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Logo On Report
Registered Number: 10245438
England and Wales

 

 

 

KVA POWER INSTALLATIONS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 July 2023

End date: 30 June 2024
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts KVA Power Installations Ltd for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of KVA Power Installations Ltd for the year ended 30 June 2024 which comprise of the Profit and Loss Account, the Balance Sheet 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 Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.
This report is made solely to the Board of Directors of KVA Power Installations Ltd , as a body, in accordance with the terms of our engagement letter dated 24 October 2024. Our work has been undertaken solely to prepare for your approval the accounts of KVA Power Installations Ltd and state those matters that we have agreed to state to the Board of Directors of KVA Power Installations Ltd, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KVA Power Installations Ltd and its Board of Directors as a body for our work or for this report
It is your duty to ensure that KVA Power Installations Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit KVA Power Installations Ltd. You consider that KVA Power Installations Ltd is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of KVA Power Installations Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
Rivington Accounts Ltd
Bank House
6-8 Church Street
Adlington
Lancashire
PR7 4EX
24 October 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 63,316    65,787 
63,316    65,787 
Current assets      
Stocks 31,425    36,450 
Debtors 121,109    182,658 
Cash at bank and in hand 1,048,556    648,152 
1,201,090    867,260 
Creditors: amount falling due within one year (436,866)   (251,710)
Net current assets 764,224    615,550 
 
Total assets less current liabilities 827,540    681,337 
Creditors: amount falling due after more than one year (10,000)   (20,000)
Provisions for liabilities (15,829)   (12,617)
Net assets 801,711    648,720 
 

Capital and reserves
     
Called up share capital 4 12    12 
Profit and loss account 801,699    648,708 
Shareholders' funds 801,711    648,720 
 


For the year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 24 October 2024 and were signed on its behalf by:


-------------------------------
Gary Thomas Mcilvain
Director
2
General Information
KVA Power Installations Ltd is a private company, limited by shares, registered in England and Wales, registration number 10245438, registration address Unit 12 Pocket Workshops, Washington Street, Bolton, Greater Manchester, BL3 5ER.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Plant and Machinery 15% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 3 (2023 : 3).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 July 2023 18,492    66,507    4,181    3,843    93,023 
Additions 1,920        11,783    13,703 
Disposals        
At 30 June 2024 20,412    66,507    4,181    15,626    106,726 
Depreciation
At 01 July 2023 3,524    18,002    3,090    2,620    27,236 
Charge for year 2,360    12,126    273    1,415    16,174 
On disposals        
At 30 June 2024 5,884    30,128    3,363    4,035    43,410 
Net book values
Closing balance as at 30 June 2024 14,528    36,379    818    11,591    63,316 
Opening balance as at 01 July 2023 14,968    48,505    1,091    1,223    65,787 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
6 Class A shares of £1.00 each  
 

3