Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3114The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01falseplant hire contractor14truetrue 03133696 2023-01-01 2023-12-31 03133696 2022-01-01 2022-12-31 03133696 2023-12-31 03133696 2022-12-31 03133696 c:Director1 2023-01-01 2023-12-31 03133696 d:PlantMachinery 2023-01-01 2023-12-31 03133696 d:PlantMachinery 2023-12-31 03133696 d:PlantMachinery 2022-12-31 03133696 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03133696 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 03133696 d:MotorVehicles 2023-01-01 2023-12-31 03133696 d:MotorVehicles 2023-12-31 03133696 d:MotorVehicles 2022-12-31 03133696 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03133696 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 03133696 d:FurnitureFittings 2023-01-01 2023-12-31 03133696 d:FurnitureFittings 2023-12-31 03133696 d:FurnitureFittings 2022-12-31 03133696 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03133696 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 03133696 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 03133696 d:OtherPropertyPlantEquipment 2023-12-31 03133696 d:OtherPropertyPlantEquipment 2022-12-31 03133696 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03133696 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 03133696 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03133696 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 03133696 d:CurrentFinancialInstruments 2023-12-31 03133696 d:CurrentFinancialInstruments 2022-12-31 03133696 d:Non-currentFinancialInstruments 2023-12-31 03133696 d:Non-currentFinancialInstruments 2022-12-31 03133696 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03133696 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03133696 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 03133696 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 03133696 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 03133696 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 03133696 d:ShareCapital 2023-12-31 03133696 d:ShareCapital 2022-12-31 03133696 d:RetainedEarningsAccumulatedLosses 2023-12-31 03133696 d:RetainedEarningsAccumulatedLosses 2022-12-31 03133696 c:OrdinaryShareClass1 2023-01-01 2023-12-31 03133696 c:OrdinaryShareClass1 2023-12-31 03133696 c:OrdinaryShareClass1 2022-12-31 03133696 c:FRS102 2023-01-01 2023-12-31 03133696 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03133696 c:FullAccounts 2023-01-01 2023-12-31 03133696 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03133696 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 03133696 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 03133696 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 03133696 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 03133696 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-12-31 03133696 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-12-31 03133696 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-31 03133696 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-12-31 03133696 d:LeasedAssetsHeldAsLessee 2023-12-31 03133696 d:LeasedAssetsHeldAsLessee 2022-12-31 03133696 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 03133696






KSS HIRE SERVICES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










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KSS HIRE SERVICES LIMITED
REGISTERED NUMBER:03133696

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,152,926
2,185,731

  
2,152,926
2,185,731

Current assets
  

Stocks
  
43,557
39,484

Debtors: amounts falling due within one year
 5 
321,691
277,735

Cash at bank and in hand
  
72,992
177,333

  
438,240
494,552

Creditors: amounts falling due within one year
 6 
(460,447)
(584,627)

Net current liabilities
  
 
 
(22,207)
 
 
(90,075)

Total assets less current liabilities
  
2,130,719
2,095,656

Creditors: amounts falling due after more than one year
 7 
(268,016)
(337,126)

Provisions for liabilities
  

Deferred tax
  
(485,324)
(402,244)

  
 
 
(485,324)
 
 
(402,244)

Net assets
  
1,377,379
1,356,286


Capital and reserves
  

Called up share capital 
 10 
1
1

Profit and loss account
  
1,377,378
1,356,285

  
1,377,379
1,356,286


Page 1

 
KSS HIRE SERVICES LIMITED
REGISTERED NUMBER:03133696
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


S Nicholls
Director

Date: 3 July 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
KSS HIRE SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

KSS Hire Services Limited is a private company limited by shares incorporated in England and Wales. The Registered Office is Russell Gardens, Wickford, Essex, SS11 8BH.
The principal activity of the company continued to be that of plant hire contractor.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
KSS HIRE SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
KSS HIRE SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
10%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
20%
reducing balance
Other fixed assets
-
10%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

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

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.10

Debtors

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.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

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

Page 5

 
KSS HIRE SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
 
Page 6

 
KSS HIRE SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.14
Financial instruments (continued)


Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 14 (2022 - 14).

Page 7

 
KSS HIRE SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
2,595,143
460,877
159,089
55,055
3,270,164


Additions
73,986
210,434
-
6,386
290,806


Disposals
(77,204)
(90,289)
-
(5,863)
(173,356)



At 31 December 2023

2,591,925
581,022
159,089
55,578
3,387,614



Depreciation


At 1 January 2023
711,497
271,697
90,228
11,011
1,084,433


Charge for the year on owned assets
130,641
25,349
13,772
11,116
180,878


Charge for the year on financed assets
59,559
28,160
-
-
87,719


Disposals
(39,256)
(79,086)
-
-
(118,342)



At 31 December 2023

862,441
246,120
104,000
22,127
1,234,688



Net book value



At 31 December 2023
1,729,484
334,902
55,089
33,451
2,152,926



At 31 December 2022
1,883,646
189,180
68,861
44,044
2,185,731

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
536,027
692,421

Motor vehicles
261,480
129,635

797,507
822,056

Page 8

 
KSS HIRE SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
168,698
132,564

Amounts owed by group undertakings
17,780
21,706

Prepayments and accrued income
135,213
123,465

321,691
277,735



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
32,172
27,645

Amounts owed to group undertakings
123,702
211,782

Other taxation and social security
49,569
52,550

Obligations under finance lease and hire purchase contracts
236,798
273,703

Other creditors
2,580
2,224

Accruals and deferred income
5,626
6,723

460,447
584,627


Kiln Supply Services Limited holds a debenture over the assets of the company in respect of the liabilities due to itself.
Amounts included within obligations under finance lease and hire purchase contracts are secured on the assets to which they relate.


7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
14,998
25,000

Net obligations under finance leases and hire purchase contracts
253,018
312,126

268,016
337,126


Page 9

 
KSS HIRE SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000


Amounts falling due 2-5 years

Bank loans
14,998
25,000


14,998
25,000


24,998
35,000



9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
236,798
273,703

Between 1-5 years
253,018
312,126

489,816
585,829


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £10,151 (2022: £9,675). Contributions totalling £2,568 (2022: £2,429) were payable to the fund at the balance sheet date and are included in creditors.
 
Page 10