Company registration number 05639054 (England and Wales)
K.C.G. INSTALLATIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
K.C.G. INSTALLATIONS LIMITED
COMPANY INFORMATION
Directors
Mr C Smith
Ms R Dudley
Company number
05639054
Registered office
4 Cockshute Hill
Droitwich
Worcestershire
WR9 7QP
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
National Westminster Bank Plc
1 The Cross
Worcester
Worcestershire
WR1 3PR
K.C.G. INSTALLATIONS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
K.C.G. INSTALLATIONS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF K.C.G. INSTALLATIONS LIMITED FOR THE YEAR ENDED 30 NOVEMBER 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of K.C.G. Installations Limited for the year ended 30 November 2023 which comprise, the balance sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of K.C.G. Installations Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of K.C.G. Installations Limited and state those matters that we have agreed to state to the board of directors of K.C.G. Installations Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than K.C.G. Installations Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that K.C.G. Installations Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of K.C.G. Installations Limited. You consider that K.C.G. Installations Limited 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 financial statements of K.C.G. Installations Limited. 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 financial statements.

Ormerod Rutter Limited
27 March 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
K.C.G. INSTALLATIONS LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
10,944
3,266
Current assets
Debtors
4
46,098
47,727
Cash at bank and in hand
249
240
46,347
47,967
Creditors: amounts falling due within one year
5
(33,187)
(41,843)
Net current assets
13,160
6,124
Total assets less current liabilities
24,104
9,390
Creditors: amounts falling due after more than one year
6
(12,906)
(7,750)
Provisions for liabilities
7
(2,079)
(621)
Net assets
9,119
1,019
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
9,019
919
Total equity
9,119
1,019

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

K.C.G. INSTALLATIONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2023
30 November 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 27 March 2024 and are signed on its behalf by:
Mr C Smith
Director
Company registration number 05639054 (England and Wales)
K.C.G. INSTALLATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 4 -
1
Accounting policies
Company information

K.C.G. Installations Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Cockshute Hill, Droitwich, Worcestershire, United Kingdom, WR9 7QP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% on reducing balance
Computer equipment
25% on cost
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

K.C.G. INSTALLATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.6
Leases

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

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
K.C.G. INSTALLATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 6 -
3
Tangible fixed assets
Plant and machinery
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 December 2022
4,423
3,043
13,336
20,802
Additions
-
0
-
0
14,499
14,499
Disposals
-
0
-
0
(13,000)
(13,000)
At 30 November 2023
4,423
3,043
14,835
22,301
Depreciation and impairment
At 1 December 2022
4,325
2,963
10,248
17,536
Depreciation charged in the year
30
80
3,626
3,736
Eliminated in respect of disposals
-
0
-
0
(9,915)
(9,915)
At 30 November 2023
4,355
3,043
3,959
11,357
Carrying amount
At 30 November 2023
68
-
0
10,876
10,944
At 30 November 2022
98
80
3,088
3,266
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
2,783
Other debtors
46,098
44,944
46,098
47,727
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
3,262
9,201
Trade creditors
551
409
Taxation and social security
21,408
27,731
Other creditors
7,966
4,502
33,187
41,843
K.C.G. INSTALLATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 7 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
4,750
7,750
Other creditors
8,156
-
0
12,906
7,750
7
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
2,079
621
8
Secured debts
The following secured debts are included within creditors:
2023
2022
£
£
Hire purchase contracts
11,781
-
Bank overdrafts
262
6,201
Bank loans
7,750
10,750
19,793
16,951
Hire purchase contracts are secured against the assets to which they relate.
Bank loans are secured by way of a fixed and floating charge over all assets of the company.
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
75
75
75
75
Growth of £1 each
25
25
25
25
100
100
100
100
K.C.G. INSTALLATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 8 -
10
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Loan account
-
16,972
31,435
(39,000)
9,407
16,972
31,435
(39,000)
9,407

The directors' loan account were repaid within nine months of the year end.

11
Ultimate controlling party

The ultimate controlling party is Mr C Smith.

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