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Registered number: 09890520
K&B Southall Ltd
Financial Statements
For The Year Ended 30 November 2023
BBK Partnership
Chartered Accountants & Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 09890520
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 98,600 104,400
Tangible Assets 5 93,829 62,818
192,429 167,218
CURRENT ASSETS
Stocks 6 23,039 16,548
Debtors 7 14,699 1,324
Cash at bank and in hand 25,303 183,614
63,041 201,486
Creditors: Amounts Falling Due Within One Year 8 (425,234 ) (427,382 )
NET CURRENT ASSETS (LIABILITIES) (362,193 ) (225,896 )
TOTAL ASSETS LESS CURRENT LIABILITIES (169,764 ) (58,678 )
Creditors: Amounts Falling Due After More Than One Year 9 (12,000 ) (12,000 )
NET LIABILITIES (181,764 ) (70,678 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Income Statement (181,864 ) (70,778 )
SHAREHOLDERS' FUNDS (181,764) (70,678)
Page 1
Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr A Rahimi
Director
26/06/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
K&B Southall Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09890520 . The registered office is 154 The Broadway, Southall, UB1 1NN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15%
Motor Vehicles 20%
Fixtures & Fittings 20%
Computer Equipment 18%
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 40 (2022: 29)
40 29
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Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 145,000
As at 30 November 2023 145,000
Amortisation
As at 1 December 2022 40,600
Provided during the period 5,800
As at 30 November 2023 46,400
Net Book Value
As at 30 November 2023 98,600
As at 1 December 2022 104,400
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 December 2022 41,210 - 132,618 3,672 177,500
Additions 12,683 37,719 - 1,925 52,327
As at 30 November 2023 53,893 37,719 132,618 5,597 229,827
Depreciation
As at 1 December 2022 21,462 - 92,222 998 114,682
Provided during the period 4,864 7,544 8,080 828 21,316
As at 30 November 2023 26,326 7,544 100,302 1,826 135,998
Net Book Value
As at 30 November 2023 27,567 30,175 32,316 3,771 93,829
As at 1 December 2022 19,748 - 40,396 2,674 62,818
6. Stocks
2023 2022
£ £
Finished goods 23,039 16,548
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Page 5
7. Debtors
2023 2022
£ £
Due within one year
Other debtors 14,699 1,324
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 122,347 112,613
Amounts owed to group undertakings (50,000 ) (50,000 )
Other creditors 330,789 344,951
Taxation and social security 22,098 19,818
425,234 427,382
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans - 1-2 years 12,000 12,000
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 5