Registration number: 15593949

KRG Commercial Repairs Ltd

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 6

KRG Commercial Repairs Ltd

(Registration number: 15593949)
Balance Sheet as at 31 May 2025

	Note	2025 £
Fixed assets
Tangible assets	4	25,531
Current assets
Stocks	5	3,000
Debtors	6	84,817
Cash at bank and in hand		29,859
		117,676
Creditors: Amounts falling due within one year	7	(127,302)
Net current liabilities		(9,626)
Total assets less current liabilities		15,905
Provisions for liabilities		(737)
Net assets		15,168
Capital and reserves
Called up share capital		100
Retained earnings		15,068
Shareholders' funds		15,168

For the financial period ending 31 May 2025 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 accounts for the period in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 October 2025
 

K R Gooding Director

KRG Commercial Repairs Ltd

Notes to the Unaudited Financial Statements for the Period from 26 March 2024 to 31 May 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Hillside Farm
Woolavington Road
Puriton
Bridgwater
Somerset
TA7 8AA

These financial statements were authorised for issue by the director on 3 October 2025.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional and presentational currency of the company, and rounded to the nearest £.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The financial statements have been prepared on a going concern basis. As at the date of signing the financial statements, the director confirms that the company is in a position to meet its liabilities for a period of 12 months and that there are no foreseeable events which may give rise to liabilities which exceeds the company’s ability to pay.

KRG Commercial Repairs Ltd

Notes to the Unaudited Financial Statements for the Period from 26 March 2024 to 31 May 2025

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Revenue is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue from the provision of services in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
a) the amount of revenue can be reliably measured;
b) it is probable that future economic benefit will flow to the company;
c) the stage of completion of the contract at the end of the reporting period can be reliably measured; and
d) the costs incurred and the costs to complete the contract can be reliably measured.
 

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance
Office equipment	25% reducing balance

KRG Commercial Repairs Ltd

Notes to the Unaudited Financial Statements for the Period from 26 March 2024 to 31 May 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

KRG Commercial Repairs Ltd

Notes to the Unaudited Financial Statements for the Period from 26 March 2024 to 31 May 2025

3	Staff numbers

The average number of persons employed by the company (including the director) during the period was 4.

4	Tangible assets

	Plant and machinery £	Office equipment £	Total £
Cost or valuation
Additions	24,771	9,270	34,041
At 31 May 2025	24,771	9,270	34,041
Depreciation
Charge for the period	6,193	2,317	8,510
At 31 May 2025	6,193	2,317	8,510
Carrying amount
At 31 May 2025	18,578	6,953	25,531

5

Stocks

	2025 £
Other inventories	3,000

6

Debtors

	2025 £
Trade debtors	74,889
Other debtors	4,800
Prepayments	5,128
	84,817

KRG Commercial Repairs Ltd

Notes to the Unaudited Financial Statements for the Period from 26 March 2024 to 31 May 2025

7

Creditors

Due within one year	Note	2025 £
Trade creditors		63,099
Amounts due to related parties	8	31,415
Social security and other taxes		25,238
Other creditors		481
Accruals		4,116
Corporation tax liability		2,953
		127,302

8	Related party transactions

Loans from related parties

	Other related parties	Total
	£	£
2025
Advanced	119,939	119,939
Repaid	(88,524)	(88,524)
At end of period	31,415	31,415

Terms of loans from related parties

During the year, the company received a loan from a company under common control. The loan is interest free and repayable on demand.

Other transactions with related parties
During the year, the company purchased all of its trade and assets from a company under common control, for consideration of £26,154.