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Company No: 12129508 (England and Wales)

KEA HAULAGE AND PLANT LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

KEA HAULAGE AND PLANT LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

KEA HAULAGE AND PLANT LIMITED

BALANCE SHEET

As at 31 March 2024
KEA HAULAGE AND PLANT LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 534,271 380,352
534,271 380,352
Current assets
Debtors 4 65,072 42,217
Cash at bank and in hand 205,687 172,758
270,759 214,975
Creditors: amounts falling due within one year 5 ( 195,536) ( 223,632)
Net current assets/(liabilities) 75,223 (8,657)
Total assets less current liabilities 609,494 371,695
Creditors: amounts falling due after more than one year 6 ( 23,611) 0
Provision for liabilities ( 127,200) ( 67,422)
Net assets 458,683 304,273
Capital and reserves
Called-up share capital 7 120 120
Profit and loss account 458,563 304,153
Total shareholder's funds 458,683 304,273

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Kea Haulage and Plant Limited (registered number: 12129508) were approved and authorised for issue by the Director on 24 November 2024. They were signed on its behalf by:

Mr N W Johns
Director
KEA HAULAGE AND PLANT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
KEA HAULAGE AND PLANT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Kea Haulage and Plant Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is :
Nancassick Barns,
Feock,
Truro,
Cornwall,
TR3 6QN

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 3 3

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 April 2023 495,829 495,829
Additions 287,232 287,232
Disposals ( 88,050) ( 88,050)
At 31 March 2024 695,011 695,011
Accumulated depreciation
At 01 April 2023 115,477 115,477
Charge for the financial year 81,914 81,914
Disposals ( 36,651) ( 36,651)
At 31 March 2024 160,740 160,740
Net book value
At 31 March 2024 534,271 534,271
At 31 March 2023 380,352 380,352

4. Debtors

2024 2023
£ £
Trade debtors 51,503 24,056
Prepayments 11,522 13,616
VAT recoverable 0 4,545
Other debtors 2,047 0
65,072 42,217

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 43,794 54,640
Amounts owed to director 107,914 132,723
Accruals 2,777 2,273
Taxation and social security 23,203 30,417
Obligations under finance leases and hire purchase contracts 16,666 0
Other creditors 1,182 3,579
195,536 223,632

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 23,611 0

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
120 Ordinary shares of £ 1.00 each 120 120