Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-3117152023-08-01falseWholesale distribution of building materials and purpose made joinery.falsetruefalse 01768740 2023-08-01 2024-07-31 01768740 2022-08-01 2023-07-31 01768740 2024-07-31 01768740 2023-07-31 01768740 2022-08-01 01768740 c:Director1 2023-08-01 2024-07-31 01768740 d:Buildings d:LongLeaseholdAssets 2023-08-01 2024-07-31 01768740 d:MotorVehicles 2023-08-01 2024-07-31 01768740 d:MotorVehicles 2024-07-31 01768740 d:MotorVehicles 2023-07-31 01768740 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 01768740 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 01768740 d:FurnitureFittings 2023-08-01 2024-07-31 01768740 d:FurnitureFittings 2024-07-31 01768740 d:FurnitureFittings 2023-07-31 01768740 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 01768740 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 01768740 d:ComputerEquipment 2023-08-01 2024-07-31 01768740 d:ComputerEquipment 2024-07-31 01768740 d:ComputerEquipment 2023-07-31 01768740 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 01768740 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 01768740 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 01768740 d:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 01768740 d:CurrentFinancialInstruments 2024-07-31 01768740 d:CurrentFinancialInstruments 2023-07-31 01768740 d:Non-currentFinancialInstruments 2024-07-31 01768740 d:Non-currentFinancialInstruments 2023-07-31 01768740 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 01768740 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 01768740 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-31 01768740 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 01768740 d:ShareCapital 2024-07-31 01768740 d:ShareCapital 2023-07-31 01768740 d:CapitalRedemptionReserve 2024-07-31 01768740 d:CapitalRedemptionReserve 2023-07-31 01768740 d:RetainedEarningsAccumulatedLosses 2024-07-31 01768740 d:RetainedEarningsAccumulatedLosses 2023-07-31 01768740 c:OrdinaryShareClass1 2023-08-01 2024-07-31 01768740 c:OrdinaryShareClass1 2024-07-31 01768740 c:OrdinaryShareClass1 2023-07-31 01768740 c:FRS102 2023-08-01 2024-07-31 01768740 c:Audited 2023-08-01 2024-07-31 01768740 c:FullAccounts 2023-08-01 2024-07-31 01768740 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 01768740 d:PlantEquipmentOtherAssetsUnderOperatingLeases 2024-07-31 01768740 d:PlantEquipmentOtherAssetsUnderOperatingLeases 2023-07-31 01768740 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:WithinOneYear 2024-07-31 01768740 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:WithinOneYear 2023-07-31 01768740 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:BetweenOneFiveYears 2024-07-31 01768740 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:BetweenOneFiveYears 2023-07-31 01768740 d:HirePurchaseContracts d:WithinOneYear 2024-07-31 01768740 d:HirePurchaseContracts d:WithinOneYear 2023-07-31 01768740 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-07-31 01768740 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-07-31 01768740 c:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 01768740 2 2023-08-01 2024-07-31 01768740 d:AcceleratedTaxDepreciationDeferredTax 2024-07-31 01768740 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 01768740 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-07-31 01768740 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-07-31 01768740 d:LeasedAssetsHeldAsLessee 2024-07-31 01768740 d:LeasedAssetsHeldAsLessee 2023-07-31 01768740 e:PoundSterling 2023-08-01 2024-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01768740









KINGSBURY BUILDERS MERCHANTS LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
KINGSBURY BUILDERS MERCHANTS LIMITED
REGISTERED NUMBER: 01768740

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible fixed assets
 4 
120,622
149,293

  
120,622
149,293

Current assets
  

Stocks
 5 
533,100
568,471

Debtors: amounts falling due within one year
 6 
448,347
507,097

Cash at bank and in hand
 7 
327,300
43,982

  
1,308,747
1,119,550

Creditors: amounts falling due within one year
 8 
(868,500)
(764,239)

Net current assets
  
 
 
440,247
 
 
355,311

Total assets less current liabilities
  
560,869
504,604

Creditors: amounts falling due after more than one year
 9 
-
(6,766)

Provisions for liabilities
  

Deferred tax
 11 
(30,156)
(21,830)

  
 
 
(30,156)
 
 
(21,830)

Net assets
  
530,713
476,008


Capital and reserves
  

Called up share capital 
 12 
900
900

Capital redemption reserve
  
100
100

Profit and loss account
  
529,713
475,008

  
530,713
476,008

Page 1

 
KINGSBURY BUILDERS MERCHANTS LIMITED
REGISTERED NUMBER: 01768740
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2024

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by 




A N Bhudia
Director
Date: 29 April 2025

The notes on pages 3 to 13 form part of these financial statements.

Page 2

 
KINGSBURY BUILDERS MERCHANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Kingsbury Builders Merchants Limited is a limited liability company incorporated in England, registered number 01768740. The registered office is 61 Caversham Road, Kentish Town, London, NW5 2DH. 
The principal activity of the company was that of wholesale distribution of building materials and purpose made joinery.
The presentational currency of these financial statements is in GBP, rounded to the nearest £1.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

Based on the cashflow forecasts and existing reserves of the company and its parent, the directors do not consider there to be a material uncertainty to the company’s ability to continue as a going concern and are therefore satisfied that the going concern basis is appropriate for the preparation of these financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
KINGSBURY BUILDERS MERCHANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Long-term leasehold property
-
Over term of lease
Motor vehicles
-
20%
Reducing balance
Fixtures and fittings
-
15%
Reducing balance
Computer equipment
-
3 years straight line

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
KINGSBURY BUILDERS MERCHANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.



 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.




 

Page 5

 
KINGSBURY BUILDERS MERCHANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary
Page 6

 
KINGSBURY BUILDERS MERCHANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.12

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.13

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 7

 
KINGSBURY BUILDERS MERCHANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 17 (2023 - 15).

Page 8

 
KINGSBURY BUILDERS MERCHANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 August 2023
342,937
141,930
2,620
487,487



At 31 July 2024

342,937
141,930
2,620
487,487



Depreciation


At 1 August 2023
216,787
118,787
2,620
338,194


Charge for the year on owned assets
19,038
3,471
-
22,509


Charge for the year on financed assets
6,162
-
-
6,162



At 31 July 2024

241,987
122,258
2,620
366,865



Net book value



At 31 July 2024
100,950
19,672
-
120,622



At 31 July 2023
126,150
23,143
-
149,293

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
24,645
123,951

24,645
123,951


5.


Stocks

2024
2023
£
£

Finished goods
533,100
568,471

533,100
568,471


Page 9

 
KINGSBURY BUILDERS MERCHANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Debtors

2024
2023
£
£


Trade debtors
424,403
230,834

Other debtors
13,719
4,787

Prepayments and accrued income
10,225
271,476

448,347
507,097



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
327,300
43,982

327,300
43,982



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
331,994
348,327

Amounts owed to group undertakings
208,290
351,264

Corporation tax
31,407
-

Other taxation and social security
73,186
9,729

Obligations under finance lease and hire purchase contracts
6,766
45,300

Other creditors
208,357
1,869

Accruals and deferred income
8,500
7,750

868,500
764,239



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
-
6,766

-
6,766


Page 10

 
KINGSBURY BUILDERS MERCHANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
6,766
45,300

Between 1-5 years
-
6,766

6,766
52,066

Hire purchase and finance leases are secured over the assets to which they relate.


11.


Deferred taxation




2024
2023


£

£






At beginning of year
(21,830)
(2,788)


Charged to profit or loss
(8,326)
(19,042)



At end of year
(30,156)
(21,830)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(30,156)
(21,830)

(30,156)
(21,830)

Page 11

 
KINGSBURY BUILDERS MERCHANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



900 (2023 - 900) Ordinary shares of £1.00 each
900
900



13.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted £12,279 (2023: £10,585). Contributions totalling £4,657 (2023: £1,869) were payable to the fund at the statement of financial position date and are included in other creditors.


14.


Commitments under operating leases

At 31 July 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


2024
2023

£
£


Not later than 1 year
13,520
13,520

Later than 1 year and not later than 5 years
30,420
43,940

43,940
57,460


15.


Related party transactions

The company has taken advantage of the expemption in Section 33 Related Party Disclosures of FRS 102 not to discuss transactions with members of the group, on the grounds that they are wholly owned within the group.


16.


Controlling party

The parent company of the smallest and largest group for which consolidated financial statements are prepared is Kingsbury Construction Company Limited, a company registered and incorporated in England whose registered office is 61 Caversham Road, Kentish Town, London, NW5 2DH.
The ultimate controlling party is A N Bhudia by virtue of his shareholding in the parent company, Kingsbury Construction Company Limited.

Page 12

 
KINGSBURY BUILDERS MERCHANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

17.


Auditors' information

The auditors' report on the financial statements for the year ended 31 July 2024 was unqualified.

The audit report was signed on 29 April 2025 by Engin Zekia FCA (Senior Statutory Auditor) on behalf of Adler Shine LLP.

 
Page 13