KK MANAGEMENT LTD
Registered number: 08313766
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 356 475
Current assets
Debtors 4 21,776 22,402
Creditors: amounts falling due within one year 5 (5,545) (3,311)
Net current assets 16,231 19,091
Net assets 16,587 19,566
Capital and reserves
Called up share capital 100 100
Profit and loss account 16,487 19,466
Shareholder's funds 16,587 19,566
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 member has 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.
Miss Amber Masood Sheikh
Director
Approved by the board on 11 July 2024
KK MANAGEMENT LTD
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
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:
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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 1 1
3 Tangible fixed assets
Office equipments
£
Cost
At 1 December 2022 2,500
At 30 November 2023 2,500
Depreciation
At 1 December 2022 2,025
Charge for the year 119
At 30 November 2023 2,144
Net book value
At 30 November 2023 356
At 30 November 2022 475
4 Debtors 2023 2022
£ £
Trade debtors 24,000 18,750
Other debtors (2,224) 3,652
21,776 22,402
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts (500) (500)
Corporation tax 5,432 3,298
Other creditors 613 513
5,545 3,311
6 Other information
KK MANAGEMENT LTD is a private company limited by shares and incorporated in England. Its registered office is:
8 Ridley Close
Barking
Essex
IG11 9PJ
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