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REGISTERED NUMBER: 09636640 (England and Wales)


























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

ADVANCED KFS SPECIAL VEHICLES LIMITED

ADVANCED KFS SPECIAL VEHICLES LIMITED (REGISTERED NUMBER: 09636640)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ADVANCED KFS SPECIAL VEHICLES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mr I J Knight
Mrs L E Knight
Mr A R Hawkyard





REGISTERED OFFICE: Fleming Court
Leigh Road
Eastleigh
Hampshire
SO50 9PD





BUSINESS ADDRESS: Unit S Hunting Gate
Portway Industrial Estate
Andover
Hampshire
SP10 3SJ





REGISTERED NUMBER: 09636640 (England and Wales)






ADVANCED KFS SPECIAL VEHICLES LIMITED (REGISTERED NUMBER: 09636640)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 158,446 264,074
Tangible assets 6 216,461 255,368
Investments 7 1,403 1,403
376,310 520,845

CURRENT ASSETS
Stocks 500,946 589,948
Debtors 8 2,564,966 2,737,319
Cash at bank and in hand 291,213 123,510
3,357,125 3,450,777
CREDITORS
Amounts falling due within one year 9 2,253,719 2,721,420
NET CURRENT ASSETS 1,103,406 729,357
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,479,716

1,250,202

CREDITORS
Amounts falling due after more than one
year

10

(28,010

)

(124,017

)

PROVISIONS FOR LIABILITIES (47,600 ) (58,456 )
NET ASSETS 1,404,106 1,067,729

CAPITAL AND RESERVES
Called up share capital 12 977 977
Capital redemption reserve 26 26
Retained earnings 1,403,103 1,066,726
SHAREHOLDERS' FUNDS 1,404,106 1,067,729

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

ADVANCED KFS SPECIAL VEHICLES LIMITED (REGISTERED NUMBER: 09636640)

BALANCE SHEET - continued
30 JUNE 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 18 March 2025 and were signed on its behalf by:




Mr I J Knight - Director Mrs L E Knight - Director




Mr A R Hawkyard - Director


ADVANCED KFS SPECIAL VEHICLES LIMITED (REGISTERED NUMBER: 09636640)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Advanced KFS Special Vehicles 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Advanced KFS Special Vehicles Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of two companies in 2015 and the hive up of the trade and assets in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% straight line
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer and office equipment - 25% on reducing balance

All fixed assets are initially recorded at cost.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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


ADVANCED KFS SPECIAL VEHICLES LIMITED (REGISTERED NUMBER: 09636640)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


3. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company contributes to a defined contribution pension scheme. Contributions payable to the pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Income Statement in administrative expenses.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2023 - 42 ) .

ADVANCED KFS SPECIAL VEHICLES LIMITED (REGISTERED NUMBER: 09636640)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 1,056,284
AMORTISATION
At 1 July 2023 792,210
Amortisation for year 105,628
At 30 June 2024 897,838
NET BOOK VALUE
At 30 June 2024 158,446
At 30 June 2023 264,074

During 2017, the trade and assets of the subsidiary companies, KFS Special Vehicles Limited and Advanced Minibus Limited, were hived up into the parent company, Advanced KFS Special Vehicles Limited. As part of the hive up, £1,056,284 was transferred from fixed asset investments to intangible asset goodwill. This goodwill is being amortised evenly overs its estimated useful life of 10 years, starting from the original date of acquisition of the subsidiary companies.

6. TANGIBLE FIXED ASSETS
Computer
and
Short Plant and Motor office
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 43,700 194,672 188,909 89,920 517,201
Additions 64,963 14,642 - 12,823 92,428
Disposals - (47,639 ) (97,741 ) (29,421 ) (174,801 )
At 30 June 2024 108,663 161,675 91,168 73,322 434,828
DEPRECIATION
At 1 July 2023 22,156 121,449 56,555 61,673 261,833
Charge for year 10,215 20,489 22,816 8,496 62,016
Eliminated on disposal - (41,773 ) (37,699 ) (26,010 ) (105,482 )
At 30 June 2024 32,371 100,165 41,672 44,159 218,367
NET BOOK VALUE
At 30 June 2024 76,292 61,510 49,496 29,163 216,461
At 30 June 2023 21,544 73,223 132,354 28,247 255,368

ADVANCED KFS SPECIAL VEHICLES LIMITED (REGISTERED NUMBER: 09636640)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


7. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 1,403
NET BOOK VALUE
At 30 June 2024 1,403
At 30 June 2023 1,403

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,009,225 1,267,384
Amounts owed by group undertakings 705,376 683,588
Other debtors 850,365 786,347
2,564,966 2,737,319

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 30,002 30,000
Hire purchase contracts 5,715 32,829
Trade creditors 893,818 1,355,867
Amounts owed to group undertakings 38,612 82,723
Taxation and social security 584,282 273,136
Other creditors 701,290 946,865
2,253,719 2,721,420

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 27,500 57,500
Hire purchase contracts 510 66,517
28,010 124,017

ADVANCED KFS SPECIAL VEHICLES LIMITED (REGISTERED NUMBER: 09636640)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 57,500 87,500
Other loans - 1,750
Hire purchase contracts 6,225 99,346
63,725 188,596

Hire purchase contracts are secured over the assets acquired under the agreements.

Bank loans are secured by way of a Debenture.

Bank loans include £57,500 (2023: £87,500) borrowed under the Coronavirus Business Interruption Loan Scheme. The UK Government has provided the lender with a partial guarantee on the capital of the loan.

Other loans are personally secured by one of the directors, Ian Knight.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
97,500 Ordinary A £0.01 975 975
208 Ordinary B £0.01 2 2
977 977

13. OTHER FINANCIAL COMMITMENTS

The company has future financial commitments under operating leases which are not included in the balance sheet to the sum of £242,155 (2023: £330,816). These are payable over the next 2 (2023:3) years.

The company has given cross guarantees to banks and other financial institutions for other group companies' debts. At the year end, the value of the other group companies' debts that were guaranteed was £269,779 (2023: £455,191).

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 30 June 2024 and the period ended 30 June 2023:

2024 2023
£    £   
Mr I J Knight and Mrs L E Knight
Balance outstanding at start of year 111,440 -
Amounts advanced 527,341 111,440
Amounts repaid (440,873 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 197,908 111,440

The loan is unsecured with repayment date unspecified. Interest is charged at HM Revenue & Customs approved rates.

ADVANCED KFS SPECIAL VEHICLES LIMITED (REGISTERED NUMBER: 09636640)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


15. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group companies where any subsidiary that is a party to the transaction is wholly owned within the group or where transactions have been undertaken under normal market conditions.