Company registration number: 05397648
Unaudited financial statements
for the year ended 31 December 2023
for
KSC (Port Clarence) Limited
Pages for filing with the Registrar
Company registration number: 05397648
KSC (Port Clarence) Limited
Balance sheet
as at 31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 4 - -
Tangible assets 5 205,794 274,392
205,794 274,392
Current assets
Debtors 1,045,139 1,024,237
Cash at bank and in hand 19,620 346,385
1,064,759 1,370,622
Creditors: amounts falling due within
one year
(220,526) (1,524,131)
Net current assets/(liabilities) 844,233 (153,509)
Total assets less current liabilities 1,050,027 120,883
Creditors: Amounts falling due after
more than one year
(800,000) -
NET ASSETS 250,027 120,883
Capital and reserves
Called up share capital 100,000 100,000
Profit and loss account 150,027 20,883
TOTAL EQUITY 250,027 120,883
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 December 2023.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 05397648
KSC (Port Clarence) Limited
Balance sheet - continued
as at 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 Profit and loss account has not been delivered to the Registrar.
Signed by:
Ms N Thomas, Director
30 August 2024
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KSC (Port Clarence) Limited
Notes to the financial statements
for the year ended 31 December 2023
1 Company information
The company is registered in England and Wales. Its registered number is 05397648. The company is limited by shares. Its registered office is Eco-Option House Lostock Works, Griffiths Road, Northwich, Cheshire, CW9 7XU.
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 historic cost convention.
Going concern
In preparing these financial statements, the director has assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the director takes into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The director considers that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
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KSC (Port Clarence) Limited
Notes to the financial statements - continued
for the year ended 31 December 2023
2 Accounting policies - continued
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.
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Goodwill - Goodwill represents the excess of the cost of
acquisition of unincorporated businesses over the fair
value of net assets acquired. It is initially recognised as
an asset at cost and is subsequently measured at cost
less accumulated amortisation and accumulated
impairment losses. Goodwill is considered to have a
finite useful life and is amortised on a systematic basis
over its expected life.



For the purposes of impairment testing, goodwill is
allocated to the cash-generating units expected to
benefit from the acquisition. Cash-generating units to
which goodwill has been allocated are tested for
impairment at least annually, or more frequently when
there is an indication that the unit may be impaired. If
the recoverable amount of the cash-generating unit is
less than the carrying amount of the unit, the
impairment loss is allocated first to reduce the carrying
amount of any goodwill allocated to the unit and then to
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Plant and machinery - 25% reducing balance
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.



Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
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KSC (Port Clarence) Limited
Notes to the financial statements - continued
for the year ended 31 December 2023
2 Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current 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 taxation
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 been enacted or substantively enacted by the balance sheet date 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 1 (2022 - 2).
4 Intangible assets
Goodwill
£
Cost
At 1 January 2023 2,075,568
At 31 December 2023 2,075,568
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KSC (Port Clarence) Limited
Notes to the financial statements - continued
for the year ended 31 December 2023
4 Intangible assets - continued
Amortisation
At 1 January 2023 2,075,568
At 31 December 2023 2,075,568
Net book value
At 31 December 2023 -
At 31 December 2022 -
5 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 January 2023 7,214,463
At 31 December 2023 7,214,463
Depreciation
At 1 January 2023 6,940,071
Charge for year 68,598
At 31 December 2023 7,008,669
Net book value
At 31 December 2023 205,794
At 31 December 2022 274,392
6 Advances, credit and guarantees granted to directors
The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022.
2023 2022
£ £
Ms Nessa Angelet Thomas
Balance outstanding at start of year (1,300,000) -
Amounts advanced 1,300,000 -
Amounts repaid - (1,300,000)
Balance outstanding at end of year - (1,300,000)
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KSC (Port Clarence) Limited
Notes to the financial statements - continued
for the year ended 31 December 2023
7 Parent company
The controlling party is N.A. Thomas from 30 June 2022.
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