Registered number
13027802
KS Partners Ltd
Filleted Accounts
30 November 2023
KS Partners Ltd
Registered number: 13027802
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 17,598 23,464
Current assets
Stocks 24,780 4,330
Debtors 4 84,331 52,324
Cash at bank and in hand 53,433 5,949
162,544 62,603
Creditors: amounts falling due within one year 5 (123,667) (149,210)
Net current assets/(liabilities) 38,877 (86,607)
Net assets/(liabilities) 56,475 (63,143)
Capital and reserves
Called up share capital 100 100
Profit and loss account 56,375 (63,243)
Shareholders' funds 56,475 (63,143)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T Kwak
Director
Approved by the board on 18 October 2024
KS Partners Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 15 10
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 33,986
At 30 November 2023 33,986
Depreciation
At 1 December 2022 10,522
Charge for the year 5,866
At 30 November 2023 16,388
Net book value
At 30 November 2023 17,598
At 30 November 2022 23,464
4 Debtors 2023 2022
£ £
Trade debtors 18,333 5,040
Other debtors 65,998 47,284
84,331 52,324
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 18,798 1,083
Other creditors 104,869 148,127
123,667 149,210
6 Other information
KS Partners Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Suite 41, Chessington Business Centre
37 Cox Lane
Chessington
Surrey
KT9 1SD
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