Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 06653932 Mr Karim Rashid Mrs Margaret Rashid Mr Karim Rashid true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06653932 2022-12-31 06653932 2023-12-31 06653932 2023-01-01 2023-12-31 06653932 frs-core:Non-currentFinancialInstruments 2023-12-31 06653932 frs-core:ComputerEquipment 2023-01-01 2023-12-31 06653932 frs-core:FurnitureFittings 2023-01-01 2023-12-31 06653932 frs-core:NetGoodwill 2023-01-01 2023-12-31 06653932 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 06653932 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06653932 frs-core:PlantMachinery 2023-01-01 2023-12-31 06653932 frs-core:ShareCapital 2023-12-31 06653932 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 06653932 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06653932 frs-bus:AbridgedAccounts 2023-01-01 2023-12-31 06653932 frs-bus:SmallEntities 2023-01-01 2023-12-31 06653932 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 06653932 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06653932 1 2023-01-01 2023-12-31 06653932 frs-bus:Director1 2023-01-01 2023-12-31 06653932 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 06653932 frs-countries:EnglandWales 2023-01-01 2023-12-31 06653932 2021-12-31 06653932 2022-12-31 06653932 2022-01-01 2022-12-31 06653932 frs-core:Non-currentFinancialInstruments 2022-12-31 06653932 frs-core:ShareCapital 2022-12-31 06653932 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 06653932
KBS Retail Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 December 2023
PPR Associates Ltd
77/77a High Street
South Normanton
Alfreton
Derbyshire
DE55 2BP
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 06653932
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 500,000 500,000
Tangible Assets 5 598,118 596,827
1,098,118 1,096,827
CURRENT ASSETS
Stocks 73,678 76,768
Debtors 18,257 25,172
Cash at bank and in hand 379,369 243,669
471,304 345,609
Creditors: Amounts Falling Due Within One Year (330,522 ) (347,201 )
NET CURRENT ASSETS (LIABILITIES) 140,782 (1,592 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,238,900 1,095,235
Creditors: Amounts Falling Due After More Than One Year (520,917 ) (535,756 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (15,790 ) (11,211 )
NET ASSETS 702,193 548,268
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 702,093 548,168
SHAREHOLDERS' FUNDS 702,193 548,268
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 December 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Karim Rashid
Director
11th September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Abridged Financial Statements
1. General Information
KBS Retail Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06653932 . The registered office is 10 Beaumaris Grove, Shenley Church End, Milton Keynes, Bucks, MK5 6EN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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.

2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis
over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the
acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be
recoverable.

Amortisation
Amortisation is provided in order to write off each asset over its estimated useful life of Nil years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Freehold 0% on reducing balance
Leasehold 0% on reducing balance
Plant & Machinery 15% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on reducing balance
2.5. Investment Properties
It is the company policy not to provide depreciation on freehold property or improvements made to the property. The property is maintained to a high standard and the director considers the residual value, based on prices prevailing at the time of acquisition are as such that depreciation is not significant.
2.6. Stocks and Work in Progress
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.
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2.7. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.8. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2022: 10)
10 10
4. Intangible Assets
Total
£
Cost
As at 1 January 2023 500,000
As at 31 December 2023 500,000
Net Book Value
As at 31 December 2023 500,000
As at 1 January 2023 500,000
5. Tangible Assets
Total
£
Cost
As at 1 January 2023 810,677
Additions 12,234
As at 31 December 2023 822,911
Depreciation
As at 1 January 2023 213,850
Provided during the period 10,943
As at 31 December 2023 224,793
Net Book Value
As at 31 December 2023 598,118
As at 1 January 2023 596,827
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6. Secured Creditors
The bank loan provided by HSBC Bank PLC is secured by a legal charge over the freehold property known as Oundle Road Service Station and all assets of the company.
Of the creditors falling due within and after more than one year the following amounts are secured.
2023 2022
£ £
Bank loans and overdrafts 7,068 91,855
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
8. Related Party Transactions
K & M Rashid LimitedK & M Rashid Limited is a company wholly owned by the shareholders.The company has received monies loaned for cashflow purposes from K & M Rashid Limited. The balance is included within other creditors. At the balance sheet date the amount outstanding was £500,000 (2022 £500,000).

K & M Rashid Limited

K & M Rashid Limited is a company wholly owned by the shareholders.

The company has received monies loaned for cashflow purposes from K & M Rashid Limited. The balance is included within other creditors. At the balance sheet date the amount outstanding was £500,000 (2022 £500,000).

9. Ultimate Controlling Party
The company's ultimate controlling party is Mr Karim Rashid by virtue of his ownership of 50% of the issued share capital in the company.
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