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REGISTERED NUMBER: 06825943 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

K B Electrical Solutions Limited

K B Electrical Solutions Limited (Registered number: 06825943)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


K B Electrical Solutions Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: K D Benzie
A J Benzie





REGISTERED OFFICE: 32 Hayhill Industrial Estate
Barrow Upon Soar
Loughborough
Leicestershire
LE12 8LD





REGISTERED NUMBER: 06825943 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

K B Electrical Solutions Limited (Registered number: 06825943)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 163,971 100,911
163,971 100,911

CURRENT ASSETS
Stocks 20,000 20,000
Debtors 6 231,374 203,009
Cash at bank 173,928 120,768
425,302 343,777
CREDITORS
Amounts falling due within one year 7 (224,760 ) (193,814 )
NET CURRENT ASSETS 200,542 149,963
TOTAL ASSETS LESS CURRENT
LIABILITIES

364,513

250,874

CREDITORS
Amounts falling due after more than one
year

8

(14,167

)

(24,167

)

PROVISIONS FOR LIABILITIES (40,993 ) (25,228 )
NET ASSETS 309,353 201,479

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 309,351 201,477
SHAREHOLDERS' FUNDS 309,353 201,479

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

K B Electrical Solutions Limited (Registered number: 06825943)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 August 2024 and were signed on its behalf by:





A J Benzie - Director


K B Electrical Solutions Limited (Registered number: 06825943)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

K B Electrical Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell on a first in first out basis after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

K B Electrical Solutions Limited (Registered number: 06825943)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 60,000
AMORTISATION
At 1 April 2023
and 31 March 2024 60,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

K B Electrical Solutions Limited (Registered number: 06825943)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 43,690 8,200 125,076 40,763 217,729
Additions 2,991 - 117,929 2,439 123,359
Disposals (9,230 ) - (37,489 ) - (46,719 )
At 31 March 2024 37,451 8,200 205,516 43,202 294,369
DEPRECIATION
At 1 April 2023 28,995 4,248 46,645 36,930 116,818
Charge for year 2,688 790 21,940 2,234 27,652
Eliminated on disposal (7,225 ) - (6,847 ) - (14,072 )
At 31 March 2024 24,458 5,038 61,738 39,164 130,398
NET BOOK VALUE
At 31 March 2024 12,993 3,162 143,778 4,038 163,971
At 31 March 2023 14,695 3,952 78,431 3,833 100,911

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 201,287 181,092
Other debtors 30,087 21,917
231,374 203,009

Other debtors includes prepayments and accrued income of £9,636 (2023: £8,807).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts - 3,317
Trade creditors 78,706 53,087
Taxation and social security 70,923 23,545
Other creditors 65,131 103,865
224,760 193,814

Other creditors includes accruals and deferred income of £2,450 (2023: £2,400).

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 14,167 24,167

K B Electrical Solutions Limited (Registered number: 06825943)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments, guarantees and contingencies that are not included in the balance sheet is £74,779 (2023 - £122,475).