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Registration number: 02040801

Kleenoil Filtration Limited

Information for Filing with The Registrar

31 October 2024

 

Kleenoil Filtration Limited

Contents

Balance Sheet

1 to 2

Notes to the Accounts

3 to 7

 

Kleenoil Filtration Limited

(Registration number: 02040801)

Balance Sheet

31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

80,126

94,751

Current assets

 

Stocks

5

330,772

329,497

Debtors

6

438,490

345,580

Cash at bank and in hand

 

61,395

95,654

 

830,657

770,731

Creditors: Amounts falling due within one year

7

(77,465)

(58,331)

Net current assets

 

753,192

712,400

Total assets less current liabilities

 

833,318

807,151

Creditors: Amounts falling due after more than one year

7

-

(6,937)

Provisions for liabilities

(13,500)

(16,300)

Net assets

 

819,818

783,914

Capital and reserves

 

Called up share capital

8

20,000

20,000

Retained earnings

799,818

763,914

Shareholders' funds

 

819,818

783,914

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.

 

Kleenoil Filtration Limited

(Registration number: 02040801)

Balance Sheet

31 October 2024

Approved and authorised by the Board on 10 March 2025 and signed on its behalf by:




B.M. Cornett

Director

 

Kleenoil Filtration Limited

Notes to the Accounts

Year Ended 31 October 2024

1

General information

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

The address of its registered office is:
Unit A
The Maltings
Fenton Lane
Sherburn in Elmet
LS25 6EZ

These financial statements were authorised for issue by the Board on 10 March 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.

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.

3

Staff numbers

The average number of persons employed by the company during the year, was 6 (2023 - 6).

 

Kleenoil Filtration Limited

Notes to the Accounts

Year Ended 31 October 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor
vehicles
 £

Total
£

Cost

At 1 November 2023

43,080

161,155

64,245

268,480

Additions

-

8,262

-

8,262

At 31 October 2024

43,080

169,417

64,245

276,742

Depreciation

At 1 November 2023

13,357

152,049

8,323

173,729

Charge for the year

3,780

6,258

12,849

22,887

At 31 October 2024

17,137

158,307

21,172

196,616

Carrying amount

At 31 October 2024

25,943

11,110

43,073

80,126

At 31 October 2023

29,723

9,106

55,922

94,751

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.
 

5

Stocks

2024
£

2023
£

Raw materials and finished goods

330,772

329,497

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

407,118

311,554

Amounts owed by related parties

10

17,048

13,663

Prepayments

 

5,516

4,936

Other debtors

 

8,808

15,427

   

438,490

345,580

 

Kleenoil Filtration Limited

Notes to the Accounts

Year Ended 31 October 2024

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

6,937

16,649

Trade creditors

 

15,023

1,969

Amounts due to related parties

 

166

231

Taxation and social security

 

35,958

22,110

Other creditors

 

19,381

17,372

 

77,465

58,331

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

-

6,937

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

20,000

20,000

20,000

20,000

         
 

Kleenoil Filtration Limited

Notes to the Accounts

Year Ended 31 October 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

-

6,937

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

6,937

16,649

10

Related party transactions

Summary of transactions with entities with joint control or significant interest

By-Pass Filtration Limited
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).