Acorah Software Products - Accounts Production 14.6.300 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 04298972 A Martone K Roots iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04298972 2022-12-31 04298972 2023-12-31 04298972 2023-01-01 2023-12-31 04298972 frs-core:FurnitureFittings 2023-01-01 2023-12-31 04298972 frs-core:MotorVehicles 2023-01-01 2023-12-31 04298972 frs-core:PlantMachinery 2023-01-01 2023-12-31 04298972 frs-core:ShareCapital 2023-12-31 04298972 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 04298972 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04298972 frs-bus:AbridgedAccounts 2023-01-01 2023-12-31 04298972 frs-bus:SmallEntities 2023-01-01 2023-12-31 04298972 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04298972 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04298972 frs-bus:Director1 2023-01-01 2023-12-31 04298972 frs-bus:Director2 2023-01-01 2023-12-31 04298972 frs-countries:EnglandWales 2023-01-01 2023-12-31 04298972 2021-12-31 04298972 2022-12-31 04298972 2022-01-01 2022-12-31 04298972 frs-core:ShareCapital 2022-12-31 04298972 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 04298972
Kemico Limited
ABRIDGED Financial Statements
For The Year Ended 31 December 2023
McKenzies ATS Ltd
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 04298972
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 19,366 12,905
19,366 12,905
CURRENT ASSETS
Stocks 44,107 37,500
Debtors 76,456 105,510
Cash at bank and in hand 311,632 273,005
432,195 416,015
Creditors: Amounts Falling Due Within One Year (196,160 ) (192,959 )
NET CURRENT ASSETS (LIABILITIES) 236,035 223,056
TOTAL ASSETS LESS CURRENT LIABILITIES 255,401 235,961
PROVISIONS FOR LIABILITIES
Deferred Taxation (931 ) -
NET ASSETS 254,470 235,961
CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Profit and Loss Account 253,470 234,961
SHAREHOLDERS' FUNDS 254,470 235,961
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 December 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
A Martone
Director
K Roots
Director
30th July 2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
Kemico Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04298972 . The registered office is 2 Station Road West, Oxted, Surrey, R8 9EP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents net invoiced sales of goods, excluding Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on reducing balance
Motor Vehicles 20% on reducing balance
Fixtures & Fittings 15% on Reducing balance
2.4. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2022: 5)
5 5
4. Tangible Assets
Total
£
Cost
As at 1 January 2023 54,132
Additions 19,000
Disposals (18,500 )
As at 31 December 2023 54,632
Depreciation
As at 1 January 2023 41,227
Provided during the period 4,734
Disposals (10,695 )
As at 31 December 2023 35,266
Net Book Value
As at 31 December 2023 19,366
As at 1 January 2023 12,905
5. Related Party Transactions
Kemico Pension Scheme
A pension scheme of which Mr K D Roots and Mr A Martone are the sole Trustees.
During the year, pension contributions of £36,000 (2022 - £26,000) were paid to Kemico Pension Scheme.
During the year £24,000 (2022 - £24,000) was paid to Kemico Pension Scheme in respect of rental of the business premises.
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