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REGISTERED NUMBER: 09281265 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

KPM AUTOMOTIVE LIMITED

KPM AUTOMOTIVE LIMITED (REGISTERED NUMBER: 09281265)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


KPM AUTOMOTIVE LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTOR: P. H. Da Costa





REGISTERED OFFICE: 164-172 Lukin Street
London
E1 0BN





REGISTERED NUMBER: 09281265 (England and Wales)





ACCOUNTANTS: Accura Accountants Ltd
Langley House
Park Road
East Finchley
London
N2 8EY

KPM AUTOMOTIVE LIMITED (REGISTERED NUMBER: 09281265)

STATEMENT OF FINANCIAL POSITION
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 148,419 173,747

CURRENT ASSETS
Stocks 185,574 164,943
Debtors 5 123,306 184,779
Cash at bank 47,895 11,422
356,775 361,144
CREDITORS
Amounts falling due within one year 6 357,369 406,515
NET CURRENT LIABILITIES (594 ) (45,371 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

147,825

128,376

CREDITORS
Amounts falling due after more than one
year

7

(426,399

)

(478,192

)

PROVISIONS FOR LIABILITIES (5,436 ) (3,988 )
NET LIABILITIES (284,010 ) (353,804 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (284,011 ) (353,805 )
SHAREHOLDERS' FUNDS (284,010 ) (353,804 )

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 director acknowledges his 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.

KPM AUTOMOTIVE LIMITED (REGISTERED NUMBER: 09281265)

STATEMENT OF FINANCIAL POSITION - 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 the director and authorised for issue on 7 November 2024 and were signed by:





P. H. Da Costa - Director


KPM AUTOMOTIVE LIMITED (REGISTERED NUMBER: 09281265)

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

1. STATUTORY INFORMATION

KPM Automotive 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 good and services, exclusive of value added tax. Turnover is recognised once the goods or service is provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 15% on cost

The depreciation policy has changed from 25% on cost, which was previously used on all items, to the policies stated about due to a reassessment of the useful economic life.

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 statement of financial position date.

Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

KPM AUTOMOTIVE LIMITED (REGISTERED NUMBER: 09281265)

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

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.

Impairment of assets
A review of indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversals at each reporting date.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any material unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment or to provide termination benefits.

Going concern
At the balance sheet date the company has net liabilities of £284,011. The shareholders of the company will continue supporting the company to meet its capital requirements and obligations. On the basis the director consider it appropriate to prepare the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 20 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 515,120
Additions 5,095
At 31 December 2023 520,215
DEPRECIATION
At 1 January 2023 341,373
Charge for year 30,423
At 31 December 2023 371,796
NET BOOK VALUE
At 31 December 2023 148,419
At 31 December 2022 173,747

KPM AUTOMOTIVE LIMITED (REGISTERED NUMBER: 09281265)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 79,400 113,840
Other debtors 43,906 70,939
123,306 184,779

Within other debtors are prepayments of £33,383 (2022: £53,910).

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 20,427 11,762
Trade creditors 223,643 228,273
Taxation and social security 99,666 109,703
Other creditors 13,633 56,777
357,369 406,515

Within other creditors are accruals of £16,090 (2022: £60,107).

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 91,676 77,452
Other creditors 334,723 400,740
426,399 478,192

8. SECURED DEBTS

Within long term liabilities is a loan to the company of £Nil (2022: £33,548) from the trustees of the KPM - UK Taxis PLC Discretionary pension scheme. This loan contains a fixed and floating charge over the company vehicles.

9. RELATED PARTY DISCLOSURES

Within long term liabilities is a loan to the company of £Nil (2022: £33,548) from the trustees of the KPM - UK Taxis PLC Discretionary pension scheme.