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COMPANY REGISTRATION NUMBER: 03402127
K W Solutions Limited
Filleted Unaudited Financial Statements
30 September 2024
K W Solutions Limited
Financial Statements
Year ended 30th September 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
K W Solutions Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
185,032
185,042
Current assets
Debtors
6
2,387
Cash at bank and in hand
61,021
48,631
--------
--------
61,021
51,018
Creditors: amounts falling due within one year
7
32,064
32,314
--------
--------
Net current assets
28,957
18,704
---------
---------
Total assets less current liabilities
213,989
203,746
Provisions
Taxation including deferred tax
10,027
4,641
---------
---------
Net assets
203,962
199,105
---------
---------
Capital and reserves
Called up share capital
8
5
5
Revaluation reserve
90,105
90,105
Profit and loss account
113,852
108,995
---------
---------
Shareholders funds
203,962
199,105
---------
---------
These 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 statement of income and retained earnings has not been delivered.
For the year ending 30th September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
K W Solutions Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 25 June 2025 , and are signed on behalf of the board by:
K M White
Director
Company registration number: 03402127
K W Solutions Limited
Notes to the Financial Statements
Year ended 30th September 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 32 Shakespear Drive, Westcliff On Sea, Essex, SS0 9AB, United Kingdom.
2. Statement of compliance
These 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 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 financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for rental, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% reducing balance
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Land and buildings
Equipment
Total
£
£
£
Cost
At 1st October 2023 and 30th September 2024
185,000
9,253
194,253
---------
-------
---------
Depreciation
At 1st October 2023
9,211
9,211
Charge for the year
10
10
---------
-------
---------
At 30th September 2024
9,221
9,221
---------
-------
---------
Carrying amount
At 30th September 2024
185,000
32
185,032
---------
-------
---------
At 30th September 2023
185,000
42
185,042
---------
-------
---------
The freehold investment properties have been valued by the director at open market value at 30 September 2024. The historical cost of the freehold investment properties is £86,160.
6. Debtors
2024
2023
£
£
Other debtors
2,387
----
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
3,051
2,613
Director loan accounts
29,013
29,701
--------
--------
32,064
32,314
--------
--------
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
5
5
5
5
----
----
----
----
9. Related party transactions
At the year end the company owed the director £29,013 (2023: £29,701), which is shown amongst creditors falling due within one year.