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REGISTERED NUMBER: 06265429 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

K O Machines Limited

K O Machines Limited (Registered number: 06265429)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

K O Machines Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: J R Owen
K M Owen
M D Owen





SECRETARY: J R Owen





REGISTERED OFFICE: Lower Laches Farm
Lower Laches Lane
Coven
Wolverhampton
West Midlands
WV10 7PA





REGISTERED NUMBER: 06265429 (England and Wales)





ACCOUNTANTS: Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD

K O Machines Limited (Registered number: 06265429)

Balance Sheet
30 June 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 209,793 169,536
Investment property 5 320,000 320,000
529,793 489,536

CURRENT ASSETS
Stocks 951,390 1,270,762
Debtors 6 760,027 745,669
Cash at bank and in hand 186,851 85
1,898,268 2,016,516
CREDITORS
Amounts falling due within one year 7 (1,236,382 ) (1,339,144 )
NET CURRENT ASSETS 661,886 677,372
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,191,679

1,166,908

CREDITORS
Amounts falling due after more than one
year

8

(111,077

)

(157,901

)

PROVISIONS FOR LIABILITIES 10 (70,513 ) (52,820 )
NET ASSETS 1,010,089 956,187

CAPITAL AND RESERVES
Called up share capital 900 900
Revaluation reserve 91,670 91,670
Retained earnings 917,519 863,617
SHAREHOLDERS' FUNDS 1,010,089 956,187

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

K O Machines Limited (Registered number: 06265429)

Balance Sheet - continued
30 June 2024


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 25 September 2024 and were signed on its behalf by:




J R Owen - Director K M Owen - Director




M D Owen - Director


K O Machines Limited (Registered number: 06265429)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

K O Machines 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 as modified by the revaluation of certain assets.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 33% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 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.

K O Machines Limited (Registered number: 06265429)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 18 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 85,349 15,207 238,419 45,175 384,150
Additions 9,044 - 66,733 2,705 78,482
Disposals - - (15,465 ) - (15,465 )
At 30 June 2024 94,393 15,207 289,687 47,880 447,167
DEPRECIATION
At 1 July 2023 66,115 12,248 107,846 28,405 214,614
Charge for year 6,076 695 22,734 5,309 34,814
Eliminated on disposal - - (12,054 ) - (12,054 )
At 30 June 2024 72,191 12,943 118,526 33,714 237,374
NET BOOK VALUE
At 30 June 2024 22,202 2,264 171,161 14,166 209,793
At 30 June 2023 19,234 2,959 130,573 16,770 169,536

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 320,000
NET BOOK VALUE
At 30 June 2024 320,000
At 30 June 2023 320,000

Investment property comprises £320,000. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31st March 2023 by the Directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

K O Machines Limited (Registered number: 06265429)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. INVESTMENT PROPERTY - continued

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2018 11,670
Valuation in 2023 80,000
Cost 228,330
320,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 753,452 740,169
Prepayments 6,575 5,500
760,027 745,669

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 43,274 269,744
Hire purchase contracts 2,777 12,779
Trade creditors 995,604 895,797
Tax 43,984 59,026
Social security and other taxes 40,009 40,580
VAT 71,811 24,487
Directors' current accounts 287 287
Accrued expenses 38,636 36,444
1,236,382 1,339,144

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 111,077 155,124
Hire purchase contracts - 2,777
111,077 157,901

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 24,043 32,677

K O Machines Limited (Registered number: 06265429)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 216,733
Bank loans 43,274 53,011
43,274 269,744

Amounts falling due between one and two years:
Bank loans - 1-2 years 42,300 43,714

Amounts falling due between two and five years:
Bank loans - 2-5 years 44,734 78,733

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 24,043 32,677

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 70,513 52,820

Deferred
tax
£   
Balance at 1 July 2023 52,820
Provided during year 17,693
Balance at 30 June 2024 70,513

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
K O Machines Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of K O Machines Limited for the year ended 30 June 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of K O Machines Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of K O Machines Limited and state those matters that we have agreed to state to the Board of Directors of K O Machines Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than K O Machines Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that K O Machines Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of K O Machines Limited. You consider that K O Machines Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of K O Machines Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD


25 September 2024