IRIS Accounts Production v24.3.2.46 01494685 Board of Directors 1.6.23 31.5.24 31.5.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh014946852023-05-31014946852024-05-31014946852023-06-012024-05-31014946852022-05-31014946852022-06-012023-05-31014946852023-05-3101494685ns15:EnglandWales2023-06-012024-05-3101494685ns14:PoundSterling2023-06-012024-05-3101494685ns10:Director12023-06-012024-05-3101494685ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3101494685ns10:SmallEntities2023-06-012024-05-3101494685ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3101494685ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3101494685ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3101494685ns10:FullAccounts2023-06-012024-05-3101494685ns10:Director22023-06-012024-05-3101494685ns10:CompanySecretary12023-06-012024-05-3101494685ns10:RegisteredOffice2023-06-012024-05-3101494685ns5:CurrentFinancialInstruments2024-05-3101494685ns5:CurrentFinancialInstruments2023-05-3101494685ns5:Non-currentFinancialInstruments2024-05-3101494685ns5:Non-currentFinancialInstruments2023-05-3101494685ns5:ShareCapital2024-05-3101494685ns5:ShareCapital2023-05-3101494685ns5:RevaluationReserve2024-05-3101494685ns5:RevaluationReserve2023-05-3101494685ns5:RetainedEarningsAccumulatedLosses2024-05-3101494685ns5:LandBuildings2023-05-3101494685ns5:PlantMachinery2023-05-3101494685ns5:LandBuildings2023-06-012024-05-3101494685ns5:PlantMachinery2023-06-012024-05-3101494685ns5:LandBuildings2024-05-3101494685ns5:PlantMachinery2024-05-3101494685ns5:LandBuildings2023-05-3101494685ns5:PlantMachinery2023-05-3101494685ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3101494685ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3101494685ns5:RevaluationReserve2023-05-31
REGISTERED NUMBER: 01494685 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

KEMP'S STAINLESS FASTENERS LIMITED

KEMP'S STAINLESS FASTENERS LIMITED (REGISTERED NUMBER: 01494685)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KEMP'S STAINLESS FASTENERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mr P R Kemp
Mrs S L Kemp



SECRETARY: Mrs S L Kemp



REGISTERED OFFICE: 22 Broad Street
Wokingham
Berkshire
RG11 1BA



REGISTERED NUMBER: 01494685 (England and Wales)



ACCOUNTANTS: Ford Bentall LLP
Chartered Certified Accountants
60 High Street
Chobham
Surrey
GU24 8AA



BANKERS: Lloyds Bank Plc
Bracknell Branch
PO Box 1000
BX1 1LT

KEMP'S STAINLESS FASTENERS LIMITED (REGISTERED NUMBER: 01494685)

BALANCE SHEET
31 MAY 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 607,682 494,315

CURRENT ASSETS
Stocks 412,501 424,001
Debtors 5 61,269 63,747
Cash at bank 10,595 10,147
484,365 497,895
CREDITORS
Amounts falling due within one year 6 162,499 164,195
NET CURRENT ASSETS 321,866 333,700
TOTAL ASSETS LESS CURRENT
LIABILITIES

929,548

828,015

CREDITORS
Amounts falling due after more than one
year

7

(5,000

)

(10,000

)

PROVISIONS FOR LIABILITIES (99,543 ) (51,903 )
NET ASSETS 825,005 766,112

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 8 445,753 368,393
Retained earnings 378,252 396,719
825,005 766,112

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

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.

KEMP'S STAINLESS FASTENERS LIMITED (REGISTERED NUMBER: 01494685)

BALANCE SHEET - continued
31 MAY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 19 February 2025 and were signed on its behalf by:





Mr P R Kemp - Director


KEMP'S STAINLESS FASTENERS LIMITED (REGISTERED NUMBER: 01494685)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Kemp's Stainless Fasteners Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Cost
Property. plant and machinery are recorded at historical cost or deemed cost, less accumulated depreciation and impairment losses.
Freehold premises are stated at cost ( or deemed cost for freehold premises held at valuation at the date of transition to FRS 102) less accumulated depreciation.
The company has adopted the transition exemption under FRS 102 paragraph 35.10(d) and has elected to use the previous revaluation as deemed cost.
The difference between depreciation based on the deemed cost charged in the profit and loss account and the asset's original cost is transferred from revaluation reserve to retained earnings.
Equipment and fixtures and fittings are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

KEMP'S STAINLESS FASTENERS LIMITED (REGISTERED NUMBER: 01494685)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 June 2023 525,000 59,148 584,148
Revaluations 125,000 - 125,000
At 31 May 2024 650,000 59,148 709,148
DEPRECIATION
At 1 June 2023 30,685 59,148 89,833
Charge for year 11,633 - 11,633
At 31 May 2024 42,318 59,148 101,466
NET BOOK VALUE
At 31 May 2024 607,682 - 607,682
At 31 May 2023 494,315 - 494,315

Cost or valuation at 31 May 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2015 303,758 - 303,758
Valuation in 2016 116,538 - 116,538
Valuation in 2024 125,000 - 125,000
Cost 104,704 59,148 163,852
650,000 59,148 709,148

KEMP'S STAINLESS FASTENERS LIMITED (REGISTERED NUMBER: 01494685)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


4. TANGIBLE FIXED ASSETS - continued

If Freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
as restated
£    £   
Cost 104,704 -
Aggregate depreciation 42,318 -

Value of land in freehold land and buildings 62,386 -

Freehold land and buildings were valued on an open market value basis on 31 May 2024 by Mr P Kemp- Company Director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 59,821 62,806
Other debtors 1,448 941
61,269 63,747

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Bank loans and overdrafts 5,000 5,000
Trade creditors 147,779 147,731
Taxation and social security 4,067 4,228
Other creditors 5,653 7,236
162,499 164,195

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
as restated
£    £   
Bank loans 5,000 10,000

KEMP'S STAINLESS FASTENERS LIMITED (REGISTERED NUMBER: 01494685)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


8. RESERVES
Revaluation
reserve
£   
At 1 June 2023 368,393
Revaluation during the year 125,000
Movement in deferred tax
provision on property (47,640 )

At 31 May 2024 445,753