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STATEMENT OF CONSENT TO PREPARE ABRIDGED FINANCIAL STATEMENTS
All of the members of KSB Holdings Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 July 2024 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER: 05893182
KSB HOLDINGS LIMITED
FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 July 2024
KSB HOLDINGS LIMITED
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ABRIDGED FINANCIAL STATEMENTS OF KSB HOLDINGS LIMITED
YEAR ENDED 31 JULY 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of KSB Holdings Limited for the year ended 31 July 2024, which comprise the abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
LANGARD LIFFORD HALL LIMITED Accountants and Registered Auditors
Lifford Hall Lifford Lane Kings Norton Birmingham B30 3JN
20 November 2024
KSB HOLDINGS LIMITED
ABRIDGED STATEMENT OF FINANCIAL POSITION
31 July 2024
2024
2023
Note
£
£
£
£
Fixed Assets
Tangible assets
4
414,325
426,487
Investments
5
200
200
------------
------------
414,525
426,687
Current Assets
Debtors
133,850
133,850
Cash at bank and in hand
11,442
58,358
------------
------------
145,292
192,208
Creditors: amounts falling due within one year
159,553
221,230
------------
------------
Net Current Liabilities
14,261
29,022
------------
------------
Total Assets Less Current Liabilities
400,264
397,665
Creditors: amounts falling due after more than one year
6
92,844
103,946
------------
------------
Net Assets
307,420
293,719
------------
------------
Capital and Reserves
Called up share capital
200
200
Profit and loss account
307,220
293,519
------------
------------
Shareholders Funds
307,420
293,719
------------
------------
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 abridged statement of income and retained earnings has not been delivered.
KSB HOLDINGS LIMITED
ABRIDGED STATEMENT OF FINANCIAL POSITION (continued)
31 July 2024
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
These abridged financial statements were approved by the board of directors and authorised for issue on 20 November 2024 , and are signed on behalf of the board by:
B P Radbourne
Director
Company registration number: 05893182
KSB HOLDINGS LIMITED
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 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 Lifford Hall, Lifford Lane, Kings Norton, Birmingham, B30 3JN.
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.
Consolidation
The company has taken advantage of the option not to prepare consolidated abridged financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
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
The turnover shown in the profit and loss account represents the realisable value of rental income during the year, exclusive of Value Added Tax.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Plant and machinery
-
15% reducing balance
Fixtures, fittings and equipment
-
20% reducing balance
No depreciation is provided in the year of acquisition. No depreciation is provided on leasehold properties unless the unexpired term of the lease is less than 20 years.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Tangible Assets
£
Cost
At 1 August 2023 and 31 July 2024
749,461
------------
Depreciation
At 1 August 2023
322,974
Charge for the year
12,162
------------
At 31 July 2024
335,136
------------
Carrying amount
At 31 July 2024
414,325
------------
At 31 July 2023
426,487
------------
5. Investments
£
Cost
At 1 August 2023 and 31 July 2024
200
------------
Impairment
At 1 August 2023 and 31 July 2024
------------
Carrying amount
At 31 July 2024
200
------------
At 31 July 2023
200
------------
6. Creditors: amounts falling due after more than one year
Bank loans are secured by a legal charge on certain assets of the company.
Included within creditors: amounts falling due after more than one year is an amount of £46,215 (2023: £55,092) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
7. Contingencies
Amounts due to NatWest Bank PLC are secured by a fixed and floating debenture over all of the company's assets dated 22 December 2006.
8. Related Party Transactions
KSB Holdings Limited is the parent company of KSB Precision Limited. During the year the company made sales to KSB Precision Limited of £44,000 (2023: £44,000), included within creditors are amounts owed to KSB Precision Limited of £127,324 (2023: £171,918). KSB Tech Limited is the parent company of KSB Holdings Limited, included within debtors are amounts owed by KSB Tech Limited of £133,850 (2023: £133,850).
9. Controlling Party
The ultimate parent company at the end of the year was KSB Tech Limited .