Company Registration No. 05175331 (England and Wales)
K8 Solutions Ltd
Unaudited accounts
for the year ended 31 July 2024
K8 Solutions Ltd
Unaudited accounts
Contents
K8 Solutions Ltd
Company Information
for the year ended 31 July 2024
Directors
K Fuller
I Fuller
Company Number
05175331 (England and Wales)
Registered Office
19 Hall Close
Naseby
Northampton
Northamptonshire
NN6 6AJ
Accountants
Canary Accounting Limited
31 Lee Drive
Houlton
Rugby
Warwickshire
CV23 1AG
K8 Solutions Ltd
Statement of financial position
as at 31 July 2024
Cash at bank and in hand
65,854
72,230
Creditors: amounts falling due within one year
(9,021)
(10,163)
Net current assets
63,841
73,711
Total assets less current liabilities
64,711
75,173
Provisions for liabilities
Called up share capital
1
1
Profit and loss account
64,545
74,894
Shareholders' funds
64,546
74,895
For the year ending 31 July 2024 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2024 and were signed on its behalf by
K Fuller
Director
Company Registration No. 05175331
K8 Solutions Ltd
Notes to the Accounts
for the year ended 31 July 2024
K8 Solutions Ltd is a private company, limited by shares, registered in England and Wales, registration number 05175331. The registered office is 19 Hall Close, Naseby, Northampton, Northamptonshire, NN6 6AJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% on cost
Computer equipment
25% on cost
Taxation for the year 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 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.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
K8 Solutions Ltd
Notes to the Accounts
for the year ended 31 July 2024
4
Tangible fixed assets
Total
Allotted, called up and fully paid:
6
Operating lease commitments
2024
2023
At 31 July 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
4,400
4,800
Later than one year and not later than five years
-
4,000
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).