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Company registration number: 08755019
KEVOB LIMITED
UNAUDITED FILLETED FINANCIAL STATEMENTS
31 March 2024
KEVOB LIMITED
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
KEVOB LIMITED
STATEMENT OF FINANCIAL POSITION
31 MARCH 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 22,203 28,296
_______ _______
22,203 28,296
Current assets
Stocks 1,350 1,150
Debtors 6 180,076 157,192
Cash at bank and in hand 149,319 171,405
_______ _______
330,745 329,747
Creditors: amounts falling due
within one year 7 ( 134,632) ( 175,041)
_______ _______
Net current assets 196,113 154,706
_______ _______
Total assets less current liabilities 218,316 183,002
_______ _______
Net assets 218,316 183,002
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 218,216 182,902
_______ _______
Shareholders funds 218,316 183,002
_______ _______
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 05 July 2024 , and are signed on behalf of the board by:
Mr Kevin O'Brien
Director
Company registration number: 08755019
KEVOB LIMITED
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 31 MARCH 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2022 100 169,333 169,433
Profit for the year 83,569 83,569
_______ _______ _______
Total comprehensive income for the year - 83,569 83,569
Dividends paid and payable ( 70,000) ( 70,000)
_______ _______ _______
Total investments by and distributions to owners - ( 70,000) ( 70,000)
_______ _______ _______
At 31 March 2023 and 1 April 2023 100 182,902 183,002
Profit for the year 105,314 105,314
_______ _______ _______
Total comprehensive income for the year - 105,314 105,314
Dividends paid and payable ( 70,000) ( 70,000)
_______ _______ _______
Total investments by and distributions to owners - ( 70,000) ( 70,000)
_______ _______ _______
At 31 March 2024 100 218,216 218,316
_______ _______ _______
KEVOB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Lynwood, Bridgewater Street, Whitchurchuch, Shropshire, SY13 1QJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 39,257 17,708 23,904 80,869
Additions - 208 - 208
_______ _______ _______ _______
At 31 March 2024 39,257 17,916 23,904 81,077
_______ _______ _______ _______
Depreciation
At 1 April 2023 27,617 10,843 14,113 52,573
Charge for the year 2,328 1,958 2,015 6,301
_______ _______ _______ _______
At 31 March 2024 29,945 12,801 16,128 58,874
_______ _______ _______ _______
Carrying amount
At 31 March 2024 9,312 5,115 7,776 22,203
_______ _______ _______ _______
At 31 March 2023 11,640 6,865 9,791 28,296
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 87,270 92,594
Other debtors 92,806 64,598
_______ _______
180,076 157,192
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 15,638 17,995
Corporation tax 35,537 19,534
Social security and other taxes 9,251 11,643
Other creditors 74,206 125,869
_______ _______
134,632 175,041
_______ _______