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REGISTERED NUMBER: 00530411 (England and Wales)










REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

P.W. AND J.K. KILLBY LIMITED

P.W. AND J.K. KILLBY LIMITED (REGISTERED NUMBER: 00530411)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 MARCH 2023




Page

Company Information 1

Report of the Director 2

Chartered Accountants' Report 3

Income Statement 4

Statement of Financial Position 5

Notes to the Financial Statements 6


P.W. AND J.K. KILLBY LIMITED

COMPANY INFORMATION
For The Year Ended 31 MARCH 2023







DIRECTOR: Mr P Stratis





REGISTERED OFFICE: 1 Kings Avenue
London
N21 3NA





REGISTERED NUMBER: 00530411 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

P.W. AND J.K. KILLBY LIMITED (REGISTERED NUMBER: 00530411)

REPORT OF THE DIRECTOR
For The Year Ended 31 MARCH 2023

The director presents his report with the financial statements of the company for the year ended 31 March 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of wholesale of meat and meat products.

DIRECTOR
Mr P Stratis held office during the whole of the period from 1 April 2022 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr P Stratis - Director


2 October 2023

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
P.W. AND J.K. KILLBY LIMITED


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of P.W. And J.K. Killby Limited for the year ended 31 March 2023 which comprise the Income Statement, Statement of Financial Position 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 director of P.W. And J.K. Killby Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of P.W. And J.K. Killby Limited and state those matters that we have agreed to state to the director of P.W. And J.K. Killby Limited 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 P.W. And J.K. Killby Limited and its director for our work or for this report.

It is your duty to ensure that P.W. And J.K. Killby Limited 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 P.W. And J.K. Killby Limited. You consider that P.W. And J.K. Killby Limited 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 P.W. And J.K. Killby 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.






AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA


2 October 2023

P.W. AND J.K. KILLBY LIMITED (REGISTERED NUMBER: 00530411)

INCOME STATEMENT
For The Year Ended 31 MARCH 2023

2023 2022
£    £   

REVENUE 8,377,918 7,508,751

Cost of sales 7,364,457 6,627,888
GROSS PROFIT 1,013,461 880,863

Administrative expenses 760,382 630,146
253,079 250,717

Other operating income 1,056,035 11,924
OPERATING PROFIT 1,309,114 262,641


Interest payable and similar expenses 5,326 3,491
PROFIT BEFORE TAXATION 1,303,788 259,150

Tax on profit 247,781 49,167
PROFIT FOR THE FINANCIAL YEAR 1,056,007 209,983

P.W. AND J.K. KILLBY LIMITED (REGISTERED NUMBER: 00530411)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 509,740 510,060

CURRENT ASSETS
Inventories 41,328 13,442
Debtors 5 1,206,190 830,354
Cash at bank and in hand 998,012 648,717
2,245,530 1,492,513
CREDITORS
Amounts falling due within one year 6 1,622,250 932,227
NET CURRENT ASSETS 623,280 560,286
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,133,020

1,070,346

CREDITORS
Amounts falling due after more than one
year

7

-

(93,333

)

PROVISIONS FOR LIABILITIES (96,911 ) (96,911 )
NET ASSETS 1,036,109 880,102

CAPITAL AND RESERVES
Called up share capital 26,250 26,250
Capital redemption reserve 8,750 8,750
Revaluation reserve 9 396,900 396,900
Retained earnings 604,209 448,202
1,036,109 880,102

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 2 October 2023 and were signed by:




Mr P Stratis - Director


P.W. AND J.K. KILLBY LIMITED (REGISTERED NUMBER: 00530411)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 MARCH 2023

1. STATUTORY INFORMATION

P.W. And J.K. Killby 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is 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 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 the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery - 25% reducing balance method
Fixtures and fittings - 25% reducing balance method

Land and building held and used in the Company's own activities for production and supply of goods or for
administration purposes are stated in the statement of financial position at their revalued amounts. Revaluations are carried out regularly so that the carrying amounts do not materially differ form using the fair value at the date of the statement of financial position.

Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve.

Once the property is sold or retired any attributable revaluation surplus that is remaining in the property revaluation reserve is transferred to retained earnings. No transfer is made from the revaluation reserve to retained earnings unless an asset is derecognised.

Inventories
Stock is valued at the lower of cost and net realisable value. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.


P.W. AND J.K. KILLBY LIMITED (REGISTERED NUMBER: 00530411)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 11 ) .

P.W. AND J.K. KILLBY LIMITED (REGISTERED NUMBER: 00530411)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 MARCH 2023

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Short Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 April 2022 490,000 69,069 153,056 712,125
Additions - 4,685 - 4,685
At 31 March 2023 490,000 73,754 153,056 716,810
DEPRECIATION
At 1 April 2022 - 50,088 151,977 202,065
Charge for year - 4,735 270 5,005
At 31 March 2023 - 54,823 152,247 207,070
NET BOOK VALUE
At 31 March 2023 490,000 18,931 809 509,740
At 31 March 2022 490,000 18,981 1,079 510,060

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 412,504 460,030
Amounts owed by group undertakings - 286,205
Other debtors 53,577 84,119
466,081 830,354

Amounts falling due after more than one year:
Other debtors 740,109 -

Aggregate amounts 1,206,190 830,354

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 80,000
Trade creditors 811,768 726,692
Amounts owed to group undertakings 501,931 -
Taxation and social security 259,013 59,742
Other creditors 49,538 65,793
1,622,250 932,227

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 93,333

P.W. AND J.K. KILLBY LIMITED (REGISTERED NUMBER: 00530411)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 MARCH 2023

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 47,035 47,035
Between one and five years 188,140 188,140
In more than five years - 47,035
235,175 282,210

9. RESERVES
Revaluation
reserve
£   
At 1 April 2022
and 31 March 2023 396,900

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in other debtors within one year is an interest free amount of £20,061 (2022: £20,061) due from connected companies and included in other creditors is an interest-free amount of £30,626 (2022: £21,238 receivable), all under common directorship.