Kbeverage Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09587927 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2019

for

Kbeverage Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

Mrs Kavita

A Yadav

REGISTERED OFFICE:

Office No.17 - Oak Lodge Business Centre

Little Melton

Norwich

NR9 3LB

REGISTERED NUMBER:

09587927 (England and Wales)

ACCOUNTANTS:

Andrew Bloy Ltd

Chartered Accountants

10 Hobart Road

Loddon

Norfolk

NR14 6LD

FIXED ASSETS

Intangible assets

4

136,356

139,737

Tangible assets

5

2,056,749

1,938,354

2,193,105

2,078,091

CURRENT ASSETS

Stocks

60,000

50,000

Debtors

6

61,840

92,083

Cash at bank and in hand

127,948

130,092

249,788

272,175

CREDITORS

Amounts falling due within one year

7

1,188,413

1,128,291

NET CURRENT LIABILITIES

(938,625

)

(856,116

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,254,480

1,221,975

CREDITORS

Amounts falling due after more than one year

8

(1,011,357

)

(1,168,544

)

PROVISIONS FOR LIABILITIES

(160,022

)

(107,119

)

NET ASSETS/(LIABILITIES)

83,101

(53,688

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

83,001

(53,788

)

SHAREHOLDERS' FUNDS

83,101

(53,688

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 21 October 2019 and were signed on its behalf by:

Mrs Kavita - Director

1.	STATUTORY INFORMATION

Kbeverage Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

15% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 167 (2018 - 130 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2018

216,903

Additions

50,000

At 31 May 2019

266,903

AMORTISATION

At 1 June 2018

77,166

Charge for year

53,381

At 31 May 2019

130,547

NET BOOK VALUE

At 31 May 2019

136,356

At 31 May 2018

139,737

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2018

2,422,409

Additions

566,772

At 31 May 2019

2,989,181

DEPRECIATION

At 1 June 2018

484,055

Charge for year

448,377

At 31 May 2019

932,432

NET BOOK VALUE

At 31 May 2019

2,056,749

At 31 May 2018

1,938,354

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Trade debtors

37,990

60,131

Other debtors

23,850

31,952

61,840

92,083

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Bank loans and overdrafts

-

136,000

Hire purchase contracts

410,620

292,845

Trade creditors

184,589

239,227

Taxation and social security

88,197

60,181

Other creditors

505,007

400,038

1,188,413

1,128,291

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.19

31.5.18

£

£

Bank loans

-

306,000

Hire purchase contracts

1,011,357

862,544

1,011,357

1,168,544

9.	RELATED PARTY DISCLOSURES

The company owed Mrs Kavita £270,000 at 31 May 2019 (2018: £200,000), by virtue of her director's loan

account. This loan is given interest free, unsecured and subordinated in favour of third-party creditors, with the

intention of repayment occurring from the sale proceeds in the event of the company's sale.

The company owed Mr A Yadav £103,531 at 31 May 2019 (2018: £88,223), by virtue of his director's loan

account.

10.	ULTIMATE CONTROLLING PARTY

The company is under the control of Mr A Yadav and Mrs Kavita through virtue of their 100% ordinary share

holding (50 ordinary shares each).

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Kbeverage Ltd for the year ended 31 May 2019 which comprise the Income Statement, Balance

Sheet and the related notes from the company's accounting records and from information and explanations you have

given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Kbeverage Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kbeverage Ltd and state those matters that we have agreed to state to the Board of Directors of Kbeverage Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kbeverage Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Kbeverage Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kbeverage Ltd. You consider that Kbeverage Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Kbeverage Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Andrew Bloy Ltd

Chartered Accountants

10 Hobart Road

Loddon

Norfolk

NR14 6LD

21 October 2019