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REGISTERED NUMBER: 09561655 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2023

for

K L A S Mortgage Services Ltd

K L A S Mortgage Services Ltd (Registered number: 09561655)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

K L A S Mortgage Services Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: K W Gandy





REGISTERED OFFICE: The Granary
Crowhill Farm
Ravensden Road
Wilden
Bedfordshire
MK44 2QS





REGISTERED NUMBER: 09561655 (England and Wales)





ACCOUNTANTS: GREGORY WILDMAN
The Granary
Crowhill Farm
Ravensden Road
Wilden
Bedfordshire
MK44 2QS

K L A S Mortgage Services Ltd (Registered number: 09561655)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 679 92

CURRENT ASSETS
Debtors 5 6,881 12,054
Cash at bank 370 1,456
7,251 13,510
CREDITORS
Amounts falling due within one year 6 7,652 7,466
NET CURRENT (LIABILITIES)/ASSETS (401 ) 6,044
TOTAL ASSETS LESS CURRENT LIABILITIES 278 6,136

CREDITORS
Amounts falling due after more than one year 7 - (5,600 )

PROVISIONS FOR LIABILITIES 8 (175 ) (17 )
NET ASSETS 103 519

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 3 419
SHAREHOLDERS' FUNDS 103 519

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 11 October 2023 and were signed by:





K W Gandy - Director


K L A S Mortgage Services Ltd (Registered number: 09561655)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

K L A S Mortgage Services Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from mortgage advisory services is recognised at the stage of completion of the mortgage case.

Tangible fixed assets
Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives as follows.

Computer Equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all material timing differences.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

K L A S Mortgage Services Ltd (Registered number: 09561655)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2022 1,406
Additions 805
Disposals (422 )
At 31 March 2023 1,789
DEPRECIATION
At 1 April 2022 1,314
Charge for year 218
Eliminated on disposal (422 )
At 31 March 2023 1,110
NET BOOK VALUE
At 31 March 2023 679
At 31 March 2022 92

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 195 395
Directors' current accounts 6,686 11,659
6,881 12,054

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts - 1,600
Trade creditors 2,791 1,350
Tax 2,396 3,425
Other creditors 334 -
Accrued expenses 2,131 1,091
7,652 7,466

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-5 years - 5,600

8. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 175 17

K L A S Mortgage Services Ltd (Registered number: 09561655)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2022 17
Accelerated capital allowances 158
Balance at 31 March 2023 175

The net reversal of expected deferred tax liabilities expected to occur in the next 12 months is £50

At the balance sheet date the company had a £175 deferred tax liability (2022 - £17) relating to accelerated capital allowances.

Factors that may affect future tax charges

An increase in the future main corporation tax rate to 25% from 1 April 2023, from the previously enacted 19% was announced in the budget on 3 March 2021, and substantively enacted on 24 May 2021. The deferred tax balance at the year end has been calculated based on the rate at which the provision is expected to unwind.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary £1.00 100 100

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
K W Gandy
Balance outstanding at start of year 11,659 11,918
Amounts advanced 6,686 11,659
Amounts repaid (11,659 ) (11,918 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,686 11,659

11. RELATED PARTY DISCLOSURES

The amount outstanding at the year-end from Mr K W Gandy was £6,986 (2022 - £11,659).

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
K L A S Mortgage Services 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 Statement of Financial Position. 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 K L A S Mortgage Services Ltd for the year ended 31 March 2023 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, 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 K L A S Mortgage Services Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of K L A S Mortgage Services Ltd and state those matters that we have agreed to state to the director of K L A S Mortgage Services 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 K L A S Mortgage Services Ltd and its director for our work or for this report.

It is your duty to ensure that K L A S Mortgage Services 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 K L A S Mortgage Services Ltd. You consider that K L A S Mortgage Services 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 K L A S Mortgage Services 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.






GREGORY WILDMAN
The Granary
Crowhill Farm
Ravensden Road
Wilden
Bedfordshire
MK44 2QS


11 October 2023