KL Business Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07375193 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

KL BUSINESS SOLUTIONS LIMITED

Page

Company information

1

Report of the accountants

2

Balance sheet

3

Notes to the financial statements

5

Directors:

Rehan Ahmed

Tauseef A Rashid

Registered office:

14 Derby Road

Stapleford

Nottingham

NG9 7AA

Registered number:

07375193 (England and Wales)

Accountants:

Shipleys Tax Planning Ltd

Chartered Tax Advisers

Wharf House

Victoria Quays

Wharf Street

Sheffield

South Yorkshire

S2 5SY

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 KL Business Solutions Limited for the year ended 31 March 2019

which comprise the Profit and loss account, the Balance sheet and the related notes from the

Company accounting records and from information and explanations you have given to us.

This report is made solely to the Board of Directors of KL Business Solutions Limited, as a body, in

accordance with the terms of our agreement. Our work has been undertake solely to prepare for your

approval the financial statements of KL Business Solutions Limited and state those matters that we

have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by

law, we do not accept or assume responsibility to anyone other than KL Business Solutions Limited

and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that KL Business Solutions Limited has kept adequate accounting records and

to prepare statutory financial statements that give a true and fair view of the Company's assets and

liabilities, financial position and profit. You consider that KL Business Solutions Limited is exempt

from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of KL Business

Solutions Limited. 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.

Shipleys Tax Planning Ltd

31 December 2019

FIXED ASSETS

Tangible assets

4

215,961

263,302

CURRENT ASSETS

Debtors

5

87,637

171,300

Cash at bank and in hand

78,925

31,020

166,562

202,320

CREDITORS

Amounts falling due within one year

6

168,449

133,663

NET CURRENT (LIABILITIES)/ASSETS

(1,887

)

68,657

TOTAL ASSETS LESS CURRENT LIABILITIES

214,074

331,959

CREDITORS

Amounts falling due after more than one year

7

90,954

115,415

NET ASSETS

123,120

216,544

CAPITAL AND RESERVES

Called up share capital

2,000

2,000

Retained earnings

121,120

214,544

SHAREHOLDERS' FUNDS

123,120

216,544

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 applicable to companies subject to the small companies regime.

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 31 December 2019 and were signed on its behalf by:

Rehan Ahmed - Director

1.	STATUTORY INFORMATION

KL Business Solutions Limited 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

50% on cost

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over

the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2018 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

Cost

At 1 April 2018

169,175

26,913

172,736

12,733

381,557

Additions

-

-

-

1,050

1,050

At 31 March 2019

169,175

26,913

172,736

13,783

382,607

Depreciation

At 1 April 2018

14,096

16,622

79,355

8,182

118,255

Charge for year

3,384

5,383

34,547

5,077

48,391

At 31 March 2019

17,480

22,005

113,902

13,259

166,646

Net book value

At 31 March 2019

151,695

4,908

58,834

524

215,961

At 31 March 2018

155,079

10,291

93,381

4,551

263,302

5.

DEBTORS

2019

2018

£

£

Amounts falling due within one year:

Trade debtors

52,709

44,308

Other debtors

16,928

108,992

69,637

153,300

2019

2018

£

£

Amounts falling due after more than one year:

Other debtors

18,000

18,000

Aggregate amounts

87,637

171,300

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

18,687

15,819

Taxation and social security

80,272

46,751

Other creditors

69,490

71,093

168,449

133,663

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other creditors

90,954

115,415

8.	RELATED PARTY DISCLOSURES

During the year the directors wrote off an amount of £65,299 owed by Kingsland Receivables

Ltd, a company wholly owned by Mr T A Rashid and Mr R Ahmed.

The directors also wrote off an amount of £53,646 owed by Quikswitch Ltd, a connected

company of Mr T A Rashid and Mr R Ahmed.

Included in other debtors within one year are amounts owed by Kingsland Receivables Limited

of £Nil (2018: £49,590) and Quikswitch Ltd of £Nil (2018: £39,275).