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KEM-SERV LTD.

Registered Number
02817065
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

KEM-SERV LTD.
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

LISTER, Simon

Registered Address

57a South Nelson Industrial
Estate
Cramlington
NE23 1WF

Registered Number

02817065 (England and Wales)
KEM-SERV LTD.
Statement of Financial Position
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets32,0832,451
2,0832,451
Current assets
Stocks442,56471,369
Debtors5157,549125,609
Cash at bank and on hand44,48649,477
244,599246,455
Creditors amounts falling due within one year6(173,694)(165,029)
Net current assets (liabilities)70,90581,426
Total assets less current liabilities72,98883,877
Provisions for liabilities7(286)(256)
Net assets72,70283,621
Capital and reserves
Called up share capital2,0002,000
Profit and loss account70,70281,621
Shareholders' funds72,70283,621
The financial statements were approved and authorised for issue by the Director on 18 February 2025, and are signed on its behalf by:
LISTER, Simon
Director
Registered Company No. 02817065
KEM-SERV LTD.
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. As part of a small group, this company is exempt from producing group accounts. These accounts are for this company alone. This company is a wholly owned subsidiary of its parent undertaking Kem-Serv (Holdings) Limited, a registered company registered in England and Wales, company number 13887838.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods.. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Stocks are valued lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year44
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 June 2324,34924,349
At 31 May 2424,34924,349
Depreciation and impairment
At 01 June 2321,89821,898
Charge for year368368
At 31 May 2422,26622,266
Net book value
At 31 May 242,0832,083
At 31 May 232,4512,451
4.Stocks

2024

2023

££
Raw materials and consumables42,56471,369
Total42,56471,369
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables146,319113,144
Other debtors-143
Prepayments and accrued income11,23012,322
Total157,549125,609
The Company has entered into a factoring agreement. At 31 May 2024 £127,376 (31 May 2023 £88,225) was included in debtors in respect of amounts assigned to the Factor. Included in creditors is a loan from the Factor which is repayable out of the proceeds of factored debts.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables52,38340,345
Taxation and social security25,44932,606
Other creditors90,47685,467
Accrued liabilities and deferred income5,3866,611
Total173,694165,029
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)286256
Total286256