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REGISTERED NUMBER: 00535975 (England and Wales)















KEN JERVIS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023






KEN JERVIS LIMITED (REGISTERED NUMBER: 00535975)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 7


KEN JERVIS LIMITED (REGISTERED NUMBER: 00535975)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 5 56,174 84,263

CURRENT ASSETS
Stocks 2,191,393 1,711,075
Debtors 6 612,081 1,018,357
Cash at bank and in hand 1,069,572 981,618
3,873,046 3,711,050
CREDITORS
Amounts falling due within one year 7 (3,072,838 ) (3,088,303 )
NET CURRENT ASSETS 800,208 622,747
TOTAL ASSETS LESS CURRENT
LIABILITIES

856,382

707,010

CAPITAL AND RESERVES
Called up share capital 3,436 3,436
Share premium 200,000 200,000
Capital redemption reserve 1,541 1,541
Retained earnings 651,405 502,033
856,382 707,010

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

KEN JERVIS LIMITED (REGISTERED NUMBER: 00535975)

STATEMENT OF FINANCIAL POSITION - continued
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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 September 2024 and were signed by:





D W Norwood - Director


KEN JERVIS LIMITED (REGISTERED NUMBER: 00535975)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Ken Jervis Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00535975

Registered office: 262 Cobridge Road
Hanley
Stoke on Trent
Staffordshire
ST1 5JU

The principal activity of the company is that of a trading company operating in the motor industry.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as described below.

As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual lives are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidence by disposals during current and prior accounting periods.

REVENUE RECOGNITION
Turnover represents the total invoice value, excluding value added tax of sales made during the year, together with commissions and bonuses received as a direct consequence of the invoiced amounts.

KEN JERVIS LIMITED (REGISTERED NUMBER: 00535975)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. ACCOUNTING POLICIES - continued

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 25% straight line
Improvements to property - 25% straight line
Plant and machinery - 25% straight line
Fixtures and fittings - 25% straight line

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.


KEN JERVIS LIMITED (REGISTERED NUMBER: 00535975)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

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 EMPLOYEE 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.

The company provides a range of benefits to employees. Short term benefits, including holiday pay, are recognised as an expense in the profit and loss account in the period in which they are incurred.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 55 (2022 - 50 ) .

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Long to Plant and and
leasehold property machinery fittings Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 414,075 36,972 203,289 201,849 856,185
DEPRECIATION
At 1 January 2023 414,075 36,972 149,876 170,999 771,922
Charge for year - - 17,805 10,284 28,089
At 31 December 2023 414,075 36,972 167,681 181,283 800,011
NET BOOK VALUE
At 31 December 2023 - - 35,608 20,566 56,174
At 31 December 2022 - - 53,413 30,850 84,263

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 427,464 673,136
Directors' loan accounts 146,448 345,221
Tax 24,805 -
Prepayments 13,364 -
612,081 1,018,357

KEN JERVIS LIMITED (REGISTERED NUMBER: 00535975)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 1,196,974 1,128,820
Amounts owed to group undertakings 959,297 959,507
Tax 180,532 98,031
Social security and other taxes 50,545 41,757
VAT 2,297 75,520
Other creditors 15,369 16,881
Accruals and deferred income 667,824 767,787
3,072,838 3,088,303

Amounts owed to group undertakings are repayable as follows; i) £134,000 by September 2026, where interest is charged annually at 3%. ii) £218,000 by September 2027, where interest is charged annually at 3%. iii) £148,000 by 6 November 2028, where interest is charged annually at 3%. iv) £100,000 by 11 September 2029, where interest is charged annually a 3%. v) £100,000 by 16 September 2030, where interest is charged annually at 3%. vi) £150,000 on demand, with no interest charged. vii) £100,000 by 16 September 2032, where interest is charged annually at 3%

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
D W Norwood
Balance outstanding at start of year 345,221 123,557
Amounts advanced 74,032 348,911
Amounts repaid (272,805 ) (127,247 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 146,448 345,221

By virtue of the overdrawn loan accounts, a liability to taxation exists under section 455 of CTA 2010 in the sum of £24,565 which will be repaid or discharged when the loans are repaid. The loans were repaid within nine months of the year end and as such, no taxation has been provided for.

9. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption from the disclosures required by paragraph 33.1A of Financial Report Standard 102 regarding transactions with its parent company as the subsidiary is a wholly owned member.

10. POST BALANCE SHEET EVENTS

There were no significant events up to the date of approval of the financial statements by the Board.

KEN JERVIS LIMITED (REGISTERED NUMBER: 00535975)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


11. ULTIMATE CONTROLLING PARTY

The parent company is Hilbury Holdings Limited, a company registered in England and Wales, by virtue of its 100% shareholding in the company.

The ultimate parent company is considered to be Grindco 267 Limited, a company registered in England and Wales, by virtue of its shareholding in the parent company.