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Registered number: 11597718
KT ENTERPRISE LTD
Unaudited Financial Statements
For The Year Ended 31 August 2024
AMCI ASSOCIATES LTD
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—5
Page 1
Balance Sheet
Registered number: 11597718
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,684 5,467
1,684 5,467
CURRENT ASSETS
Stocks 5 94,250 75,565
Debtors 6 403 403
Cash at bank and in hand 6,523 11,233
101,176 87,201
Creditors: Amounts Falling Due Within One Year 7 (123,959 ) (116,399 )
NET CURRENT ASSETS (LIABILITIES) (22,783 ) (29,198 )
TOTAL ASSETS LESS CURRENT LIABILITIES (21,099 ) (23,731 )
NET LIABILITIES (21,099 ) (23,731 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (21,199 ) (23,831 )
SHAREHOLDERS' FUNDS (21,099) (23,731)
Page 1
Page 2
For the year ending 31 August 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Muhammad Adheal Khokhar
Director
04/03/2025
The notes on pages 4 to 5 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 September 2022 100 (34,339 ) (34,239)
Profit for the year and total comprehensive income - 10,508 10,508
As at 31 August 2023 and 1 September 2023 100 (23,831 ) (23,731)
Profit for the year and total comprehensive income - 2,632 2,632
As at 31 August 2024 100 (21,199 ) (21,099)
Page 3
Page 4
Notes to the Financial Statements
1. General Information
KT ENTERPRISE LTD is a private company, limited by shares, incorporated in England & Wales, registered number 11597718 . The registered office is 133 Tame Road, Birmingham, B6 7DG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20%
Computer Equipment 20%
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
Page 4
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 September 2023 18,915 950 19,865
As at 31 August 2024 18,915 950 19,865
Depreciation
As at 1 September 2023 13,449 949 14,398
Provided during the period 3,783 - 3,783
As at 31 August 2024 17,232 949 18,181
Net Book Value
As at 31 August 2024 1,683 1 1,684
As at 1 September 2023 5,466 1 5,467
5. Stocks
2024 2023
£ £
Finished goods 94,250 75,565
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 403 403
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other taxes and social security 2,336 3,186
VAT 24,758 20,772
Other creditors 7,425 7,401
Directors' loan accounts 89,440 85,040
123,959 116,399
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5