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Registration number: 03445818

Alf Kitching Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Alf Kitching Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Alf Kitching Limited

Company Information

Directors

Mr Thomas Michael Kitching

Mr Daniel Jeffrey Kitching

Mr Paul Kitching

Mr Michael Kitching

Company secretary

Mr Paul Kitching

Registered office

Double Rivers
Crowle
Scunthorpe
North Lincolnshire
DN17 4DD

 

Alf Kitching Limited

(Registration number: 03445818)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

4,317,523

4,927,534

Current assets

 

Stocks

73,680

28,086

Debtors

6

1,759,480

1,421,851

Cash at bank and in hand

 

676,427

1,364,693

 

2,509,587

2,814,630

Creditors: Amounts falling due within one year

7

(1,119,840)

(664,659)

Net current assets

 

1,389,747

2,149,971

Total assets less current liabilities

 

5,707,270

7,077,505

Creditors: Amounts falling due after more than one year

7

(182,939)

(468,465)

Provisions for liabilities

(968,792)

(988,795)

Net assets

 

4,555,539

5,620,245

Capital and reserves

 

Called up share capital

66,666

66,666

Revaluation reserve

38,590

38,590

Retained earnings

4,450,283

5,514,989

Shareholders' funds

 

4,555,539

5,620,245

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 April 2025 and signed on its behalf by:
 

 

Alf Kitching Limited

(Registration number: 03445818)
Balance Sheet as at 31 October 2024

.........................................
Mr Paul Kitching
Company secretary and director

.........................................
Mr Michael Kitching
Director

 

Alf Kitching Limited

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

1

General information

The Company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Double Rivers
Crowle
Scunthorpe
North Lincolnshire
DN17 4DD

These financial statements were authorised for issue by the Board on 9 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

The financial statements cover the individual entity, Alf Kitching Ltd.

Going concern

The financial statements have been prepared on a going concern basis.

Specifically in connection with the current economic climate, the directors are satisfied that the company has sufficient financial headroom to continue trading for at least the next twelve months. For this reason the financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Government grants

Government grants which become receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, are recognised as income in the period in which they become receivable.

 

Alf Kitching Limited

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

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred Tax
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% on reducing balance

Motor vehicles

20% on reducing balance

Computer equipment

20% on reducing balance

Land and buildings

No depreciation is charged on the land owned by the company.

Stock

Stock has been estimated at the lower of cost and selling price less cost to sell.

Leases

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 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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Alf Kitching Limited

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

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 28 (2023 - 25).

 

Alf Kitching Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 November 2023

113,750

113,750

At 31 October 2024

113,750

113,750

Amortisation

At 1 November 2023

113,750

113,750

At 31 October 2024

113,750

113,750

Carrying amount

At 31 October 2024

-

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

93,500

10,706,085

693,223

11,492,808

Additions

-

480,550

2,500

483,050

Disposals

-

(421,000)

(129,307)

(550,307)

At 31 October 2024

93,500

10,765,635

566,416

11,425,551

Depreciation

At 1 November 2023

-

6,185,923

379,351

6,565,274

Charge for the year

-

963,096

60,996

1,024,092

Eliminated on disposal

-

(363,762)

(117,576)

(481,338)

At 31 October 2024

-

6,785,257

322,771

7,108,028

Carrying amount

At 31 October 2024

93,500

3,980,378

243,645

4,317,523

At 31 October 2023

93,500

4,520,162

313,872

4,927,534

6

Debtors

 

Alf Kitching Limited

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

Current

2024
£

2023
£

Trade debtors

1,106,074

1,172,200

Prepayments

127,906

9,399

Other debtors

525,500

240,252

 

1,759,480

1,421,851

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

410,664

324,537

Trade creditors

 

328,766

135,094

Social security and other taxes

 

159,813

185,980

Other payables

 

214,187

12,633

Accruals

 

6,410

6,415

 

1,119,840

664,659

Due after one year

 

Loans and borrowings

182,939

468,465

The hire purchase liability totalling £593,603 (2023 - £793,002) is secured against the assets of which the hire purchase was obtained for.