Company Registration No. 05541228 (England and Wales)
KD Bros. Limited
Unaudited accounts
for the year ended 31 August 2023
KD Bros. Limited
Unaudited accounts
Contents
KD Bros. Limited
Statement of financial position
as at 31 August 2023
Tangible assets
4,712,011
3,972,817
Cash at bank and in hand
1,625,335
1,125,993
Creditors: amounts falling due within one year
(1,262,978)
(1,377,887)
Net current assets/(liabilities)
757,330
(22,009)
Total assets less current liabilities
5,469,341
3,950,808
Creditors: amounts falling due after more than one year
(524,334)
-
Provisions for liabilities
Deferred tax
(150,338)
(137,004)
Net assets
4,794,669
3,813,804
Called up share capital
1,000
1,000
Profit and loss account
4,793,669
3,812,804
Shareholders' funds
4,794,669
3,813,804
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2024 and were signed on its behalf by
H Singh Bhambra
Director
Company Registration No. 05541228
KD Bros. Limited
Notes to the Accounts
for the year ended 31 August 2023
KD Bros. Limited is a private company, limited by shares, registered in England and Wales, registration number 05541228. The registered office is 5 Hope Road, Off Regent Street, Leeds, West Yorkshire, LS9 7DU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance basis
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
KD Bros. Limited
Notes to the Accounts
for the year ended 31 August 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Government grants in relation to the Coronavirus are credited to profit and loss account under the accrual method.
Expenditure on research and development is written off in the year in which it is incurred.
4
Intangible fixed assets
Goodwill
At 1 September 2022
386,000
At 1 September 2022
386,000
KD Bros. Limited
Notes to the Accounts
for the year ended 31 August 2023
5
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 September 2022
3,382,994
2,210,230
5,593,224
Additions
693,000
213,454
906,454
At 31 August 2023
4,075,994
2,423,684
6,499,678
At 1 September 2022
6,000
1,614,407
1,620,407
Charge for the year
-
167,260
167,260
At 31 August 2023
6,000
1,781,667
1,787,667
At 31 August 2023
4,069,994
642,017
4,712,011
At 31 August 2022
3,376,994
595,823
3,972,817
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
292,141
130,120
Amounts falling due within one year
Trade debtors
310,758
169,843
Accrued income and prepayments
84,215
60,042
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
452,669
692,998
Obligations under finance leases and hire purchase contracts
38,203
36,511
Trade creditors
43,083
82,459
Taxes and social security
449,015
273,000
Other creditors
280,008
292,919
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
136,893
-
KD Bros. Limited
Notes to the Accounts
for the year ended 31 August 2023
Santander UK PLC hold a fixed and floating charge over assets of the company. At the year end a loan of £840,110 was due to Santander UK PLC.
The ultimate parent company is KD Asset Holdings Limited.
The registered office of KD Asset Holdings Limited is 5 Hope Road, Regent Street, Leeds, LS9 7DU
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Average number of employees
During the year the average number of employees was 36 (2022: 33).