Registered number
07887040
K S Engineering (Midlands) Ltd
Filleted Accounts
31 December 2024
K S Engineering (Midlands) Ltd
Registered number: 07887040
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 20,000 20,000
Tangible assets 4 8,990 10,638
28,990 30,638
Current assets
Stocks 560 485
Debtors 5 54,921 53,729
Cash at bank and in hand 13,379 23,614
68,860 77,828
Creditors: amounts falling due within one year 6 (71,580) (47,514)
Net current (liabilities)/assets (2,720) 30,314
Total assets less current liabilities 26,270 60,952
Creditors: amounts falling due after more than one year 7 (4,167) (14,167)
Net assets 22,103 46,785
Capital and reserves
Called up share capital 100 100
Profit and loss account 22,003 46,685
Shareholders' funds 22,103 46,785
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr K Singh
Director
Approved by the board on 12 September 2025
K S Engineering (Midlands) Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Motor vehilces 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 20,000
At 31 December 2024 20,000
Amortisation
At 31 December 2024 -
Net book value
At 31 December 2024 20,000
At 31 December 2023 20,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2024 37,017 2,949 39,966
At 31 December 2024 37,017 2,949 39,966
Depreciation
At 1 January 2024 26,904 2,424 29,328
Charge for the year 1,517 131 1,648
At 31 December 2024 28,421 2,555 30,976
Net book value
At 31 December 2024 8,596 394 8,990
At 31 December 2023 10,113 525 10,638
5 Debtors 2024 2023
£ £
Trade debtors 54,921 44,516
Other debtors - 9,213
54,921 53,729
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 15,334 5,544
Amounts owed to group undertakings and undertakings in which the company has a participating interest 306 -
Taxation and social security costs 22,641 17,745
Other creditors 23,299 14,225
71,580 47,514
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 4,167 14,167
8 Other information
K S Engineering (Midlands) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
496-498 Bearwood Road
Smethwick
B66 4HB
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