IRIS Accounts Production v24.3.0.553 08711328 Board of Directors 1.10.23 30.9.24 30.9.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh087113282023-09-30087113282024-09-30087113282023-10-012024-09-30087113282022-09-30087113282022-10-012023-09-30087113282023-09-3008711328ns15:EnglandWales2023-10-012024-09-3008711328ns14:PoundSterling2023-10-012024-09-3008711328ns10:Director12023-10-012024-09-3008711328ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3008711328ns10:SmallEntities2023-10-012024-09-3008711328ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-3008711328ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3008711328ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3008711328ns10:FullAccounts2023-10-012024-09-3008711328ns10:OrdinaryShareClass12023-10-012024-09-3008711328ns10:Director22023-10-012024-09-3008711328ns10:Director32023-10-012024-09-3008711328ns10:RegisteredOffice2023-10-012024-09-3008711328ns5:CurrentFinancialInstruments2024-09-3008711328ns5:CurrentFinancialInstruments2023-09-3008711328ns5:Non-currentFinancialInstruments2024-09-3008711328ns5:Non-currentFinancialInstruments2023-09-3008711328ns5:ShareCapital2024-09-3008711328ns5:ShareCapital2023-09-3008711328ns5:RetainedEarningsAccumulatedLosses2024-09-3008711328ns5:RetainedEarningsAccumulatedLosses2023-09-3008711328ns5:LeaseholdImprovements2023-10-012024-09-3008711328ns5:FurnitureFittings2023-10-012024-09-3008711328ns5:ComputerEquipment2023-10-012024-09-3008711328ns5:LeaseholdImprovements2023-09-3008711328ns5:FurnitureFittings2023-09-3008711328ns5:ComputerEquipment2023-09-3008711328ns5:LeaseholdImprovements2024-09-3008711328ns5:FurnitureFittings2024-09-3008711328ns5:ComputerEquipment2024-09-3008711328ns5:LeaseholdImprovements2023-09-3008711328ns5:FurnitureFittings2023-09-3008711328ns5:ComputerEquipment2023-09-3008711328ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-09-3008711328ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-3008711328ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-09-3008711328ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-09-3008711328ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-09-3008711328ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-09-3008711328ns5:AcceleratedTaxDepreciationDeferredTax2024-09-3008711328ns5:AcceleratedTaxDepreciationDeferredTax2023-09-3008711328ns5:DeferredTaxation2023-09-3008711328ns5:DeferredTaxation2023-10-012024-09-3008711328ns5:DeferredTaxation2024-09-3008711328ns10:OrdinaryShareClass12024-09-30
REGISTERED NUMBER: 08711328 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th September 2024

for

KLO FINANCIAL SERVICES LTD

KLO FINANCIAL SERVICES LTD (REGISTERED NUMBER: 08711328)

Contents of the Financial Statements
for the Year Ended 30th September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KLO FINANCIAL SERVICES LTD

Company Information
for the Year Ended 30th September 2024







DIRECTORS: Mr A G Hayward-Wright
Mr J Glavey
Mr E Pantelis Michael





REGISTERED OFFICE: 4 Clews Road
Redditch
Worcestershire
B98 7ST





REGISTERED NUMBER: 08711328 (England and Wales)





ACCOUNTANTS: Hayward Wright Ltd
4 Clews Road
Redditch
Worcestershire
B98 7ST

KLO FINANCIAL SERVICES LTD (REGISTERED NUMBER: 08711328)

Balance Sheet
30th September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,367 20,461

CURRENT ASSETS
Stocks 5 - 6,000
Debtors 6 73,255 80,237
Cash at bank and in hand 350,385 227,392
423,640 313,629
CREDITORS
Amounts falling due within one year 7 169,904 155,936
NET CURRENT ASSETS 253,736 157,693
TOTAL ASSETS LESS CURRENT LIABILITIES 273,103 178,154

CREDITORS
Amounts falling due after more than one year 8 (6,667 ) (16,667 )

PROVISIONS FOR LIABILITIES 10 (3,680 ) (3,888 )
NET ASSETS 262,756 157,599

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 262,656 157,499
SHAREHOLDERS' FUNDS 262,756 157,599

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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.

KLO FINANCIAL SERVICES LTD (REGISTERED NUMBER: 08711328)

Balance Sheet - continued
30th September 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 29th November 2024 and were signed on its behalf by:





Mr A G Hayward-Wright - Director


KLO FINANCIAL SERVICES LTD (REGISTERED NUMBER: 08711328)

Notes to the Financial Statements
for the Year Ended 30th September 2024


1. STATUTORY INFORMATION

KLO Financial Services Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 3 years
Fixtures and fittings - 10% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, 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.

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.

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.

KLO FINANCIAL SERVICES LTD (REGISTERED NUMBER: 08711328)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1st October 2023 2,780 38,317 19,925 61,022
Additions - - 2,741 2,741
At 30th September 2024 2,780 38,317 22,666 63,763
DEPRECIATION
At 1st October 2023 2,780 18,828 18,953 40,561
Charge for year - 1,949 1,886 3,835
At 30th September 2024 2,780 20,777 20,839 44,396
NET BOOK VALUE
At 30th September 2024 - 17,540 1,827 19,367
At 30th September 2023 - 19,489 972 20,461

5. STOCKS
2024 2023
£    £   
Stocks - 6,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 31,565 29,260
Other debtors 2,691 2,680
Prepayments 38,999 48,297
73,255 80,237

KLO FINANCIAL SERVICES LTD (REGISTERED NUMBER: 08711328)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 10,000 10,000
Trade creditors 100,399 119,522
Tax 49,981 19,621
Social security and other taxes 6,499 6,793
Other creditors (215 ) -
Accrued expenses 3,240 -
169,904 155,936

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 9) 6,667 16,667

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 6,667 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years - 6,667

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 3,680 3,888

Deferred
tax
£   
Balance at 1st October 2023 3,888
Provided during year (208 )
Balance at 30th September 2024 3,680

KLO FINANCIAL SERVICES LTD (REGISTERED NUMBER: 08711328)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100