Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.22022-05-01falseNo description of principal activity2falsetrue 07007824 2022-05-01 2023-03-31 07007824 2021-05-01 2022-04-30 07007824 2023-03-31 07007824 2022-04-30 07007824 c:Director1 2022-05-01 2023-03-31 07007824 c:Director2 2022-05-01 2023-03-31 07007824 c:RegisteredOffice 2022-05-01 2023-03-31 07007824 d:PlantMachinery 2022-05-01 2023-03-31 07007824 d:PlantMachinery 2023-03-31 07007824 d:PlantMachinery 2022-04-30 07007824 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-05-01 2023-03-31 07007824 d:MotorVehicles 2022-05-01 2023-03-31 07007824 d:MotorVehicles 2023-03-31 07007824 d:MotorVehicles 2022-04-30 07007824 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-05-01 2023-03-31 07007824 d:OwnedOrFreeholdAssets 2022-05-01 2023-03-31 07007824 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 07007824 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-04-30 07007824 d:CurrentFinancialInstruments 2023-03-31 07007824 d:CurrentFinancialInstruments 2022-04-30 07007824 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07007824 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 07007824 d:ShareCapital 2023-03-31 07007824 d:ShareCapital 2022-04-30 07007824 d:RetainedEarningsAccumulatedLosses 2023-03-31 07007824 d:RetainedEarningsAccumulatedLosses 2022-04-30 07007824 c:FRS102 2022-05-01 2023-03-31 07007824 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-03-31 07007824 c:FullAccounts 2022-05-01 2023-03-31 07007824 c:PrivateLimitedCompanyLtd 2022-05-01 2023-03-31 07007824 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2022-05-01 2023-03-31 07007824 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2022-05-01 2023-03-31 iso4217:GBP xbrli:pure
Company registration number: 07007824







UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 MARCH 2023


KIRK PROCESS SOLUTIONS LIMITED






































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KIRK PROCESS SOLUTIONS LIMITED
 


 
COMPANY INFORMATION


Directors
M Kirk 
L Kirk 




Registered number
07007824



Registered office
Kirk House
161 Park Close

Walton On Thames

KT12 1EW




Accountants
Menzies LLP
Chartered Accountants

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


KIRK PROCESS SOLUTIONS LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 8


 


KIRK PROCESS SOLUTIONS LIMITED
REGISTERED NUMBER:07007824



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

31 March
30 April
2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
36,390
36,573

Tangible assets
 5 
15,431
25,352

  
51,821
61,925

Current assets
  

Stocks
  
34,532
72,708

Debtors: amounts falling due within one year
 6 
72,699
125,342

Cash at bank and in hand
  
519,050
390,113

  
626,281
588,163

Creditors: amounts falling due within one year
 7 
(41,076)
(63,236)

Net current assets
  
 
 
585,205
 
 
524,927

Total assets less current liabilities
  
637,026
586,852

  

Net assets
  
637,026
586,852


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Profit and loss account
  
627,026
576,852

  
637,026
586,852


Page 1

 


KIRK PROCESS SOLUTIONS LIMITED
REGISTERED NUMBER:07007824


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


M Kirk
Director
Date: 15 November 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


KIRK PROCESS SOLUTIONS LIMITED
 


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

1.


General information

Kirk Process Solutions Limited is a private company limited by shares and incorporated in England and Wales.  The address of the registered office and principal place of business is given in the company information page of these financial statements. 
The current year is not comparable as it is a period of 11 months from 01 May 2022.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

  
2.2

Foreign currency translation

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

Turnover

Turnover, gained through the manufacturing of fabricated metal product, is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

Page 3

 


KIRK PROCESS SOLUTIONS LIMITED
 


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

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Expenditure on research and development is capitalised and thereafter written off over the period of contribution derived from the intangible asset. 
Research & Development is amortised on a straight line basis of 15% per annum.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Straight-line
Motor vehicles
-
18%
Straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 


KIRK PROCESS SOLUTIONS LIMITED
 


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

2.Accounting policies (continued)

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 2 (2022 - 2).

Page 5

 


KIRK PROCESS SOLUTIONS LIMITED
 


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

4.


Intangible assets






Development expenditure

£



Cost


At 1 May 2022
71,424


Additions
12,400



At 31 March 2023

83,824



Amortisation


At 1 May 2022
34,851


Charge for the period on owned assets
12,583



At 31 March 2023

47,434



Net book value



At 31 March 2023
36,390



At 30 April 2022
36,573



Page 6

 


KIRK PROCESS SOLUTIONS LIMITED
 


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

5.


Tangible fixed assets







Plant and machinery
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 May 2022
4,882
144,245
149,127



At 31 March 2023

4,882
144,245
149,127



Depreciation


At 1 May 2022
4,882
118,893
123,775


Charge for the period on owned assets
-
9,921
9,921



At 31 March 2023

4,882
128,814
133,696



Net book value



At 31 March 2023
-
15,431
15,431



At 30 April 2022
-
25,352
25,352


6.


Debtors

31 March
30 April
2023
2022
£
£


Trade debtors
64,384
107,589

Prepayments and accrued income
1,688
15,513

Other debtors
6,627
2,240

72,699
125,342


Page 7

 


KIRK PROCESS SOLUTIONS LIMITED
 


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

7.


Creditors: Amounts falling due within one year

31 March
30 April
2023
2022
£
£

Trade creditors
17,811
34,145

Corporation tax
16,572
24,216

Other taxation and social security
776
414

Other creditors
2,667
1,211

Accruals and deferred income
3,250
3,250

41,076
63,236


 
Page 8