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REGISTERED NUMBER: 07101568 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

R K ENGINEERING (ATHERSTONE) LIMITED

R K ENGINEERING (ATHERSTONE) LIMITED (REGISTERED NUMBER: 07101568)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R K ENGINEERING (ATHERSTONE) LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: K M Chetwynd
D G Chetwynd





REGISTERED OFFICE: 40 Fourways
Carlyon Road Industrial Estate
Atherstone
Warwickshire
CV9 1LG





REGISTERED NUMBER: 07101568 (England and Wales)





ACCOUNTANTS: LDP Luckmans
1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB

R K ENGINEERING (ATHERSTONE) LIMITED (REGISTERED NUMBER: 07101568)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 385,989 407,965

CURRENT ASSETS
Stocks 15,134 16,932
Debtors 5 374,684 378,531
Cash at bank 33,408 48,837
423,226 444,300
CREDITORS
Amounts falling due within one year 6 384,672 345,867
NET CURRENT ASSETS 38,554 98,433
TOTAL ASSETS LESS CURRENT
LIABILITIES

424,543

506,398

CREDITORS
Amounts falling due after more than one
year

7

(104,342

)

(153,258

)

PROVISIONS FOR LIABILITIES (94,143 ) (99,147 )
NET ASSETS 226,058 253,993

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 226,057 253,992
226,058 253,993

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 directors acknowledge their 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.

R K ENGINEERING (ATHERSTONE) LIMITED (REGISTERED NUMBER: 07101568)

BALANCE SHEET - 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 Income Statement has not been delivered.

The financial statements were approved by David Gary Chetwynd the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





K M Chetwynd - Director


R K ENGINEERING (ATHERSTONE) LIMITED (REGISTERED NUMBER: 07101568)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

R K Engineering (Atherstone) 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.

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

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.

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.

R K ENGINEERING (ATHERSTONE) LIMITED (REGISTERED NUMBER: 07101568)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 19 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2023 971,953
Additions 43,535
Disposals (9,200 )
At 31 December 2023 1,006,288
DEPRECIATION
At 1 January 2023 563,988
Charge for year 64,915
Eliminated on disposal (8,604 )
At 31 December 2023 620,299
NET BOOK VALUE
At 31 December 2023 385,989
At 31 December 2022 407,965

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 January 2023 682,703
Additions 26,375
Disposals (9,200 )
At 31 December 2023 699,878
DEPRECIATION
At 1 January 2023 363,469
Charge for year 51,114
Eliminated on disposal (8,604 )
At 31 December 2023 405,979
NET BOOK VALUE
At 31 December 2023 293,899
At 31 December 2022 319,234

R K ENGINEERING (ATHERSTONE) LIMITED (REGISTERED NUMBER: 07101568)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 191,032 222,169
Directors' current accounts 182,152 150,813
Prepayments 1,500 5,549
374,684 378,531

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 23,965 23,965
Hire purchase contracts 54,899 54,617
Trade creditors 61,109 95,790
Tax 500 5,117
Social security and other taxes 8,577 9,841
VAT 35,864 67,099
Other creditors 67,802 67,890
Factoring account 92,554 929
Accrued expenses 39,402 20,619
384,672 345,867

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 11,112 23,965
Bank loans - 2-5 years 4,627 15,738
Hire purchase contracts 88,603 113,555
104,342 153,258