IRIS Accounts Production v23.3.0.418 04728955 Board of Directors 1.7.22 30.6.23 30.6.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh047289552022-06-30047289552023-06-30047289552022-07-012023-06-30047289552021-06-30047289552021-07-012022-06-30047289552022-06-3004728955ns10:Originalns15:EnglandWales2022-07-012023-06-3004728955ns14:PoundSterlingns10:Original2022-07-012023-06-3004728955ns10:Originalns10:Director12022-07-012023-06-3004728955ns10:Original2022-07-012023-06-3004728955ns10:Original2023-06-3004728955ns10:Originalns10:PrivateLimitedCompanyLtd2022-07-012023-06-3004728955ns10:Originalns10:SmallEntities2022-07-012023-06-3004728955ns10:Originalns10:AuditExempt-NoAccountantsReport2022-07-012023-06-3004728955ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3004728955ns10:SmallCompaniesRegimeForAccountsns10:Original2022-07-012023-06-3004728955ns10:Originalns10:FullAccounts2022-07-012023-06-3004728955ns10:Originalns10:Director22022-07-012023-06-3004728955ns10:Originalns10:RegisteredOffice2022-07-012023-06-3004728955ns10:Original2022-06-3004728955ns10:Originalns5:CurrentFinancialInstruments2023-06-3004728955ns10:Originalns5:CurrentFinancialInstruments2022-06-3004728955ns10:Originalns5:Non-currentFinancialInstruments2023-06-3004728955ns10:Originalns5:Non-currentFinancialInstruments2022-06-3004728955ns5:ShareCapitalns10:Original2023-06-3004728955ns5:ShareCapitalns10:Original2022-06-3004728955ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-3004728955ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-3004728955ns10:Originalns5:LandBuildings2022-07-012023-06-3004728955ns10:Originalns5:PlantMachinery2022-07-012023-06-3004728955ns10:Original2021-07-012022-06-3004728955ns10:Originalns5:LandBuildings2022-06-3004728955ns10:Originalns5:PlantMachinery2022-06-3004728955ns10:Original2022-06-3004728955ns10:Originalns5:LandBuildings2023-06-3004728955ns10:Originalns5:PlantMachinery2023-06-3004728955ns10:Originalns5:LandBuildings2022-06-3004728955ns10:Originalns5:PlantMachinery2022-06-3004728955ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-06-3004728955ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-07-012023-06-3004728955ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-06-3004728955ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-06-3004728955ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3004728955ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-30
REGISTERED NUMBER: 04728955 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 June 2023

for

K2 Aluminium Systems Limited

K2 Aluminium Systems Limited (Registered number: 04728955)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


K2 Aluminium Systems Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: G Butler
P M Tannock





REGISTERED OFFICE: 2 Sovereign Way
Maritime Business Park
Birkenhead
Wirral
CH41 1DL





REGISTERED NUMBER: 04728955 (England and Wales)





ACCOUNTANTS: Graham & Fisher Limited
T/A Grahams
Chartered Accountants
30 Birkenhead Road
Hoylake
Wirral
CH47 3BW

K2 Aluminium Systems Limited (Registered number: 04728955)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 400,945 369,123

CURRENT ASSETS
Stocks 378,212 309,749
Debtors 5 156,607 185,015
Cash at bank 336,074 361,788
870,893 856,552
CREDITORS
Amounts falling due within one year 6 664,712 697,909
NET CURRENT ASSETS 206,181 158,643
TOTAL ASSETS LESS CURRENT
LIABILITIES

607,126

527,766

CREDITORS
Amounts falling due after more than one
year

7

(108,542

)

(114,965

)

PROVISIONS FOR LIABILITIES (23,210 ) (14,435 )
NET ASSETS 475,374 398,366

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 475,274 398,266
SHAREHOLDERS' FUNDS 475,374 398,366

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

K2 Aluminium Systems Limited (Registered number: 04728955)

Balance Sheet - continued
30 June 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 10 November 2023 and were signed on its behalf by:





G Butler - Director


K2 Aluminium Systems Limited (Registered number: 04728955)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

K2 Aluminium Systems 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost, 25% on reducing balance, 20% on reducing balance and 10% 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.

Financial instruments
Creditors due after one year is a mortgage secured on the property and a hire purchase loan for plant & machinery. Interest is charged to the profit & loss account as it is incurred.

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.

K2 Aluminium Systems Limited (Registered number: 04728955)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2022 - 30 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2022 302,251 509,471 811,722
Additions - 95,664 95,664
At 30 June 2023 302,251 605,135 907,386
DEPRECIATION
At 1 July 2022 66,495 376,104 442,599
Charge for year 6,045 57,797 63,842
At 30 June 2023 72,540 433,901 506,441
NET BOOK VALUE
At 30 June 2023 229,711 171,234 400,945
At 30 June 2022 235,756 133,367 369,123

The Freehold Property has been depreciated at a rate of 1% on a straight line basis. Valuers have confirmed that due to the nature of the property it is impossible to value the land separately from the buildings. As such, the directors feel that this rate is prudent when they are taken together as a whole.

K2 Aluminium Systems Limited (Registered number: 04728955)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2022 15,710
Additions 26,295
Transfer to ownership (15,710 )
At 30 June 2023 26,295
DEPRECIATION
At 1 July 2022 10,742
Charge for year 6,574
Transfer to ownership (10,742 )
At 30 June 2023 6,574
NET BOOK VALUE
At 30 June 2023 19,721
At 30 June 2022 4,968

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 42,326 58,599
Other debtors 114,281 126,416
156,607 185,015

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 30,000 30,000
Hire purchase contracts 18,896 10,561
Trade creditors 471,639 527,784
Taxation and social security 83,038 51,314
Other creditors 61,139 78,250
664,712 697,909

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans 62,500 92,500
Hire purchase contracts 46,042 22,465
108,542 114,965

K2 Aluminium Systems Limited (Registered number: 04728955)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.6.23 30.6.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Hire purchase 12,496 -

8. CAPITAL COMMITMENTS
30.6.23 30.6.22
£    £   
Contracted but not provided for in the
financial statements 2,624 2,881

9. RELATED PARTY DISCLOSURES

Mr G Butler & Mr P Tannock are also directors and shareholders in K2 Trade Windows & Doors Ltd and during the year K2 Aluminium Systems Ltd purchased goods from this company totalling £Nil (2022 - £Nil) and sold goods to this company totalling £Nil (2022 - £Nil). The amount due to this company is £48,071 and is included in other creditors.