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Registered number: 12068233
K Singh Builders Ltd
Financial Statements
For The Year Ended 30 June 2023
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12068233
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 5,040 5,670
Tangible Assets 5 10,944 14,592
15,984 20,262
CURRENT ASSETS
Cash at bank and in hand 15,815 16,463
15,815 16,463
Creditors: Amounts Falling Due Within One Year 6 (39,934 ) (40,572 )
NET CURRENT ASSETS (LIABILITIES) (24,119 ) (24,109 )
TOTAL ASSETS LESS CURRENT LIABILITIES (8,135 ) (3,847 )
NET LIABILITIES (8,135 ) (3,847 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account (8,235 ) (3,947 )
SHAREHOLDERS' FUNDS (8,135) (3,847)
Page 1
Page 2
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
K Singh
Director
28th March 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
K Singh Builders Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12068233 . The registered office is 45 Highway Road Thurmaston, Leicester, LE4 8FR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 20% on cost
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 1)
2 1
4. Intangible Assets
Other
£
Cost
As at 1 July 2022 6,300
As at 30 June 2023 6,300
Amortisation
As at 1 July 2022 630
Provided during the period 630
As at 30 June 2023 1,260
Net Book Value
As at 30 June 2023 5,040
As at 1 July 2022 5,670
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5. Tangible Assets
Motor Vehicles
£
Cost
As at 1 July 2022 18,240
As at 30 June 2023 18,240
Depreciation
As at 1 July 2022 3,648
Provided during the period 3,648
As at 30 June 2023 7,296
Net Book Value
As at 30 June 2023 10,944
As at 1 July 2022 14,592
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - (1 )
Net wages 1,714 3,143
Accruals and deferred income 900 1,000
Director's loan account 37,320 36,430
39,934 40,572
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
8. Directors Advances, Credits and Guarantees
The following advances and credits to directors subsisted during the current and prior periods:
As at 1 July 2022 Amounts advanced Amounts repaid Amounts written off As at 30 June 2023
£ £ £ £ £
Mr. Kulwinder Singh (36,430 ) - (890 ) - (37,320 )
The above loan is unsecured, interest free and repayable on demand.
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