2023-06-012024-05-312024-05-31false10756185KT ELECTRICAL CONTRACTORS 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KT ELECTRICAL CONTRACTORS LTD

Registered Number
10756185
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

KT ELECTRICAL CONTRACTORS LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

TITCOMBE, Kevin

Registered Address

71-75 Shelton Street
Covent Garden
London
WC2H 9JQ

Registered Number

10756185 (England and Wales)
KT ELECTRICAL CONTRACTORS LTD
Statement of Financial Position
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets34,2235,414
4,2235,414
Current assets
Debtors46,40219,278
Cash at bank and on hand15,45310,084
61,85529,362
Creditors amounts falling due within one year4(55,655)(25,075)
Net current assets (liabilities)6,2004,287
Total assets less current liabilities10,4239,701
Provisions for liabilities5(802)-
Net assets9,6219,701
Capital and reserves
Called up share capital11
Profit and loss account9,6209,700
Shareholders' funds9,6219,701
The financial statements were approved and authorised for issue by the Director on 4 August 2024, and are signed on its behalf by:
TITCOMBE, Kevin
Director
Registered Company No. 10756185
KT ELECTRICAL CONTRACTORS LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
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.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
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
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-3
Vehicles5-
Office Equipment-3
2.Average number of employees

20242023
Average number of employees during the year55
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 June 231,22311,28179113,295
Additions234--234
At 31 May 241,45711,28179113,529
Depreciation and impairment
At 01 June 232386,9526917,881
Charge for year4598661001,425
At 31 May 246977,8187919,306
Net book value
At 31 May 247603,463-4,223
At 31 May 239854,3291005,414
4.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts16,6235,304
Taxation and social security22,83113,114
Other creditors1,499415
Accrued liabilities and deferred income14,7026,242
Total55,65525,075
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.
5.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)802-
Total802-