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REGISTERED NUMBER: 04728955 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 June 2024

for

K2 Aluminium Systems Limited

K2 Aluminium Systems Limited (Registered number: 04728955)






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


K2 Aluminium Systems Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: G Butler
P M Tannock





REGISTERED OFFICE: 2 Sovereign Way
Maritime Business Park
Birkenhead
Wirral
CH41 1DL





REGISTERED NUMBER: 04728955 (England and Wales)





ACCOUNTANTS: Graham & Fisher Limited
T/A Grahams
Chartered Accountants
30 Birkenhead Road
Hoylake
Wirral
CH47 3BW

K2 Aluminium Systems Limited (Registered number: 04728955)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 388,681 400,945

CURRENT ASSETS
Stocks 194,340 378,212
Debtors 5 192,802 156,607
Cash at bank and in hand 670,661 336,074
1,057,803 870,893
CREDITORS
Amounts falling due within one year 6 774,404 664,702
NET CURRENT ASSETS 283,399 206,191
TOTAL ASSETS LESS CURRENT
LIABILITIES

672,080

607,136

CREDITORS
Amounts falling due after more than one year 7 (72,052 ) (108,542 )

PROVISIONS FOR LIABILITIES (17,247 ) (23,210 )
NET ASSETS 582,781 475,384

CAPITAL AND RESERVES
Called up share capital 110 110
Retained earnings 582,671 475,274
SHAREHOLDERS' FUNDS 582,781 475,384

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.

K2 Aluminium Systems Limited (Registered number: 04728955)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 January 2025 and were signed on its behalf by:





G Butler - Director


K2 Aluminium Systems Limited (Registered number: 04728955)

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

1. STATUTORY INFORMATION

K2 Aluminium Systems 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost, 25% on reducing balance, 20% on reducing balance and 10% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Financial instruments
Creditors due after one year is a mortgage secured on the property and a hire purchase loan for plant & machinery. Interest is charged to the profit & loss account as it is incurred.

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.


K2 Aluminium Systems Limited (Registered number: 04728955)

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

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 30 ) .

K2 Aluminium Systems Limited (Registered number: 04728955)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 302,251 605,135 907,386
Additions - 48,904 48,904
Disposals - (86,800 ) (86,800 )
At 30 June 2024 302,251 567,239 869,490
DEPRECIATION
At 1 July 2023 72,540 433,901 506,441
Charge for year 6,045 55,123 61,168
Eliminated on disposal - (86,800 ) (86,800 )
At 30 June 2024 78,585 402,224 480,809
NET BOOK VALUE
At 30 June 2024 223,666 165,015 388,681
At 30 June 2023 229,711 171,234 400,945

The Freehold Property has been depreciated at a rate of 1% on a straight line basis. Valuers have confirmed that due to the nature of the property it is impossible to value the land separately from the buildings. As such, the directors feel that this rate is prudent when they are taken together as a whole.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2023 26,295
Additions 24,000
At 30 June 2024 50,295
DEPRECIATION
At 1 July 2023 6,574
Charge for year 10,930
At 30 June 2024 17,504
NET BOOK VALUE
At 30 June 2024 32,791
At 30 June 2023 19,721

K2 Aluminium Systems Limited (Registered number: 04728955)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 66,025 42,326
Other debtors 126,777 114,281
192,802 156,607

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 30,000 30,000
Hire purchase contracts 25,026 18,896
Trade creditors 398,917 471,639
Taxation and social security 178,721 83,038
Other creditors 141,740 61,129
774,404 664,702

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 32,500 62,500
Hire purchase contracts 39,552 46,042
72,052 108,542

Amounts falling due in more than five years:

Repayable by instalments
Hire purchase 4,330 12,496

8. CAPITAL COMMITMENTS
30.6.24 30.6.23
£    £   
Contracted but not provided for in the
financial statements 2,624 2,624

9. RELATED PARTY DISCLOSURES

Mr G Butler & Mr P Tannock are also directors and shareholders in K2 Trade Windows & Doors Ltd and during the year K2 Aluminium Systems Ltd purchased goods from this company totalling £42,500 (2023 - £Nil) and sold goods to this company totalling £Nil (2023 - £Nil). The amount due to this company is £74,071 and is included in other creditors.