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REGISTERED NUMBER: 02332835 (England and Wales)
























James King (Plant) Limited

Financial Statements for the Year Ended 30th June 2023






James King (Plant) Limited (Registered number: 02332835)

Contents of the Financial Statements
for the Year Ended 30th June 2023










Page

Company information 1

Abridged balance sheet 2

Notes to the financial statements 4


James King (Plant) Limited

Company Information
for the Year Ended 30th June 2023







Directors: J S King
P J King
J E King





Registered office: James King Garage
Northampton Road
Blisworth
Northampton
NN7 3DW





Registered number: 02332835 (England and Wales)





Accountants: A.J. Lewis
Chartered Accountant
Lewis & Son Accountants Limited
37 Stoke Road
Blisworth
Northampton
NN7 3BZ

James King (Plant) Limited (Registered number: 02332835)

Abridged Balance Sheet
30th June 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 3 30,177 21,727

Current assets
Stocks 5,750 5,350
Debtors 510,243 679,682
Cash at bank 344,005 462,198
859,998 1,147,230
Creditors
Amounts falling due within one year 525,266 877,497
Net current assets 334,732 269,733
Total assets less current liabilities 364,909 291,460

Creditors
Amounts falling due after more than one
year

-

(22,500

)

Provisions for liabilities (4,982 ) (1,753 )
Net assets 359,927 267,207

Capital and reserves
Called up share capital 4 4
Retained earnings 359,923 267,203
359,927 267,207

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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.

James King (Plant) Limited (Registered number: 02332835)

Abridged Balance Sheet - continued
30th June 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance sheet for the year ended 30th June 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th January 2024 and were signed on its behalf by:





P J King - Director


James King (Plant) Limited (Registered number: 02332835)

Notes to the Financial Statements
for the Year Ended 30th June 2023


1. 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.

Revenue recognition
The company recognises revenue to the extent that it obtains the right to consideration in exchange for its performance under contract. The right to consideration arises when some, but not necessarily all, of the contractual obligations have been fulfilled.

Amounts to be invoiced to customers
Construction services provided to clients which at the balance sheet date have not been billed to customers, have been recognised as turnover. Turnover recognised in this manner is based on an assessment of the fair value of the work performed at the balance sheet date as a proportion of the total value of the contract. Provision is made against unbilled amounts on those contracts where the right to receive payment is contingent on factors outside the control of the company. Unbilled revenue is included in debtors.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance

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 Profit and loss account, 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.

James King (Plant) Limited (Registered number: 02332835)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2023


1. Accounting policies - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between the contributions payable and the contributions actually paid in the year are shown as either accruals or prepayments at the year end.

2. Employees and directors

The average number of employees during the year was 13 (2022 - 13 ) .

3. Tangible fixed assets
Totals
£   
Cost
At 1st July 2022 136,402
Additions 21,558
At 30th June 2023 157,960
Depreciation
At 1st July 2022 114,675
Charge for year 13,108
At 30th June 2023 127,783
Net book value
At 30th June 2023 30,177
At 30th June 2022 21,727

4. Related party disclosures

The company hires vehicles and plant from Faststar Limited, a company with common directors and shareholders for £363,500 (2022 - £1,073,500), not necessarily at normal market conditions.