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REGISTERED NUMBER: 11185461 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

T K POWDER COATING LIMITED

T K POWDER COATING LIMITED (REGISTERED NUMBER: 11185461)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


T K POWDER COATING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: T J Kenna



REGISTERED OFFICE: Unit 4B, Innovation Square
Green Lane Industrial Park
Featherstone
Wakefield
WF7 6NX



REGISTERED NUMBER: 11185461 (England and Wales)



ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB



BANKERS: HSBC
Queen Street
Morley
Leeds
West Yorkshire
LS27 8DY

T K POWDER COATING LIMITED (REGISTERED NUMBER: 11185461)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 106,454 122,225

CURRENT ASSETS
Stocks 50,000 50,000
Debtors 5 55,773 46,522
Cash at bank 834 15,274
106,607 111,796
CREDITORS
Amounts falling due within one year 6 155,675 159,581
NET CURRENT LIABILITIES (49,068 ) (47,785 )
TOTAL ASSETS LESS CURRENT LIABILITIES 57,386 74,440

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 57,384 74,438
SHAREHOLDERS' FUNDS 57,386 74,440

T K POWDER COATING LIMITED (REGISTERED NUMBER: 11185461)

BALANCE SHEET - continued
31 DECEMBER 2023


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

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

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 5 March 2024 and were signed by:





T J Kenna - Director


T K POWDER COATING LIMITED (REGISTERED NUMBER: 11185461)

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

1. STATUTORY INFORMATION

T K Powder Coating 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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 and estimates
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Turnover from the sale of services is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on completion of the service.

T K POWDER COATING LIMITED (REGISTERED NUMBER: 11185461)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Motor vehicles- 25% reducing balance
Plant and machinery- 10% reducing balance
Computer equipment- 25% reducing balance
Leasehold improvements- 7 years straight line

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

T K POWDER COATING LIMITED (REGISTERED NUMBER: 11185461)

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

2. ACCOUNTING POLICIES - continued

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 5 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 10,042 110,015 39,186 9,643 168,886
Additions 2,964 - - - 2,964
At 31 December 2023 13,006 110,015 39,186 9,643 171,850
DEPRECIATION
At 1 January 2023 4,988 28,658 10,030 2,985 46,661
Charge for year 1,646 8,136 7,289 1,664 18,735
At 31 December 2023 6,634 36,794 17,319 4,649 65,396
NET BOOK VALUE
At 31 December 2023 6,372 73,221 21,867 4,994 106,454
At 31 December 2022 5,054 81,357 29,156 6,658 122,225

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 45,249 13,975
Other debtors 7,999 30,150
Prepayments and accrued income 2,525 2,397
55,773 46,522

T K POWDER COATING LIMITED (REGISTERED NUMBER: 11185461)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Corporation tax 10,395 6,057
Social security and other taxes 506 497
VAT 13,612 7,486
Other creditors 139 176
Directors' current accounts 123,390 142,208
Accruals and deferred income 7,633 3,157
155,675 159,581

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 8,166 24,500
Between one and five years - 8,166
8,166 32,666

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1 A Ordinary £1 1 1
1 B Ordinary £1 1 1
2 2