Registration number:
Kleenoil Filtration Limited
Information for Filing with The Registrar
31 October 2024
Kleenoil Filtration Limited
(Registration number: 02040801)
Balance Sheet
31 October 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
- |
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Provisions for liabilities |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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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:
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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.
Kleenoil Filtration Limited
(Registration number: 02040801)
Balance Sheet
31 October 2024
Approved and authorised by the
B.M. Cornett
Director
Kleenoil Filtration Limited
Notes to the Accounts
Year Ended 31 October 2024
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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.
Revenue recognition
Turnover comprises the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax.
The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.
Tax
The tax expense for the period comprises corporation and deferred tax.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.
Deferred 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 tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation.
Kleenoil Filtration Limited
Notes to the Accounts
Year Ended 31 October 2024
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Leasehold property |
10 years straight line basis |
Plant and machinery |
5 years straight line basis |
Motor vehicles |
4 years straight line basis |
Equipment |
3 years straight line basis |
Trade debtors
Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.
Trade debtors are recognised at the transaction price.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
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.
Staff numbers |
The average number of persons employed by the company during the year, was
Kleenoil Filtration Limited
Notes to the Accounts
Year Ended 31 October 2024
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor |
Total |
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Cost |
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At 1 November 2023 |
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Additions |
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At 31 October 2024 |
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Depreciation |
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At 1 November 2023 |
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Charge for the year |
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At 31 October 2024 |
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Carrying amount |
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At 31 October 2024 |
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At 31 October 2023 |
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Included within the net book value of land and buildings above is £25,943 (2023 - £29,723) in respect of long leasehold land and buildings.
Stocks |
2024 |
2023 |
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Raw materials and finished goods |
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Debtors |
Current |
Note |
2024 |
2023 |
Trade debtors |
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Amounts owed by related parties |
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Prepayments |
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Other debtors |
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Kleenoil Filtration Limited
Notes to the Accounts
Year Ended 31 October 2024
Creditors |
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts due to related parties |
166 |
231 |
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Taxation and social security |
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Other creditors |
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Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
- |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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20,000 |
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20,000 |
Kleenoil Filtration Limited
Notes to the Accounts
Year Ended 31 October 2024
Loans and borrowings |
Non-current loans and borrowings
2024 |
2023 |
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Hire purchase contracts |
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Current loans and borrowings
2024 |
2023 |
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Hire purchase contracts |
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Related party transactions |
Summary of transactions with entities with joint control or significant interest
B.M. Cornett is the sole director and shareholder of By-Pass Filtration Limited.
Kleenoil Filtration Limited charged £43,180 for goods on normal commercial terms.
At the balance sheet date the amount due from By-Pass Filtration Limited was £17,048 (2023 - £13,663).