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REGISTERED NUMBER: 07844140 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 November 2023

for

KGK SCAFFOLDING LIMITED

KGK SCAFFOLDING LIMITED (REGISTERED NUMBER: 07844140)

Contents of the Financial Statements
for the year ended 30 November 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KGK SCAFFOLDING LIMITED

Company Information
for the year ended 30 November 2023







Directors: N Gjura
Mrs M Gjura





Registered office: 10 Leconfield Walk
Hornchurch
Essex
RM12 6NZ





Registered number: 07844140 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

KGK SCAFFOLDING LIMITED (REGISTERED NUMBER: 07844140)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 297,348 364,082
Investment property 6 - 59,500
297,348 423,582

Current assets
Debtors 7 534,610 498,911
Cash at bank 181,041 159,101
715,651 658,012
Creditors
Amounts falling due within one year 8 508,103 328,821
Net current assets 207,548 329,191
Total assets less current liabilities 504,896 752,773

Creditors
Amounts falling due after more than one
year

9

(183,845

)

(528,924

)

Provisions for liabilities 10 (56,500 ) (65,800 )
Net assets 264,551 158,049

Capital and reserves
Called up share capital 11 100 100
Retained earnings 12 264,451 157,949
Shareholders' funds 264,551 158,049

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

KGK SCAFFOLDING LIMITED (REGISTERED NUMBER: 07844140)

Balance Sheet - continued
30 November 2023


The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 12 August 2024 and were signed on its behalf by:





N Gjura - Director


KGK SCAFFOLDING LIMITED (REGISTERED NUMBER: 07844140)

Notes to the Financial Statements
for the year ended 30 November 2023


1. Statutory information

KGK Scaffolding Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

KGK SCAFFOLDING LIMITED (REGISTERED NUMBER: 07844140)

Notes to the Financial Statements - continued
for the year ended 30 November 2023


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 4 (2022 - 5 ) .

KGK SCAFFOLDING LIMITED (REGISTERED NUMBER: 07844140)

Notes to the Financial Statements - continued
for the year ended 30 November 2023


4. Intangible fixed assets
Goodwill
£   
Cost
At 1 December 2022
and 30 November 2023 10,000
Amortisation
At 1 December 2022
and 30 November 2023 10,000
Net book value
At 30 November 2023 -
At 30 November 2022 -

5. Tangible fixed assets
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 December 2022 339,260 25,503 308,646 24,806 698,215
Additions 13,824 - - 1,796 15,620
At 30 November 2023 353,084 25,503 308,646 26,602 713,835
Depreciation
At 1 December 2022 169,969 19,188 128,917 16,059 334,133
Charge for year 22,522 2,503 55,179 2,150 82,354
At 30 November 2023 192,491 21,691 184,096 18,209 416,487
Net book value
At 30 November 2023 160,593 3,812 124,550 8,393 297,348
At 30 November 2022 169,291 6,315 179,729 8,747 364,082

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
Cost
At 1 December 2022
and 30 November 2023 9,490
Depreciation
At 1 December 2022 5,180
Charge for year 1,898
At 30 November 2023 7,078
Net book value
At 30 November 2023 2,412
At 30 November 2022 4,310

KGK SCAFFOLDING LIMITED (REGISTERED NUMBER: 07844140)

Notes to the Financial Statements - continued
for the year ended 30 November 2023


6. Investment property
Total
£   
Fair value
At 1 December 2022 59,500
Disposals (59,500 )
At 30 November 2023 -
Net book value
At 30 November 2023 -
At 30 November 2022 59,500

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2022 59,500

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 86,583 86,583

Investment property was valued on an open market basis on 30 November 2022 by Directors .

7. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 253,322 207,800
Amounts owed by group undertakings 201,542 202,092
Other debtors 79,746 89,019
534,610 498,911

8. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 80,000 80,000
Trade creditors 36,922 40,297
Amounts owed to group undertakings - 550
Taxation and social security 287,994 131,167
Other creditors 103,187 76,807
508,103 328,821

9. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 20,000 240,000
Other creditors 163,845 288,924
183,845 528,924

KGK SCAFFOLDING LIMITED (REGISTERED NUMBER: 07844140)

Notes to the Financial Statements - continued
for the year ended 30 November 2023


10. Provisions for liabilities
2023 2022
£    £   
Deferred tax 56,500 65,800

Deferred
tax
£   
Balance at 1 December 2022 65,800
Provided during year (9,300 )
Balance at 30 November 2023 56,500

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

12. Reserves
Retained
earnings
£   

At 1 December 2022 157,949
Profit for the year 903,502
Dividends (797,000 )
At 30 November 2023 264,451

13. Ultimate controlling party

The controlling party is Lind Holdings Limited.