Registered number
07803050
KBB Complete Ltd
Filleted Accounts
31 October 2024
KBB Complete Ltd
Registered number: 07803050
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 92,868 206,788
Current assets
Stocks 35,000 71,000
Debtors 4 13,556 17,227
Cash at bank and in hand 152,780 67,593
201,336 155,820
Creditors: amounts falling due within one year 5 (247,002) (207,665)
Net current liabilities (45,666) (51,845)
Total assets less current liabilities 47,202 154,943
Creditors: amounts falling due after more than one year 6 (32,996) (110,712)
Net assets 14,206 44,231
Capital and reserves
Called up share capital 100 100
Profit and loss account 14,106 44,131
Shareholders' funds 14,206 44,231
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Troy Kendrick-Thorpe
Director
Approved by the board on 25 March 2025
KBB Complete Ltd
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 25% reducing balance
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2023 121,558 63,054 128,712 313,324
Additions - 3,273 61,098 64,371
Disposals (121,558) - (70,135) (191,693)
At 31 October 2024 - 66,327 119,675 186,002
Depreciation
At 1 November 2023 - 39,100 67,436 106,536
Charge for the year - 6,807 24,150 30,957
On disposals - - (44,359) (44,359)
At 31 October 2024 - 45,907 47,227 93,134
Net book value
At 31 October 2024 - 20,420 72,448 92,868
At 31 October 2023 121,558 23,954 61,276 206,788
4 Debtors 2024 2023
£ £
Other debtors 13,556 17,227
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 19,333
Obligations under finance lease and hire purchase contracts 9,359 14,292
Trade creditors 127,702 116,682
Taxation and social security costs 95,587 48,420
Other creditors 4,354 8,938
247,002 207,665
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,012 76,876
Obligations under finance lease and hire purchase contracts 23,984 33,836
32,996 110,712
7 Controlling party
The company is controlled by the directors by virtue of their shareholdings.
8 Other information
KBB Complete Ltd is a private company limited by shares and incorporated in England. Its registered office is:
12 Granary Wharf Business Park
Wetmore Road
Burton on Trent
Staffordshire
DE14 1DU
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