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REGISTERED NUMBER: 08065144 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

KINGSPIT TRANSPORT LIMITED

KINGSPIT TRANSPORT LIMITED (REGISTERED NUMBER: 08065144)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KINGSPIT TRANSPORT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Mr M A Whitcomb
Mrs J C Whitcomb





SECRETARY: Mrs J C Whitcomb





REGISTERED OFFICE: 1-2 Harbour House
Harbour Way
Shoreham-by-Sea
West Sussex
BN43 5HZ





REGISTERED NUMBER: 08065144 (England and Wales)





ACCOUNTANTS: Peter Jarman LLP
trading as
Peter Jarman & Company
1 Harbour House
Harbour Way
Shoreham by Sea
West Sussex
BN43 5HZ

KINGSPIT TRANSPORT LIMITED (REGISTERED NUMBER: 08065144)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 715,713 466,222

CURRENT ASSETS
Debtors 5 154,491 167,517
Cash at bank 229,534 364,747
384,025 532,264
CREDITORS
Amounts falling due within one year 6 (331,648 ) (373,467 )
NET CURRENT ASSETS 52,377 158,797
TOTAL ASSETS LESS CURRENT
LIABILITIES

768,090

625,019

CREDITORS
Amounts falling due after more than one
year

7

(44,874

)

-

PROVISIONS FOR LIABILITIES 8 (135,985 ) (88,581 )
NET ASSETS 587,231 536,438

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 587,229 536,436
SHAREHOLDERS' FUNDS 587,231 536,438

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

KINGSPIT TRANSPORT LIMITED (REGISTERED NUMBER: 08065144)

BALANCE SHEET - continued
31 MAY 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:





Mr M A Whitcomb - Director


KINGSPIT TRANSPORT LIMITED (REGISTERED NUMBER: 08065144)

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

1. STATUTORY INFORMATION

Kingspit Transport 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.
Plant and machinery etc - 25% on cost and 10% on reducing balance

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
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.

KINGSPIT TRANSPORT LIMITED (REGISTERED NUMBER: 08065144)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 817,837
Additions 340,950
Disposals (57,000 )
At 31 May 2023 1,101,787
DEPRECIATION
At 1 June 2022 351,615
Charge for year 69,131
Eliminated on disposal (34,672 )
At 31 May 2023 386,074
NET BOOK VALUE
At 31 May 2023 715,713
At 31 May 2022 466,222

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 107,674 153,945
Other debtors 46,817 13,572
154,491 167,517

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 19,962 -
Trade creditors 43,595 81,811
Taxation and social security 23,920 83,971
Other creditors 244,171 207,685
331,648 373,467

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 44,874 -

KINGSPIT TRANSPORT LIMITED (REGISTERED NUMBER: 08065144)

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

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 135,985 88,581

Deferred
tax
£   
Balance at 1 June 2022 88,581
Capital allowance in advance 47,404
of depreciation
Balance at 31 May 2023 135,985