KONSTRUCT NE LIMITED

Company Registration Number:
11030582 (England and Wales)

Unaudited statutory accounts for the year ended 29 October 2023

Period of accounts

Start date: 1 November 2022

End date: 29 October 2023

KONSTRUCT NE LIMITED

Contents of the Financial Statements

for the Period Ended 29 October 2023

Balance sheet
Additional notes
Balance sheet notes

KONSTRUCT NE LIMITED

Balance sheet

As at 29 October 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 162,946 123,681
Total fixed assets: 162,946 123,681
Current assets
Stocks: 4 18,014 11,939
Debtors: 5 206,846 217,992
Cash at bank and in hand: 227,039 62,878
Total current assets: 451,899 292,809
Creditors: amounts falling due within one year: 6 ( 282,882 ) ( 148,588 )
Net current assets (liabilities): 169,017 144,221
Total assets less current liabilities: 331,963 267,902
Creditors: amounts falling due after more than one year: 7 ( 71,486 ) ( 44,759 )
Provision for liabilities: ( 20,562 ) ( 10,355 )
Total net assets (liabilities): 239,915 212,788
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 239,815 212,688
Total Shareholders' funds: 239,915 212,788

The notes form part of these financial statements

KONSTRUCT NE LIMITED

Balance sheet statements

For the year ending 29 October 2023 the company was entitled to exemption 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 29 July 2024
and signed on behalf of the board by:

Name: Andrew Gordon
Status: Director

The notes form part of these financial statements

KONSTRUCT NE LIMITED

Notes to the Financial Statements

for the Period Ended 29 October 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at fair value of the consideration received or receivable, net of discounts and value added tax. Turnover includes revenue earned from the 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. If at the balance sheet date completion of the contract is dependent on external factors, then the revenue is recognised only when the event occurs. In such cases direct costs incurred up to thebalance sheet date plus an overhead rate are recognised as revenue to the extent that they are recoverable.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.DepreciationDepreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets, other than freehold land, over their expected useful lives. The annual rates and methods of depreciation are as follows:Plant and machinery - 25% reducing balance basisFurniture, fittings and equipment - 25% straight line basisMotor vehicles - 25% reducing balance basisFixed assets are assessed at each reporting date to determine whether there is any indication that the assets are impaired. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared to its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised in the profit and loss account. The reversal of an impairment loss is recognised immediately in the profit and loss account.

    Other accounting policies

    StocksStocks are stated at the lower of cost and estimated selling price less costs to complete and sell. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and an appropriate proportion of overhead expenses.DebtorsShort term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised cost using the effective interest method, less any impairment.Cash at bank and in handCash at bank and in hand comprises cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.CreditorsShort term creditors are measured at transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised cost using the effective interest method.LeasesLeases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation. Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the leaseobligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

KONSTRUCT NE LIMITED

Notes to the Financial Statements

for the Period Ended 29 October 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 3 3

KONSTRUCT NE LIMITED

Notes to the Financial Statements

for the Period Ended 29 October 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 November 2022 67,680 46,389 7,533 77,237 198,839
Additions 5,066 102,233 107,299
Disposals ( 62,783 ) ( 62,783 )
Revaluations
Transfers
At 29 October 2023 67,680 51,455 7,533 116,687 243,355
Depreciation
At 1 November 2022 30,213 5,593 39,352 75,158
Charge for year 4,835 989 17,836 23,660
On disposals ( 18,409 ) ( 18,409 )
Other adjustments
At 29 October 2023 35,048 6,582 38,779 80,409
Net book value
At 29 October 2023 67,680 16,407 951 77,908 162,946
At 31 October 2022 67,680 16,176 1,940 37,885 123,681

KONSTRUCT NE LIMITED

Notes to the Financial Statements

for the Period Ended 29 October 2023

4. Stocks

2023 2022
£ £
Stocks 18,014 11,939
Total 18,014 11,939

KONSTRUCT NE LIMITED

Notes to the Financial Statements

for the Period Ended 29 October 2023

5. Debtors

2023 2022
£ £
Trade debtors 132,647 27,506
Prepayments and accrued income 752 1,327
Other debtors 73,447 189,159
Total 206,846 217,992

KONSTRUCT NE LIMITED

Notes to the Financial Statements

for the Period Ended 29 October 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 8,000 8,001
Amounts due under finance leases and hire purchase contracts 23,477 9,518
Trade creditors 23,198 44,369
Taxation and social security 171,490 79,701
Accruals and deferred income 6,800 6,800
Other creditors 49,917 199
Total 282,882 148,588

KONSTRUCT NE LIMITED

Notes to the Financial Statements

for the Period Ended 29 October 2023

7. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Bank loans and overdrafts 12,667 20,667
Amounts due under finance leases and hire purchase contracts 58,819 24,092
Total 71,486 44,759

KONSTRUCT NE LIMITED

Notes to the Financial Statements

for the Period Ended 29 October 2023

8. Financial Commitments

Hire purchase creditors totalling £82,296 (2022: £33,610) are secured by the finance company's title to the assets financed. The net book value of assets under hire purchase is £77,742 (2022: £29,417).Operating leasesThe total of future minimum operating lease payments due within one year is £ Nil (2022 - £6,673).