REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
4 DECEMBER 2022 TO 2 DECEMBER 2023 |
FOR |
KB 100 LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
4 DECEMBER 2022 TO 2 DECEMBER 2023 |
FOR |
KB 100 LTD |
KB 100 LTD (REGISTERED NUMBER: 12189027) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 4 DECEMBER 2022 TO 2 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
KB 100 LTD |
COMPANY INFORMATION |
FOR THE PERIOD 4 DECEMBER 2022 TO 2 DECEMBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Accountants |
Statutory Auditor |
414 Linen Hall |
162-168 Regent Street |
London |
W1B 5TE |
KB 100 LTD (REGISTERED NUMBER: 12189027) |
BALANCE SHEET |
2 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
KB 100 LTD (REGISTERED NUMBER: 12189027) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 4 DECEMBER 2022 TO 2 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
KB 100 Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
During the year the Company reported a loss of £349,972 and had net current liabilities of £2,367,222 |
The directors have prepared the accounts on a going concern basis as they believe they have the continued financial support of Abbey View Produce Limited.. There are no adjustments in these financial statements if this was not the case. |
On this basis the directors are satisfied that it is appropriate for the Financial Statements to be drawn up on the going concern basis. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Depreciation has been provided at the following annual rates in order to write off each asset over its estimated useful life: |
Land and buildings - Over the term of the lease of 20 years |
Plant and machinery etc - Between 10% and 25% on cost |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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 |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
KB 100 LTD (REGISTERED NUMBER: 12189027) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 4 DECEMBER 2022 TO 2 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
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 period was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 4 December 2022 |
Additions |
At 2 December 2023 |
DEPRECIATION |
At 4 December 2022 |
Charge for period |
At 2 December 2023 |
NET BOOK VALUE |
At 2 December 2023 |
At 3 December 2022 |
5. | DEBTORS |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
KB 100 LTD (REGISTERED NUMBER: 12189027) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 4 DECEMBER 2022 TO 2 DECEMBER 2023 |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | OTHER FINANCIAL COMMITMENTS |
The company leases it's premises. The current lease agreement expires 31 March 2041. The Total commitment for the lease can't be calculate as it is based on a formula which included the Consumer Price all items index.The annual base rent on which the calculation is based is £1,245,485. The rent will also increase for additions to the premises. |
The company has committed to a contract which expires 31 March 2041 for heating supplies based on a gas price and usage formula. The calculation for 1 January 2023 to 31 December 2023 was £1,027,381. |
10. | ULTIMATE CONTROLLING PARTY |
The ultimate parent company is Abbey View Produce Limited, a company incorporated in England and Wales. Its registered address is Abbey View Nursery, Galley Hill Road, Waltham Abbey, Essex, EN9 2AG. The ultimate controlling party is the Director B Hibberd due to his controlling shareholding in Abbey View Produce Limited. |