Registered number
06854235
KAB Limited
Filleted Accounts
31 March 2024
KAB Limited
Registered number: 06854235
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,786 8,482
Current assets
Stocks 42,000 42,000
Debtors 4 7 -
Cash at bank and in hand 6,250 7,196
48,257 49,196
Creditors: amounts falling due within one year 5 (22,736) (27,532)
Net current assets 25,521 21,664
Net assets 32,307 30,146
Capital and reserves
Called up share capital 100 100
Profit and loss account 32,207 30,046
Shareholders' funds 32,307 30,146
The directors are 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 directors acknowledge their 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.
Halil BOZDAG
Director
Approved by the board on 30 October 2024
KAB Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 22,301 4,000 26,301
At 31 March 2024 22,301 4,000 26,301
Depreciation
At 1 April 2023 15,074 2,745 17,819
Charge for the year 1,445 251 1,696
At 31 March 2024 16,519 2,996 19,515
Net book value
At 31 March 2024 5,782 1,004 6,786
At 31 March 2023 7,227 1,255 8,482
4 Debtors 2024 2023
£ £
Other debtors 7 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,619 3,533
Trade creditors 7,490 683
Taxation and social security costs 2,439 4,490
Other creditors 8,188 18,826
22,736 27,532
6 Controlling party
Company director Mr H. Bozdag holds 45 originary shares, Mr I. Kurban owns 5 ordinay shares and Mr C. Kurban owns 50 ordinary shares out of all issued share capital.
7 Other information
KAB Limited is a private company limited by shares and incorporated in England. Its registered office is:
8 Clock House Parade
Norh Circular Road
London
N13 6BG
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