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REGISTERED NUMBER: 13183390 (England and Wales)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 28 February 2023

for

KLS Security & Electrical Ltd

KLS Security & Electrical Ltd (Registered number: 13183390)






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




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


KLS Security & Electrical Ltd

Company Information
for the Year Ended 28 February 2023







DIRECTORS: L A P Doherty
K O Morgan





SECRETARY:





REGISTERED OFFICE: Riverside
Barlings Lane
Langworth
Lincoln
LN3 5DF





REGISTERED NUMBER: 13183390 (England and Wales)





ACCOUNTANTS: G & R Millett T/as G M Agencies
Orchard Cottage
Old Apley
Market Rasen
Lincolnshire
LN8 5JQ

KLS Security & Electrical Ltd (Registered number: 13183390)

Report of the Directors
for the Year Ended 28 February 2023

The directors present their report with the financial statements of the company for the year ended 28 February 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of Security and electrical installations

DIRECTORS
The directors shown below have held office during the whole of the period from 1 March 2022 to the date of this report.

L A P Doherty
K O Morgan

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





K O Morgan - Director


24 November 2023

KLS Security & Electrical Ltd (Registered number: 13183390)

Income Statement
for the Year Ended 28 February 2023

Year Ended Period
28.2.23 5.2.21 to 28.2.22
Notes £    £    £    £   

TURNOVER 112,462 108,496

Cost of sales 49,110 51,505
GROSS PROFIT 63,352 56,991

Distribution costs 11,243 16,101
Administrative expenses 43,401 39,673
54,644 55,774
OPERATING PROFIT 4 8,708 1,217


Interest payable and similar expenses 371 204
PROFIT BEFORE TAXATION 8,337 1,013

Tax on profit - -
PROFIT FOR THE FINANCIAL YEAR 8,337 1,013

KLS Security & Electrical Ltd (Registered number: 13183390)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 40,740 27,174

CURRENT ASSETS
Stocks 4,700 2,750
Debtors 6 9,431 5,636
Cash at bank 12,926 562
27,057 8,948
CREDITORS
Amounts falling due within one year 7 17,518 10,801
NET CURRENT ASSETS/(LIABILITIES) 9,539 (1,853 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

50,279

25,321

CREDITORS
Amounts falling due after more than one year 8 41,007 24,306
NET ASSETS 9,272 1,015

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 9,270 1,013
SHAREHOLDERS' FUNDS 9,272 1,015

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.

KLS Security & Electrical Ltd (Registered number: 13183390)

Balance Sheet - continued
28 February 2023


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

The financial statements were approved by the Board of Directors and authorised for issue on 24 November 2023 and were signed on its behalf by:





K O Morgan - Director


KLS Security & Electrical Ltd (Registered number: 13183390)

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

1. STATUTORY INFORMATION

KLS Security & Electrical 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

KLS Security & Electrical Ltd (Registered number: 13183390)

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

3. EMPLOYEES AND DIRECTORS
Period
5.2.21
Year Ended to
28.2.23 28.2.22
£    £   
Wages and salaries 35,375 32,924
Other pension costs 198 836
35,573 33,760

The average number of employees during the year was as follows:
Period
5.2.21
Year Ended to
28.2.23 28.2.22

Average number of employees 2 2

4. OPERATING PROFIT

The operating profit is stated after charging:

Period
5.2.21
Year Ended to
28.2.23 28.2.22
£    £   
Depreciation - owned assets 5,934 2,011

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 March 2022 2,476 5,078 3,952
Additions - - -
At 28 February 2023 2,476 5,078 3,952
DEPRECIATION
At 1 March 2022 - 71 296
Charge for year - 500 548
At 28 February 2023 - 571 844
NET BOOK VALUE
At 28 February 2023 2,476 4,507 3,108
At 28 February 2022 2,476 5,007 3,656

KLS Security & Electrical Ltd (Registered number: 13183390)

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

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2022 12,731 4,948 29,185
Additions 19,500 - 19,500
At 28 February 2023 32,231 4,948 48,685
DEPRECIATION
At 1 March 2022 1,273 371 2,011
Charge for year 4,200 686 5,934
At 28 February 2023 5,473 1,057 7,945
NET BOOK VALUE
At 28 February 2023 26,758 3,891 40,740
At 28 February 2022 11,458 4,577 27,174

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 8,428 3,751
Amounts recoverable on contract 1,003 1,885
9,431 5,636

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 3,312 104
Social security and other taxes 2,116 1,503
Pensions 136 136
VAT 1,461 639
Directors' current accounts 7,219 7,219
Directors' loan accounts 754 -
Accrued expenses 2,520 1,200
17,518 10,801

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Business Interruption loan 21,482 24,306
HP liabilities 19,525 -
41,007 24,306