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REGISTERED NUMBER: 07264564 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Kingsley Hard Metals Limited

Kingsley Hard Metals Limited (Registered number: 07264564)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kingsley Hard Metals Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: J K Taylor
K J Beck





SECRETARY: J K Taylor





REGISTERED OFFICE: 15 Sea Lane
Ferring
West Sussex
BN12 5DP





REGISTERED NUMBER: 07264564 (England and Wales)





ACCOUNTANTS: Reeves Wilkinson Limited trading as Botting & Co
Chartered Certified Accountants
41b Beach Road
Littlehampton
West Sussex
BN17 5JA

Kingsley Hard Metals Limited (Registered number: 07264564)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 131,316 83,919

CURRENT ASSETS
Stocks 504,102 750,903
Debtors 5 871,749 695,970
Cash at bank 12,463 4,881
1,388,314 1,451,754
CREDITORS
Amounts falling due within one year 6 (1,304,426 ) (1,375,561 )
NET CURRENT ASSETS 83,888 76,193
TOTAL ASSETS LESS CURRENT
LIABILITIES

215,204

160,112

CREDITORS
Amounts falling due after more than one
year

7

(66,692

)

(29,629

)

PROVISIONS FOR LIABILITIES (26,985 ) (10,390 )
NET ASSETS 121,527 120,093

CAPITAL AND RESERVES
Called up share capital 105 105
Retained earnings 121,422 119,988
SHAREHOLDERS' FUNDS 121,527 120,093

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Kingsley Hard Metals Limited (Registered number: 07264564)

Balance Sheet - continued
30 June 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 December 2024 and were signed on its behalf by:





J K Taylor - Director


Kingsley Hard Metals Limited (Registered number: 07264564)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Kingsley Hard Metals 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

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.

Kingsley Hard Metals Limited (Registered number: 07264564)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2023 126,759 134,756 9,170 270,685
Additions 456 86,431 1,201 88,088
At 30 June 2024 127,215 221,187 10,371 358,773
DEPRECIATION
At 1 July 2023 105,883 74,870 6,013 186,766
Charge for year 9,280 28,863 2,548 40,691
At 30 June 2024 115,163 103,733 8,561 227,457
NET BOOK VALUE
At 30 June 2024 12,052 117,454 1,810 131,316
At 30 June 2023 20,876 59,886 3,157 83,919

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 754,311 617,658
Other debtors 117,438 78,312
871,749 695,970

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 28,749 29,169
Hire purchase contracts 38,115 18,065
Trade creditors 557,828 273,557
Taxation and social security 86,745 94,478
Other creditors 592,989 960,292
1,304,426 1,375,561

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 10,725 20,714
Hire purchase contracts 55,967 8,915
66,692 29,629

Kingsley Hard Metals Limited (Registered number: 07264564)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank overdrafts 18,749 19,169
Hire purchase contracts 94,082 26,980
112,831 46,149

9. GUARANTEES AND OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the year end of £23,400 (2023: £23,400).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
K J Beck
Balance outstanding at start of year 15,000 -
Amounts advanced - 15,000
Amounts repaid (15,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 15,000

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J K Taylor.