IRIS Accounts Production v24.3.2.46 06987741 Board of Directors Board of Directors 1.11.23 31.10.24 31.10.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh069877412023-10-31069877412024-10-31069877412023-11-012024-10-31069877412022-10-31069877412022-11-012023-10-31069877412023-10-3106987741ns15:EnglandWales2023-11-012024-10-3106987741ns14:PoundSterling2023-11-012024-10-3106987741ns10:Director12023-11-012024-10-3106987741ns10:Director22023-11-012024-10-3106987741ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3106987741ns10:SmallEntities2023-11-012024-10-3106987741ns10:AuditExempt-NoAccountantsReport2023-11-012024-10-3106987741ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-3106987741ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-3106987741ns10:FullAccounts2023-11-012024-10-310698774112023-11-012024-10-3106987741ns10:CompanySecretary12023-11-012024-10-3106987741ns10:RegisteredOffice2023-11-012024-10-3106987741ns5:CurrentFinancialInstruments2024-10-3106987741ns5:CurrentFinancialInstruments2023-10-3106987741ns5:Non-currentFinancialInstruments2024-10-3106987741ns5:Non-currentFinancialInstruments2023-10-3106987741ns5:ShareCapital2024-10-3106987741ns5:ShareCapital2023-10-3106987741ns5:CapitalRedemptionReserve2024-10-3106987741ns5:CapitalRedemptionReserve2023-10-3106987741ns5:RetainedEarningsAccumulatedLosses2024-10-3106987741ns5:RetainedEarningsAccumulatedLosses2023-10-3106987741ns5:NetGoodwill2023-11-012024-10-3106987741ns5:IntangibleAssetsOtherThanGoodwill2023-11-012024-10-3106987741ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-11-012024-10-3106987741ns5:PlantMachinery2023-11-012024-10-3106987741ns5:MotorVehicles2023-11-012024-10-3106987741ns5:NetGoodwill2023-10-3106987741ns5:NetGoodwill2024-10-3106987741ns5:NetGoodwill2023-10-3106987741ns5:LandBuildings2023-10-3106987741ns5:PlantMachinery2023-10-3106987741ns5:MotorVehicles2023-10-3106987741ns5:LandBuildings2023-11-012024-10-3106987741ns5:LandBuildings2024-10-3106987741ns5:PlantMachinery2024-10-3106987741ns5:MotorVehicles2024-10-3106987741ns5:LandBuildings2023-10-3106987741ns5:PlantMachinery2023-10-3106987741ns5:MotorVehicles2023-10-3106987741ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-10-3106987741ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-11-012024-10-3106987741ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-10-3106987741ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-10-3106987741ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-10-3106987741ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-31
REGISTERED NUMBER: 06987741 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st October 2024

for

KL Venning Slaters Ltd

KL Venning Slaters Ltd (Registered number: 06987741)






Contents of the Financial Statements
for the Year Ended 31st October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KL Venning Slaters Ltd

Company Information
for the Year Ended 31st October 2024







DIRECTORS: Mrs L C Elliott
M Elliott





SECRETARY:





REGISTERED OFFICE: The Yard
Raisbeck
Orton
Penrith
Cumbria
CA10 3SG





REGISTERED NUMBER: 06987741 (England and Wales)





ACCOUNTANTS: Noble Accountants ltd
Tarn Villa
Culgaith
Penrith
Cumbria
CA10 1QL

KL Venning Slaters Ltd (Registered number: 06987741)

Balance Sheet
31st October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 241,444 252,444
241,445 252,445

CURRENT ASSETS
Stocks 36,706 27,137
Debtors 6 806,441 729,320
Cash at bank 419,581 530,820
1,262,728 1,287,277
CREDITORS
Amounts falling due within one year 7 381,105 456,761
NET CURRENT ASSETS 881,623 830,516
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,123,068

1,082,961

CREDITORS
Amounts falling due after more than one
year

8

-

(5,178

)

PROVISIONS FOR LIABILITIES (26,496 ) (28,870 )
NET ASSETS 1,096,572 1,048,913

CAPITAL AND RESERVES
Called up share capital 200 200
Capital redemption reserve 100 100
Retained earnings 1,096,272 1,048,613
SHAREHOLDERS' FUNDS 1,096,572 1,048,913

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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.

KL Venning Slaters Ltd (Registered number: 06987741)

Balance Sheet - continued
31st October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3rd March 2025 and were signed on its behalf by:




Mrs L C Elliott - Director



M Elliott - Director


KL Venning Slaters Ltd (Registered number: 06987741)

Notes to the Financial Statements
for the Year Ended 31st October 2024

1. STATUTORY INFORMATION

KL Venning Slaters Ltd 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.

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

Goodwill
Goodwill of £1 was purchased from KR Venning Slaters Ltd at cost on 31st October 2009.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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 Statement of Income and Retained Earnings, 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.

KL Venning Slaters Ltd (Registered number: 06987741)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2024

2. ACCOUNTING POLICIES - continued

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2023 - 41 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st November 2023
and 31st October 2024 1
NET BOOK VALUE
At 31st October 2024 1
At 31st October 2023 1

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1st November 2023 150,512 51,905 212,078 414,495
Additions - 5,105 22,100 27,205
Disposals - - (7,690 ) (7,690 )
At 31st October 2024 150,512 57,010 226,488 434,010
DEPRECIATION
At 1st November 2023 13,546 42,480 106,025 162,051
Charge for year 1,505 3,632 31,699 36,836
Eliminated on disposal - - (6,321 ) (6,321 )
At 31st October 2024 15,051 46,112 131,403 192,566
NET BOOK VALUE
At 31st October 2024 135,461 10,898 95,085 241,444
At 31st October 2023 136,966 9,425 106,053 252,444

Included in cost of land and buildings is freehold land of £ 75,256 (2023 - £ 75,256 ) which is not depreciated.

KL Venning Slaters Ltd (Registered number: 06987741)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st November 2023
and 31st October 2024 33,407
DEPRECIATION
At 1st November 2023 8,352
Charge for year 6,264
At 31st October 2024 14,616
NET BOOK VALUE
At 31st October 2024 18,791
At 31st October 2023 25,055

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 614,438 660,861
Other debtors 192,003 68,459
806,441 729,320

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 5,178 8,877
Trade creditors 330,823 370,091
Taxation and social security 45,104 56,180
Other creditors - 21,613
381,105 456,761

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts - 5,178

KL Venning Slaters Ltd (Registered number: 06987741)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2024

9. RELATED PARTY DISCLOSURES

During the year the loan accounts to directors became overdrawn. The maximum overdrawn balances were as follows:-


Maximum outstanding in 2024Maximum outstanding in 2023
£ £
Mrs Lisa Elliott89,32818,900
Mr Mark Elliott68,1663,783

Balance outstanding at 31/10/24 Balance outstanding at 31/10/23
£ £
Mrs Lisa Elliott76,305nil
Mr Mark Elliott50,289nil

Interest was charged at a rate of 2.25% on Mrs Lisa Elliott's loan totalling £1,355 (2023:£83). Interest was charged on Mr Mark Elliott's loan totalling £1,063 (2023:nil). Both directors loan accounts were repaid in 2025.