REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2024 |
FOR |
KEN BURROWS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2024 |
FOR |
KEN BURROWS LIMITED |
KEN BURROWS LIMITED (REGISTERED NUMBER: 00789819) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JULY 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
KEN BURROWS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST JULY 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1st Floor |
49 High Street |
Hucknall |
Nottinghamshire |
NG15 7AW |
KEN BURROWS LIMITED (REGISTERED NUMBER: 00789819) |
ABRIDGED BALANCE SHEET |
31ST JULY 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
KEN BURROWS LIMITED (REGISTERED NUMBER: 00789819) |
ABRIDGED BALANCE SHEET - continued |
31ST JULY 2024 |
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 |
KEN BURROWS LIMITED (REGISTERED NUMBER: 00789819) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JULY 2024 |
1. | STATUTORY INFORMATION |
Ken Burrows Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stock is valued at the lower of cost and net realisable value. This includes all purchase, transport and handling costs in bringing stocks to their present location and condition. Making necessary allowances for obsolete or slow moving items. |
Cost is calculated using the first-in, first-out method & includes all purchase, transport and handling costs in bringing stocks to their present location & condition. |
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. |
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. |
KEN BURROWS LIMITED (REGISTERED NUMBER: 00789819) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Amounts recoverable on contracts |
Where the outcome of a contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date. The company uses the "percentage of completion method" to determine the appropriate amount to recognise in a given period. The assessment of the stage of completion is dependent on the nature of the contract, but will generally be based on the estimated proportion of the total contract costs which have been incurred to date. If a contract is expected to be loss-making, a provision is recognised immediately for the entire loss. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st August 2023 |
Additions |
Disposals | ( |
) |
At 31st July 2024 |
DEPRECIATION |
At 1st August 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31st July 2024 |
NET BOOK VALUE |
At 31st July 2024 |
At 31st July 2023 |
5. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
KEN BURROWS LIMITED (REGISTERED NUMBER: 00789819) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 2024 |
6. | SECURED DEBTS |
A fixed and floating charge was signed and lodged against all property and undertakings of the company to secure all liabilities to Barclays Security Trustee Limited. This includes an unlimited inter company composite guarantee between Ken Burrows Limited and AMPCO 122 Limited. |
7. | RELATED PARTY DISCLOSURES |
During the year the company borrowed money from a connected company, of which the director holds a participating interest. The loan is on an interest free basis, with the balance outstanding being repayable upon demand. The balance outstanding at the year end date was £298,364 (2023: £64,924) |
8. | ULTIMATE CONTROLLING PARTY |
The directors consider Mr. & Mrs. Jackson the ultimate controlling party due to their joint 60% equity share in AMPCO 122 Limited. |