Company registration number 04102252 (England and Wales)
Kelbec Civils Limited
financial statements
For the year ended 30 June 2024
Kelbec Civils Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 9
Kelbec Civils Limited
Statement of financial position
As at 30 June 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
-
0
1,318
Tangible assets
5
122,754
118,180
122,754
119,498
Current assets
Stocks
30,732
11,490
Debtors
6
526,338
630,168
Cash at bank and in hand
147,904
355,570
704,974
997,228
Creditors: amounts falling due within one year
7
(305,245)
(614,081)
Net current assets
399,729
383,147
Total assets less current liabilities
522,483
502,645
Creditors: amounts falling due after more than one year
8
(56,115)
(54,242)
Provisions for liabilities
(23,323)
(21,200)
Net assets
443,045
427,203
Capital and reserves
Called up share capital
99
99
Profit and loss reserves
442,946
427,104
Total equity
443,045
427,203

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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 6 March 2025 and are signed on its behalf by:
Mr L J Upcott
Director
Company registration number 04102252 (England and Wales)
Kelbec Civils Limited
Notes to the financial statements
For the year ended 30 June 2024
- 2 -
1
Accounting policies
Company information

Kelbec Civils Limited is a private company limited by shares incorporated in England and Wales. The registered office is Whiting Landscape Ltd, Wildmoor Lane, Wildmoor, Bromsgrove, England, B61 0RH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Since the year-end, the directors have made the decision that the company is to cease trading within the next 12 months and so is not considered to be a going concern.

The financial statements have been prepared on a basis other than that of going concern which includes, where appropriate, making provision for any year-end trade debtor balances that are not expected to be received after the balance sheet date.

The financial statements do not include any provision for the future costs of the closing of the business except to the extent that such costs were committed at the balance sheet date.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Contract turnover

Amounts recoverable on contracts are included in debtors and are valued, inclusive of profit, at work executed at contract prices plus variations. Any work invoiced in advance of the work being completed is recorded in creditors. Contracts are valued based on managements judgement and the profit margin that each individual contract is expected to attain.

 

Turnover and costs on contracts are recognised as activity progresses once the outcome can be assessed with reasonable certainty. Full provision is made for anticipated future losses. Where contract payments received exceed amounts recoverable, these amounts are included in creditors. Materials sold as part of a contract that are held off site and have been certified by a third party are included in turnover at cost.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Website costs
33.33% on cost
Kelbec Civils Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and equipment
33.33% on cost and 20% on cost
Fixtures and fittings
20% on cost
Computers
33.33% on cost
Motor vehicles
33.33% on cost and 20% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Kelbec Civils Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Kelbec Civils Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

 

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.15

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group entities where the relationship is one of being wholly owned.

Kelbec Civils Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
- 6 -
2
Judgements and key sources of estimation uncertainty

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 the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Valuations of contracts:

Management review each contract ongoing at the year end in order to obtain an accurate valuation of the work completed to date and therefore any profits or losses on contracts to recognise. Management recognise profits on contracts once the outcome can be measured with reasonable certainty. Management will review the level of work completed and the costs incurred on each individual contract at the year end and estimate the profit margin that the company expects to make on each contract. The contract valuation will be adjusted based on this, with any increases in valuations of contracts being recorded in debtors and any reductions in the valuations of contracts being recorded in creditors. Any anticipated future losses are provided for in full. Uncertainties in the valuation of individual contracts relate to the actual value of work completed on the contracts and therefore the actual profit expected to be made on each contract.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
5
6
Kelbec Civils Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
- 7 -
4
Intangible fixed assets
Website costs
£
Cost
At 1 July 2023 and 30 June 2024
3,950
Amortisation and impairment
At 1 July 2023
2,632
Amortisation charged for the year
1,318
At 30 June 2024
3,950
Carrying amount
At 30 June 2024
-
0
At 30 June 2023
1,318
5
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 July 2023
74,321
1,576
19,525
113,749
209,171
Additions
10,550
-
0
774
49,633
60,957
Disposals
(13,988)
-
0
-
0
(6,999)
(20,987)
At 30 June 2024
70,883
1,576
20,299
156,383
249,141
Depreciation and impairment
At 1 July 2023
21,920
1,576
17,983
49,512
90,991
Depreciation charged in the year
21,255
-
0
958
24,790
47,003
Eliminated in respect of disposals
(4,608)
-
0
-
0
(6,999)
(11,607)
At 30 June 2024
38,567
1,576
18,941
67,303
126,387
Carrying amount
At 30 June 2024
32,316
-
0
1,358
89,080
122,754
At 30 June 2023
52,401
-
0
1,542
64,237
118,180

Included within the total net book value of tangible assets is £95,670 (2023 - £55,648) in respect of assets held under hire purchase contracts.

Kelbec Civils Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
- 8 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
247,952
382,218
Amounts owed by group undertakings
186,533
58,521
Other debtors
91,853
189,429
526,338
630,168
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
-
0
129
Trade creditors
191,575
538,827
Corporation tax
5,024
1,317
Other taxation and social security
8,456
11,267
Other creditors
100,190
62,541
305,245
614,081
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
56,115
54,242
9
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
37,941
24,569
In two to five years
56,115
54,242
94,056
78,811

Obligations under finance leases and hire purchase contracts are secured on the assets to which they relate.

Kelbec Civils Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
- 9 -
10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Emphasis of matter

We draw attention to Note 1.2 to the financial statements, ‘Going concern’, which explains that the company is expected to cease trading within the next 12 months and therefore it is not considered appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in Note 1.2. Our opinion is not modified in respect of this matter.

Senior Statutory Auditor:
Nicola Johnson
Statutory Auditor:
DJH Audit Limited
Date of audit report:
14 March 2025
11
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
16,713
29,795
12
Events after the reporting date

After the year-end, but before the date of the approval of the financial statements, a decision was made to cease trading in Kelbec Civils Limited within the next 12 months.

The company has given notice on existing customer contracts and employees have been informed of the decision. As a result, the company is no longer considered to be a going concern.

Appropriate disclosure about the status of the company as a going concern has been made in Note 1.2.

13
Parent company

The ultimate parent company is Whiting Holdings Limited which owns 100% of the ordinary share capital. Whiting Holdings Limited is incorporated in England.

 

Copies of the group accounts of Whiting Holdings Limited are available from Whiting Landscape Ltd, Wilmoor Lane, Wildmoor, Bromsgrove, United Kingdom, B61 0RH.

There is no ultimate controlling party.

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