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REGISTERED NUMBER: 09495237 (England and Wales)















KINGHORN& SON LTD

Unaudited Financial Statements For The Year Ended 31 March 2023






KINGHORN& SON LTD (REGISTERED NUMBER: 09495237)






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

Report of the Accountants 7

KINGHORN& SON LTD

Company Information
For The Year Ended 31 March 2023







DIRECTOR: A Kinghorn





SECRETARY: Mrs W Kinghorn





REGISTERED OFFICE: 28 Albany Gardens
Whitley Bay
Tyne and Wear
NE26 2DY





REGISTERED NUMBER: 09495237 (England and Wales)





ACCOUNTANTS: Ron Joyce Ltd
Chartered Certified Accountant
18 Norham Road
Whitley Bay
Tyne and Wear
NE26 2SD

KINGHORN& SON LTD (REGISTERED NUMBER: 09495237)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,201 4,947

CURRENT ASSETS
Debtors 5 21,021 36,146
Cash at bank and in hand 1,346 9,149
22,367 45,295
CREDITORS
Amounts falling due within one year 6 12,719 22,016
NET CURRENT ASSETS 9,648 23,279
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,849

28,226

CREDITORS
Amounts falling due after more than one
year

7

(6,751

)

(9,526

)

PROVISIONS FOR LIABILITIES 11 (648 ) (757 )
NET ASSETS 6,450 17,943

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 6,447 17,940
6,450 17,943

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.

KINGHORN& SON LTD (REGISTERED NUMBER: 09495237)

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 director and authorised for issue on 27 May 2023 and were signed by:





A Kinghorn - Director


KINGHORN& SON LTD (REGISTERED NUMBER: 09495237)

Notes to the Financial Statements
For The Year Ended 31 March 2023

1. STATUTORY INFORMATION

KINGHORN& SON LTD 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.

Significant judgements
There were no judgements made that were significant enough to warrant disclosure.

Turnover
Turnover is stated net of value added tax and represents the total receivable by the company. The revenue is recognised on the raising of a sales invoice on completion of work.

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 reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% 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.

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.

Significant estimates
There were no estimates made that were significant enough to warrant disclosure.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

KINGHORN& SON LTD (REGISTERED NUMBER: 09495237)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 1,408 13,798 356 15,562
Additions 577 - 59 636
At 31 March 2023 1,985 13,798 415 16,198
DEPRECIATION
At 1 April 2022 1,023 9,432 160 10,615
Charge for year 241 1,092 49 1,382
At 31 March 2023 1,264 10,524 209 11,997
NET BOOK VALUE
At 31 March 2023 721 3,274 206 4,201
At 31 March 2022 385 4,366 196 4,947

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 3,209
Other debtors 21,021 32,937
21,021 36,146

Included in Other debtors are CIS outstanding repayment £19,255 (£31,229 2022) retentions £1,000 (£1,000 - 2022) and prepayments £166 (£37 - 2022).
£7,094 of aged CIS debtors were written off via Turnover during the year since they are thought to be irrecoverable from HMRC.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 2,775 2,707
Trade creditors 574 274
Taxation and social security 4,621 12,470
Other creditors 4,749 6,565
12,719 22,016

Included in other creditors are amounts owed to the Directors, this year they were owed £40 (£265 - 2022).

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 8) 6,751 9,526

KINGHORN& SON LTD (REGISTERED NUMBER: 09495237)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 2,775 2,707

Amounts falling due between one and two years:
Bank loans - 1-2 years 2,845 2,775

Amounts falling due between two and five years:
Bank loans - 2-5 years 3,906 6,751

The company received a Coronavirus Bounce Back Loan. This is required to be disclosed in the accounts as amounts owing in less than one year, between 1 and 2 years, between 2 and five years and over five years, all as set out above.

9. SECURED DEBTS

A bank loan and bank overdraft facility made available to the company are secured by way of a Director's personal guarantee.

10. FINANCIAL INSTRUMENTS

Debtors are shown at their impaired value (i.e. less doubtful debts).
Loans made to the company are valued at the carrying amount which is determined deducting capital repayments and by adding interest calculated using the effective interest method on an actuarial basis.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 648 757

Deferred
tax
£   
Balance at 1 April 2022 757
Provided during year (109 )
Balance at 31 March 2023 648

KINGHORN& SON LTD

Report of the Accountants to the Director of
KINGHORN& SON LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2023 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Ron Joyce Ltd
Chartered Certified Accountant
18 Norham Road
Whitley Bay
Tyne and Wear
NE26 2SD


28 May 2023