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REGISTERED NUMBER: 08120456 (England and Wales)
























FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

K & B COLLECTIONS SERVICE LTD

K & B COLLECTIONS SERVICE LTD (REGISTERED NUMBER: 08120456)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


K & B COLLECTIONS SERVICE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: N Sharma
Mrs S Sharma





REGISTERED OFFICE: Ground Floor, Baird House
Seebeck Place
Knowlhill
Milton Keynes
Buckinghamshire
MK5 8FR





REGISTERED NUMBER: 08120456 (England and Wales)





ACCOUNTANTS: TC Group
Baird House
Seebeck Place
Knowlhill
Milton Keynes
Buckinghamshire
MK5 8FR

K & B COLLECTIONS SERVICE LTD (REGISTERED NUMBER: 08120456)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 64,539 28,964

CURRENT ASSETS
Stocks 76,850 38,470
Debtors 5 148,653 88,102
Cash at bank 136,784 159,577
362,287 286,149
CREDITORS
Amounts falling due within one year 6 195,993 240,187
NET CURRENT ASSETS 166,294 45,962
TOTAL ASSETS LESS CURRENT LIABILITIES 230,833 74,926

CREDITORS
Amounts falling due after more than one
year

7

(26,444

)

(13,943

)

PROVISIONS FOR LIABILITIES (10,791 ) (8,226 )
NET ASSETS 193,598 52,757

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 193,498 52,657
193,598 52,757

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

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

K & B COLLECTIONS SERVICE LTD (REGISTERED NUMBER: 08120456)

BALANCE SHEET - continued
30 JUNE 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 January 2025 and were signed on its behalf by:





N Sharma - Director


K & B COLLECTIONS SERVICE LTD (REGISTERED NUMBER: 08120456)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

K & B Collections Service 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.
Short leasehold - Over remaining period of the lease
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

K & B COLLECTIONS SERVICE LTD (REGISTERED NUMBER: 08120456)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 7,824 9,408 29,403 9,893 56,528
Additions - 1,645 53,300 1,199 56,144
At 30 June 2024 7,824 11,053 82,703 11,092 112,672
DEPRECIATION
At 1 July 2023 7,824 6,640 7,351 5,749 27,564
Charge for year - 662 18,838 1,069 20,569
At 30 June 2024 7,824 7,302 26,189 6,818 48,133
NET BOOK VALUE
At 30 June 2024 - 3,751 56,514 4,274 64,539
At 30 June 2023 - 2,768 22,052 4,144 28,964

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 68,060 35,589
Other debtors 80,593 52,513
148,653 88,102

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 15,172 6,197
Trade creditors 121,075 176,685
Taxation and social security 51,669 17,109
Other creditors 8,077 40,196
195,993 240,187

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 26,444 13,943

8. RELATED PARTY DISCLOSURES

At the year end the company owed the director £23 (2023 £32,646).