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REGISTERED NUMBER: 07817831 (England and Wales)















K L NUTS BOLTS AND ENGINEERING
SUPPLIES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






K L NUTS BOLTS AND ENGINEERING
SUPPLIES LTD (REGISTERED NUMBER: 07817831)






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

Chartered Accountants' Report 9

K L NUTS BOLTS AND ENGINEERING
SUPPLIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr S J Havers
Mrs L A Havers
Mr J E Havers





REGISTERED OFFICE: Units 4 & 5
Oldmeadow Road
Hardwick Industrial Estate
Kings Lynn
Norfolk
PE30 4JL





REGISTERED NUMBER: 07817831 (England and Wales)





ACCOUNTANTS: Candour Accounts Limited
Endeavour House
7 Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR

K L NUTS BOLTS AND ENGINEERING
SUPPLIES LTD (REGISTERED NUMBER: 07817831)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 85,804 103,473
Investments 6 80,000 80,000
165,804 183,473

CURRENT ASSETS
Stocks 133,429 120,232
Debtors 7 159,195 126,992
Cash at bank and in hand 12,280 2,370
304,904 249,594
CREDITORS
Amounts falling due within one year 8 299,660 149,955
NET CURRENT ASSETS 5,244 99,639
TOTAL ASSETS LESS CURRENT
LIABILITIES

171,048

283,112

CREDITORS
Amounts falling due after more than
one year

9

288,759

323,414
NET LIABILITIES (117,711 ) (40,302 )

K L NUTS BOLTS AND ENGINEERING
SUPPLIES LTD (REGISTERED NUMBER: 07817831)

BALANCE SHEET - continued
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100,200 100,200
Retained earnings (217,911 ) (140,502 )
(117,711 ) (40,302 )

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.

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 Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:





Mr J E Havers - Director


K L NUTS BOLTS AND ENGINEERING
SUPPLIES LTD (REGISTERED NUMBER: 07817831)

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

1. STATUTORY INFORMATION

K L Nuts Bolts And Engineering Supplies Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of four years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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 balance sheet date.

K L NUTS BOLTS AND ENGINEERING
SUPPLIES LTD (REGISTERED NUMBER: 07817831)

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

2. ACCOUNTING POLICIES - continued

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.

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 6 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 8,000
AMORTISATION
At 1 January 2023
and 31 December 2023 8,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

K L NUTS BOLTS AND ENGINEERING
SUPPLIES LTD (REGISTERED NUMBER: 07817831)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 3,404 1,536 46,021 150,269 201,230
Disposals - - - (9,005 ) (9,005 )
At 31 December 2023 3,404 1,536 46,021 141,264 192,225
DEPRECIATION
At 1 January 2023 - 1,346 37,888 58,523 97,757
Charge for year - 29 1,220 13,761 15,010
Eliminated on disposal - - - (6,346 ) (6,346 )
At 31 December 2023 - 1,375 39,108 65,938 106,421
NET BOOK VALUE
At 31 December 2023 3,404 161 6,913 75,326 85,804
At 31 December 2022 3,404 190 8,133 91,746 103,473

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 80,000
NET BOOK VALUE
At 31 December 2023 80,000
At 31 December 2022 80,000

K L NUTS BOLTS AND ENGINEERING
SUPPLIES LTD (REGISTERED NUMBER: 07817831)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 92,219 80,100
Other debtors 3,488 3,488
VAT 20,804 15,094
Deferred tax asset 36,346 20,810
Prepayments 6,338 7,500
159,195 126,992

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 13,986 25,125
Other loans 11,284 7,881
Hire purchase contracts 11,686 11,686
Trade creditors 227,013 99,559
Amounts owed to group undertakings 26,211 -
Social security and other taxes 967 1,385
Pension control account 295 350
Other creditors 6,118 1,869
Accruals and deferred income 2,100 2,100
299,660 149,955

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 11,045 20,391
Other loans 17,701 31,323
Hire purchase contracts 19,464 31,151
Directors' loan accounts 240,549 240,549
288,759 323,414

K L NUTS BOLTS AND ENGINEERING
SUPPLIES LTD (REGISTERED NUMBER: 07817831)

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

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 25,031 45,516
Hire purchase contracts 31,150 42,837
56,181 88,353

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 December 2023 and the period ended 31 December 2022:

2023 2022
£    £   
Mr J E Havers
Balance outstanding at start of year (113,284 ) (213,284 )
Amounts advanced - 100,000
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (113,284 ) (113,284 )

Mr S J Havers
Balance outstanding at start of year (127,264 ) (127,264 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (127,264 ) (127,264 )

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
K L NUTS BOLTS AND ENGINEERING
SUPPLIES LTD

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 L Nuts Bolts And Engineering Supplies Ltd for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, 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 L Nuts Bolts And Engineering Supplies Ltd, 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 L Nuts Bolts And Engineering Supplies Ltd and state those matters that we have agreed to state to the Board of Directors of K L Nuts Bolts And Engineering Supplies Ltd, 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 L Nuts Bolts And Engineering Supplies Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that K L Nuts Bolts And Engineering Supplies Ltd 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 loss of K L Nuts Bolts And Engineering Supplies Ltd. You consider that K L Nuts Bolts And Engineering Supplies Ltd 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 L Nuts Bolts And Engineering Supplies Ltd. 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.






Candour Accounts Limited
Endeavour House
7 Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR



CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
K L NUTS BOLTS AND ENGINEERING
SUPPLIES LTD

30 September 2024