2023-05-012024-04-302024-04-30false05264465Kwikbizz 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Kwikbizz Limited

Registered Number
05264465
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

Kwikbizz Limited
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

Derek Leslie Moore
Donald Waites

Registered Address

18-26 Bishopton Lane
Stockton-On-Tees
Cleveland
TS18 2AA

Registered Number

05264465 (England and Wales)
Kwikbizz Limited
Statement of Financial Position
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3442,919569,303
Investments5950,002950,002
Investment property4160,000160,000
1,552,9211,679,305
Creditors amounts falling due within one year6(220,657)(172,576)
Net current assets (liabilities)(220,657)(172,576)
Total assets less current liabilities1,332,2641,506,729
Creditors amounts falling due after one year7(263,009)(523,084)
Net assets1,069,255983,645
Capital and reserves
Called up share capital22
Profit and loss account1,069,253983,643
Shareholders' funds1,069,255983,645
The financial statements were approved and authorised for issue by the Board of Directors on 29 January 2025, and are signed on its behalf by:
Derek Leslie Moore
Director
Registered Company No. 05264465
Kwikbizz Limited
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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/or 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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets’ residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. No depreciation is provided on all tangible fixed assets.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement
Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.
Trade and other 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.
Financial instruments
The Company enters into basic financial instrument 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, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Land & buildings

Total

££
Cost or valuation
At 01 May 23569,303569,303
Additions18,61618,616
Disposals(145,000)(145,000)
At 30 April 24442,919442,919
Net book value
At 30 April 24442,919442,919
At 30 April 23569,303569,303
Included in Land and Buildings cost brought forward are properties with a value of £707,731 which were transferred from the subsidiary company, Moores Leisure (Teesside) Limited on 17 April 2018. During the year ended 30 April 2024 one of the properties was sold. The remaining properties have not been depreciated and the Directors believe the valuations remain appropriate at 30 April 2024.
4.Investment property
Investment properties have been valued on an open market basis by the Directors and they believe the valuation remains appropriate at 30 April 2024.

£
Fair value at 01 May 23160,000
At 30 April 24160,000
5.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 May 23950,002950,002
At 30 April 24950,002950,002
Net book value
At 30 April 24950,002950,002
At 30 April 23950,002950,002

Notes

1Other investments other than loans
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables18,616-
Taxation and social security52,04122,576
Other creditors150,000150,000
Total220,657172,576
7.Creditors: amounts due after one year

2024

2023

££
Amounts owed to related parties263,009523,084
Total263,009523,084
8.Related party transactions
At the period end the company owed £150,000 (2023: £150,000) to a former director. The loan is interest free with no set terms for repayment At the year period end the company owed £281,627 (2023: £523,084) to it’s subsidiary company Moores Leisure (Teesside) Limited. The loan is interest free with no set terms for repayment
9.Parent-subsidiary relationships
The company, and the group headed by it, qualify as a small group as such the parent and the group are exempt from producing group accounts.