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REGISTERED NUMBER: 07379620 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

K&S AEROSPACE COMPONENTS LIMITED

K&S AEROSPACE COMPONENTS LIMITED (REGISTERED NUMBER: 07379620)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


K&S AEROSPACE COMPONENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







Directors: Mr S P Gooch
Mr K C Hatch





Registered office: 14 South Hampshire Industrial Park
Totton
Southampton
SO40 3SA





Registered number: 07379620 (England and Wales)





Accountants: M Squared Accounting Ltd
Botley Mills
Mill Hill
Botley
Southampton
Hampshire
SO30 2GB

K&S AEROSPACE COMPONENTS LIMITED (REGISTERED NUMBER: 07379620)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 80,001 145,516
80,001 145,516

Current assets
Stocks 124,017 145,743
Debtors 6 443,581 376,462
Cash at bank 521,703 583,805
1,089,301 1,106,010
Creditors
Amounts falling due within one year 7 172,421 248,144
Net current assets 916,880 857,866
Total assets less current liabilities 996,881 1,003,382

Creditors
Amounts falling due after more than one
year

8

8,922

13,577
Net assets 987,959 989,805

Capital and reserves
Called up share capital 100 100
Retained earnings 987,859 989,705
987,959 989,805

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 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.

K&S AEROSPACE COMPONENTS LIMITED (REGISTERED NUMBER: 07379620)

BALANCE SHEET - continued
31 MARCH 2023


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 and authorised for issue on 18 September 2023 and were signed on its behalf by:




Mr S P Gooch - Director



Mr K C Hatch - Director


K&S AEROSPACE COMPONENTS LIMITED (REGISTERED NUMBER: 07379620)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

K&S Aerospace Components 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten 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 - 25% on cost
Motor vehicles - 20% on cost
Computer equipment - 25% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


K&S AEROSPACE COMPONENTS LIMITED (REGISTERED NUMBER: 07379620)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
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 11 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 60,000
AMORTISATION
At 1 April 2022
and 31 March 2023 60,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

K&S AEROSPACE COMPONENTS LIMITED (REGISTERED NUMBER: 07379620)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 336,889 108,067 10,448 455,404
Additions 14,428 - 8,815 23,243
At 31 March 2023 351,317 108,067 19,263 478,647
DEPRECIATION
At 1 April 2022 250,675 52,700 6,513 309,888
Charge for year 63,494 21,613 3,651 88,758
At 31 March 2023 314,169 74,313 10,164 398,646
NET BOOK VALUE
At 31 March 2023 37,148 33,754 9,099 80,001
At 31 March 2022 86,214 55,367 3,935 145,516

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 205,298 289,228
Other debtors 220,014 84,345
Tax 14,740 -
Prepayments 3,529 2,889
443,581 376,462

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 4,655 4,655
Trade creditors 53,616 119,526
Tax 37,383 52,973
Social security and other taxes 10,764 14,108
VAT 41,182 46,721
Directors' current accounts 22,632 2,636
Accrued expenses 2,189 7,525
172,421 248,144

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 8,922 13,577