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REGISTERED NUMBER: 04040107 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2023

FOR

K.S.B. ELECTRONICS LIMITED

K.S.B. ELECTRONICS LIMITED (REGISTERED NUMBER: 04040107)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


K.S.B. ELECTRONICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 5 APRIL 2023







DIRECTOR: Mr Garry Brown



REGISTERED OFFICE: 1&2 Mercia Business Village
Torwood Close
Westwood Business Park
Coventry
West Midlands
CV4 8HX



REGISTERED NUMBER: 04040107 (England and Wales)



ACCOUNTANTS: Armstrongs
Chartered Accountants and Tax Advisers
1 & 2 Mercia Village
Torwood Close
Westwood Business Park
Coventry
West Midlands
CV4 8HX



BANKERS: Barclays Bank PLC
Leicester
Leicestershire
LE87 2BB

K.S.B. ELECTRONICS LIMITED (REGISTERED NUMBER: 04040107)

BALANCE SHEET
5 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 835 1,461

CURRENT ASSETS
Stocks 1,560 1,967
Debtors 5 26,094 16,037
Cash at bank 1,402 1,385
29,056 19,389
CREDITORS
Amounts falling due within one year 6 24,526 17,761
NET CURRENT ASSETS 4,530 1,628
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,365

3,089

CREDITORS
Amounts falling due after more than one
year

7

(5,177

)

-

PROVISIONS FOR LIABILITIES (95 ) (200 )
NET ASSETS 93 2,889

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8 (7 ) 2,789
SHAREHOLDERS' FUNDS 93 2,889

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 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.

K.S.B. ELECTRONICS LIMITED (REGISTERED NUMBER: 04040107)

BALANCE SHEET - continued
5 APRIL 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 25 January 2024 and were signed by:





Mr Garry Brown - Director


K.S.B. ELECTRONICS LIMITED (REGISTERED NUMBER: 04040107)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

1. STATUTORY INFORMATION

K.S.B. Electronics 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Fixtures and fittings - 30% on reducing balance
Computer equipment - 33% on cost

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.

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.

K.S.B. ELECTRONICS LIMITED (REGISTERED NUMBER: 04040107)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2023

2. ACCOUNTING POLICIES - continued

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 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 6 April 2022
and 5 April 2023 25,340 4,261 29,601
DEPRECIATION
At 6 April 2022 24,580 3,560 28,140
Charge for year 228 398 626
At 5 April 2023 24,808 3,958 28,766
NET BOOK VALUE
At 5 April 2023 532 303 835
At 5 April 2022 760 701 1,461

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 15,674 10,211
Other debtors 4,216 4,570
Directors' current accounts 6,204 1,256
26,094 16,037

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 1,255 -
Corporation tax 7,301 3,509
Wages Control Account 472 410
VAT 4,214 1,300
Other creditors 8,866 10,304
Accrued expenses 2,418 2,238
24,526 17,761

K.S.B. ELECTRONICS LIMITED (REGISTERED NUMBER: 04040107)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 2,511 -
Bank loans - 2-5 years 2,666 -
5,177 -

8. RESERVES
Retained
earnings
£   

At 6 April 2022 2,789
Profit for the year 14,754
Dividends (17,550 )
At 5 April 2023 (7 )