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REGISTERED NUMBER: 03492846 (England and Wales)














KINGTON PROCESS SYSTEMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023






KINGTON PROCESS SYSTEMS LIMITED (REGISTERED NUMBER: 03492846)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KINGTON PROCESS SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTOR: K E Kington





SECRETARY: Mrs A F Kington





REGISTERED OFFICE: 38-40 St. Andrews Road
Bordesley
Birmingham
West Midlands
B9 4LN





REGISTERED NUMBER: 03492846 (England and Wales)

KINGTON PROCESS SYSTEMS LIMITED (REGISTERED NUMBER: 03492846)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 208,398 116,121

CURRENT ASSETS
Stocks 518,239 152,842
Debtors 5 464,266 836,564
Cash at bank 592,707 672,536
1,575,212 1,661,942
CREDITORS
Amounts falling due within one year 6 298,325 532,844
NET CURRENT ASSETS 1,276,887 1,129,098
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,485,285

1,245,219

CREDITORS
Amounts falling due after more than one
year

7

(59,733

)

-

PROVISIONS FOR LIABILITIES 8 (52,100 ) (22,063 )
NET ASSETS 1,373,452 1,223,156

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 1,373,450 1,223,154
SHAREHOLDERS' FUNDS 1,373,452 1,223,156

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

KINGTON PROCESS SYSTEMS LIMITED (REGISTERED NUMBER: 03492846)

BALANCE SHEET - continued
31ST 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5th September 2024 and were signed by:





K E Kington - Director


KINGTON PROCESS SYSTEMS LIMITED (REGISTERED NUMBER: 03492846)

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

1. STATUTORY INFORMATION

Kington Process Systems 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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.

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.

KINGTON PROCESS SYSTEMS LIMITED (REGISTERED NUMBER: 03492846)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Government grants
Government grants are recognised at the point that they are receivable and there is reasonable assurance that the company will comply with the conditions attached to them. They are valued at the consideration received or to be received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£ £ £
COST
At 1st January 2023 333,323 175,147 508,470
Additions - 113,645 113,645
At 31st December 2023 333,323 288,792 622,115
DEPRECIATION
At 1st January 2023 272,619 119,730 392,349
Charge for year 9,106 12,262 21,368
At 31st December 2023 281,725 131,992 413,717
NET BOOK VALUE
At 31st December 2023 51,598 156,800 208,398
At 31st December 2022 60,704 55,417 116,121

The net book value of tangible fixed assets includes £ 109,696 in respect of assets held under hire purchase contracts.

KINGTON PROCESS SYSTEMS LIMITED (REGISTERED NUMBER: 03492846)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 234,896 646,410
Amounts owed by group undertakings 153,789 107,744
Other debtors - 4,000
VAT 75,581 78,410
464,266 836,564

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Hire purchase contracts 19,515 -
Trade creditors 141,321 284,768
Tax 64,490 74,229
Social security and other taxes 8,339 12,586
Directors' current accounts 1,718 588
Accruals and deferred income 62,942 160,673
298,325 532,844

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Hire purchase contracts 59,733 -

8. PROVISIONS FOR LIABILITIES
2023 2022
£ £
Deferred tax
Accelerated capital allowances 52,100 22,063

Deferred tax
£
Balance at 1st January 2023 22,063
Provided during year 30,037
Balance at 31st December 2023 52,100

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
2 Ordinary £1 2 2

KINGTON PROCESS SYSTEMS LIMITED (REGISTERED NUMBER: 03492846)

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

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£ £
K E Kington
Balance outstanding at start of year - 9,890
Amounts repaid - (9,890 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -