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REGISTERED NUMBER: 02603492 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Ken Wood & Sons (Construction) Limited

Ken Wood & Sons (Construction) Limited (Registered number: 02603492)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Ken Wood & Sons (Construction) Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: R K Wood
P E Wood





REGISTERED OFFICE: Unit D
Off Sanders Road
Heapham Road Ind Estate
Gainsborough
Lincolnshire
DN21 1RZ





REGISTERED NUMBER: 02603492 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Office 1
Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Ken Wood & Sons (Construction) 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 Ken Wood & Sons (Construction) Limited for the year ended 31 August 2024 which comprise the Income Statement, Balance Sheet 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 Ken Wood & Sons (Construction) 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 Ken Wood & Sons (Construction) Limited and state those matters that we have agreed to state to the Board of Directors of Ken Wood & Sons (Construction) 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 Ken Wood & Sons (Construction) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ken Wood & Sons (Construction) 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 Ken Wood & Sons (Construction) Limited. You consider that Ken Wood & Sons (Construction) 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 Ken Wood & Sons (Construction) 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.






Wright Vigar Limited
Chartered Accountants & Business Advisers
Office 1
Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA


Date: .............................................

Ken Wood & Sons (Construction) Limited (Registered number: 02603492)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 459,295 379,662

CURRENT ASSETS
Stocks 48,550 61,434
Debtors 5 468,525 307,840
Cash at bank and in hand 119,929 111,575
637,004 480,849
CREDITORS
Amounts falling due within one year 6 583,359 341,671
NET CURRENT ASSETS 53,645 139,178
TOTAL ASSETS LESS CURRENT
LIABILITIES

512,940

518,840

CREDITORS
Amounts falling due after more than one
year

7

(384,028

)

(414,051

)

PROVISIONS FOR LIABILITIES (67,829 ) (51,887 )
NET ASSETS 61,083 52,902

CAPITAL AND RESERVES
Called up share capital 9 1,060 1,060
Retained earnings 60,023 51,842
SHAREHOLDERS' FUNDS 61,083 52,902

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

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 4 November 2024 and were signed on its behalf by:





P E Wood - Director


Ken Wood & Sons (Construction) Limited (Registered number: 02603492)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Ken Wood & Sons (Construction) 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 represents net invoiced sales of goods and services, excluding value added tax.

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 - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stock and work in progress
Short term work in progress is valued at the lower of cost and net realisable value. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. Net realisable value is based on estimated selling price less further costs to completion and selling costs.

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

Ken Wood & Sons (Construction) Limited (Registered number: 02603492)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

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.

Amounts recoverable on contracts
The amount by which recorded turnover on long term contracts is in excess of payments on account is classified as amounts recoverable on contracts under debtors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 20 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Land and Plant and and
Buildings machinery fittings
£    £    £   
COST
At 1 September 2023 165,000 196,427 27,011
Additions - 32,995 -
Disposals - - -
At 31 August 2024 165,000 229,422 27,011
DEPRECIATION
At 1 September 2023 59,400 142,625 22,602
Charge for year 3,300 15,051 881
Eliminated on disposal - - -
At 31 August 2024 62,700 157,676 23,483
NET BOOK VALUE
At 31 August 2024 102,300 71,746 3,528
At 31 August 2023 105,600 53,802 4,409

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2023 450,232 9,610 848,280
Additions 152,385 1,983 187,363
Disposals (25,888 ) - (25,888 )
At 31 August 2024 576,729 11,593 1,009,755
DEPRECIATION
At 1 September 2023 237,199 6,792 468,618
Charge for year 70,682 2,918 92,832
Eliminated on disposal (10,990 ) - (10,990 )
At 31 August 2024 296,891 9,710 550,460
NET BOOK VALUE
At 31 August 2024 279,838 1,883 459,295
At 31 August 2023 213,033 2,818 379,662

Ken Wood & Sons (Construction) Limited (Registered number: 02603492)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 311,072 150,599
Amounts recoverable on contracts 105,000 105,000
Other debtors 52,453 52,241
468,525 307,840

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 63,432 63,153
Hire purchase contracts 89,403 62,309
Trade creditors 262,098 121,025
Taxation and social security 139,326 66,089
Other creditors 29,100 29,095
583,359 341,671

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 224,218 283,461
Hire purchase contracts 159,810 130,590
384,028 414,051

Amounts falling due in more than five years:

Repayable by instalments
Bank loan over five years 130,848 141,865

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 287,650 346,614
Hire purchase contracts 249,213 192,899
536,863 539,513

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary C £1 10 10

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary A £1 1,000 1,000
50 Ordinary B £1 50 50
1,050 1,050

Ken Wood & Sons (Construction) Limited (Registered number: 02603492)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

10. ULTIMATE CONTROLLING PARTY

Ultimate control of the company lies equally with R K and P E Wood by virtue of their shares held in the company.