Company registration number 05173903 (England and Wales)
KVB DESIGN LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
Century House
Wargrave Road
Henley-on-Thames
Oxfordshire
United Kingdom
RG9 2LT
KVB DESIGN LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
KVB DESIGN LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mrs. L. Pavelson Beard
Mr. K. Beard
Secretary
Mrs. L. Pavelson Beard
Company number
05173903
Registered office
47 Duke Street
Henley-on-Thames
Oxfordshire
RG9 1UR
Accountants
Verallo
Century House
Wargrave Road
Henley-on-Thames
Oxfordshire
United Kingdom
RG9 2LT
KVB DESIGN LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
3
94,915
113,064
Current assets
Debtors
4
558,470
537,965
Cash at bank and in hand
233,250
217,838
791,720
755,803
Creditors: amounts falling due within one year
5
(54,181)
(63,579)
Net current assets
737,539
692,224
Net assets
832,454
805,288
Capital and reserves
Called up share capital
7
110
110
Profit and loss reserves
832,344
805,178
Total equity
832,454
805,288
KVB DESIGN LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 3 -

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

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 29 August 2025 and are signed on its behalf by:
Mrs. L. Pavelson Beard
Director
Company Registration No. 05173903
The notes on pages 4 to 9 form part of these financial statements
KVB DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
1
Accounting policies
Company information

KVB Design Limited is a private company limited by shares incorporated in England and Wales. The registered office is 47 Duke Street, Henley-on-Thames, Oxfordshire, RG9 1UR.

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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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
15% reducing balance
Computer equipment
33.33% straight line
Motor vehicles
15% 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 (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

KVB DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
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, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

KVB DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts 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. A m ounts 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.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

KVB DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 7 -
1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Share-based payments

Equity-settled share-based payments are measured at fair value at the date date of exercise. The fair value determined at the exercise date is expensed when the shares eventually vest. A corresponding adjustment is made to equity.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

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

2024
2023
Number
Number
Total
5
6
KVB DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2024
12,914
18,829
118,343
150,086
Additions
-
0
1,744
-
0
1,744
At 31 December 2024
12,914
20,573
118,343
151,830
Depreciation and impairment
At 1 January 2024
9,213
12,830
14,979
37,022
Depreciation charged in the year
555
3,833
15,505
19,893
At 31 December 2024
9,768
16,663
30,484
56,915
Carrying amount
At 31 December 2024
3,146
3,910
87,859
94,915
At 31 December 2023
3,701
5,999
103,364
113,064
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
142,661
116,425
Other debtors
408,186
414,869
Prepayments and accrued income
7,623
6,671
558,470
537,965
5
Creditors: amounts falling due within one year
2024
2023
£
£
as restated
Trade creditors
2,907
2,856
Corporation tax
31,170
18,365
Other taxation and social security
12,270
11,227
Other creditors
5,009
21,306
Accruals and deferred income
2,825
9,825
54,181
63,579
KVB DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
6
Share-based payment transactions
Number of share options
2024
2023
Number
Number
Outstanding at 1 January 2024 and 31 December 2024
27,500
27,500
Exercisable at 31 December 2024
-
0
-
0

The options outstanding at 31 December 2024 had an exercise price of £0.98 per share.

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 0.1p each
100,000
100,000
100
100
Ordinary A shares of 0.1p each
10,000
10,000
10
10
110,000
110,000
110
110
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
80,667
102,667
2024-12-31 2024-01-01 false false false 29 August 2025 CCH Software CCH Accounts Production 2025.200 No description of principal activity Mr. K. Beard Mr. K. Beard Mrs. L. Pavelson Beard 05173903 2024-01-01 2024-12-31 05173903 bus:CompanySecretaryDirector1 2024-01-01 2024-12-31 05173903 bus:Director1 2024-01-01 2024-12-31 05173903 bus:CompanySecretary1 2024-01-01 2024-12-31 05173903 bus:Director2 2024-01-01 2024-12-31 05173903 bus:RegisteredOffice 2024-01-01 2024-12-31 05173903 2024-12-31 05173903 2023-12-31 05173903 core:FurnitureFittings 2024-12-31 05173903 core:ComputerEquipment 2024-12-31 05173903 core:MotorVehicles 2024-12-31 05173903 core:FurnitureFittings 2023-12-31 05173903 core:ComputerEquipment 2023-12-31 05173903 core:MotorVehicles 2023-12-31 05173903 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 05173903 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 05173903 core:ShareCapital 2024-12-31 05173903 core:ShareCapital 2023-12-31 05173903 core:RetainedEarningsAccumulatedLosses 2024-12-31 05173903 core:RetainedEarningsAccumulatedLosses 2023-12-31 05173903 core:ShareCapitalOrdinaryShareClass1 2024-12-31 05173903 core:ShareCapitalOrdinaryShareClass1 2023-12-31 05173903 core:ShareCapitalOrdinaryShareClass2 2024-12-31 05173903 core:ShareCapitalOrdinaryShareClass2 2023-12-31 05173903 core:ShareCapitalOrdinaryShares 2024-12-31 05173903 core:ShareCapitalOrdinaryShares 2023-12-31 05173903 core:FurnitureFittings 2024-01-01 2024-12-31 05173903 core:ComputerEquipment 2024-01-01 2024-12-31 05173903 core:MotorVehicles 2024-01-01 2024-12-31 05173903 2023-01-01 2023-12-31 05173903 core:FurnitureFittings 2023-12-31 05173903 core:ComputerEquipment 2023-12-31 05173903 core:MotorVehicles 2023-12-31 05173903 2023-12-31 05173903 core:CurrentFinancialInstruments 2024-12-31 05173903 core:CurrentFinancialInstruments 2023-12-31 05173903 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 05173903 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 05173903 bus:OrdinaryShareClass1 2024-12-31 05173903 bus:OrdinaryShareClass1 2023-12-31 05173903 bus:OrdinaryShareClass2 2024-12-31 05173903 bus:OrdinaryShareClass2 2023-12-31 05173903 bus:AllOrdinaryShares 2024-12-31 05173903 bus:AllOrdinaryShares 2023-12-31 05173903 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05173903 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05173903 bus:FRS102 2024-01-01 2024-12-31 05173903 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 05173903 bus:FullAccounts 2024-01-01 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP