Registered number
08075050
KREK CONSULTING LTD
Filleted Accounts
31 May 2023
KREK CONSULTING LTD
Registered number: 08075050
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 46,700 4,432
Investments 4 20,000 20,000
66,700 24,432
Current assets
Cash at bank and in hand 134,487 16,071
Creditors: amounts falling due within one year 5 (76,241) (3,337)
Net current assets 58,246 12,734
Total assets less current liabilities 124,946 37,166
Creditors: amounts falling due after more than one year 6 (48,409) (20,203)
Net assets 76,537 16,963
Capital and reserves
Called up share capital 100 100
Profit and loss account 76,437 16,863
Shareholders' funds 76,537 16,963
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.
Rotimi Komeh Uwadia
Director
Approved by the board on 23 February 2024
KREK CONSULTING LTD
Notes to the Accounts
for the year ended 31 May 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.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2022 6,897 5,842 12,739
Additions 528 54,090 54,618
At 31 May 2023 7,425 59,932 67,357
Depreciation
At 1 June 2022 2,465 5,842 8,307
Charge for the year 1,540 10,810 12,350
At 31 May 2023 4,005 16,652 20,657
Net book value
At 31 May 2023 3,420 43,280 46,700
At 31 May 2022 4,432 - 4,432
4 Investments
Other
investments
£
Cost
At 1 June 2022 20,000
At 31 May 2023 20,000
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 12,871 1,217
Other creditors 63,370 2,120
76,241 3,337
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 17,119 20,203
Obligations under finance lease and hire purchase contracts 31,290 -
48,409 20,203
7 Other information
KREK CONSULTING LTD is a private company limited by shares and incorporated in England. Its registered office is:
4th Floor City Gate House
246-250 ROMFORD ROAD
FOREST GATE
LONDON
E7 9HZ
KREK CONSULTING LTD 08075050 false 2022-06-01 2023-05-31 2023-05-31 VT Final Accounts April 2022 Rotimi Komeh Uwadia No description of principal activity 08075050 2021-06-01 2022-05-31 08075050 core:WithinOneYear 2022-05-31 08075050 core:AfterOneYear 2022-05-31 08075050 core:ShareCapital 2022-05-31 08075050 core:RetainedEarningsAccumulatedLosses 2022-05-31 08075050 2022-06-01 2023-05-31 08075050 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 08075050 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 08075050 bus:Director40 2022-06-01 2023-05-31 08075050 1 2022-06-01 2023-05-31 08075050 2 2022-06-01 2023-05-31 08075050 core:PlantMachinery 2022-06-01 2023-05-31 08075050 core:Vehicles 2022-06-01 2023-05-31 08075050 countries:England 2022-06-01 2023-05-31 08075050 bus:FRS102 2022-06-01 2023-05-31 08075050 bus:FullAccounts 2022-06-01 2023-05-31 08075050 2023-05-31 08075050 core:WithinOneYear 2023-05-31 08075050 core:AfterOneYear 2023-05-31 08075050 core:ShareCapital 2023-05-31 08075050 core:RetainedEarningsAccumulatedLosses 2023-05-31 08075050 core:PlantMachinery 2023-05-31 08075050 core:Vehicles 2023-05-31 08075050 2022-05-31 08075050 core:PlantMachinery 2022-05-31 08075050 core:Vehicles 2022-05-31 iso4217:GBP xbrli:pure