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Company Registration No. 5432777 (England and Wales)
K-Tax Limited Unaudited accounts for the year ended 30 April 2024
K-Tax Limited Unaudited accounts Contents
Page
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K-Tax Limited Company Information for the year ended 30 April 2024
Director
Mandy Williams
Secretary
ESquare Ltd
Company Number
5432777 (England and Wales)
Registered Office
VILLA HOUSE 7 HERBERT TERRACE PENARTH SOUTH GLAMORGAN CF64 2AH
Accountants
Evans Entwistle Villa House 7 Herbert Terrace Penarth Vale of Glamorgan CF64 2AH
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Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of K-Tax Limited for the year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of K-Tax Limited for the year ended 30 April 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 CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle Member in Practice Villa House 7 Herbert Terrace Penarth Vale of Glamorgan CF64 2AH 23 January 2025
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K-Tax Limited Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
40,000 
40,000 
Tangible assets
14,580 
28,702 
54,580 
68,702 
Current assets
Debtors
2,865 
2,706 
Cash at bank and in hand
1,252 
7,001 
4,117 
9,707 
Creditors: amounts falling due within one year
(9,501)
(10,344)
Net current liabilities
(5,384)
(637)
Total assets less current liabilities
49,196 
68,065 
Creditors: amounts falling due after more than one year
(49,599)
(66,737)
Net (liabilities)/assets
(403)
1,328 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(503)
1,228 
Shareholders' funds
(403)
1,328 
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 January 2025 and were signed on its behalf by
Mandy Williams Director Company Registration No. 5432777
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K-Tax Limited Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
K-Tax Limited is a private company, limited by shares, registered in England and Wales, registration number 5432777. The registered office is VILLA HOUSE, 7 HERBERT TERRACE, PENARTH, SOUTH GLAMORGAN, CF64 2AH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives (nil years). Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 May 2023
40,000 
At 30 April 2024
40,000 
Amortisation
At 1 May 2023
- 
At 30 April 2024
- 
Net book value
At 30 April 2024
40,000 
At 30 April 2023
40,000 
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K-Tax Limited Notes to the Accounts for the year ended 30 April 2024
5
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 May 2023
69,119 
At 30 April 2024
69,119 
Depreciation
At 1 May 2023
40,417 
Charge for the year
14,122 
At 30 April 2024
54,539 
Net book value
At 30 April 2024
14,580 
At 30 April 2023
28,702 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
2,865 
- 
Other debtors
- 
2,706 
2,865 
2,706 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
5,244 
5,183 
VAT
- 
1,583 
Taxes and social security
4,057 
3,378 
Accruals
200 
200 
9,501 
10,344 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
5,558 
10,804 
Loans from directors
44,041 
55,933 
49,599 
66,737 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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