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REGISTERED NUMBER: 09495237 (England and Wales)















KINGHORN& SON LTD

Unaudited Financial Statements For The Year Ended 31 March 2024






KINGHORN& SON LTD (REGISTERED NUMBER: 09495237)






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

KINGHORN& SON LTD

Company Information
For The Year Ended 31 March 2024







DIRECTOR: A Kinghorn





SECRETARY: Mrs W Kinghorn





REGISTERED OFFICE: 28 Albany Gardens
Whitley Bay
Tyne and Wear
NE26 2DY





REGISTERED NUMBER: 09495237 (England and Wales)





ACCOUNTANTS: Ron Joyce Ltd
Chartered Certified Accountant
18 Norham Road
Whitley Bay
Tyne and Wear
NE26 2SD

KINGHORN& SON LTD (REGISTERED NUMBER: 09495237)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,151 4,201

CURRENT ASSETS
Debtors 5 18,914 21,021
Cash at bank and in hand 2,324 1,346
21,238 22,367
CREDITORS
Amounts falling due within one year 6 18,460 12,719
NET CURRENT ASSETS 2,778 9,648
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,929

13,849

CREDITORS
Amounts falling due after more than one
year

7

(5,443

)

(6,751

)

PROVISIONS FOR LIABILITIES 11 (476 ) (648 )
NET ASSETS 10 6,450

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 7 6,447
10 6,450

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

KINGHORN& SON LTD (REGISTERED NUMBER: 09495237)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 October 2024 and were signed by:





A Kinghorn - Director


KINGHORN& SON LTD (REGISTERED NUMBER: 09495237)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

KINGHORN& SON 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.

Significant judgements
There were no judgements made that were significant enough to warrant disclosure.

Turnover
Turnover is stated net of value added tax and represents the total receivable by the company. The revenue is recognised on the raising of a sales invoice on completion of work.

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
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

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.

Significant estimates
There were no estimates made that were significant enough to warrant disclosure.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

KINGHORN& SON LTD (REGISTERED NUMBER: 09495237)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 1,985 13,798 415 16,198
DEPRECIATION
At 1 April 2023 1,264 10,524 209 11,997
Charge for year 180 819 51 1,050
At 31 March 2024 1,444 11,343 260 13,047
NET BOOK VALUE
At 31 March 2024 541 2,455 155 3,151
At 31 March 2023 721 3,274 206 4,201

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 18,914 21,021

Included in Other debtors are CIS outstanding repayment £15,783 (£19,255 2023) retentions £2,273 (£1,000 - 2023) and prepayments £258 (£166 - 2023).

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 2,807 2,775
Trade creditors 140 574
Taxation and social security 5,204 4,621
Other creditors 10,309 4,749
18,460 12,719

Included in other creditors are amounts owed to the Directors, this year they were owed £3,941 (£40 - 2023).

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) 5,443 6,751

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 2,807 2,775

KINGHORN& SON LTD (REGISTERED NUMBER: 09495237)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

8. LOANS - continued
2024 2023
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 2,878 2,845

Amounts falling due between two and five years:
Bank loans - 2-5 years 2,565 3,906

The company received a Coronavirus Bounce Back Loan. This is required to be disclosed in the accounts as amounts owing in less than one year, between 1 and 2 years, between 2 and five years and over five years, all as set out above.

9. SECURED DEBTS

A bank loan and bank overdraft facility made available to the company are secured by way of a Director's personal guarantee.

10. FINANCIAL INSTRUMENTS

Debtors are shown at their impaired value (i.e. less doubtful debts).
Loans made to the company are valued at the carrying amount which is determined deducting capital repayments and by adding interest calculated using the effective interest method on an actuarial basis.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 476 648

Deferred
tax
£   
Balance at 1 April 2023 648
Provided during year (172 )
Balance at 31 March 2024 476

KINGHORN& SON LTD

Report of the Accountants to the Director of
KINGHORN& SON LTD

The following reproduces the text of the report prepared for the director 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 Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2024 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Ron Joyce Ltd
Chartered Certified Accountant
18 Norham Road
Whitley Bay
Tyne and Wear
NE26 2SD


25 October 2024