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Registration number: 04408294

Kirton Concrete Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 5 April 2024

 

Kirton Concrete Services Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Kirton Concrete Services Ltd

Company Information

Directors

Mr S Burton

Mr J M Burton

Miss V Burton

Company secretary

Miss V Burton

Registered office

Manor House
Station Road, Hibaldstow
Brigg
North Lincolnshire
DN20 9EB

 

Kirton Concrete Services Ltd

(Registration number: 04408294)
Balance Sheet as at 5 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

24,689

Tangible assets

5

245,445

187,138

 

245,445

211,827

Current assets

 

Stocks

6

3,000

3,000

Debtors

7

225,215

220,162

Cash at bank and in hand

 

103,956

159,834

 

332,171

382,996

Creditors: Amounts falling due within one year

8

(130,602)

(78,808)

Net current assets

 

201,569

304,188

Total assets less current liabilities

 

447,014

516,015

Provisions for liabilities

(61,361)

(35,556)

Net assets

 

385,653

480,459

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

385,553

480,359

Shareholders' funds

 

385,653

480,459

For the financial year ending 5 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 August 2024 and signed on its behalf by:
 

.........................................
Miss V Burton
Company secretary and director

   
     
 

Kirton Concrete Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Manor House
Station Road, Hibaldstow
Brigg
North Lincolnshire
DN20 9EB

These financial statements were authorised for issue by the Board on 1 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

The financial statements cover the individual entity, Kirton Concrete Services Ltd.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

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

 

Kirton Concrete Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

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

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

2% on straight line

Plant and machinery etc

33% on reducing balance

Motor vehicles

33% on reducing balance

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business in 2002, is now being amortised evenly over its estimated useful life of five years starting with the accounts period ended 5 April 2020.

Intangible assets

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

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to sell.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 the profit or loss in the period which they relate.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 8 (2023 - 8).

 

Kirton Concrete Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 6 April 2023

123,441

123,441

At 5 April 2024

123,441

123,441

Amortisation

At 6 April 2023

98,752

98,752

Amortisation charge

24,689

24,689

At 5 April 2024

123,441

123,441

Carrying amount

At 5 April 2024

-

-

At 5 April 2023

24,689

24,689

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 6 April 2023

46,968

339,160

322,618

708,746

Additions

-

68,475

69,390

137,865

Disposals

-

-

(43,017)

(43,017)

At 5 April 2024

46,968

407,635

348,991

803,594

Depreciation

At 6 April 2023

26,411

287,194

208,003

521,608

Charge for the year

939

21,903

45,857

68,699

Eliminated on disposal

-

-

(32,158)

(32,158)

At 5 April 2024

27,350

309,097

221,702

558,149

Carrying amount

At 5 April 2024

19,618

98,538

127,289

245,445

At 5 April 2023

20,557

51,966

114,615

187,138

Included within the net book value of land and buildings above is £19,618 (2023 - £20,557) in respect of freehold land and buildings.
 

6

Stocks

2024
£

2023
£

Other inventories

3,000

3,000

 

Kirton Concrete Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

7

Debtors

Current

2024
£

2023
£

Trade debtors

216,970

213,128

Prepayments

8,245

6,034

Other debtors

-

1,000

 

225,215

220,162

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

8,764

2,904

Taxation and social security

115,970

70,236

Accruals and deferred income

4,400

4,200

Other creditors

1,468

1,468

130,602

78,808

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100