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Registration number: 00691409

Joseph Kimberley & Sons Limited

Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Joseph Kimberley & Sons Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Joseph Kimberley & Sons Limited

(Registration number: 00691409)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

415

461

Tangible assets

5

151,923

146,334

 

152,338

146,795

Current assets

 

Stocks

6

2,050

2,000

Debtors

7

45,764

54,970

Cash at bank and in hand

 

19,498

51,063

 

67,312

108,033

Creditors: Amounts falling due within one year

8

(65,836)

(62,651)

Net current assets

 

1,476

45,382

Total assets less current liabilities

 

153,814

192,177

Creditors: Amounts falling due after more than one year

8

(165,077)

(209,781)

Net liabilities

 

(11,263)

(17,604)

Capital and reserves

 

Called up share capital

10,100

10,100

Share premium reserve

24,900

24,900

Other reserves

82,415

114,770

Retained earnings

(128,678)

(167,374)

Shareholders' deficit

 

(11,263)

(17,604)

 

Joseph Kimberley & Sons Limited

(Registration number: 00691409)
Balance Sheet as at 30 April 2024

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.

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 28 January 2025 and signed on its behalf by:
 

.........................................
Mr K Kimberley
Director

 

Joseph Kimberley & Sons 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:
Chatterley Quarry
Off Chemical Lane
Longport
Stoke-On-Trent
Staffs
ST6 4PB

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.

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

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by the directors. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.

 

Joseph Kimberley & Sons Limited

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

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities, that being marl extraction, hauliers and hiring of skips. 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.

Government grants

Government grants are recognised using the accrual model. Grants which relate to revenue shall be recognised in other operating income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.

Any amounts outstanding at the year end will be included within other debtors.

Tax

The current 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

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 less estimated residual value, other than land and properties under construction over their estimated useful lives, as follows:

 

Joseph Kimberley & Sons Limited

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

Asset class

Depreciation method and rate

Site development

4% reducing balance

Leasehold property improvements

10% reducing balance

Plant and machinery

10% straight line

Office equipment

33% straight line

Skip wagons and lorries

10% straight line

Intangible assets

Intangible assets acquired separately from the business are capitalised at cost.
Provision is made for any impairment.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Mining rights

10% reducing balance

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.

 

Joseph Kimberley & Sons Limited

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

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

4

Intangible assets

Mining rights
 £

Total
£

Cost or valuation

At 1 May 2023

13,179

13,179

At 30 April 2024

13,179

13,179

Amortisation

At 1 May 2023

12,718

12,718

Amortisation charge

46

46

At 30 April 2024

12,764

12,764

Carrying amount

At 30 April 2024

415

415

At 30 April 2023

461

461

 

Joseph Kimberley & Sons Limited

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

5

Tangible assets

Land and buildings
£

Office equipment
 £

Skip wagons and lorries
 £

Leasehold property improvements
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

74,216

1,643

15,000

7,600

172,327

270,786

Additions

-

-

-

-

20,000

20,000

At 30 April 2024

74,216

1,643

15,000

7,600

192,327

290,786

Depreciation

At 1 May 2023

50,095

1,513

-

7,159

64,930

123,697

Charge for the year

1,062

130

1,500

44

12,430

15,166

At 30 April 2024

51,157

1,643

1,500

7,203

77,360

138,863

Carrying amount

At 30 April 2024

23,059

-

13,500

397

114,967

151,923

At 30 April 2023

23,236

260

15,000

441

107,397

146,334

 

Joseph Kimberley & Sons Limited

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

6

Stocks

2024
£

2023
£

Stock

2,050

2,000

7

Debtors

Current

2024
£

2023
£

Trade debtors

44,438

52,135

Other debtors

1,326

2,835

 

45,764

54,970

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Loans and borrowings

10,000

10,000

Trade creditors

32,984

29,387

Taxation and social security

1,149

1,032

Accruals and deferred income

4,697

4,858

Other creditors

17,006

17,374

65,836

62,651

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Loans and borrowings

15,833

25,833

Other non-current financial liabilities

149,244

183,948

165,077

209,781