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REGISTERED NUMBER: 01168477 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

KEN CLARKE LIMITED
TRADING AS
OSSETT TYRE HOUSE

KEN CLARKE LIMITED (REGISTERED NUMBER: 01168477)
TRADING AS OSSETT TYRE HOUSE






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KEN CLARKE LIMITED
TRADING AS OSSETT TYRE HOUSE

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mr K Clarke
Mrs J Clarke
Mr S K Clarke
Mr J Clarke





SECRETARY: Mrs J Clarke





REGISTERED OFFICE: Bank Street
Ossett
West Yorkshire
WF5 8PR





REGISTERED NUMBER: 01168477 (England and Wales)





ACCOUNTANTS: Temporal Lennon & Company Limited
Chartered Accountants
Suite 1
1 The Crescent
Adel
Leeds
West Yorkshire
LS16 6AA

KEN CLARKE LIMITED (REGISTERED NUMBER: 01168477)
TRADING AS OSSETT TYRE HOUSE

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 189,573 143,678
189,573 143,678

CURRENT ASSETS
Stocks 94,260 108,000
Debtors 6 723,880 789,802
Investments 7 106,271 100,021
Cash at bank and in hand 745,673 709,823
1,670,084 1,707,646
CREDITORS
Amounts falling due within one year 8 602,548 742,813
NET CURRENT ASSETS 1,067,536 964,833
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,257,109

1,108,511

PROVISIONS FOR LIABILITIES 43,122 25,323
NET ASSETS 1,213,987 1,083,188

CAPITAL AND RESERVES
Called up share capital 30,808 30,808
Share premium 144,556 144,556
Retained earnings 1,038,623 907,824
SHAREHOLDERS' FUNDS 1,213,987 1,083,188

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

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

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 28 March 2025 and were signed on its behalf by:




Mr S K Clarke - Director


KEN CLARKE LIMITED (REGISTERED NUMBER: 01168477)
TRADING AS OSSETT TYRE HOUSE

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

1. STATUTORY INFORMATION

Ken Clarke 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.

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

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.
Freehold property - 6.66% on cost
Plant and machinery - 15% 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 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.

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 20 (2023 - 19 ) .

KEN CLARKE LIMITED (REGISTERED NUMBER: 01168477)
TRADING AS OSSETT TYRE HOUSE

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 94,010
AMORTISATION
At 1 September 2023
and 31 August 2024 94,010
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

5. TANGIBLE FIXED ASSETS
Freehold Short Plant and Motor
property leasehold machinery vehicles Totals
£    £    £    £    £   
COST
At 1 September 2023 77,276 75,876 287,186 142,286 582,624
Additions - - 30,748 54,222 84,970
Disposals - - (24,491 ) - (24,491 )
At 31 August 2024 77,276 75,876 293,443 196,508 643,103
DEPRECIATION
At 1 September 2023 77,276 75,876 236,197 49,597 438,946
Charge for year - - 10,139 28,160 38,299
Eliminated on disposal - - (23,715 ) - (23,715 )
At 31 August 2024 77,276 75,876 222,621 77,757 453,530
NET BOOK VALUE
At 31 August 2024 - - 70,822 118,751 189,573
At 31 August 2023 - - 50,989 92,689 143,678

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 298,107 360,824
Other debtors 425,773 428,978
723,880 789,802

7. CURRENT ASSET INVESTMENTS
31.8.24 31.8.23
£    £   
Listed investments 106,271 100,021

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 398,755 477,872
Taxation and social security 74,568 50,534
Other creditors 129,225 214,407
602,548 742,813

KEN CLARKE LIMITED (REGISTERED NUMBER: 01168477)
TRADING AS OSSETT TYRE HOUSE

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

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.8.24 31.8.23
£    £   
Within one year 2,476 3,221
Between one and five years - 12,382
2,476 15,603