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Registration number: 11153024

KTL Civil Engineering Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

KTL Civil Engineering Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

KTL Civil Engineering Ltd

Company Information

Directors

Mr P M Dreuitt

Mrs K J Dreuitt

Registered office

Highfield Main Street
Kniveton
Ashbourne
Derbyshire
DE6 1JH

Accountants

Coates and Partners Limited
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

 

KTL Civil Engineering Ltd

(Registration number: 11153024)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

65,823

45,943

Current assets

 

Stocks

1,655

1,655

Debtors

5

66,973

43,655

Cash at bank and in hand

 

47,083

58,498

 

115,711

103,808

Creditors: Amounts falling due within one year

6

(38,547)

(27,942)

Net current assets

 

77,164

75,866

Total assets less current liabilities

 

142,987

121,809

Creditors: Amounts falling due after more than one year

6

(20,594)

(24,769)

Provisions for liabilities

(11,125)

(8,500)

Net assets

 

111,268

88,540

Capital and reserves

 

Called up share capital

100

100

Retained earnings

111,168

88,440

Shareholders' funds

 

111,268

88,540

 

KTL Civil Engineering Ltd

(Registration number: 11153024)
Balance Sheet as at 31 January 2024 (continued)

For the financial year ending 31 January 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland'.

These financial statements have been delivered to the Registrar of Companies in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and directors' report has been taken.

Approved and authorised by the Board on 30 July 2024 and signed on its behalf by:
 

.........................................
Mr P M Dreuitt
Director

   
     
 

KTL Civil Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital incorporated in England and Wales registration number: 11153024.

The address of its registered office is:
Highfield Main Street
Kniveton
Ashbourne
Derbyshire
DE6 1JH
United Kingdom

These financial statements were authorised for issue by the Board on 30 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency is £ sterling.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

KTL Civil Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% straight line basis

Plant and machinery

15% reducing balance basis

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

KTL Civil Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

 

KTL Civil Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 February 2023

2,567

52,200

54,767

Additions

1,324

28,347

29,671

At 31 January 2024

3,891

80,547

84,438

Depreciation

At 1 February 2023

2,567

6,257

8,824

Charge for the year

37

9,754

9,791

At 31 January 2024

2,604

16,011

18,615

Carrying amount

At 31 January 2024

1,287

64,536

65,823

At 31 January 2023

-

45,943

45,943

5

Debtors

Current

2024
£

2023
£

Trade debtors

8,352

11,352

Prepayments

7,026

5,280

Other debtors

51,595

27,023

 

66,973

43,655

 

KTL Civil Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

4,175

3,989

Trade creditors

 

2,437

5,839

Taxation and social security

 

31,935

18,114

 

38,547

27,942

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

20,594

24,769

Non-current loans and borrowings

2024
£

2023
£

HP and finance lease liabilities

20,594

24,769

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

4,175

3,989

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

20,594

24,769

 

KTL Civil Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

8

Related party transactions

Transactions with directors

2024

At 1 February 2023
£

Advances to director
£

Repayments by director
£

At 31 January 2024
£

Mr P M Dreuitt

Directors Loan

27,023

107,147

(82,575)

51,595

2023

At 1 February 2022
£

Advances to director
£

Repayments by director
£

At 31 January 2023
£

Mr P M Dreuitt

Directors Loan

7,508

88,137

(68,622)

27,023

Other transactions with directors

During the period, there were loans between the company and the Director, in the ordinary course of business. There are no formal terms of repayment, interest has been charged at the official rate. The maximum outstanding balance owed by the Director during the period was £51,595, at the balance sheet date the amount due from the Director was £51,595, which was fully repaid by Dividends dated April 2024.