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Registration number: 02491514

K K Machine Hire Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

K K Machine Hire Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

K K Machine Hire Limited

Company Information

Directors

J Lawton

W Shepherd

Registered office

Victory House
Victory Park Road
Addlestone
Surrey
KT15 2AX

Accountants

Addicus Plus Limited
Chartered Certified Accountants4 The Axium Centre Dorchester Road
Lytchett Minster
Poole
Dorset
BH16 6FE

 

K K Machine Hire Limited

(Registration number: 02491514)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

416,803

408,459

Current assets

 

Debtors

5

610,786

820,669

Cash at bank and in hand

 

92,083

95,547

 

702,869

916,216

Creditors: Amounts falling due within one year

6

(137,072)

(369,213)

Net current assets

 

565,797

547,003

Net assets

 

982,600

955,462

Capital and reserves

 

Called up share capital

2

2

Retained earnings

982,598

955,460

Shareholders' funds

 

982,600

955,462

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

K K Machine Hire Limited

(Registration number: 02491514)
Balance Sheet as at 30 April 2024

Directors' 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 directors acknowledge their 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 January 2025 and signed on its behalf by:
 

J Lawton
Director

   
     
 

K K Machine Hire Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Victory House
Victory Park Road
Addlestone
Surrey
KT15 2AX

These financial statements were authorised for issue by the Board on 24 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.

Revenue recognition

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 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 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.

 

K K Machine Hire Limited

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

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.

Tangible assets

Tangible assets are stated in the balance sheet 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 and machinery

20% on cost / 25% on 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 merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment 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.

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.

 

K K Machine Hire Limited

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

3

Staff numbers

The average number of persons employed by the company during the year was 0 (2023 - 0).

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

1,679,747

1,679,747

Additions

195,450

195,450

Disposals

(231,506)

(231,506)

At 30 April 2024

1,643,691

1,643,691

Depreciation

At 1 May 2023

1,271,288

1,271,288

Charge for the year

138,948

138,948

Eliminated on disposal

(183,348)

(183,348)

At 30 April 2024

1,226,888

1,226,888

Carrying amount

At 30 April 2024

416,803

416,803

At 30 April 2023

408,459

408,459

5

Debtors

Note

2024
£

2023
£

Trade debtors

 

29,290

39,490

Other debtors

 

575,244

781,179

Income tax asset

6,252

-

 

610,786

820,669

 

K K Machine Hire Limited

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

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

105,276

266,535

Taxation and social security

604

69,314

Accruals and deferred income

31,106

33,278

Other creditors

86

86

137,072

369,213

7

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

J Lawton

Directors loan account

326,329

77,969

(56,569)

347,729

W Shepherd

Directors loan account

39,925

901

(40,826)

-

2023

At 1 May 2022
£

Advances to director
£

At 30 April 2023
£

J Lawton

Directors loan account

139,337

186,992

326,329

W Shepherd

Directors loan account

-

39,925

39,925