16 false false false false false false false false false false true false false false false true false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 04694649 2022-04-01 2023-03-31 04694649 2023-03-31 04694649 2022-03-31 04694649 2021-04-01 2022-03-31 04694649 2022-03-31 04694649 2021-03-31 04694649 bus:Director1 2022-04-01 2023-03-31 04694649 core:LandBuildings 2022-03-31 04694649 core:PlantMachinery 2022-03-31 04694649 core:FurnitureFittings 2022-03-31 04694649 core:MotorVehicles 2022-03-31 04694649 core:LandBuildings 2023-03-31 04694649 core:PlantMachinery 2023-03-31 04694649 core:FurnitureFittings 2023-03-31 04694649 core:MotorVehicles 2023-03-31 04694649 core:LandBuildings 2022-04-01 2023-03-31 04694649 core:PlantMachinery 2022-04-01 2023-03-31 04694649 core:FurnitureFittings 2022-04-01 2023-03-31 04694649 core:MotorVehicles 2022-04-01 2023-03-31 04694649 core:WithinOneYear 2023-03-31 04694649 core:WithinOneYear 2022-03-31 04694649 core:AfterOneYear 2023-03-31 04694649 core:AfterOneYear 2022-03-31 04694649 core:ShareCapital 2023-03-31 04694649 core:ShareCapital 2022-03-31 04694649 core:RetainedEarningsAccumulatedLosses 2023-03-31 04694649 core:RetainedEarningsAccumulatedLosses 2022-03-31 04694649 core:LandBuildings 2022-03-31 04694649 core:PlantMachinery 2022-03-31 04694649 core:FurnitureFittings 2022-03-31 04694649 core:MotorVehicles 2022-03-31 04694649 bus:Director1 2022-03-31 04694649 bus:Director1 2023-03-31 04694649 bus:Director1 2021-03-31 04694649 bus:Director1 2022-03-31 04694649 bus:Director1 2021-04-01 2022-03-31 04694649 bus:SmallEntities 2022-04-01 2023-03-31 04694649 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04694649 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 04694649 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04694649 bus:FullAccounts 2022-04-01 2023-03-31 04694649 core:LandBuildings core:ShortLeaseholdAssets 2022-04-01 2023-03-31 04694649 core:KeyManagementIndividualGroup1 2022-04-01 2023-03-31 04694649 core:KeyManagementIndividualGroup1 2023-03-31 04694649 core:KeyManagementIndividualGroup1 2022-03-31 04694649 core:KeyManagementIndividualGroup1 core:DividendsPaidTransactions 2022-04-01 2023-03-31 04694649 core:KeyManagementIndividualGroup1 core:DividendsPaidTransactions 2021-04-01 2022-03-31
COMPANY REGISTRATION NUMBER: 04694649
Kiln Control Services Limited
Filleted Unaudited Financial Statements
31 March 2023
Kiln Control Services Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
6
90,541
104,849
Current assets
Stocks
35,021
25,090
Debtors
7
326,951
258,164
Cash at bank and in hand
192,517
2,383
---------
---------
554,489
285,637
Creditors: amounts falling due within one year
8
337,469
266,828
---------
---------
Net current assets
217,020
18,809
---------
---------
Total assets less current liabilities
307,561
123,658
Creditors: amounts falling due after more than one year
9
93,780
119,210
Provisions
3,294
4,120
---------
---------
Net assets
210,487
328
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
210,485
326
---------
----
Members' funds
210,487
328
---------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Director's responsibilities: - The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; - The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
Kiln Control Services Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 29 March 2024 , and are signed on behalf of the board by:
M Walton
Director
Company registration number: 04694649
Kiln Control Services Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. Statutory information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Virginia Lodge, Endon Road, Norton Green, Stoke on Trent, ST6 8NQ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
The financial statements have been prepared on the going concern basis as disclosed in note 11.
(c) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
(d) Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
(e) Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
(f) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(g) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold improvements
-
10% reducing balance
Plant and machinery
-
25% reducing balance
Fixtures, fittings and equipment
-
15% reducing balance
Motor vehicles
-
25% reducing balance
(h) Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
(i) Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
(j) Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
(k) Finance leases and hire purchase contracts
Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
(l) Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.
(m) Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
(n) Defined contribution pension schemes
Contributions to defined contribution pension schemes are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 16 (2022: 16 ).
5. Director's remuneration
The director's aggregate remuneration in respect of qualifying services was:
2023
2022
£
£
Remuneration
15,853
13,057
--------
--------
The number of directors who accrued benefits under company pension plans was as follows:
2023
2022
No.
No.
Defined contribution plans
1
1
----
----
6. Tangible assets
Leasehold improvements
Plant and machinery
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2022
53,098
36,513
31,390
164,600
285,601
Additions
7,992
516
8,508
Disposals
( 2,529)
( 3,231)
( 5,760)
--------
--------
--------
---------
---------
At 31 March 2023
53,098
41,976
28,675
164,600
288,349
--------
--------
--------
---------
---------
Depreciation
At 1 April 2022
26,024
27,998
15,934
110,796
180,752
Charge for the year
2,708
2,095
2,129
13,451
20,383
Disposals
( 1,577)
( 1,750)
( 3,327)
--------
--------
--------
---------
---------
At 31 March 2023
28,732
28,516
16,313
124,247
197,808
--------
--------
--------
---------
---------
Carrying amount
At 31 March 2023
24,366
13,460
12,362
40,353
90,541
--------
--------
--------
---------
---------
At 31 March 2022
27,074
8,515
15,456
53,804
104,849
--------
--------
--------
---------
---------
7. Debtors
2023
2022
£
£
Trade debtors
272,448
215,865
Other debtors
54,503
42,299
---------
---------
326,951
258,164
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdraft
20,002
65,696
Trade creditors
160,228
96,979
Corporation tax
31,217
22,376
Social security and other taxes
50,000
37,487
Other creditors
76,022
44,290
---------
---------
337,469
266,828
---------
---------
The bank loans and overdraft are secured by personal guarantees in the sum of £106,000.
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdraft
89,243
108,883
Other creditors
4,537
10,327
--------
---------
93,780
119,210
--------
---------
Included within creditors: amounts falling due after more than one year is an amount of £22,312 (2022: £40,827) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The bank loans are secured by personal guarantees in the sum of £106,000.
10. Pension commitments
At the year end, the company had a liability of £1,313 (2022: £1,300) in relation to one of its defined contribution pension schemes.
11. Going concern
The director has confirmed that the company will have adequate resources available in order to enable it to finance its trading and other obligations for the foreseeable future.
Based on the above, the financial statements have been prepared on the going concern basis.
12. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
M Walton
11,101
43,850
( 64,562)
( 9,611)
--------
--------
--------
-------
2022
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
M Walton
( 488)
46,589
( 35,000)
11,101
----
--------
--------
--------
13. Related party transactions
M Walton is a related party by virtue of his directorship of and shareholding in the company. Mrs S Walton is a related party by virtue of her shareholding in the company and her relationship with M Walton . During the year, M Walton operated a director's loan account with the company such that, at the year end, the company was owed the sum of £ 9,611 (2022: £ 11,101 ). This loan was interest free and repayable on demand. During the year, the company paid dividends to M Walton and Mrs S Walton in the sum of £ 64,562 (2022: £ 35,000 ). Supported personal guarantees totalling £106,000 subsisted at the year end, which were undertaken by M Walton and Mrs S Walton in favour of the company's bank as further security for the indebtedness of the company to the bank.