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REGISTERED NUMBER: 04660895 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

K2B LIMITED

K2B LIMITED (REGISTERED NUMBER: 04660895)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


K2B LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Mr G Binns
Mrs G Binns





SECRETARY: Mr G Binns





REGISTERED OFFICE: 4 Searles Meadow
Dry Drayton
Cambridgeshire
CB23 8BW





REGISTERED NUMBER: 04660895 (England and Wales)





ACCOUNTANTS: Davey Grover Limited
Chartered Accountants
4 Fenice Court
Phoenix Business Park
Eaton Socon
St. Neots
Cambridgeshire
PE19 8EP

K2B LIMITED (REGISTERED NUMBER: 04660895)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,526 1,578
Investments 5 - 13,000
1,526 14,578

CURRENT ASSETS
Stocks 395,512 554,763
Debtors 6 467,006 590,897
Cash at bank 3,958,887 3,019,474
4,821,405 4,165,134
CREDITORS
Amounts falling due within one year 7 305,481 273,844
NET CURRENT ASSETS 4,515,924 3,891,290
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,517,450

3,905,868

PROVISIONS FOR LIABILITIES 382 300
NET ASSETS 4,517,068 3,905,568

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Capital redemption reserve 500 500
Retained earnings 4,515,568 3,904,068
SHAREHOLDERS' FUNDS 4,517,068 3,905,568

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

K2B LIMITED (REGISTERED NUMBER: 04660895)

STATEMENT OF FINANCIAL POSITION - continued
29 FEBRUARY 2024


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 Board of Directors and authorised for issue on 15 April 2024 and were signed on its behalf by:





Mr G Binns - Director


K2B LIMITED (REGISTERED NUMBER: 04660895)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

K2B 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 - 25% on reducing balance
Computer equipment - 33.3% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

K2B LIMITED (REGISTERED NUMBER: 04660895)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

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.

Consolidation
The company and its subsidiaries comprise a small group. The company has therefore taken advantage of the exemption provided by Section 399 of the Companies Act 2006 not to prepare group accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023 1,682 12,442 14,124
Additions - 933 933
Disposals - (12,442 ) (12,442 )
At 29 February 2024 1,682 933 2,615
DEPRECIATION
At 1 March 2023 736 11,810 12,546
Charge for year 237 564 801
Eliminated on disposal - (12,258 ) (12,258 )
At 29 February 2024 973 116 1,089
NET BOOK VALUE
At 29 February 2024 709 817 1,526
At 28 February 2023 946 632 1,578

K2B LIMITED (REGISTERED NUMBER: 04660895)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2023 13,000
Disposals (13,000 )
At 29 February 2024 -
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 13,000

The investment is currently recognised at cost.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 432,026 544,610
Other debtors 34,980 46,287
467,006 590,897

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 66,666 67,699
Taxation and social security 231,344 197,427
Other creditors 7,471 8,718
305,481 273,844

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 10,020 -
Between one and five years 19,205 -
29,225 -

The annual exposure to operating leases is £10,020.

K2B LIMITED (REGISTERED NUMBER: 04660895)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

9. RELATED PARTY DISCLOSURES

Amazing Grazing Foods Ltd

A company in which K2B Ltd used to own 13% of the share capital, but this was disposed of during the year. The director, Mr G Binns, still owns 24% of the share capital in his own name.

During the year K2B Ltd purchased goods and services from the company totalling £88,744 (2023 - £77,277) which were fully paid for during the year.

During the year K2B Ltd sold goods to the company totalling £1,270 (2023 - £5,353). At the year end no amounts were outstanding (2023 - £40,265 and included within trade debtors).

During the year Amazing Grazing Foods Ltd repaid the balance owed K2B Ltd of £30,000 so no further amounts were outstanding at the year end (2023 - £30,000 and included within other debtors).

These transactions were carried out at an arms length basis and the balance is repayable on demand.

10. ULTIMATE CONTROLLING PARTY

Mr G Binns controls the company by virtue of his shareholding in K2B Holdings Ltd.