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REGISTERED NUMBER: 05734606 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

K B INNOVATIONS LTD

K B INNOVATIONS LTD (REGISTERED NUMBER: 05734606)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


K B INNOVATIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: K Brown





REGISTERED OFFICE: Victoria House
26 Queen Victoria Street
Reading
Berkshire
RG1 1TG





REGISTERED NUMBER: 05734606 (England and Wales)

K B INNOVATIONS LTD (REGISTERED NUMBER: 05734606)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 28,440 34,873

CURRENT ASSETS
Stocks 2,500 2,500
Debtors 5 6,401 2,230
Cash at bank 53,073 19,862
61,974 24,592
CREDITORS
Amounts falling due within one year 6 57,605 47,383
NET CURRENT ASSETS/(LIABILITIES) 4,369 (22,791 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

32,809

12,082

PROVISIONS FOR LIABILITIES 5,716 6,626
NET ASSETS 27,093 5,456

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 27,091 5,454
27,093 5,456

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 INNOVATIONS LTD (REGISTERED NUMBER: 05734606)

BALANCE SHEET - continued
31 MARCH 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 January 2025 and were signed by:





K Brown - Director


K B INNOVATIONS LTD (REGISTERED NUMBER: 05734606)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

K B Innovations Limited is a private company, limited by shares, registered in England and Wales. The address of its registered office is Victoria House, 26 Queen Victoria Street, Reading RG1 1TG.

The principal activity of the company in the year under review was that of kitchen design and installation.

The financial statements are presented in Pound Sterling (£), which is also the functional currency of the company.

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.
Plant and machinery etc - 25% 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.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

Short term debtors are measured at transaction price, less any impairment. Short term creditors are measured at transaction price.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

K B INNOVATIONS LTD (REGISTERED NUMBER: 05734606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Storage Plant and Motor Computer
unit machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023
and 31 March 2024 18,281 17,877 33,238 1,706 71,102
DEPRECIATION
At 1 April 2023 1,828 8,020 24,979 1,402 36,229
Charge for year 1,828 2,464 2,065 76 6,433
At 31 March 2024 3,656 10,484 27,044 1,478 42,662
NET BOOK VALUE
At 31 March 2024 14,625 7,393 6,194 228 28,440
At 31 March 2023 16,453 9,857 8,259 304 34,873

K B INNOVATIONS LTD (REGISTERED NUMBER: 05734606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 5,401 -
Other debtors 1,000 2,230
6,401 2,230

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 1,400 -
Taxation and social security 12,751 -
Other creditors 43,454 47,383
57,605 47,383