2 01/01/2023 31/12/2023 2023-12-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-01-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 08140301 2023-01-01 2023-12-31 08140301 2023-12-31 08140301 2022-12-31 08140301 2022-01-01 2022-12-31 08140301 2022-12-31 08140301 2021-12-31 08140301 bus:RegisteredOffice 2023-01-01 2023-12-31 08140301 bus:LeadAgentIfApplicable 2023-01-01 2023-12-31 08140301 bus:Director1 2023-01-01 2023-12-31 08140301 bus:Director2 2023-01-01 2023-12-31 08140301 core:WithinOneYear 2023-12-31 08140301 core:WithinOneYear 2022-12-31 08140301 core:ShareCapital 2023-12-31 08140301 core:ShareCapital 2022-12-31 08140301 core:RetainedEarningsAccumulatedLosses 2023-12-31 08140301 core:RetainedEarningsAccumulatedLosses 2022-12-31 08140301 bus:Director1 2022-12-31 08140301 bus:Director1 2023-12-31 08140301 bus:Director1 2021-12-31 08140301 bus:Director1 2022-12-31 08140301 bus:Director1 2022-01-01 2022-12-31 08140301 bus:SmallEntities 2023-01-01 2023-12-31 08140301 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08140301 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08140301 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08140301 bus:FullAccounts 2023-01-01 2023-12-31 08140301 core:ComputerEquipment 2023-12-31 08140301 core:ComputerEquipment 2022-12-31 08140301 core:ComputerEquipment 2023-01-01 2023-12-31 08140301 core:AllAssociates 2023-01-01 2023-12-31
Company registration number: 08140301
KBear Inform Limited
Unaudited filleted financial statements
31 December 2023
KBear Inform Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
KBear Inform Limited
Directors and other information
Directors Mr J T Daniel
Mrs K L Daniel
Company number 08140301
Registered office Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
Accountants Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
KBear Inform Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of KBear Inform Limited
Year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of KBear Inform Limited for the year ended 31 December 2023 which comprise the statement of financial position and 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 http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of KBear Inform Limited, as a body, in accordance with the terms of our engagement letter dated 29 September 2022. Our work has been undertaken solely to prepare for your approval the financial statements of KBear Inform Limited and state those matters that we have agreed to state to the board of directors of KBear Inform 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 KBear Inform Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that KBear Inform 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 KBear Inform Limited. You consider that KBear Inform 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 KBear Inform 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.
Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
25 September 2024
KBear Inform Limited
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 1 1
________ ________
1 1
Current assets
Debtors 6 288,100 384,100
Cash at bank and in hand 233,392 772,260
________ ________
521,492 1,156,360
Creditors: amounts falling due
within one year 7 ( 517,533) ( 471,024)
________ ________
Net current assets 3,959 685,336
________ ________
Total assets less current liabilities 3,960 685,337
________ ________
Net assets 3,960 685,337
________ ________
Capital and reserves
Called up share capital 100 100
Profit and loss account 3,860 685,237
________ ________
Shareholders funds 3,960 685,337
________ ________
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.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 September 2024 , and are signed on behalf of the board by:
Mr J T Daniel
Director
Company registration number: 08140301
KBear Inform Limited
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Vaughan Chambers, Vaughan Road, Harpenden, AL5 4EE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment - Straight line over three years
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Computer equipment Total
£ £
Cost
At 1 January 2023 and 31 December 2023 1,153 1,153
________ ________
Depreciation
At 1 January 2023 and 31 December 2023 1,152 1,152
________ ________
Carrying amount
At 31 December 2023 1 1
________ ________
At 31 December 2022 1 1
________ ________
6. Debtors
2023 2022
£ £
Trade debtors 288,000 384,000
Other debtors 100 100
________ ________
288,100 384,100
________ ________
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 642 162
Corporation tax 166,778 168,535
Social security and other taxes 174,741 250,360
Other creditors 175,372 51,967
________ ________
517,533 471,024
________ ________
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr J T Daniel ( 50,567) 50,150 ( 417)
________ ________ ________
2022
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr J T Daniel ( 968) ( 49,599) ( 50,567)
________ ________ ________
9. Related party transactions
During the year, the company charged consultancy services totalling £660,000 (2022 - £720,000) to BSB Construction Ltd, a company in which Mr J Daniel is a director and shareholder. At 31 December 2023, there was an amount due from BSB Construction Ltd to Kbear Inform Ltd of £288,000 (2022 - £72,000).