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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
Page
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K8 Solutions Ltd Company Information for the year ended 31 July 2024
Directors
K Fuller I Fuller
Secretary
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
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K8 Solutions Ltd Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
870 
1,462 
Current assets
Debtors
7,008 
11,644 
Cash at bank and in hand
65,854 
72,230 
72,862 
83,874 
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
Deferred tax
(165)
(278)
Net assets
64,546 
74,895 
Capital and reserves
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
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K8 Solutions Ltd Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
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.
3
Accounting policies
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
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
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
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.
Leased assets
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.
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K8 Solutions Ltd Notes to the Accounts for the year ended 31 July 2024
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 August 2023
3,863 
At 31 July 2024
3,863 
Depreciation
At 1 August 2023
2,401 
Charge for the year
592 
At 31 July 2024
2,993 
Net book value
At 31 July 2024
870 
At 31 July 2023
1,462 
5
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary of £1 each
1 
1 
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 
4,400 
8,800 
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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