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Registered number: 07193764
Kaizen Business Services Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07193764
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 129,816 89,736
129,816 89,736
CURRENT ASSETS
Stocks 5 10,903 -
Debtors 6 163,237 136,676
Cash at bank and in hand 25,018 9
199,158 136,685
Creditors: Amounts Falling Due Within One Year 7 (181,785 ) (108,728 )
NET CURRENT ASSETS (LIABILITIES) 17,373 27,957
TOTAL ASSETS LESS CURRENT LIABILITIES 147,189 117,693
Creditors: Amounts Falling Due After More Than One Year 8 (28,475 ) (35,268 )
NET ASSETS 118,714 82,425
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 118,614 82,325
SHAREHOLDERS' FUNDS 118,714 82,425
Page 1
Page 2
For the year ending 31 March 2024 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.
On behalf of the board
Mr Darren Trice
Director
16/10/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Kaizen Business Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07193764 . The registered office is 35 Badgers Wood, Cottingham, North Humberside, HU16 5ST.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Fixtures & Fittings 20% Straght Line on Cost
Computer Equipment 20% Straight Line on Cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 9)
10 9
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 67,260 75,048 142,308
Additions 27,300 30,780 58,080
As at 31 March 2024 94,560 105,828 200,388
Depreciation
As at 1 April 2023 26,500 26,072 52,572
Provided during the period 12,000 6,000 18,000
As at 31 March 2024 38,500 32,072 70,572
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 March 2024 56,060 73,756 129,816
As at 1 April 2023 40,760 48,976 89,736
5. Stocks
2024 2023
£ £
Work in progress 10,903 -
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 163,237 136,676
163,237 136,676
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,476 3,633
Bank loans and overdrafts 87,253 64,853
Other taxes and social security 81,327 7,469
VAT 3,805 3,744
Director's loan account 4,924 29,029
181,785 108,728
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 28,475 35,268
28,475 35,268
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4