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REGISTERED NUMBER: 04778048 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

KM Industrial Products Limited

KM Industrial Products Limited (Registered number: 04778048)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KM Industrial Products Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: Mrs L J Stafford-Pelham





SECRETARY: Mrs N J Bodmer-Tripp





REGISTERED OFFICE: 23 Mackintosh Road
Rackheath Industrial Estate
Norwich
Norfolk
NR13 6LJ





REGISTERED NUMBER: 04778048 (England and Wales)





ACCOUNTANTS: Shaw & Co
3 Colegate
Norwich
Norfolk
NR3 1BN

KM Industrial Products Limited (Registered number: 04778048)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 673,331 704,248
673,331 704,248

CURRENT ASSETS
Stocks 81,795 104,636
Debtors 6 230,087 290,641
Cash at bank 37,066 28,475
348,948 423,752
CREDITORS
Amounts falling due within one year 7 224,988 230,764
NET CURRENT ASSETS 123,960 192,988
TOTAL ASSETS LESS CURRENT
LIABILITIES

797,291

897,236

CREDITORS
Amounts falling due after more than
one year

8

(203,919

)

(286,120

)

PROVISIONS FOR LIABILITIES (159,367 ) (118,376 )
NET ASSETS 434,005 492,740

KM Industrial Products Limited (Registered number: 04778048)

Balance Sheet - continued
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 15 14
Revaluation reserve 9 44,234 44,234
Retained earnings 389,756 448,492
434,005 492,740

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 director and authorised for issue on 23 August 2024 and were signed by:





Mrs L J Stafford-Pelham - Director


KM Industrial Products Limited (Registered number: 04778048)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

KM Industrial Products 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.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment - 10% reducing balance
Fixtures and fittings - 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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 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.


KM Industrial Products Limited (Registered number: 04778048)

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

2. ACCOUNTING POLICIES - continued
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.

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 7 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 3,715
AMORTISATION
At 1 December 2022
and 30 November 2023 3,715
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

KM Industrial Products Limited (Registered number: 04778048)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 1,200,551
Additions 42,163
At 30 November 2023 1,242,714
DEPRECIATION
At 1 December 2022 496,303
Charge for year 73,080
At 30 November 2023 569,383
NET BOOK VALUE
At 30 November 2023 673,331
At 30 November 2022 704,248

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 184,495 173,995
Other debtors 45,592 116,646
230,087 290,641

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 14,315 12,516
Hire purchase contracts 67,680 107,205
Trade creditors 99,096 87,858
Taxation and social security 37,285 6,847
Other creditors 6,612 16,338
224,988 230,764

KM Industrial Products Limited (Registered number: 04778048)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans 203,919 286,120

9. RESERVES
Revaluation
reserve
£   
At 1 December 2022
and 30 November 2023 44,234