Registration number: 04441321

KL Supplies Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

KL Supplies Limited

(Registration number: 04441321)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	-	6,920
Tangible assets	5	437,537	132,179
		437,537	139,099
Current assets
Stocks		57,763	68,221
Debtors	6	89,344	89,148
Cash at bank and in hand		58,341	53,643
		205,448	211,012
Creditors: Amounts falling due within one year	7	(181,524)	(165,634)
Net current assets		23,924	45,378
Total assets less current liabilities		461,461	184,477
Creditors: Amounts falling due after more than one year	7	(28,643)	(58,719)
Provisions for liabilities		(82,441)	(5,154)
Net assets		350,377	120,604
Capital and reserves
Called up share capital		100	100
Revaluation reserve		237,172	-
Retained earnings		113,105	120,504
Shareholders' funds		350,377	120,604

KL Supplies Limited

(Registration number: 04441321)
Balance Sheet as at 31 March 2025

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 November 2025 and signed on its behalf by:
 

......................................... E Lawless Company secretary and director

......................................... D P Lawless Director

KL Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
Unit 6 Quarry Court
Pitstone Green Business Park
Quarry Road Pitstone
Bucks
LU7 9GW

2	Accounting policies

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.

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.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

KL Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Tangible assets

Tangible assets except freehold property 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.

Freehold property are stated at the revalued amount less any depreciation or impairment losses subsequently accumulated subsequent to initial recognition. Previously they were carried under the cost model.

Revaluations are carried out regularly so that the carrying amount approximates to the fair value at the reporting date.

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
Land and buildings	2% straight line basis
Furniture, fittings and equipment	20% straight line basis
Motor vehicles	25% straight line basis
Other tangible assets	20% straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

KL Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line basis

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2024 - 8).

KL Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2024	104,184	104,184
At 31 March 2025	104,184	104,184
Amortisation
At 1 April 2024	97,264	97,264
Amortisation charge	6,920	6,920
At 31 March 2025	104,184	104,184
Carrying amount
At 31 March 2025	-	-
At 31 March 2024	6,920	6,920

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £
Cost or valuation
At 1 April 2024	189,628	19,133	39,490	4,461
Revaluations	316,229	-	-	-
At 31 March 2025	505,857	19,133	39,490	4,461
Depreciation
At 1 April 2024	78,065	18,016	19,994	4,458
Charge for the year	3,792	577	6,499	3
At 31 March 2025	81,857	18,593	26,493	4,461
Carrying amount
At 31 March 2025	424,000	540	12,997	-
At 31 March 2024	111,563	1,117	19,496	3

KL Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

	Total £
Cost or valuation
At 1 April 2024	252,712
Revaluations	316,229
At 31 March 2025	568,941
Depreciation
At 1 April 2024	120,533
Charge for the year	10,871
At 31 March 2025	131,404
Carrying amount
At 31 March 2025	437,537
At 31 March 2024	132,179

Included within the net book value of land and buildings above is £424,000 (2024 - £111,564) in respect of freehold land and buildings.
 

Revaluation

The fair value of the company's Freehold property was revalued on 31 March 2025. An independent valuer was not involved. .
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £107,771 (2024 - £111,564).

6

Debtors

Current	2025 £	2024 £
Trade debtors	89,311	88,787
Other debtors	33	361
	89,344	89,148

KL Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Loans and borrowings	28,789	28,790
Trade creditors	88,244	90,233
Taxation and social security	9,484	9,180
Other creditors	55,007	37,431
	181,524	165,634

Creditors: amounts falling due after more than one year

	2025 £	2024 £
Due after one year
Loans and borrowings	28,643	58,719

Creditors include bank loans which are secured by way of a fixed charge over the property and other assets of the company.