Company registration number 06320319 (England and Wales)
K E CONTRACTING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
K E CONTRACTING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
K E CONTRACTING LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2024
28 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,509
4,683
Current assets
Stocks
-
675,628
Debtors
4
3,389,997
1,087,938
Cash at bank and in hand
-
0
2,335,615
3,389,997
4,099,181
Creditors: amounts falling due within one year
5
(886,795)
(1,828,402)
Net current assets
2,503,202
2,270,779
Total assets less current liabilities
2,506,711
2,275,462
Creditors: amounts falling due after more than one year
6
(9,847)
(20,990)
Net assets
2,496,864
2,254,472
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
2,496,863
2,254,471
Total equity
2,496,864
2,254,472

For the financial year ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has 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 her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 17 July 2025
L V Thorpe
Director
Company registration number 06320319 (England and Wales)
K E CONTRACTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 2 -
1
Accounting policies
Company information

K E Contracting Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Moorbank Close, Sheffield, S10 5TP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue from the sale of property is recognised when the significant risks and rewards of ownership of the property have passed to the buyer (usually on legal completion).

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
33% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss.

 

1.5
Stocks

Stocks comprises of property and related development work to date and is held at cost. Impairment provisions are made where the market value of the property is less than the aggregate of the initial property cost and the development expenditure.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

K E CONTRACTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

 

K E CONTRACTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 March 2023 and 28 February 2024
918
11,000
11,918
Depreciation and impairment
At 1 March 2023
876
6,359
7,235
Depreciation charged in the year
14
1,160
1,174
At 28 February 2024
890
7,519
8,409
Carrying amount
At 28 February 2024
28
3,481
3,509
At 28 February 2023
42
4,641
4,683
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
3,381,997
1,079,938
Deferred tax asset
8,000
8,000
3,389,997
1,087,938
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
13,953
10,648
Trade creditors
45,948
45,460
Corporation tax
372,745
361,658
Other creditors
454,149
1,410,636
886,795
1,828,402
K E CONTRACTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
5
Creditors: amounts falling due within one year
(Continued)
- 5 -

 

 

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
9,847
20,990

 

 

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
1
1
1
1
K E CONTRACTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 6 -
8
Related party transactions

Lawson Property Services Limited

The above company is owned by the partner of L V Thorpe. At the year end there is an amount due from Lawson Property Services Limited of £238,332 (2023: £238,332).

 

S10 Design & Build Limited

The above company is jointly owned by L V Thorpe and her partner. At the beginning of the financial year, there was an amount owed to S10 Design & Build Limited of £423,363, during the year a repayments of £114,000 was made. There is now an amount due to S10 Design & Build Limited of £309,363.

 

Thorcer Inc Limited

The above company is owned by L V Thorpe. At the beginning of the financial year, there was an amount due from Thorcer Inc Limited of £771,250, a further £1,480,350 was advanced. The amount outstanding at the year end is £2,251,600.

 

Lauren Thorpe Designs Limited

The above company is owned by L V Thorpe. There were amounts paid to Lauren Thorpe Designs Limited duing the year of £890,518 which remain outstanding at the year end.

 

2024-02-282023-03-01falsefalsefalseCCH SoftwareCCH Accounts Production 2025.200No description of principal activityL V ThorpeE Thorpe063203192023-03-012024-02-28063203192024-02-28063203192023-02-2806320319core:FurnitureFittings2024-02-2806320319core:MotorVehicles2024-02-2806320319core:FurnitureFittings2023-02-2806320319core:MotorVehicles2023-02-2806320319core:CurrentFinancialInstrumentscore:WithinOneYear2024-02-2806320319core:CurrentFinancialInstrumentscore:WithinOneYear2023-02-2806320319core:Non-currentFinancialInstrumentscore:AfterOneYear2024-02-2806320319core:Non-currentFinancialInstrumentscore:AfterOneYear2023-02-2806320319core:CurrentFinancialInstruments2024-02-2806320319core:CurrentFinancialInstruments2023-02-2806320319core:ShareCapital2024-02-2806320319core:ShareCapital2023-02-2806320319core:RetainedEarningsAccumulatedLosses2024-02-2806320319core:RetainedEarningsAccumulatedLosses2023-02-2806320319core:ShareCapitalOrdinaryShareClass12024-02-2806320319core:ShareCapitalOrdinaryShareClass12023-02-2806320319bus:Director12023-03-012024-02-2806320319core:FurnitureFittings2023-03-012024-02-2806320319core:MotorVehicles2023-03-012024-02-28063203192022-03-012023-02-2806320319core:FurnitureFittings2023-02-2806320319core:MotorVehicles2023-02-28063203192023-02-2806320319core:WithinOneYear2024-02-2806320319core:WithinOneYear2023-02-2806320319core:Non-currentFinancialInstruments2024-02-2806320319core:Non-currentFinancialInstruments2023-02-2806320319bus:OrdinaryShareClass12023-03-012024-02-2806320319bus:OrdinaryShareClass12024-02-2806320319bus:OrdinaryShareClass12023-02-2806320319bus:PrivateLimitedCompanyLtd2023-03-012024-02-2806320319bus:FRS1022023-03-012024-02-2806320319bus:AuditExemptWithAccountantsReport2023-03-012024-02-2806320319bus:CompanySecretary12023-03-012024-02-2806320319bus:SmallCompaniesRegimeForAccounts2023-03-012024-02-2806320319bus:FullAccounts2023-03-012024-02-28xbrli:purexbrli:sharesiso4217:GBP