18 false false false false false false false false false false true false false false false false true true No description of principal activity 2022-11-01 Sage Accounts Production Advanced 2023 - FRS102_2023 42,109 35,967 4,125 40,092 2,017 6,142 xbrli:pure xbrli:shares iso4217:GBP 05595319 2022-11-01 2024-04-30 05595319 2024-04-30 05595319 2022-10-31 05595319 2021-11-01 2022-10-31 05595319 2022-10-31 05595319 2021-10-31 05595319 bus:Director2 2022-11-01 2024-04-30 05595319 core:FurnitureFittings 2022-10-31 05595319 core:FurnitureFittings 2024-04-30 05595319 core:WithinOneYear 2024-04-30 05595319 core:WithinOneYear 2022-10-31 05595319 core:ShareCapital 2024-04-30 05595319 core:ShareCapital 2022-10-31 05595319 core:RetainedEarningsAccumulatedLosses 2024-04-30 05595319 core:RetainedEarningsAccumulatedLosses 2022-10-31 05595319 core:FurnitureFittings 2022-11-01 2024-04-30 05595319 core:FurnitureFittings 2022-10-31 05595319 bus:SmallEntities 2022-11-01 2024-04-30 05595319 bus:AuditExemptWithAccountantsReport 2022-11-01 2024-04-30 05595319 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2024-04-30 05595319 bus:PrivateLimitedCompanyLtd 2022-11-01 2024-04-30 05595319 bus:AbridgedAccounts 2022-11-01 2024-04-30
COMPANY REGISTRATION NUMBER: 05595319
KRD Financial Advisers Limited
Filleted Unaudited Abridged Financial Statements
30 April 2024
KRD Financial Advisers Limited
Abridged Statement of Financial Position
30 April 2024
30 Apr 24
31 Oct 22
Note
£
£
£
Fixed assets
Tangible assets
5
2,017
6,142
Current assets
Debtors
189,330
258,945
Cash at bank and in hand
282,264
104,287
---------
---------
471,594
363,232
Creditors: amounts falling due within one year
103,515
38,609
---------
---------
Net current assets
368,079
324,623
---------
---------
Total assets less current liabilities
370,096
330,765
Provisions
Taxation including deferred tax
504
1,167
---------
---------
Net assets
369,592
329,598
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
369,492
329,498
---------
---------
Shareholders funds
369,592
329,598
---------
---------
These abridged 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.
For the period ending 30 April 2024 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 abridged financial statements for the period 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 abridged financial statements .
All of the members have consented to the preparation of the abridged statement of financial position for the period ending 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.
KRD Financial Advisers Limited
Abridged Statement of Financial Position (continued)
30 April 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 10 September 2024 , and are signed on behalf of the board by:
Mr R.J.K. Bissell
Director
Company registration number: 05595319
KRD Financial Advisers Limited
Notes to the Abridged Financial Statements
Period from 1 November 2022 to 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ashford House, 95 Dixons Green, Dudley, West Midlands.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (A) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
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.
Income tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
Tangible assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
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:
Office equipment
-
4 years
Impairment of fixed assets
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
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 as a finance cost 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 period amounted to 18 (2022: 18 ).
5. Tangible assets
Fixtures and fittings
Total
£
£
Cost
At 1 November 2022 and 30 April 2024
42,109
42,109
--------
--------
Depreciation
At 1 November 2022
35,967
35,967
Charge for the period
4,125
4,125
--------
--------
At 30 April 2024
40,092
40,092
--------
--------
Carrying amount
At 30 April 2024
2,017
2,017
--------
--------
At 31 October 2022
6,142
6,142
--------
--------
6. Directors' advances, credits and guarantees
The directors made loans to the company during the year. The loans are interest free and repayable on demand. The balance outstanding at 30th April 2024 was £2,657 (2022 £7,420)