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Registered number: 07431920
Kbs Builders Merchants Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2024
Nijjer Accountants Ltd
Chartered Accountants
5-7 Station Road
Longfield
Kent
DA3 7QD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07431920
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 293,135 381,357
293,135 381,357
CURRENT ASSETS
Stocks 5 515,160 550,885
Debtors 6 284,558 227,905
Cash at bank and in hand 90,227 90,733
889,945 869,523
Creditors: Amounts Falling Due Within One Year 7 (500,470 ) (452,244 )
NET CURRENT ASSETS (LIABILITIES) 389,475 417,279
TOTAL ASSETS LESS CURRENT LIABILITIES 682,610 798,636
Creditors: Amounts Falling Due After More Than One Year 8 (295,670 ) (365,342 )
PROVISIONS FOR LIABILITIES
Provisions For Charges (41,106 ) (44,894 )
NET ASSETS 345,834 388,400
CAPITAL AND RESERVES
Called up share capital 10 101 101
Profit and Loss Account 345,733 388,299
SHAREHOLDERS' FUNDS 345,834 388,400
Page 1
Page 2
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mohinder Powar
Director
29 August 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Kbs Builders Merchants Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07431920 . The registered office is 5-7 Station Road, , Longfield, Kent, England,, DA3 7QD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold No Depreciation on Leasehold
Plant & Machinery 15% Reducing Balance Method
Motor Vehicles 25% Reducing Balance Method
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 12)
11 12
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 December 2023 6,087 181,684 691,035 878,806
Additions - 922 - 922
As at 30 November 2024 6,087 182,606 691,035 879,728
Depreciation
As at 1 December 2023 - 134,854 362,595 497,449
Provided during the period - 7,034 82,110 89,144
As at 30 November 2024 - 141,888 444,705 586,593
Net Book Value
As at 30 November 2024 6,087 40,718 246,330 293,135
As at 1 December 2023 6,087 46,830 328,440 381,357
5. Stocks
2024 2023
£ £
Stock 515,160 550,885
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 269,953 213,660
Other debtors 14,605 14,245
284,558 227,905
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 53,559 41,111
Trade creditors 366,584 322,199
Bank loans and overdrafts 10,000 10,000
Other creditors 56,771 45,825
Taxation and social security 13,556 33,109
500,470 452,244
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 94,198 94,198
Bank loans 6,597 16,693
Other creditors 194,875 254,451
295,670 365,342
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 53,559 41,111
Later than one year and not later than five years 94,198 94,198
147,757 135,309
147,757 135,309
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 101 101
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