Registered number
08715282
KWD Solutions Limited
Filleted Accounts
31 October 2023
KWD Solutions Limited
Registered number: 08715282
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,289 4,231
Current assets
Debtors 4 131,645 312,808
Cash at bank and in hand 431,209 392,548
562,854 705,356
Creditors: amounts falling due within one year 5 (349,466) (117,982)
Net current assets 213,388 587,374
Total assets less current liabilities 216,677 591,605
Provisions for liabilities (1,035) (1,035)
Net assets 215,642 590,570
Capital and reserves
Called up share capital 895 2,000
Capital redemption reserve 1,105 -
Profit and loss account 213,642 588,570
Shareholders' funds 215,642 590,570
The director is 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 director acknowledges her 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.
K Gilmour
Director
Approved by the board on 9 July 2024
KWD Solutions Limited
Notes to the Accounts
for the year ended 31 October 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 represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
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:
Computer equipment 25% reducing basis
Fixtures and fittings 20% reducing basis
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 4 4
3 Tangible fixed assets
Office and computer equipment Office furnitures Total
£ £ £
Cost
At 1 November 2022 4,472 3,638 8,110
At 31 October 2023 4,472 3,638 8,110
Depreciation
At 1 November 2022 2,569 1,310 3,879
Charge for the year 476 466 942
At 31 October 2023 3,045 1,776 4,821
Net book value
At 31 October 2023 1,427 1,862 3,289
At 31 October 2022 1,903 2,328 4,231
4 Debtors 2023 2022
£ £
Trade debtors 101,071 102,818
Other debtors and prepayments 30,574 209,990
131,645 312,808
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 11,050 3,991
Corporation tax 23,480 44,307
Other taxes and social security costs 59,969 63,864
Other creditors 239,196 1,820
Accruals and deferred income 15,771 4,000
349,466 117,982
6 Other information
KWD Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 Bonhill Street
London
EC2A 4DJ
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