KIS Electrical Limited
Unaudited Financial Statements
For the year ended 31 March 2024
Pages for Filing with Registrar
Company Registration No. 08807859 (England and Wales)
KIS Electrical Limited
Company Information
Director
I Sutherland
Company number
08807859
Registered office
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Accountants
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
KIS Electrical Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
KIS Electrical Limited
Balance Sheet
As at 31 March 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
7,822
9,897
Current assets
Stock
74,906
91,151
Debtors
4
57,477
117,078
132,383
208,229
Creditors: amounts falling due within one year
5
(120,125)
(174,097)
Net current assets
12,258
34,132
Total assets less current liabilities
20,080
44,029
Creditors: amounts falling due after more than one year
6
(7,284)
(17,353)
Net assets
12,796
26,676
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
12,696
26,576
Total equity
12,796
26,676
KIS Electrical Limited
Balance Sheet (Continued)
As at 31 March 2024
Page 2

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 25 February 2025
I Sutherland
Director
Company Registration No. 08807859
KIS Electrical Limited
Notes to the Financial Statements
For the year ended 31 March 2024
Page 3
1
Accounting policies
Company information

KIS Electrical Limited is a private company limited by shares incorporated in England and Wales. The registered office is Orbital House, 20 Eastern Road, Romford, Essex, RM1 3PJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention and the principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% reducing balance method
Fixtures and fittings
25% reducing balance method
Motor vehicles
20% reducing balance method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stock

Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition.

 

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

KIS Electrical Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
1
Accounting policies
(Continued)
Page 4
1.7
Financial instruments
All of the company's financial assets and liabilities are basic and measured at amortised cost.
1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 5 (2023 - 7).

3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 and 31 March 2024
36,340
Depreciation and impairment
At 1 April 2023
26,443
Depreciation charged in the year
2,075
At 31 March 2024
28,518
Carrying amount
At 31 March 2024
7,822
At 31 March 2023
9,897
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
53,877
87,689
Other debtors
3,600
34,477
57,477
122,166
KIS Electrical Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 5
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
19,934
17,030
Trade creditors
21,259
110,639
Corporation tax
-
0
427
Other taxation and social security
47,739
28,589
Other creditors
28,693
16,212
Accruals and deferred income
2,500
1,200
120,125
174,097
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
7,284
17,353
7
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
100 Ordinary shares of £1 each
100
100
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