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REGISTERED NUMBER: 05823182 (England and Wales)


















AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

KJM TRADE LIMITED

KJM TRADE LIMITED (REGISTERED NUMBER: 05823182)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KJM TRADE LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: L J Mason
Mrs E Mason



REGISTERED OFFICE: White Bear Yard
Park Road
Adlington
Chorley
Lancashire
PR7 4HZ



REGISTERED NUMBER: 05823182 (England and Wales)



AUDITORS: Fairhurst
Statutory Auditor
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB



BANKERS: Yorkshire Bank plc
3 Orchard Street
Preston
PR1 2EN

KJM TRADE LIMITED (REGISTERED NUMBER: 05823182)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 5 673,487 756,209
Cash at bank and in hand 7,613 401
681,100 756,610
CREDITORS
Amounts falling due within one year 6 133,802 209,420
NET CURRENT ASSETS 547,298 547,190
TOTAL ASSETS LESS CURRENT
LIABILITIES

547,298

547,190

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 547,297 547,189
SHAREHOLDERS' FUNDS 547,298 547,190

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.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





L J Mason - Director


KJM TRADE LIMITED (REGISTERED NUMBER: 05823182)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

KJM Trade 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. 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.

Tangible fixed assets
Tangible fixed assets are measured at cost less depreciation and any impairment.

Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets, over their expected useful lives, as follows:

Plant and machinery- 25% on cost

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset in prior periods. A reversal of an impairment loss is recognised immediately in the profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. 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 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.

Foreign currencies
Balances at the year end denominated in a foreign currency are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions denominated in foreign currencies are translated into sterling and recorded at the rate of exchange ruling at the date of transaction.

KJM TRADE LIMITED (REGISTERED NUMBER: 05823182)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Leases
Rentals payable under operating leases are charged to the profit or loss on a straight-line basis over the lease term. The aggregate benefit of lease incentives are recognised as a reduction to the expense recognised over the lease term on a straight line basis.

Financial instruments
The following assets and liabilities are classified as basic financial instruments - trade debtors, trade creditors and related party loans. Basic financial instruments are recognised at amortised cost.

Related party loans have no stated interest rate, are payable on demand and are measured at the undiscounted amount due.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2023
and 31 December 2023 32,969
DEPRECIATION
At 1 January 2023
and 31 December 2023 32,969
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 673,277 755,999
Other debtors 210 210
673,487 756,209

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 192,690
Amounts owed to group undertakings 127,692 10,433
Tax - 186
Accrued expenses 6,110 6,111
133,802 209,420

KJM TRADE LIMITED (REGISTERED NUMBER: 05823182)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 192,690

The group overdraft facility is secured by debentures over the assets of each company in the 2Moto group, an unlimited intercompany guarantee between the group companies and by a £2.2 million guarantee from the Mason family.

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John B S Fairhurst BA(Hons) FCA (Senior Statutory Auditor)
for and on behalf of Fairhurst

9. RELATED PARTY DISCLOSURES

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.

During the year, premises rent of £Nil (2022: £10,000) was paid to a related party.

10. ULTIMATE PARENT COMPANY

The ultimate parent company is 2 Moto Limited, which prepares group financial statements. Accounts for 2 Moto Limited can be obtained from its registered office, White Bear Yard, Park Road, Adlington, Chorley, PR7 4HZ.