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REGISTERED NUMBER: 00568587 (England and Wales)















Kellands Plant (SE) Limited

Report of the Directors and

Audited Financial Statements

for the Year Ended 31 December 2023






Kellands Plant (SE) Limited (Registered number: 00568587)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 4

Statement of Comprehensive Income 8

Statement of Financial Position 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


Kellands Plant (SE) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: F D Jeanes
T P Hill
T L E Miller
N J Smith
P V Watts





REGISTERED OFFICE: Salmon Parade
BRIDGWATER
Somerset
TA6 5JY





REGISTERED NUMBER: 00568587 (England and Wales)





AUDITORS: Maxwells
Chartered Accountants
and Statutory Auditor
4 King Square
Bridgwater
Somerset
TA6 3YF

Kellands Plant (SE) Limited (Registered number: 00568587)

Report of the Directors
for the Year Ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of

DIRECTORS
The directors during the year under review were:

F D Jeanes
T P Hill
T L E Miller
M A Payne - resigned 31.8.23
N J Smith
P V Watts

The directors holding office at 31 December 2023 did not hold any beneficial interest in the issued share capital of the company at 1 January 2023 or 31 December 2023.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Maxwells, will be proposed for re-appointment at the forthcoming Annual General Meeting.


Kellands Plant (SE) Limited (Registered number: 00568587)

Report of the Directors
for the Year Ended 31 December 2023

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





F D Jeanes - Director


16 September 2024

Report of the Independent Auditors to the Members of
Kellands Plant (SE) Limited

Opinion
We have audited the financial statements of Kellands Plant (SE) Limited (the 'company') for the year ended 31 December 2023 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Kellands Plant (SE) Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Kellands Plant (SE) Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identifying and assessing potential risks to irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

- Obtaining an understanding of the nature of the industry and sector in which the business operates and focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the company.
- Enquiring of management, including reviewing supporting documentation concerning the company's policies and procedures relating to:
a) Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance.
b) Detecting and responding to the risks of fraud and whether they have knowledge of any factual, suspected or alleged fraud.
c) The internal controls established to mitigate risks related to fraud or non- compliance with laws and regulations
- Discussing with the audit engagement team regarding how and where fraud might occur in the financial statements and potential indications of fraud.

Audit response to risks identified
As a result of performing the above, we did not identify any key audit matters related to the potential risk of fraud or non-compliance with laws and regulations.

Our procedures to respond to risks identified included the following:
- Enquiring of management and those charged with governance concerning actual and potential litigation and claims.
- Reviewing minutes of meetings of those charged with governance and reviewing correspondence with HMRC.
- Performing analytical review procedures to identify and unusual or unexpected transactions that may indicate risks of material misstatement due to fraud.
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; and
- In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of potential bias; and evaluating the business rationale of significant transactions that are unusual or outside the normal course of business.

There are inherent limitations in our audit procedures described above. The more removed those laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Kellands Plant (SE) Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Nigel Blannin (Senior Statutory Auditor)
for and on behalf of Maxwells
Chartered Accountants
and Statutory Auditor
4 King Square
Bridgwater
Somerset
TA6 3YF

16 September 2024

Kellands Plant (SE) Limited (Registered number: 00568587)

Statement of Comprehensive Income
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   

TURNOVER 7,119,135 -

Cost of sales 6,688,571 74,268
GROSS PROFIT/(LOSS) 430,564 (74,268 )

Administrative expenses 378,210 98,052
52,354 (172,320 )

Other operating income 82 191,500
OPERATING PROFIT 5 52,436 19,180

Interest receivable and similar income 5,019 -
PROFIT BEFORE TAXATION 57,455 19,180

Tax on profit 6 13,599 3,130
PROFIT FOR THE FINANCIAL YEAR 43,856 16,050

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

43,856

16,050

Kellands Plant (SE) Limited (Registered number: 00568587)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 5,781 7,708

CURRENT ASSETS
Stocks 8 1,041,752 825,189
Debtors 9 258,608 185,022
Cash at bank 14,443 4,968
1,314,803 1,015,179
CREDITORS
Amounts falling due within one year 10 1,254,310 1,000,369
NET CURRENT ASSETS 60,493 14,810
TOTAL ASSETS LESS CURRENT
LIABILITIES

66,274

22,518

PROVISIONS FOR LIABILITIES 12 1,400 1,500
NET ASSETS 64,874 21,018

CAPITAL AND RESERVES
Called up share capital 13 4,880 4,880
Other reserves 14 48 48
Retained earnings 14 59,946 16,090
SHAREHOLDERS' FUNDS 64,874 21,018

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:




F D Jeanes - Director



P V Watts - Director


Kellands Plant (SE) Limited (Registered number: 00568587)

Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up
share Retained Other Total
capital earnings reserves equity
£    £    £    £   
Balance at 1 January 2022 4,880 40 48 4,968

Changes in equity
Total comprehensive income - 16,050 - 16,050
Balance at 31 December 2022 4,880 16,090 48 21,018

Changes in equity
Total comprehensive income - 43,856 - 43,856
Balance at 31 December 2023 4,880 59,946 48 64,874

Kellands Plant (SE) Limited (Registered number: 00568587)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Kellands Plant (SE) 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.

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 have been prepared in accordance with applicable accounting standards and estimation techniques.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.
Fixtures and fittings - 20% on cost

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Kellands Plant (SE) Limited (Registered number: 00568587)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. ACCOUNTING POLICIES - continued

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 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.

4. EMPLOYEES AND DIRECTORS
31.12.23 31.12.22
£    £   
Wages and salaries 380,960 72,379
Other pension costs 7,920 1,889
388,880 74,268

The average number of employees during the year was as follows:
31.12.23 31.12.22

Management 6 6

31.12.23 31.12.22
£    £   
Directors' remuneration - -

5. OPERATING PROFIT

The operating profit is stated after charging:

31.12.23 31.12.22
£    £   
Other operating leases 50,100 45,925
Depreciation - owned assets 1,927 1,927
Auditors' remuneration 4,000 3,000

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.23 31.12.22
£    £   
Current tax:
UK corporation tax 13,699 1,630

Deferred tax (100 ) 1,500
Tax on profit 13,599 3,130

UK corporation tax has been charged at 25% (2022 - 19%).

Kellands Plant (SE) Limited (Registered number: 00568587)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2023
and 31 December 2023 9,635
DEPRECIATION
At 1 January 2023 1,927
Charge for year 1,927
At 31 December 2023 3,854
NET BOOK VALUE
At 31 December 2023 5,781
At 31 December 2022 7,708

8. STOCKS
31.12.23 31.12.22
£    £   
Goods for resale 1,041,752 825,189

Machine stock includes machines which are secured under stocking loans, as noted in creditors.

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 17,399 -
Amounts owed by group undertakings 188,712 73,252
Tax 52,497 111,770
258,608 185,022

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 51,216 960,739
Stocking loans 901,879 -
Amounts owed to group undertakings 276,600 35,000
Corporation Tax 13,699 1,630
Other creditors 6,916 -
Accruals and deferred income 4,000 3,000
1,254,310 1,000,369

Kellands Plant (SE) Limited (Registered number: 00568587)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Stocking loans 901,879 -

Stocking loans are secured over the machines disclosed in stock at the year-end.

12. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 1,400 1,500

Deferred
tax
£   
Balance at 1 January 2023 1,500
Credit to Income Statement during year (100 )
Balance at 31 December 2023 1,400

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
4,880 Ordinary shares £1 4,880 4,880

14. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 January 2023 16,090 48 16,138
Profit for the year 43,856 43,856
At 31 December 2023 59,946 48 59,994

15. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Kellands Holdings Limited.

The parent company is incorporated in the UK.