Company Registration No. 08539801 (England and Wales)
KB Finance Limited
Unaudited accounts
for the year ended 31 May 2017
KB Finance Limited
Unaudited accounts
Contents
KB Finance Limited
Company Information
for the year ended 31 May 2017
Company Number
08539801 (England and Wales)
Registered Office
Churchill House, Suite 301
120 Bunns Lane
Mill Hill
London
NW7 2AS
Accountants
Platts
Churchill House, Suite 301
120 Bunns Lane
Mill Hill
London
NW7 2AS
KB Finance Limited
Statement of financial position
as at 31 May 2017
Cash at bank and in hand
39,079
18,420
Creditors: amounts falling due within one year
(10,739)
(8,284)
Net current assets
28,340
17,136
Called up share capital
100
100
Profit and loss account
28,240
17,036
Shareholders' funds
28,340
17,136
For the year ending 31 May 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 23 February 2018.
Mrs K D Berger
Director
Company Registration No. 08539801
KB Finance Limited
Notes to the Accounts
for the year ended 31 May 2017
KB Finance Limited is a private company, limited by shares, registered in England and Wales, registration number 08539801. The registered office is Churchill House, Suite 301, 120 Bunns Lane, Mill Hill, London, NW7 2AS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended
31 May 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 June 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in note
9 below.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
5
Creditors: amounts falling due within one year
2017
2016
Taxes and social security
4,912
957
Loans from directors
5,827
7,327
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
KB Finance Limited
Notes to the Accounts
for the year ended 31 May 2017
7
Transactions with related parties
The Director owns the entire issued share capital of the company.
8
Average number of employees
During the year the average number of employees was 1 (2016: 1).
9
Reconciliations on adoption of FRS 102
The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.
