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REGISTERED NUMBER: 01536303 (England and Wales)


























FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

KEN WHITE DISTRIBUTION LIMITED

KEN WHITE DISTRIBUTION LIMITED (REGISTERED NUMBER: 01536303)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KEN WHITE DISTRIBUTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: Mr K White
Mr I M Reeve



SECRETARY: Mr K White



REGISTERED OFFICE: Kingsgate House
Newbury Road
Andover
Hampshire
SP10 4DU



BUSINESS ADDRESS: Euro House
Joule Road
West Portway Industrial Estate
Andover
Hampshire
SP10 3UX



REGISTERED NUMBER: 01536303 (England and Wales)



SENIOR STATUTORY AUDITOR: Neil Raynsford



AUDITORS: Langdowns DFK Limited
Statutory Auditor
Kingsgate House,
North Wing, Ground Floor
Newbury Road
Andover
Hampshire
SP10 4DU

KEN WHITE DISTRIBUTION LIMITED (REGISTERED NUMBER: 01536303)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,119,734 1,302,867
Investments 6 4,975 4,975
1,124,709 1,307,842

CURRENT ASSETS
Stocks 53,456 85,965
Debtors 7 567,672 637,211
Cash at bank and in hand 1,704,590 1,468,551
2,325,718 2,191,727
CREDITORS
Amounts falling due within one year 8 1,709,966 1,635,135
NET CURRENT ASSETS 615,752 556,592
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,740,461

1,864,434

CREDITORS
Amounts falling due after more than one
year

9

(55,635

)

(174,623

)

PROVISIONS FOR LIABILITIES (279,934 ) (325,717 )
NET ASSETS 1,404,892 1,364,094

CAPITAL AND RESERVES
Called up share capital 11 2,000 2,000
Retained earnings 1,402,892 1,362,094
SHAREHOLDERS' FUNDS 1,404,892 1,364,094

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 Board of Directors and authorised for issue on 30th July 2024 and were signed on its behalf by:




Mr K White - Director



Mr I M Reeve - Director


KEN WHITE DISTRIBUTION LIMITED (REGISTERED NUMBER: 01536303)

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


1. STATUTORY INFORMATION

Ken White Distribution 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 presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis as the directors believe that no material uncertainties exist and the company is in a stable position. The company holds strong levels of cash and reserves and maintains strong leadership. The directors have considered the level of reserves held and the expected level of income and expenditure for a period of twelve months from authorising these financial statements.

Significant judgements and estimates
The preparation of the financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following accounting policies have been applied.

Turnover
Turnover represents the provision of transport and distribution services and warehouse management and the sale of white and brown goods damaged during the distribution process, excluding value added tax.

Turnover is recognised when the company obtains the right to consideration which, in the case of transport and distribution is when the end customer receives the goods and in the case of the sale of goods is when the significant risks and rewards of ownership of the goods have transferred to the buyer. This is usually on despatch of the goods.

Tangible fixed assets
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and any impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost of each asset, less its estimated residual value, over its estimated useful life.


Equipment - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 10%, 15% and 20% on cost
Computer equipment - 33% on cost

Residual values and useful lives are reviewed, and adjusted if necessary, at each balance sheet date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the profit and loss account.

Stocks
Stocks are valued at the lower of cost and net realisable value. Stock comprises fuel and motor vehicle spares which are all for the company's own use as well as stock of white and brown goods damaged during the distribution process which is for resale.


KEN WHITE DISTRIBUTION LIMITED (REGISTERED NUMBER: 01536303)

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


3. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Investments
Investments in shares are stated at original cost less provision for impairment.

Grants
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Grants relating to operating expenses are recognised through the income statement as the expenses are incurred to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2022 - 48 ) .

KEN WHITE DISTRIBUTION LIMITED (REGISTERED NUMBER: 01536303)

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


5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
Equipment fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st January 2023 387,966 25,819 2,404,208 58,435 2,876,428
Additions 127,394 3,763 52,611 16,764 200,532
Disposals (23,740 ) - (74,514 ) (5,219 ) (103,473 )
At 31st December 2023 491,620 29,582 2,382,305 69,980 2,973,487
DEPRECIATION
At 1st January 2023 330,290 19,657 1,174,274 49,340 1,573,561
Charge for year 18,937 1,816 356,024 5,871 382,648
Eliminated on disposal (23,740 ) - (73,497 ) (5,219 ) (102,456 )
At 31st December 2023 325,487 21,473 1,456,801 49,992 1,853,753
NET BOOK VALUE
At 31st December 2023 166,133 8,109 925,504 19,988 1,119,734
At 31st December 2022 57,676 6,162 1,229,934 9,095 1,302,867

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st January 2023 1,180,810
Additions 42,556
Transfer to ownership (520,881 )
At 31st December 2023 702,485
DEPRECIATION
At 1st January 2023 350,778
Charge for year 218,156
Transfer to ownership (286,343 )
At 31st December 2023 282,591
NET BOOK VALUE
At 31st December 2023 419,894
At 31st December 2022 830,032

6. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST
At 1st January 2023
and 31st December 2023 4,975
NET BOOK VALUE
At 31st December 2023 4,975
At 31st December 2022 4,975

KEN WHITE DISTRIBUTION LIMITED (REGISTERED NUMBER: 01536303)

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


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 468,689 489,752
Amounts owed by group undertakings 47,797 10,763
Other debtors 51,186 136,696
567,672 637,211

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Loan from group undertaking 660,621 610,621
Hire purchase contracts 149,126 287,222
Trade creditors 419,208 394,714
Amounts owed to group undertakings 10,619 10,859
Tax 117,437 1,877
Social security and other taxes 245,767 232,395
Other creditors 13,548 14,827
Directors' current accounts 350 350
Accruals & deferred income 93,290 82,270
1,709,966 1,635,135

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 55,635 174,623

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 204,761 461,845

The hire purchase contracts are secured on the fixed assets for which they were used to purchase.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2,000 Ordinary £1 2,000 2,000

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Neil Raynsford (Senior Statutory Auditor)
for and on behalf of Langdowns DFK Limited

KEN WHITE DISTRIBUTION LIMITED (REGISTERED NUMBER: 01536303)

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


13. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements 589,624 165,197

14. OTHER FINANCIAL COMMITMENTS

Total future financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £240,708 (2022:£295,208).

This amount is in relation to operating lease commitments which are payable over the next 5 years.

15. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group companies where any subsidiary that is a party to the transaction is wholly owned within the group or where transactions have been undertaken under normal market conditions.

16. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr K White.

Mr K White maintained control of the company during the current and previous period by virtue of the fact that he controls the majority of the issued share capital of the parent company, Ken White Holdings Limited.