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REGISTERED NUMBER: 06843121 (England and Wales)















Unaudited Financial Statements

for the Year Ended

31 March 2023

for

KNG Business Services Ltd

KNG Business Services Ltd (Registered number: 06843121)

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


KNG Business Services Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: K N Gamage





SECRETARY: Mrs K Gamage





REGISTERED OFFICE: Charnwood House
Harcourt Way
Meridian Business Park
Leicestershire
LE19 1WP





REGISTERED NUMBER: 06843121 (England and Wales)





ACCOUNTANTS: The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP

KNG Business Services Ltd (Registered number: 06843121)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,020 853
1,020 853

CURRENT ASSETS
Debtors 6 6,727 6,764
Cash at bank 11,600 11,456
18,327 18,220
CREDITORS
Amounts falling due within one year 7 17,660 18,803
NET CURRENT ASSETS/(LIABILITIES) 667 (583 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,687

270

PROVISIONS FOR LIABILITIES 194 162
NET ASSETS 1,493 108

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 1,491 106
SHAREHOLDERS' FUNDS 1,493 108

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.

KNG Business Services Ltd (Registered number: 06843121)

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 31 October 2023 and were signed by:





K N Gamage - Director


KNG Business Services Ltd (Registered number: 06843121)

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


1. STATUTORY INFORMATION

KNG Business 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.

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 net invoiced sales of services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% reducing balance

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.

KNG Business Services Ltd (Registered number: 06843121)

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


3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 60,000
AMORTISATION
At 1 April 2022
and 31 March 2023 60,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2022 3,885
Additions 607
Disposals (1,092 )
At 31 March 2023 3,400
DEPRECIATION
At 1 April 2022 3,032
Charge for year 340
Eliminated on disposal (992 )
At 31 March 2023 2,380
NET BOOK VALUE
At 31 March 2023 1,020
At 31 March 2022 853

KNG Business Services Ltd (Registered number: 06843121)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 5,640 4,826
Prepayments and accrued income 1,087 1,938
6,727 6,764

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors - 31
Corporation tax 3,660 3,373
Social security and other taxes 2,187 1,053
VAT 4,201 4,216
Directors' current accounts 7,612 10,130
17,660 18,803

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
2 Ordinary £1 2 2