IRIS Accounts Production v23.4.0.336 06639165 director 1.8.22 31.7.23 31.7.23 false true false false false true false A ordinary 1.00000 B ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh066391652022-07-31066391652023-07-31066391652022-08-012023-07-31066391652021-07-31066391652021-08-012022-07-31066391652022-07-3106639165ns15:EnglandWales2022-08-012023-07-3106639165ns14:PoundSterling2022-08-012023-07-3106639165ns10:Director12022-08-012023-07-3106639165ns10:PrivateLimitedCompanyLtd2022-08-012023-07-3106639165ns10:SmallEntities2022-08-012023-07-3106639165ns10:AuditExempt-NoAccountantsReport2022-08-012023-07-3106639165ns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-3106639165ns10:SmallCompaniesRegimeForAccounts2022-08-012023-07-3106639165ns10:FullAccounts2022-08-012023-07-310663916512022-08-012023-07-3106639165ns10:OrdinaryShareClass22022-08-012023-07-3106639165ns10:OrdinaryShareClass32022-08-012023-07-3106639165ns10:CompanySecretary12022-08-012023-07-3106639165ns10:RegisteredOffice2022-08-012023-07-3106639165ns5:CurrentFinancialInstruments2023-07-3106639165ns5:CurrentFinancialInstruments2022-07-3106639165ns5:Non-currentFinancialInstruments2023-07-3106639165ns5:Non-currentFinancialInstruments2022-07-3106639165ns5:ShareCapital2023-07-3106639165ns5:ShareCapital2022-07-3106639165ns5:RetainedEarningsAccumulatedLosses2023-07-3106639165ns5:RetainedEarningsAccumulatedLosses2022-07-3106639165ns5:LeaseholdImprovements2022-08-012023-07-3106639165ns5:PlantMachinery2022-08-012023-07-3106639165ns5:FurnitureFittings2022-08-012023-07-3106639165ns5:MotorVehicles2022-08-012023-07-3106639165ns5:NetGoodwill2022-07-3106639165ns5:NetGoodwill2023-07-3106639165ns5:NetGoodwill2022-07-3106639165ns5:PlantMachinery2022-07-3106639165ns5:PlantMachinery2023-07-3106639165ns5:PlantMachinery2022-07-3106639165ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-07-3106639165ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-07-3106639165ns10:OrdinaryShareClass22023-07-3106639165ns10:OrdinaryShareClass32023-07-31
REGISTERED NUMBER: 06639165 (England and Wales)















KH ENGINEERING (SWINDON) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2023






KH ENGINEERING (SWINDON) LIMITED (REGISTERED NUMBER: 06639165)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


KH ENGINEERING (SWINDON) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2023







DIRECTOR: Mr N S Hill



SECRETARY: Mrs R Hill



REGISTERED OFFICE: 43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



REGISTERED NUMBER: 06639165 (England and Wales)



ACCOUNTANTS: Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



BANKERS: Lloyds Bank Plc
5 High Street
SWINDON
Wiltshire
SN1 3EN

KH ENGINEERING (SWINDON) LIMITED (REGISTERED NUMBER: 06639165)

STATEMENT OF FINANCIAL POSITION
31ST JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 48,349 76,699
48,349 76,699

CURRENT ASSETS
Stocks 5,000 9,279
Debtors 6 208,088 209,864
Cash at bank 136,554 158,047
349,642 377,190
CREDITORS
Amounts falling due within one year 7 135,346 146,362
NET CURRENT ASSETS 214,296 230,828
TOTAL ASSETS LESS CURRENT
LIABILITIES

262,645

307,527

CREDITORS
Amounts falling due after more than
one year

8

(42,900

)

(60,634

)

PROVISIONS FOR LIABILITIES (9,384 ) (12,236 )
NET ASSETS 210,361 234,657

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 210,261 234,557
SHAREHOLDERS' FUNDS 210,361 234,657

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

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

KH ENGINEERING (SWINDON) LIMITED (REGISTERED NUMBER: 06639165)

STATEMENT OF FINANCIAL POSITION - continued
31ST JULY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27th March 2024 and were signed by:





Mr N S Hill - Director


KH ENGINEERING (SWINDON) LIMITED (REGISTERED NUMBER: 06639165)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023


1. STATUTORY INFORMATION

KH Engineering (Swindon) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06639165

Registered office: 43-45 Devizes Road, Swindon, Wiltshire, SN1 4BG

The presentation currency of the financial statements is the Pound Sterling (£) 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
In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.

- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.

- Determine an appropriate provision for obsolete and slow moving stocks by assessing the net realisable value of all stock lines on a line by line basis.

- Determine an appropriate provision for dilapidations by assessing the probable future obligations expected to exist at the end of the property lease.

Turnover
Turnover from sale of goods is recognised when the significant risks and reward of ownership of the goods have passed to the buyer, usually on dispatch of the goods. Turnover in respect of service contracts is recognised when the company obtains the right to consideration.

Turnover represents revenue earned under a wide variety of contracts to provide engineering services to third parties.

Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under those contracts.

It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including recoverable expenses and disbursements, but excluding Value Added Tax.

For incomplete contracts, an assessment is made of the extent to which revenue has been earned. This assessment takes into account the nature of the assignment, its stage of completion and the relevant contract terms.

Revenue in respect of contingent fee arrangements (over and above any minimum agreed fee) is recognised when the contingent event occurs and the recoverability of the fee is assured.

Unbilled revenue is included in debtors, under 'amounts recoverable on contracts'.

KH ENGINEERING (SWINDON) LIMITED (REGISTERED NUMBER: 06639165)

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


2. ACCOUNTING POLICIES - continued

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.
Improvements to property - 25% on cost
Plant and machinery - 25% on cost and 20% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% 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.

Financial instruments
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

KH ENGINEERING (SWINDON) LIMITED (REGISTERED NUMBER: 06639165)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st August 2022
and 31st July 2023 148,500
AMORTISATION
At 1st August 2022
and 31st July 2023 148,500
NET BOOK VALUE
At 31st July 2023 -
At 31st July 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st August 2022 354,262
Additions 254
Disposals (3,692 )
At 31st July 2023 350,824
DEPRECIATION
At 1st August 2022 277,563
Charge for year 28,369
Eliminated on disposal (3,457 )
At 31st July 2023 302,475
NET BOOK VALUE
At 31st July 2023 48,349
At 31st July 2022 76,699


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 169,170 153,667
Amounts recoverable on contract 6,000 23,223
Other debtors 32,918 32,974
208,088 209,864

KH ENGINEERING (SWINDON) LIMITED (REGISTERED NUMBER: 06639165)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 9) 7,735 18,124
Trade creditors 40,460 51,916
Taxation and social security 45,339 32,451
Other creditors 31,812 33,871
135,346 146,362

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 18,334 28,334
Hire purchase contracts (see note 9) 24,566 32,300
42,900 60,634

9. LEASING AGREEMENTS

The minimum lease payments on non-cancellable operating leases fall due as follows:

2023 2022
£ £
Within one year 20,680 15,233
Between one and five years 55,147 73,267
In more than 5 years 0 7,000
75,827 95,500

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 32,301 50,424

The invoice factoring account are secured against a debenture dated 11 September 2008 over the entire assets of the company.This was a debit balance as at 31/07/2023 and included within other debtors.

Obligations under hire purchase and finance lease contracts are secured on the assets concerned.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
52 A ordinary £1 52 52
48 B ordinary £1 48 48
100 100