Kingston Thermal Limited 04501859 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is Thermal installation Digita Accounts Production Advanced 6.30.9574.0 true 04501859 2023-07-01 2024-06-30 04501859 2024-06-30 04501859 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-06-30 04501859 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-06-30 04501859 core:CurrentFinancialInstruments 2024-06-30 04501859 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 04501859 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 04501859 core:MotorVehicles 2024-06-30 04501859 core:OfficeEquipment 2024-06-30 04501859 core:PlantMachinery 2024-06-30 04501859 bus:SmallEntities 2023-07-01 2024-06-30 04501859 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 04501859 bus:FilletedAccounts 2023-07-01 2024-06-30 04501859 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 04501859 bus:RegisteredOffice 2023-07-01 2024-06-30 04501859 bus:Director2 2023-07-01 2024-06-30 04501859 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04501859 core:MotorVehicles 2023-07-01 2024-06-30 04501859 core:OfficeEquipment 2023-07-01 2024-06-30 04501859 core:PlantMachinery 2023-07-01 2024-06-30 04501859 core:ParentEntities 2023-07-01 2024-06-30 04501859 countries:EnglandWales 2023-07-01 2024-06-30 04501859 2023-06-30 04501859 core:MotorVehicles 2023-06-30 04501859 core:OfficeEquipment 2023-06-30 04501859 core:PlantMachinery 2023-06-30 04501859 2022-07-01 2023-06-30 04501859 2023-06-30 04501859 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-06-30 04501859 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-06-30 04501859 core:CurrentFinancialInstruments 2023-06-30 04501859 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 04501859 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 04501859 core:MotorVehicles 2023-06-30 04501859 core:OfficeEquipment 2023-06-30 04501859 core:PlantMachinery 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 04501859

Kingston Thermal Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Kingston Thermal Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Kingston Thermal Limited

Company Information

Director

J P Bassett

Registered office

Unit 2, Hermosa House
Freightliner Road
Brighton Street Industrial Estate
Hull
HU3 4UW

 

Kingston Thermal Limited

(Registration number: 04501859)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

135,238

135,665

Current assets

 

Stocks

5

1,200

5,700

Debtors

6

242,696

239,210

Cash at bank and in hand

 

65,143

32,066

 

309,039

276,976

Creditors: Amounts falling due within one year

7

(166,390)

(174,809)

Net current assets

 

142,649

102,167

Total assets less current liabilities

 

277,887

237,832

Creditors: Amounts falling due after more than one year

7

(39,158)

(44,461)

Provisions for liabilities

(33,809)

(27,811)

Net assets

 

204,920

165,560

Capital and reserves

 

Called up share capital

132

132

Capital redemption reserve

66

66

Retained earnings

204,722

165,362

Shareholders' funds

 

204,920

165,560

For the financial year ending 30 June 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 members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 January 2025
 

.........................................
J P Bassett
Director

 

Kingston Thermal Limited

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

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 04501859.

The address of its registered office is:
Unit 2, Hermosa House
Freightliner Road
Brighton Street Industrial Estate
Hull
HU3 4UW
England

These financial statements were authorised for issue by the director on 14 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of insulation services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Kingston Thermal Limited

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

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

25% straight line

Office equipment

33% straight line

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services provided in the ordinary course of business.

Trade debtors are recognised initially at the transaction price less any bad debts. A provision for the bad debts of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Kingston Thermal Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Kingston Thermal Limited

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

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 10 (2023 - 9).

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

4,475

13,558

170,408

188,441

Additions

-

2,389

42,999

45,388

Disposals

-

-

(39,095)

(39,095)

At 30 June 2024

4,475

15,947

174,312

194,734

Depreciation

At 1 July 2023

4,400

12,448

35,928

52,776

Charge for the year

75

1,223

34,238

35,536

Eliminated on disposal

-

-

(28,816)

(28,816)

At 30 June 2024

4,475

13,671

41,350

59,496

Carrying amount

At 30 June 2024

-

2,276

132,962

135,238

At 30 June 2023

75

1,110

134,480

135,665

5

Stocks

2024
£

2023
£

Other inventories

1,200

5,700

6

Debtors

2024
£

2023
£

Trade debtors

164,272

175,394

Prepayments

3,617

3,978

Other debtors

74,807

59,838

242,696

239,210

 

Kingston Thermal Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

30,629

23,320

Trade creditors

 

68,608

110,964

Taxation and social security

 

41,595

31,831

Accruals and deferred income

 

22,684

4,664

Other creditors

 

2,874

4,030

 

166,390

174,809

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

39,158

44,461

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Obligations under hire purchase and finance lease agreements

30,625

23,301

Other borrowings

4

19

30,629

23,320

2024
£

2023
£

Non-current loans and borrowings

Obligations under hire purchase and finance lease agreements

39,158

44,461

The obligations under finance lease and hire purchase contracts are secured on the assets they relate to. Other borrowings incude unsecured amounts due to Directors.

 

Kingston Thermal Limited

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

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £7,698 (2023 - £9,831). The amount relates to operating leases for office equipment.

10

Related party transactions

Other transactions with the Director

At the year end the company owed the director £4 (2023: £19). Loans made by the director to the company are unsecured, interest free and repayable on demand.

Summary of transactions with parent

The company's immediate parent is Kingston Thermal Holdings Limited, copies of the financial statements are available from Kingston Thermal Holdings Limited registered office; Unit 2, Hermosa House Freightliner Road, Brighton Street Industrial Estate, Hull, England, HU3 4UW.

The company has taken advantage of the exemptions available in FRS102 Section 1a from disclosing transactions that are part of the Kingston Thermal Holdings Limited group and relate to wholly owned subsidiaries.