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K J THERMOSETS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






K J THERMOSETS LIMITED (REGISTERED NUMBER: 02761855)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


K J THERMOSETS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: K Hepworth
B Hepworth





REGISTERED OFFICE: 8/9 Victoria Industrial Estate,
Victoria Road,
Eccleshill
Bradford
West Yorkshire
BD2 2DD





REGISTERED NUMBER: 02761855 (England and Wales)





ACCOUNTANTS: Wilkinson and Partners
Chartered Accountants
Fairfax House
6a Mill Field Road
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PY

K J THERMOSETS LIMITED (REGISTERED NUMBER: 02761855)

BALANCE SHEET
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 71,510 83,242

CURRENT ASSETS
Stocks 115,326 90,333
Debtors 5 183,325 355,662
Cash at bank 362,334 152,490
660,985 598,485
CREDITORS
Amounts falling due within one year 6 139,136 128,550
NET CURRENT ASSETS 521,849 469,935
TOTAL ASSETS LESS CURRENT LIABILITIES 593,359 553,177

PROVISIONS FOR LIABILITIES 7 14,996 7,600
NET ASSETS 578,363 545,577

CAPITAL AND RESERVES
Called up share capital 8 40,000 40,000
Retained earnings 538,363 505,577
SHAREHOLDERS' FUNDS 578,363 545,577

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

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

K J THERMOSETS LIMITED (REGISTERED NUMBER: 02761855)

BALANCE SHEET - continued
31 DECEMBER 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 Board of Directors and authorised for issue on 17 April 2025 and were signed on its behalf by:





K Hepworth - Director


K J THERMOSETS LIMITED (REGISTERED NUMBER: 02761855)

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


1. STATUTORY INFORMATION

K J Thermosets 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.

In accordance with Section 444 of the Companies Act 2006, the Directors Report has not been delivered.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% 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 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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

K J THERMOSETS LIMITED (REGISTERED NUMBER: 02761855)

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


2. ACCOUNTING POLICIES - continued

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 - 15 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 611,321
Additions 888
At 31 December 2024 612,209
DEPRECIATION
At 1 January 2024 528,079
Charge for year 12,620
At 31 December 2024 540,699
NET BOOK VALUE
At 31 December 2024 71,510
At 31 December 2023 83,242

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 106,910 258,711
Other debtors 67,500 83,700
Prepayments 8,915 13,251
183,325 355,662

K J THERMOSETS LIMITED (REGISTERED NUMBER: 02761855)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 35,691 46,475
Tax 39,556 37,947
Social security and other taxes 11,318 7,191
VAT 45,097 29,180
Other creditors - 5,524
Directors' current accounts 5,524 -
Accrued expenses 1,950 2,233
139,136 128,550

7. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax 14,996 7,600

Deferred
tax
£   
Balance at 1 January 2024 7,600
Accelerated capital allowance 7,396
Balance at 31 December 2024 14,996

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
40,000 ORDINARY 1 40,000 40,000