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REGISTERED NUMBER: 01377505 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Gordon Kitto Welding Limited

Gordon Kitto Welding Limited (Registered number: 01377505)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gordon Kitto Welding Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr Benjamin Anthony Jones
Mr Kevin Jones





REGISTERED OFFICE: Unit 4 St Michaels Road
Lee Green
St Helens
Merseyside
WA9 4WZ





REGISTERED NUMBER: 01377505 (England and Wales)





ACCOUNTANTS: LJS Accounting Services (UK) Ltd
Unit 5, 1st Floor
Connect Business Village
24 Derby Road
Liverpool
Merseyside
L5 9PR

Gordon Kitto Welding Limited (Registered number: 01377505)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,275 3,275
Tangible assets 5 290,572 279,240
293,847 282,515

CURRENT ASSETS
Stocks 267,536 243,618
Debtors 6 115,671 92,172
Cash at bank and in hand 153,075 90,157
536,282 425,947
CREDITORS
Amounts falling due within one year 7 231,312 217,230
NET CURRENT ASSETS 304,970 208,717
TOTAL ASSETS LESS CURRENT
LIABILITIES

598,817

491,232

CREDITORS
Amounts falling due after more than one year 8 (66,043 ) (73,333 )

PROVISIONS FOR LIABILITIES (11,509 ) -
NET ASSETS 521,265 417,899

CAPITAL AND RESERVES
Called up share capital 90 90
Revaluation reserve 9 67,469 67,469
Capital redemption reserve 410 410
Retained earnings 453,296 349,930
521,265 417,899

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

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

Gordon Kitto Welding Limited (Registered number: 01377505)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2024 and were signed on its behalf by:





Mr Kevin Jones - Director


Gordon Kitto Welding Limited (Registered number: 01377505)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Gordon Kitto Welding 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Gordon Kitto Welding Limited (Registered number: 01377505)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 3,275
NET BOOK VALUE
At 31 December 2023 3,275
At 31 December 2022 3,275

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 230,000 148,450 12,347
Additions - 20,321 635
At 31 December 2023 230,000 168,771 12,982
DEPRECIATION
At 1 January 2023 - 119,537 762
Charge for year - 5,855 1,809
At 31 December 2023 - 125,392 2,571
NET BOOK VALUE
At 31 December 2023 230,000 43,379 10,411
At 31 December 2022 230,000 28,913 11,585

Gordon Kitto Welding Limited (Registered number: 01377505)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 12,239 12,879 415,915
Additions - 241 21,197
At 31 December 2023 12,239 13,120 437,112
DEPRECIATION
At 1 January 2023 9,581 6,795 136,675
Charge for year 665 1,536 9,865
At 31 December 2023 10,246 8,331 146,540
NET BOOK VALUE
At 31 December 2023 1,993 4,789 290,572
At 31 December 2022 2,658 6,084 279,240

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 96,268 70,929
Other debtors 19,403 21,243
115,671 92,172

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 2,171 -
Trade creditors 102,515 126,971
Taxation and social security 43,037 49,126
Other creditors 83,589 41,133
231,312 217,230

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 53,333 73,333
Other creditors 12,710 -
66,043 73,333

9. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 67,469