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REGISTERED NUMBER: 06639165 (England and Wales)















KH ENGINEERING (SWINDON) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2024






KH ENGINEERING (SWINDON) LIMITED (REGISTERED NUMBER: 06639165)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 8


KH ENGINEERING (SWINDON) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2024







DIRECTOR: Mr N S Hill



SECRETARY: Mrs R Hill



REGISTERED OFFICE: 43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



REGISTERED NUMBER: 06639165 (England and Wales)



ACCOUNTANTS: Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



BANKERS: Lloyds Bank Plc
5 High Street
SWINDON
Wiltshire
SN1 3EN

KH ENGINEERING (SWINDON) LIMITED (REGISTERED NUMBER: 06639165)

STATEMENT OF FINANCIAL POSITION
31ST JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 37,319 48,349
37,319 48,349

CURRENT ASSETS
Stocks 5,000 5,000
Debtors 6 165,476 208,088
Cash at bank 161,024 136,554
331,500 349,642
CREDITORS
Amounts falling due within one year 7 123,282 135,346
NET CURRENT ASSETS 208,218 214,296
TOTAL ASSETS LESS CURRENT
LIABILITIES

245,537

262,645

CREDITORS
Amounts falling due after more than
one year

8

(24,677

)

(42,900

)

PROVISIONS FOR LIABILITIES (6,923 ) (9,384 )
NET ASSETS 213,937 210,361

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 213,837 210,261
SHAREHOLDERS' FUNDS 213,937 210,361

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

KH ENGINEERING (SWINDON) LIMITED (REGISTERED NUMBER: 06639165)

STATEMENT OF FINANCIAL POSITION - continued
31ST JULY 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 director and authorised for issue on 28th April 2025 and were signed by:





Mr N S Hill - Director


KH ENGINEERING (SWINDON) LIMITED (REGISTERED NUMBER: 06639165)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024


1. STATUTORY INFORMATION

KH Engineering (Swindon) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06639165

Registered office: 43-45 Devizes Road, Swindon, Wiltshire, SN1 4BG

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound.

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.

Significant judgements and estimates
In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.

- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.

- Determine an appropriate provision for obsolete and slow moving stocks by assessing the net realisable value of all stock lines on a line by line basis.

- Determine an appropriate provision for dilapidations by assessing the probable future obligations expected to exist at the end of the property lease.

Turnover
Turnover from sale of goods is recognised when the significant risks and reward of ownership of the goods have passed to the buyer, usually on dispatch of the goods. Turnover in respect of service contracts is recognised when the company obtains the right to consideration.

Turnover represents revenue earned under a wide variety of contracts to provide engineering services to third parties.

Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under those contracts.

It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including recoverable expenses and disbursements, but excluding Value Added Tax.

For incomplete contracts, an assessment is made of the extent to which revenue has been earned. This assessment takes into account the nature of the assignment, its stage of completion and the relevant contract terms.

Revenue in respect of contingent fee arrangements (over and above any minimum agreed fee) is recognised when the contingent event occurs and the recoverability of the fee is assured.

Unbilled revenue is included in debtors, under 'amounts recoverable on contracts'.

KH ENGINEERING (SWINDON) LIMITED (REGISTERED NUMBER: 06639165)

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


2. ACCOUNTING POLICIES - continued

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.
Improvements to property - 25% on cost
Plant and machinery - 25% on cost and 20% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on cost

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

Financial instruments
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

KH ENGINEERING (SWINDON) LIMITED (REGISTERED NUMBER: 06639165)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st August 2023
and 31st July 2024 148,500
AMORTISATION
At 1st August 2023
and 31st July 2024 148,500
NET BOOK VALUE
At 31st July 2024 -
At 31st July 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st August 2023 350,824
Additions 7,875
At 31st July 2024 358,699
DEPRECIATION
At 1st August 2023 302,475
Charge for year 18,905
At 31st July 2024 321,380
NET BOOK VALUE
At 31st July 2024 37,319
At 31st July 2023 48,349


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 111,485 169,170
Amounts recoverable on contract 19,216 6,000
Other debtors 34,775 32,918
165,476 208,088

KH ENGINEERING (SWINDON) LIMITED (REGISTERED NUMBER: 06639165)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 9) 8,223 7,735
Trade creditors 40,153 40,460
Taxation and social security 39,008 45,339
Other creditors 25,898 31,812
123,282 135,346

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 8,334 18,334
Hire purchase contracts (see note 9) 16,343 24,566
24,677 42,900

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 8,223 7,735
Between one and five years 16,343 24,566
24,566 32,301

Non-cancellable operating leases
2024 2023
£    £   
Within one year 20,680 20,680
Between one and five years 34,467 55,147
55,147 75,827

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 24,566 32,301

The invoice factoring account is secured against a debenture dated 11 September 2008 over the entire assets of the company.This was a debit balance as at 31/07/2023 and included within other debtors.

Obligations under hire purchase and finance lease contracts are secured on the assets concerned.

KH ENGINEERING (SWINDON) LIMITED (REGISTERED NUMBER: 06639165)

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


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
52 A ordinary £1 52 52
48 B ordinary £1 48 48
100 100

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st July 2024 and 31st July 2023:

2024 2023
£    £   
Mr N S Hill
Balance outstanding at start of year - -
Amounts advanced 468 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 468 -

The loan was provided interest free with no fixed repayment date.