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Registered Number: SC306639
England and Wales

 

 

 

KB-TRONICS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
Director Mr K D Brown
Registered Number SC306639
Registered Office 21 Mossgiel Road
Ayr
Ayrshire
KA7 3DL
Accountants Dove Marsh & Jones
1 Andromeda House
Calleva Park
Aldermaston
RG7 8AP
Secretary Mrs M S Brown
1
Report to the directors on the preparation of the unaudited statutory accounts of KB-Tronics Ltd for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of KB-Tronics Ltd for the year ended 31 December 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of KB-Tronics Ltd, as a body, in accordance with the terms of our engagement letter dated 19 August 2024 Our work has been undertaken solely to prepare for your approval the accounts of KB-Tronics Ltd and state those matters that we have agreed to state to the Board of Directors of KB-Tronics Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KB-Tronics Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that KB-Tronics Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of KB-Tronics Ltd. You consider that KB-Tronics Ltd is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of KB-Tronics Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 December 2023



....................................................
Dove Marsh & Jones
1 Andromeda House
Calleva Park
Aldermaston
RG7 8AP
19 August 2024
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 6,709    7,643 
6,709    7,643 
Current assets      
Debtors 4 839    2,012 
Cash at bank and in hand 20,119    17,254 
20,958    19,266 
Creditors: amount falling due within one year 5 (27,651)   (26,893)
Net current assets (6,693)   (7,627)
 
Total assets less current liabilities 16    16 
Net assets 16    16 
 

Capital and reserves
     
Called up share capital 10    10 
Profit and loss account 6    6 
Shareholders' funds 16    16 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 19 August 2024 and were signed by:


-------------------------------
Mr K D Brown
Director
3
General Information
KB-Tronics Ltd is a private company, limited by shares, registered in England and Wales, registration number SC306639, registration address 21 Mossgiel Road, Ayr, Ayrshire, KA7 3DL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 25% Straight Line
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 January 2023 3,632    18,552    22,184 
Additions   1,463    1,463 
Disposals   (1,756)   (1,756)
At 31 December 2023 3,632    18,259    21,891 
Depreciation
At 01 January 2023 2,615    11,926    14,541 
Charge for year 153    2,204    2,357 
On disposals   (1,716)   (1,716)
At 31 December 2023 2,768    12,414    15,182 
Net book values
Closing balance as at 31 December 2023 864    5,845    6,709 
Opening balance as at 01 January 2023 1,017    6,626    7,643 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Prepayments & Accrued Income 674    1,026 
VAT 165    986 
839    2,012 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Corporation Tax 25,898    25,180 
Accrued Expenses 1,680    1,580 
Directors' Current Accounts 73    133 
27,651    26,893 

4