6 false false false false false false false false false false true false false false false false false No description of principal activity 2023-08-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 06968409 2023-08-01 2024-07-31 06968409 2024-07-31 06968409 2023-07-31 06968409 2022-08-01 2023-07-31 06968409 2023-07-31 06968409 2022-07-31 06968409 core:FurnitureFittings 2023-08-01 2024-07-31 06968409 core:MotorVehicles 2023-08-01 2024-07-31 06968409 bus:Director1 2023-08-01 2024-07-31 06968409 core:FurnitureFittings 2023-07-31 06968409 core:MotorVehicles 2023-07-31 06968409 core:FurnitureFittings 2024-07-31 06968409 core:AfterOneYear 2024-07-31 06968409 core:AfterOneYear 2023-07-31 06968409 core:WithinOneYear 2024-07-31 06968409 core:WithinOneYear 2023-07-31 06968409 core:ShareCapital 2024-07-31 06968409 core:ShareCapital 2023-07-31 06968409 core:RetainedEarningsAccumulatedLosses 2024-07-31 06968409 core:RetainedEarningsAccumulatedLosses 2023-07-31 06968409 core:MotorVehicles 2023-07-31 06968409 bus:Director1 2023-07-31 06968409 bus:Director1 2022-07-31 06968409 bus:SmallEntities 2023-08-01 2024-07-31 06968409 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 06968409 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 06968409 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 06968409 bus:FullAccounts 2023-08-01 2024-07-31 06968409 core:ToolsEquipment 2023-08-01 2024-07-31 06968409 core:ToolsEquipment 2023-07-31 06968409 core:ToolsEquipment 2024-07-31
COMPANY REGISTRATION NUMBER: 06968409
KOS 5B LIMITED
Filleted Unaudited Financial Statements
31 July 2024
KOS 5B LIMITED
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
6,584
19,810
Current assets
Stocks
21,208
19,354
Debtors
6
6,313
5,914
Cash at bank and in hand
76,976
108,391
---------
---------
104,497
133,659
Creditors: amounts falling due within one year
7
69,297
78,698
---------
---------
Net current assets
35,200
54,961
--------
--------
Total assets less current liabilities
41,784
74,771
Creditors: amounts falling due after more than one year
8
18,124
31,942
--------
--------
Net assets
23,660
42,829
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
23,658
42,827
--------
--------
Shareholders funds
23,660
42,829
--------
--------
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 31 July 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 .
KOS 5B LIMITED
Statement of Financial Position (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 12 July 2025 , and are signed on behalf of the board by:
Mr B Sahatciu
Director
Company registration number: 06968409
KOS 5B LIMITED
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The trade had enjoyed an increase in the turnover during the year ended 31/07/2022 due to to VAT relief of 5.00% extended to 30/09/21 and then replaced with a 12.50% VAT rate until 31/03/22. For the year ended 31/07/23 and subsequent years that relief was no longer available and the standard VAT rate of 20.00% applied.
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 goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Fixtures and fittings
-
10% straight line
Motor vehicles
-
10% straight line
Equipment
-
10% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 6 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 August 2023
8,764
38,000
52,330
99,094
Disposals
( 38,000)
( 38,000)
-------
--------
--------
--------
At 31 July 2024
8,764
52,330
61,094
-------
--------
--------
--------
Depreciation
At 1 August 2023
8,764
26,600
43,920
79,284
Charge for the year
1,826
1,826
Disposals
( 26,600)
( 26,600)
-------
--------
--------
--------
At 31 July 2024
8,764
45,746
54,510
-------
--------
--------
--------
Carrying amount
At 31 July 2024
6,584
6,584
-------
--------
--------
--------
At 31 July 2023
11,400
8,410
19,810
-------
--------
--------
--------
6. Debtors
2024
2023
£
£
Other debtors
6,313
5,914
-------
-------
1) Other debtors - Prepayments
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
43,333
38,115
Corporation tax
10,194
Social security and other taxes
22,164
19,955
Nest Pensions
417
Other creditors
3,383
10,434
--------
--------
69,297
78,698
--------
--------
Other creditors: Accruals,Business Credit Cards, Unpaid salaries, Owed to Directors.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
18,124
31,942
--------
--------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
Balance brought forward and outstanding
2024
2023
£
£
Mr B Sahatciu
( 280)
( 3,439)
----
-------
10. Related party transactions
The company was under the control of Mr Bekim Sahatciu throughout the current and previous year. Mr Bekim Sahatciu is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.