Registered number
07271345
KSR BUSINESS SOLUTIONS LTD
Filleted Accounts
31 March 2023
KSR BUSINESS SOLUTIONS LTD
Registered number: 07271345
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 54,073 113,064
Tangible assets 4 6,440 10,109
60,513 123,173
Current assets
Debtors 5 402,333 601,141
Cash at bank and in hand 25,150 18,052
427,483 619,193
Creditors: amounts falling due within one year 6 (286,409) (487,342)
Net current assets 141,074 131,851
Total assets less current liabilities 201,587 255,024
Creditors: amounts falling due after more than one year 7 (35,455) (81,967)
Net assets 166,132 173,057
Capital and reserves
Called up share capital 98,502 98,502
Profit and loss account 67,630 74,555
Shareholders' funds 166,132 173,057
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Stephen Hobbs
Director
Approved by the board on 8 November 2023
KSR BUSINESS SOLUTIONS LTD
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 6
3 Intangible fixed assets £
Franchise cost
Cost
At 1 April 2022 294,953
At 31 March 2023 294,953
Amortisation
At 1 April 2022 181,889
Provided during the year 58,991
At 31 March 2023 240,880
Net book value
At 31 March 2023 54,073
At 31 March 2022 113,064
The initial franchise payment is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 18,342
At 31 March 2023 18,342
Depreciation
At 1 April 2022 8,233
Charge for the year 3,669
At 31 March 2023 11,902
Net book value
At 31 March 2023 6,440
At 31 March 2022 10,109
5 Debtors 2023 2022
£ £
Trade debtors 390,053 583,437
Other debtors 12,280 17,704
402,333 601,141
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 46,291 49,673
Trade creditors 29,636 17,572
Taxation and social security costs 181,717 198,260
Other creditors 28,765 221,837
286,409 487,342
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 35,455 81,967
8 Other information
KSR BUSINESS SOLUTIONS LTD is a private company limited by shares and incorporated in England. Its registered office is:
14 Forbes Business Centre,
Kempson Way,
Bury St. Edmunds,
IP32 7AR
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