Registered number
10832447
K&K Construction Solutions Limited
Filleted Accounts
31 March 2024
K&K Construction Solutions Limited
Registered number: 10832447
Balance Sheet
as at 31 March 2024
Notes 2024 2023
Fixed assets
Tangible assets 3 9,746 14,404
Current assets
Debtors 4 36,795 40,091
Cash at bank and in hand 30,878 35,591
67,673 75,682
Creditors: amounts falling due within one year 5 (20,501) (23,505)
Net current assets 47,172 52,177
Total assets less current liabilities 56,918 66,581
Creditors: amounts falling due after more than one year 6 (5,972) (13,055)
Provisions for liabilities (2,003) (2,737)
Net assets 48,943 50,789
Capital and reserves
Called up share capital 100 100
Profit and loss account 48,843 50,689
Shareholders' funds 48,943 50,789
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.
J Wilks
Director
Approved by the board on 27 November 2024
K&K Construction Solutions Limited
Notes to the Accounts
for the year ended 31 March 2024
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 over 5 years
Motor vehicles 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.
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.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
Cost
At 1 April 2023 16,546 18,700 35,246
Additions 458 - 458
At 31 March 2024 17,004 18,700 35,704
Depreciation
At 1 April 2023 13,362 7,480 20,842
Charge for the year 1,376 3,740 5,116
At 31 March 2024 14,738 11,220 25,958
Net book value
At 31 March 2024 2,266 7,480 9,746
At 31 March 2023 3,184 11,220 14,404
4 Debtors 2024 2023
Trade debtors 18,800 18,000
Other debtors 17,995 22,091
36,795 40,091
5 Creditors: amounts falling due within one year 2024 2023
Bank loans and overdrafts 4,200 4,200
Obligations under finance lease and hire purchase contracts 2,884 3,147
Trade creditors 12 853
Taxation and social security costs 12,951 14,788
Other creditors 454 517
20,501 23,505
6 Creditors: amounts falling due after one year 2024 2023
Bank loans 5,972 10,171
Obligations under finance lease and hire purchase contracts - 2,884
5,972 13,055
7 Loans 2024 2023
Creditors include:
Secured bank loans and hire purchase contracts 13,056 20,402
The hire purchase contract is repayable by monthly instalments and is secured on specific assets owned by the company. The bank loan is repayable by monthly instalments and is secured by the UK Government under Covid Coronavirus Bounce Back Loan legislation.
8 Controlling party
J Wilks is the controlling party.
9 Other information
K&K Construction Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is:
19 Airedale Avenue
Tickhill
Doncaster
DN11 9UH
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