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REGISTERED NUMBER: 07147230 (England and Wales)










Unaudited Financial Statements for the Year Ended 28 February 2023

for

KILLER5 LIMITED

KILLER5 LIMITED (REGISTERED NUMBER: 07147230)

Contents of the Financial Statements
for the Year Ended 28 February 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

KILLER5 LIMITED

Company Information
for the Year Ended 28 February 2023







DIRECTORS: A L Pierce
J W Simmonds
Mrs S J Simmonds
Mrs R A Charles





REGISTERED OFFICE: Telegraph House
59 Wolverhampton Road
Stafford
ST17 4AW





REGISTERED NUMBER: 07147230 (England and Wales)





ACCOUNTANTS: CHEADLES
Chartered Accountants
Telegraph House
59 Wolverhampton Road
Stafford
Staffordshire
ST17 4AW

KILLER5 LIMITED (REGISTERED NUMBER: 07147230)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,376 27,308

CURRENT ASSETS
Stocks 35,000 76,000
Debtors 5 216,187 452,210
Cash at bank and in hand 153,183 163,852
404,370 692,062
CREDITORS
Amounts falling due within one year 6 107,427 71,587
NET CURRENT ASSETS 296,943 620,475
TOTAL ASSETS LESS CURRENT
LIABILITIES

315,319

647,783

PROVISIONS FOR LIABILITIES - 5,149
NET ASSETS 315,319 642,634

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 315,318 642,633
SHAREHOLDERS' FUNDS 315,319 642,634

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:





J W Simmonds - Director


KILLER5 LIMITED (REGISTERED NUMBER: 07147230)

Notes to the Financial Statements
for the Year Ended 28 February 2023


1. STATUTORY INFORMATION

Killer5 Limited 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.

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.

The financial statements are presented in £ sterling.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements, estimates and assumptions that affect the amounts reported for the assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services and goods

When the outcome of the transaction can be estimated reliably, turnover from interior design projects is recognised by reference to the stage of completion at the balance sheet date. Turnover includes the design, fitting and materials related to the installation.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - in accordance with the property
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are stated 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 expenditure incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. In respect of work in progress, cost includes a relevant proportion of overheads according to the stage of completion.

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 balance sheet date.


KILLER5 LIMITED (REGISTERED NUMBER: 07147230)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

Going concern
As a result of the COVID-19 pandemic and its impact on the global economy, the directors have reviewed the risks to the business, and have concluded that it should be treated as a going concern.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 March 2022 24,815 3,469 5,329
Additions - - 516
Disposals - - -
At 28 February 2023 24,815 3,469 5,845
DEPRECIATION
At 1 March 2022 16,113 2,775 4,455
Charge for year 4,963 173 347
Eliminated on disposal - - -
At 28 February 2023 21,076 2,948 4,802
NET BOOK VALUE
At 28 February 2023 3,739 521 1,043
At 28 February 2022 8,702 694 874

KILLER5 LIMITED (REGISTERED NUMBER: 07147230)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2022 19,700 30,458 83,771
Additions - 2,951 3,467
Disposals (9,950 ) - (9,950 )
At 28 February 2023 9,750 33,409 77,288
DEPRECIATION
At 1 March 2022 11,765 21,355 56,463
Charge for year 1,343 3,013 9,839
Eliminated on disposal (7,390 ) - (7,390 )
At 28 February 2023 5,718 24,368 58,912
NET BOOK VALUE
At 28 February 2023 4,032 9,041 18,376
At 28 February 2022 7,935 9,103 27,308

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors and work
in progress 213,346 447,562
Other debtors 2,841 4,648
216,187 452,210

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 8,586 9,429
Trade creditors 25,392 3,451
Taxation and social security 53,117 41,516
Other creditors 20,332 17,191
107,427 71,587

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
28.2.23 28.2.22
£    £   
Within one year 17,500 26,908
Between one and five years - 17,500
17,500 44,408

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Loans from directors are provided interest-free and are repayable on demand.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Killer5 Limited


The following reproduces the text of the report prepared for the directors 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 Directors 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 Killer5 Limited for the year ended 28 February 2023 which comprise the Income Statement, Balance Sheet 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 Board of Directors of Killer5 Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Killer5 Limited and state those matters that we have agreed to state to the Board of Directors of Killer5 Limited, as a body, 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 Killer5 Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Killer5 Limited 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 loss of Killer5 Limited. You consider that Killer5 Limited 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 Killer5 Limited. 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.






CHEADLES
Chartered Accountants
Telegraph House
59 Wolverhampton Road
Stafford
Staffordshire
ST17 4AW


14 November 2023