K.B.& Sons Limited 01066551 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is building contractors Digita Accounts Production Advanced 6.30.9574.0 true 01066551 2023-10-01 2024-09-30 01066551 2024-09-30 01066551 core:RetainedEarningsAccumulatedLosses 2024-09-30 01066551 core:ShareCapital 2024-09-30 01066551 core:CurrentFinancialInstruments 2024-09-30 01066551 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 01066551 core:PlantMachinery 2024-09-30 01066551 bus:SmallEntities 2023-10-01 2024-09-30 01066551 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 01066551 bus:FilletedAccounts 2023-10-01 2024-09-30 01066551 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 01066551 bus:RegisteredOffice 2023-10-01 2024-09-30 01066551 bus:Director1 2023-10-01 2024-09-30 01066551 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 01066551 core:PlantMachinery 2023-10-01 2024-09-30 01066551 countries:EnglandWales 2023-10-01 2024-09-30 01066551 2023-09-30 01066551 core:PlantMachinery 2023-09-30 01066551 2022-10-01 2023-09-30 01066551 2023-09-30 01066551 core:RetainedEarningsAccumulatedLosses 2023-09-30 01066551 core:ShareCapital 2023-09-30 01066551 core:CurrentFinancialInstruments 2023-09-30 01066551 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 01066551 core:PlantMachinery 2023-09-30 iso4217:GBP xbrli:pure

Registration number: 01066551

K.B.& Sons Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 30 September 2024

 

K.B.& Sons Limited

(Registration number: 01066551)
Statement of Financial Position as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

12,261

16,348

Current assets

 

Stocks

5

117,600

883,693

Debtors

6

64,605

18,928

Cash at bank and in hand

 

336,785

7,749

 

518,990

910,370

Creditors: Amounts falling due within one year

7

(19,240)

(310,346)

Net current assets

 

499,750

600,024

Net assets

 

512,011

616,372

Capital and reserves

 

Called up share capital

1,250

1,250

Profit and loss account

510,761

615,122

Shareholders' funds

 

512,011

616,372

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 17 March 2025 and signed on its behalf by:
 

.........................................
Mr K B Brant
Director

 

K.B.& Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: 22-24 Broad Street, Wokingham, Berkshire, RG40 1BA.

The principal place of business is: Cherry Hill, Church Lane, Finchampstead, Wokingham, Berkshire, RG40 4LN, .

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

K.B.& Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% on the reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade debtors

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

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 4).

 

K.B.& Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 October 2023

35,985

35,985

At 30 September 2024

35,985

35,985

Depreciation

At 1 October 2023

19,637

19,637

Charge for the year

4,087

4,087

At 30 September 2024

23,724

23,724

Carrying amount

At 30 September 2024

12,261

12,261

At 30 September 2023

16,348

16,348

5

Stocks

2024
£

2023
£

Work in progress

117,600

883,693

6

Debtors

2024
£

2023
£

Trade debtors

50,469

7

Other debtors

14,136

18,921

64,605

18,928

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

10,999

17,431

Taxation and social security

2,025

3,490

Accruals and deferred income

3,500

3,100

Other creditors

2,716

286,325

19,240

310,346