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REGISTERED NUMBER: 12059099 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

KB Electrical Supplies Limited

KB Electrical Supplies Limited (Registered number: 12059099)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KB Electrical Supplies Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: S Bennett





SECRETARY:





REGISTERED OFFICE: Horley Green House
Horley Green Road
Claremount
Halifax
West Yorkshire
HX3 6AS





REGISTERED NUMBER: 12059099 (England and Wales)





ACCOUNTANTS: Horley Green Chartered Accountants
Horley Green House
Horley Green Road
Claremount
Halifax
West Yorkshire
HX3 6AS

KB Electrical Supplies Limited (Registered number: 12059099)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,377 35,107

CURRENT ASSETS
Stocks 73,368 87,468
Debtors 5 122,014 95,154
Prepayments and accrued income 4,989 4,974
Cash in hand - 200
200,371 187,796
CREDITORS
Amounts falling due within one year 6 186,214 178,032
NET CURRENT ASSETS 14,157 9,764
TOTAL ASSETS LESS CURRENT
LIABILITIES

40,534

44,871

CREDITORS
Amounts falling due after more than one year 7 30,000 34,000
NET ASSETS 10,534 10,871

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 10,334 10,671
SHAREHOLDERS' FUNDS 10,534 10,871

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.

KB Electrical Supplies Limited (Registered number: 12059099)

Balance Sheet - continued
31 March 2023


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 17 November 2023 and were signed by:





S Bennett - Director


KB Electrical Supplies Limited (Registered number: 12059099)

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


1. STATUTORY INFORMATION

KB Electrical Supplies 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.

Turnover
Turnover represents the net amount receivable for goods supplied and services provided, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on cost
Motor vehicles - 25% Reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 7 ) .

KB Electrical Supplies Limited (Registered number: 12059099)

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


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 667 36,950 37,617
DEPRECIATION
At 1 April 2022 201 2,309 2,510
Charge for year 70 8,660 8,730
At 31 March 2023 271 10,969 11,240
NET BOOK VALUE
At 31 March 2023 396 25,981 26,377
At 31 March 2022 466 34,641 35,107

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 53,731 58,206
Directors' loan accounts 67,642 33,850
Tax - 3,098
Prepayments 641 -
122,014 95,154

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 17,398 4,576
Hire purchase contracts 30,168 35,767
Trade creditors 116,481 126,639
Tax 2,918 -
Social security and other taxes 4,142 1,745
VAT 13,610 7,808
Accrued expenses 1,497 1,497
186,214 178,032

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Other creditors 30,000 34,000

8. RELATED PARTY DISCLOSURES

The company is controlled by the company director.