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REGISTERED NUMBER: 12615304 (England and Wales)




Unaudited Financial Statements

for the Year Ended 31 May 2023

for

KT HIRE LIMITED

KT HIRE LIMITED (REGISTERED NUMBER: 12615304)






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


KT HIRE LIMITED

Company Information
for the Year Ended 31 May 2023







DIRECTORS: R J Harper
S J Seaby
Mrs J M Harper





REGISTERED OFFICE: Victoria House
50 Alexandra Street
Southend-on-Sea
Essex
SS1 1BN





REGISTERED NUMBER: 12615304 (England and Wales)





ACCOUNTANTS: Barnard Mountstephens Childs Limited
Chartered Certified Accountants
Victoria House
50 Alexandra Street
Southend-on-Sea
Essex
SS1 1BN

KT HIRE LIMITED (REGISTERED NUMBER: 12615304)

Balance Sheet
31 May 2023

31/5/23 31/5/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 153,864 139,398

CURRENT ASSETS
Stocks 3,000 3,000
Debtors 5 2,144 19,060
Cash at bank and in hand 24,769 18,382
29,913 40,442
CREDITORS
Amounts falling due within one year 6 87,353 68,693
NET CURRENT LIABILITIES (57,440 ) (28,251 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

96,424

111,147

CREDITORS
Amounts falling due after more than one
year

7

(21,397

)

(38,145

)

PROVISIONS FOR LIABILITIES (38,000 ) (26,400 )
NET ASSETS 37,027 46,602

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 36,927 46,502
SHAREHOLDERS' FUNDS 37,027 46,602

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.

KT HIRE LIMITED (REGISTERED NUMBER: 12615304)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 February 2024 and were signed on its behalf by:





R J Harper - Director


KT HIRE LIMITED (REGISTERED NUMBER: 12615304)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

KT Hire 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.
Plant & equipment - 20% on cost
Computer equipment - 20% on cost

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

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.

KT HIRE LIMITED (REGISTERED NUMBER: 12615304)

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 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant & Computer
equipment equipment Totals
£    £    £   
COST
At 1 June 2022 204,288 330 204,618
Additions 67,647 1,590 69,237
At 31 May 2023 271,935 1,920 273,855
DEPRECIATION
At 1 June 2022 65,088 132 65,220
Charge for year 54,387 384 54,771
At 31 May 2023 119,475 516 119,991
NET BOOK VALUE
At 31 May 2023 152,460 1,404 153,864
At 31 May 2022 139,200 198 139,398

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant &
equipment
£   
COST
At 1 June 2022 159,656
Additions 21,299
At 31 May 2023 180,955
DEPRECIATION
At 1 June 2022 51,605
Charge for year 36,191
At 31 May 2023 87,796
NET BOOK VALUE
At 31 May 2023 93,159
At 31 May 2022 108,051

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Trade debtors 443 17,359
Prepayments 1,701 1,701
2,144 19,060

KT HIRE LIMITED (REGISTERED NUMBER: 12615304)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Hire purchase contracts 37,529 41,498
Trade creditors 22,503 4,930
Corporation tax 1,222 -
Social security and other taxes 2,975 507
VAT 3,832 6,483
Other creditors 17,380 14,025
Directors' current accounts 162 -
Accrued expenses 1,750 1,250
87,353 68,693

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/5/23 31/5/22
£    £   
Hire purchase contracts 21,397 38,145

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/5/23 31/5/22
value: £    £   
100 Ordinary £1 100 100