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COMPANY REGISTRATION NUMBER: 12843297
KB Mead Limited
Filleted Unaudited Abridged Financial Statements
31 August 2024
KB Mead Limited
Abridged Financial Statements
Year ended 31 August 2024
Contents
Page
Report to the board of directors on the preparation of the unaudited statutory abridged financial statements
1
Abridged statement of financial position
2
Notes to the abridged financial statements
4
KB Mead Limited
Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of KB Mead Limited
Year ended 31 August 2024
As described on the abridged statement of financial position, the directors of the company are responsible for the preparation of the abridged financial statements for the year ended 31 August 2024, which comprise the abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions I have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
ADK Chartered accountants
Scottsdale House Springfield Avenue Harrogate England HG1 2HR
28 April 2025
KB Mead Limited
Abridged Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
Current assets
Investments
4
80
80
Cash at bank and in hand
129,214
59,549
---------
--------
129,294
59,629
Creditors: amounts falling due within one year
4,974
4,844
---------
--------
Net current assets
124,320
54,785
---------
--------
Total assets less current liabilities
124,320
54,785
---------
--------
Net assets
124,320
54,785
---------
--------
Capital and reserves
Profit and loss account
124,320
54,785
---------
--------
Shareholders funds
124,320
54,785
---------
--------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged income statement has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged income statement and the abridged statement of financial position for the year ending 31 August 2024 in accordance with Section 444(2A) of the Companies Act 2006.
KB Mead Limited
Abridged Statement of Financial Position (continued)
31 August 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 28 April 2025 , and are signed on behalf of the board by:
Mr B Mead
Director
Company registration number: 12843297
KB Mead Limited
Notes to the Abridged Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Langsett Grove, Harrogate, HG3 2FP, England.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Investments
2024
2023
£
£
Other investments
80
80
----
----
5. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr B Mead
( 2,354)
( 46)
( 2,400)
Mrs K Villamor
( 1,994)
( 46)
( 2,040)
-------
----
-------
( 4,348)
( 92)
( 4,440)
-------
----
-------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr B Mead
( 1,470)
( 884)
( 2,354)
Mrs K Villamor
( 40)
( 1,954)
( 1,994)
-------
-------
-------
( 1,510)
( 2,838)
( 4,348)
-------
-------
-------
6. Related party transactions
The company was under the joint control of Mr B Mead and Mrs K Villamor .