592,586
46,372
193,936
67,113
1,114,189
Additions
88,795
6,615
95,410
----------
----------
--------
----------
--------
-------------
At 31 May 2023
214,182
681,381
46,372
193,936
73,728
1,209,599
----------
----------
--------
----------
--------
-------------
Depreciation
At 1 Jun 2022
148,984
462,200
36,442
128,537
43,113
819,276
Charge for the year
16,300
40,516
2,398
16,350
6,685
82,249
----------
----------
--------
----------
--------
-------------
At 31 May 2023
165,284
502,716
38,840
144,887
49,798
901,525
----------
----------
--------
----------
--------
-------------
Carrying amount
At 31 May 2023
48,898
178,665
7,532
49,049
23,930
308,074
----------
----------
--------
----------
--------
-------------
At 31 May 2022
65,198
130,386
9,930
65,399
24,000
294,913
----------
----------
--------
----------
--------
-------------
7. Debtors
2023
2022
£
£
Trade debtors
357,240
342,344
Prepayments
8,862
8,093
Amounts recoverable on contracts
6,095
11,209
Other debtors
50
----------
----------
372,197
361,696
----------
----------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
125,632
156,457
Amounts owed to group undertakings
197,600
128,800
Accruals and deferred income
5,551
6,080
Corporation tax
23,752
45,397
Social security and other taxes
32,457
33,495
Obligations under finance leases and hire purchase contracts
38,692
46,748
Director loan accounts
675
36,148
Other creditors
31,141
25,381
----------
----------
455,500
478,506
----------
----------
The hire purchase creditors are secured on the relevant assets under the agreement.
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Obligations under finance leases and hire purchase contracts
61,142
20,475
Deferred Income (Government Grants)
2,641
3,521
--------
--------
63,783
23,996
--------
--------
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
15,208
17,902
Later than 1 year and not later than 5 years
1,030
16,237
--------
--------
16,238
34,139
--------
--------
11. Related party transactions
During the year the directors made available loans totalling £ 675 . The loans are repayable on demand. Interest is charged on the loans at 1% above the Bank of England base rate.
12. Controlling party
The company is a 80% subsidiary of Calm Attire Holdings Limited , a company registered in England and Wales.