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Company No: 11629807 (England and Wales)

KINGSHEATH PLANT LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

KINGSHEATH PLANT LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

KINGSHEATH PLANT LIMITED

COMPANY INFORMATION

For the financial year ended 30 November 2023
KINGSHEATH PLANT LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 November 2023
DIRECTORS Helen Jeffery
Matthew Jeffery
Ashley Pike
James Anthony Pike
REGISTERED OFFICE Barton House The Street
Bredhurst
Gillingham
ME7 3LQ
England
United Kingdom
COMPANY NUMBER 11629807 (England and Wales)
ACCOUNTANT Kreston Reeves LLP
37 St Margarets Street
Canterbury
Kent
CT1 2TU
KINGSHEATH PLANT LIMITED

BALANCE SHEET

As at 30 November 2023
KINGSHEATH PLANT LIMITED

BALANCE SHEET (continued)

As at 30 November 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 4,196,289 2,644,042
4,196,289 2,644,042
Current assets
Debtors 5 2,270,101 488,119
Cash at bank and in hand 6 155,192 1,023,890
2,425,293 1,512,009
Creditors: amounts falling due within one year 7 ( 2,018,727) ( 1,200,049)
Net current assets 406,566 311,960
Total assets less current liabilities 4,602,855 2,956,002
Creditors: amounts falling due after more than one year 8 ( 3,300,700) ( 2,186,310)
Provision for liabilities 9, 10 ( 538,650) ( 255,456)
Net assets 763,505 514,236
Capital and reserves
Called-up share capital 11 402 400
Profit and loss account 763,103 513,836
Total shareholders' funds 763,505 514,236

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Kingsheath Plant Limited (registered number: 11629807) were approved and authorised for issue by the Board of Directors on 30 August 2024. They were signed on its behalf by:

James Anthony Pike
Director
KINGSHEATH PLANT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
KINGSHEATH PLANT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Kingsheath Plant Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Barton House The Street, Bredhurst, Gillingham, ME7 3LQ, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

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 fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that could have a significant impact on the amounts recognised. During the year to 30 November 2023 no critical accounting judgements were required.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 December 2022 3,354,888 3,354,888
Additions 2,633,547 2,633,547
At 30 November 2023 5,988,435 5,988,435
Accumulated depreciation
At 01 December 2022 710,846 710,846
Charge for the financial year 1,081,300 1,081,300
At 30 November 2023 1,792,146 1,792,146
Net book value
At 30 November 2023 4,196,289 4,196,289
At 30 November 2022 2,644,042 2,644,042

5. Debtors

2023 2022
£ £
Trade debtors 1,456,932 140,966
Other debtors 813,169 347,153
2,270,101 488,119

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 155,192 1,023,890

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 44,468 0
Amounts owed to Group undertakings 657,855 344,851
Other taxation and social security 196 310
Obligations under finance leases and hire purchase contracts 1,311,208 518,659
Other creditors 5,000 336,229
2,018,727 1,200,049

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Obligations under finance leases and hire purchase contracts 3,300,700 2,186,310

There are no amounts included above in respect of which any security has been given by the small entity.

9. Provision for liabilities

2023 2022
£ £
Deferred tax 538,650 255,456

10. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 255,456) 0
Charged to the Profit and Loss Account ( 282,359) ( 200,618)
At the end of financial year ( 538,650) ( 255,456)

11. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
300 A Ordinary shares of £ 1.00 each 300 300
100 B Ordinary shares of £ 1.00 each 100 100
2 C Ordinary shares of £ 1.00 each 2 2
402 402

12. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial year.

13. Ultimate controlling party

The company is controlled by Mr J Pike, a director, by virtue of his majority interest in the issued ordinary share capital of the company.