Kleenoil Filtration Limited 02040801 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is the selling and installation of oil filtration systems Digita Accounts Production Advanced 6.30.9574.0 true true 02040801 2022-11-01 2023-10-31 02040801 2023-10-31 02040801 bus:OrdinaryShareClass1 2023-10-31 02040801 core:RetainedEarningsAccumulatedLosses 2023-10-31 02040801 core:ShareCapital 2023-10-31 02040801 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-10-31 02040801 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-10-31 02040801 core:CurrentFinancialInstruments 2023-10-31 02040801 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 02040801 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 02040801 core:FurnitureFittingsToolsEquipment 2023-10-31 02040801 core:LandBuildings 2023-10-31 02040801 core:MotorVehicles 2023-10-31 02040801 bus:SmallEntities 2022-11-01 2023-10-31 02040801 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 02040801 bus:FilletedAccounts 2022-11-01 2023-10-31 02040801 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 02040801 bus:RegisteredOffice 2022-11-01 2023-10-31 02040801 bus:Director1 2022-11-01 2023-10-31 02040801 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 02040801 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 02040801 core:FurnitureFittingsToolsEquipment 2022-11-01 2023-10-31 02040801 core:LandBuildings 2022-11-01 2023-10-31 02040801 core:LeaseholdImprovements 2022-11-01 2023-10-31 02040801 core:MotorVehicles 2022-11-01 2023-10-31 02040801 core:OfficeEquipment 2022-11-01 2023-10-31 02040801 core:PlantMachinery 2022-11-01 2023-10-31 02040801 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-11-01 2023-10-31 02040801 countries:England 2022-11-01 2023-10-31 02040801 2022-10-31 02040801 core:FurnitureFittingsToolsEquipment 2022-10-31 02040801 core:LandBuildings 2022-10-31 02040801 core:MotorVehicles 2022-10-31 02040801 2021-11-01 2022-10-31 02040801 2022-10-31 02040801 bus:OrdinaryShareClass1 2022-10-31 02040801 core:RetainedEarningsAccumulatedLosses 2022-10-31 02040801 core:ShareCapital 2022-10-31 02040801 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-10-31 02040801 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-10-31 02040801 core:CurrentFinancialInstruments 2022-10-31 02040801 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 02040801 core:Non-currentFinancialInstruments core:AfterOneYear 2022-10-31 02040801 core:Non-currentFinancialInstruments core:AfterOneYear bus:Original 2022-10-31 02040801 core:FurnitureFittingsToolsEquipment 2022-10-31 02040801 core:LandBuildings 2022-10-31 02040801 core:MotorVehicles 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02040801

Kleenoil Filtration Limited

Information for Filing with The Registrar

31 October 2023

 

Kleenoil Filtration Limited

Contents

Balance Sheet

1 to 2

Notes to the Accounts

3 to 7

 

Kleenoil Filtration Limited

(Registration number: 02040801)

Balance Sheet

31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

94,751

67,875

Current assets

 

Stocks

5

329,497

301,484

Debtors

6

345,580

278,868

Cash at bank and in hand

 

95,654

129,351

 

770,731

709,703

Creditors: Amounts falling due within one year

7

(58,331)

(54,535)

Net current assets

 

712,400

655,168

Total assets less current liabilities

 

807,151

723,043

Creditors: Amounts falling due after more than one year

7

(6,937)

-

Provisions for liabilities

(16,300)

(8,100)

Net assets

 

783,914

714,943

Capital and reserves

 

Called up share capital

8

20,000

20,000

Retained earnings

763,914

694,943

Shareholders' funds

 

783,914

714,943

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Kleenoil Filtration Limited

(Registration number: 02040801)

Balance Sheet

31 October 2023

Approved and authorised by the Board on 13 March 2024 and signed on its behalf by:




B.M. Cornett

Director

 

Kleenoil Filtration Limited

Notes to the Accounts

Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit A
The Maltings
Fenton Lane
Sherburn in Elmet
LS25 6EZ

These financial statements were authorised for issue by the Board on 13 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises corporation and deferred tax.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation.

 

Kleenoil Filtration Limited

Notes to the Accounts

Year Ended 31 October 2023

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold property

10 years straight line basis

Plant and machinery

5 years straight line basis

Motor vehicles

4 years straight line basis

Equipment

3 years straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank & in hand.

Trade debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Borrowings

Interest-bearing borrowings are initially at fair value, net of transaction costs.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the value of the cash received.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company during the year, was 6 (2022 - 6).

 

Kleenoil Filtration Limited

Notes to the Accounts

Year Ended 31 October 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor
vehicles
 £

Total
£

Cost or valuation

At 1 November 2022

43,080

161,155

52,967

257,202

Additions

-

-

64,245

64,245

Disposals

-

-

(52,967)

(52,967)

At 31 October 2023

43,080

161,155

64,245

268,480

Depreciation

At 1 November 2022

9,577

147,187

32,563

189,327

Charge for the year

3,780

4,862

8,324

16,966

Eliminated on disposal

-

-

(32,564)

(32,564)

At 31 October 2023

13,357

152,049

8,323

173,729

Carrying amount

At 31 October 2023

29,723

9,106

55,922

94,751

At 31 October 2022

33,503

13,968

20,404

67,875

Included within the net book value of land and buildings above is £29,723 (2022 - £33,503) in respect of long leasehold land and buildings.
 

5

Stocks

2023
£

2022
£

Raw materials and finished goods

329,497

301,484

 

Kleenoil Filtration Limited

Notes to the Accounts

Year Ended 31 October 2023

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

311,554

251,164

Amounts owed by related parties

10

13,663

8,349

Prepayments

 

4,936

2,512

Other debtors

 

15,427

16,843

   

345,580

278,868

7

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

16,649

-

Trade creditors

 

1,969

4,674

Amounts due to related parties

10

231

3,033

Taxation and social security

 

22,110

39,571

Other creditors

 

17,372

7,257

 

58,331

54,535

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

6,937

-

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

20,000

20,000

20,000

20,000

         
 

Kleenoil Filtration Limited

Notes to the Accounts

Year Ended 31 October 2023

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Hire purchase contracts

6,937

-

Current loans and borrowings

2023
£

2022
£

Hire purchase contracts

16,649

-

10

Related party transactions

Summary of transactions with entities with joint control or significant interest

By-Pass Filtration Limited
B.M. Cornett is the sole director and shareholder of By-Pass Filtration Limited.

 
Kleenoil Filtration Limited charged £43,438 for goods on normal commercial terms.

 
At the balance sheet date the amount due from By-Pass Filtration Limited was £13,663 (2022 - £8,349).