KIS Electrical Limited
Unaudited Financial Statements
For the year ended 31 March 2023
Pages for Filing with Registrar
Company Registration No. 08807859 (England and Wales)
KIS Electrical Limited
Company Information
Director
I Sutherland
Company number
08807859
Registered office
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Accountants
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
KIS Electrical Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
KIS Electrical Limited
Balance Sheet
As at 31 March 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
9,897
21,569
Current assets
Stock
91,151
103,706
Debtors
4
117,078
75,826
208,229
179,532
Creditors: amounts falling due within one year
5
(174,097)
(137,348)
Net current assets
34,132
42,184
Total assets less current liabilities
44,029
63,753
Creditors: amounts falling due after more than one year
6
(17,353)
(37,703)
Net assets
26,676
26,050
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
26,576
25,950
Total equity
26,676
26,050
KIS Electrical Limited
Balance Sheet (Continued)
As at 31 March 2023
Page 2

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 9 February 2024
I Sutherland
Director
Company Registration No. 08807859
KIS Electrical Limited
Notes to the Financial Statements
For the year ended 31 March 2023
Page 3
1
Accounting policies
Company information

KIS Electrical Limited is a private company limited by shares incorporated in England and Wales. The registered office is Orbital House, 20 Eastern Road, Romford, Essex, RM1 3PJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention and the principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% reducing balance method
Fixtures and fittings
25% reducing balance method
Motor vehicles
20% reducing balance method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stock

Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition.

 

1.5
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments
All of the company's financial assets and liabilities are basic and measured at amortised cost.
1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

KIS Electrical Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2023
1
Accounting policies
(Continued)
Page 4
1.8
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 7 (2022 - 8).

3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022
54,241
Additions
926
Disposals
(18,827)
At 31 March 2023
36,340
Depreciation and impairment
At 1 April 2022
32,672
Depreciation charged in the year
2,556
Eliminated in respect of disposals
(8,785)
At 31 March 2023
26,443
Carrying amount
At 31 March 2023
9,897
At 31 March 2022
21,569
KIS Electrical Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2023
Page 5
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
87,689
59,803
Other debtors
29,389
16,023
117,078
75,826
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
17,030
17,047
Trade creditors
110,639
74,832
Corporation tax
427
426
Other taxation and social security
28,589
5,393
Other creditors
16,212
38,450
Accruals and deferred income
1,200
1,200
174,097
137,348
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
17,353
33,205
Other creditors
-
4,498
17,353
37,703
7
Called up share capital
2023
2022
Ordinary share capital
£
£
Issued and fully paid
100 Ordinary shares of £1 each
100
100
KIS Electrical Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2023
Page 6
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
Within one year
-
0
4,690
Between two and five years
-
0
4,498
-
0
9,188
2023-03-312022-04-01false09 February 2024CCH SoftwareCCH Accounts Production 2023.200No description of principal activityI Sutherland088078592022-04-012023-03-3108807859bus:Director12022-04-012023-03-3108807859bus:RegisteredOffice2022-04-012023-03-31088078592023-03-31088078592022-03-3108807859core:OtherPropertyPlantEquipment2023-03-3108807859core:OtherPropertyPlantEquipment2022-03-3108807859core:CurrentFinancialInstruments2023-03-3108807859core:CurrentFinancialInstruments2022-03-3108807859core:Non-currentFinancialInstruments2023-03-3108807859core:Non-currentFinancialInstruments2022-03-3108807859core:ShareCapital2023-03-3108807859core:ShareCapital2022-03-3108807859core:RetainedEarningsAccumulatedLosses2023-03-3108807859core:RetainedEarningsAccumulatedLosses2022-03-3108807859core:PlantMachinery2022-04-012023-03-3108807859core:FurnitureFittings2022-04-012023-03-3108807859core:MotorVehicles2022-04-012023-03-3108807859core:OtherPropertyPlantEquipment2022-03-3108807859core:OtherPropertyPlantEquipment2022-04-012023-03-3108807859core:WithinOneYear2023-03-3108807859core:WithinOneYear2022-03-3108807859core:BetweenTwoFiveYears2023-03-3108807859core:BetweenTwoFiveYears2022-03-3108807859bus:PrivateLimitedCompanyLtd2022-04-012023-03-3108807859bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3108807859bus:FRS1022022-04-012023-03-3108807859bus:AuditExemptWithAccountantsReport2022-04-012023-03-3108807859bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP