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KENDALL KINGSCOTT LIMITED




ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024


































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KENDALL KINGSCOTT LIMITED

 
COMPANY INFORMATION


DIRECTORS
Mr J M Press 
Ms J Blood 
Mr S B V Weston (resigned 21 June 2024)
Mr A C Bailey 
Mr T C Fenton 
Mr G Cowling 
Dr G W Tuckwell (appointed 29 October 2024)
Mr A A Ryder (appointed 29 October 2024)
Mr M A Rothwell (appointed 29 October 2024)
Mr C M England (appointed 29 October 2024)
Ms A S Draper (appointed 29 October 2024)
Mr R Brinkworth (appointed 29 October 2024)




REGISTERED NUMBER
04605743



REGISTERED OFFICE
Spring Lodge
172 Chester Road

Helsby

Cheshire

WA6 0AR




INDEPENDENT AUDITORS
Bishop Fleming LLP
Chartered Accountants & Statutory Auditors

10 Temple Back

Bristol

BS1 6FL






KENDALL KINGSCOTT LIMITED


CONTENTS



Page
Strategic Report
 
1 - 5
Directors' Report
 
6 - 7
Directors' Responsibilities Statement
 
8
Independent Auditors' Report
 
9 - 12
Statement of Comprehensive Income
 
13
Statement of Financial Position
 
14
Statement of Changes in Equity
 
15
Statement of Cash Flows
 
16
Analysis of Net Debt
 
17
Notes to the Financial Statements
 
18 - 27



KENDALL KINGSCOTT LIMITED

 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2024

INTRODUCTION
 
The Directors present their Strategic Report for Kendall Kingscott Limited (the Company, Kendall Kingscott or KK) for the year ended 31 May 2024.

BUSINESS REVIEW
 
In 2023/24, the company achieved a turnover of £15.74 million, representing a 7.5% increase from the previous year's £14.64 million. The gross profit, inclusive of direct sub-consultant appointments totalling £1.975 million, amounted to £5.798 million, or 36.9%, compared to the prior year's £5.424 million and 36.4%.  Notably, the gross profit margin attributable to KK activity advanced to 42.7%, surpassing our established target of 40% and last year’s result of 41.5%.

The operating profit for the year followed a positive trajectory, and EBITDA growth exceeded our target productivity ratios, in line with our growth objectives.

The year-end balance sheet stood at £3.23 million, compared to £2.32 million in the previous year, with cash in bank at £1.95 million, up from £1.63 million. This financial position reflects our prudent management and strategic initiatives aimed at sustaining growth and navigating market challenges.  

The Board is pleased to report that the company has continued to progress positively across all metrics, despite the challenging macro-economic conditions faced throughout the year. We have continued to successfully manage above-inflation cost increases in various operational areas.  Strategic improvements aimed at increasing efficiency have helped mitigate the impact of heightened cost pressures, alongside general fee inflation.

Like last year, the industry has shown resilience in our core sectors — health, education, and niche luxury and discount retail.  The residential and commercial private sectors remain challenging due to macro-economic factors affecting viability.  The new government’s manifesto is supportive of house-building across the UK, though greater incentivisation and an improved regulatory environment is needed to meet their ambitious goals.  

Our competitive advantage is underpinned by our rich heritage, diversified client base, scale, interdisciplinary structure, and regional focus across the South of England and Wales. Long-standing relationships with clients in the health and education sectors, some extending over a decade, form the cornerstone of our business model. These relationships are further strengthened by our commitment to cultural and developmental training programs, encapsulated in The KK Way. This framework is designed to empower our staff to realise their full potential through a series of carefully selected training programmes to aid surpassing client expectations.Our recent appointment of a Director of Training and Technical Excellence further underpins our commitment to organic staff development and the quality of our services to our clients.  

Our unique interdisciplinary approach, branded as 1-Team, delivers comprehensive, team-centric services that cover the entirety of a project's lifecycle from a single point of responsibility. This approach, coupled with enhanced marketing efforts following the launch of our new brand in 2023, has significantly raised our industry profile, and continued to yield tangible benefits.

We have intensified our promotional activities, celebrated achievements and analysed our performance to highlight our industry-leading metrics, especially in staff retention and training. The feedback from clients, staff, and prospective employees has been overwhelmingly positive, signalling strong alignment with our growth and operational strategies.

Page 1


KENDALL KINGSCOTT LIMITED


STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024

Our strategic roadmap is focused on a purpose-driven ethos, with several initiatives underway that promise to contribute to our long-term success.  These projects include:

Increasing our visibility in the market.
Hiring and keeping the best people.
Making our office practices more uniform.
Centralising our corporate services team. 
Creating new job roles that are focused on driving growth.
Ensuring we are best placed to capitalise on the green revolution.  
Formulating our strategy to net-zero before the end of the decade. 
Supporting initiatives that provide social value.
Expanding our range of services to include areas like sustainability, fire safety, health and safety, and geomatics, either in-house, acquisition or some other strategic partnership. 
 
We also aim to grow our presence outside the southern regions, applying our industry expertise in new areas.In 2025, we will open new offices in Manchester, Nottingham and Central London. 

Our trading in the current fiscal year remains robust with income and margin gaining further traction on  23/24 trading position, expecting income growth to be similar to last year at around 7.5%. 

KK has been strategically exploring alternative ownership models for a period to accelerate its growth plans and become a major UK provider of multi-disciplinary construction services.  In October 2024, KK completed the exercise and agreed a deal with RSK Group who acquired KK.  RSK is a UK based global provider of a wide range of environmental and technical services with over 15,000 people and an annual turnover approaching £2bn.   There are over 250 individual business units within the group that provide a myriad of specialist consultancy services that will undoubtedly strengthen KK’s offer to its clients.  RSK and KK’s values are well aligned, committed to purpose, culture and the net zero agenda.  KK will hugely benefit from the acquisition and will retain their brand, business identity of a medium sized business, but with the backing of a global player with significant ambition.  The acquisition presents much greater opportunity to unlock its full potential rapidly, providing opportunities for our staff to share in its success.  



Page 2


KENDALL KINGSCOTT LIMITED


STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024

PRINCIPAL RISKS AND UNCERTAINTIES
 
The company adheres to a rigorous liquidity and cash flow risk management policy, meticulously forecasting short- and medium-term working capital needs while ensuring ample liquidity through effective debtor management, secured credit lines, and available borrowing options, which, thus far, have not been necessitated.

The prevailing macro-economic environment, characterised by higher interest rates, uncertain inflationary outlook remains a point of concern.  Despite an improved inflation position, headwinds have recently returned with the prospect of delayed reductions in interest rates.  A low interest-rate environment encourages greater risk and investment and is important for growth in the construction industry.  The wider geo-political agenda being driven by the US particularly around trade-tariffs could accentuate the inflation position further. 

The new government is keen to incentivise growth in the UK with ambitious housebuilding and net zero plans.  

The current period will require strategic agility to navigate the resultant geo-political, market and regulatory changes, seizing opportunities under the new government.  We are working with entities within the RSK Group that is already bearing fruit with new market opportunities being explored.  

Kendall Kingscott's broad client base, geographical reach, and versatile project capabilities provide a robust buffer against market fluctuations in specific sectors. Our commitment to maintaining a diverse client portfolio across various sectors remains unwavering. 

In response to evolving market trends and intelligence, we are continuously exploring new service offerings to adapt our delivery and capabilities, while reinforcing our position in our key markets. This proactive approach ensures our strategic positioning to secure new, long-term consultancy advisory engagements, reinforcing our commitment to innovation and client service excellence.

The Building Safety Act 2022 necessitates operational adjustments in our Lead Designer role, and following robust training over the past 18 months, we have successfully integrated this service into the business. 
Page 3


KENDALL KINGSCOTT LIMITED


STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024


FINANCIAL KEY PERFORMANCE INDICATORS
 
Kendall Kingscott identifies its principal performance metrics as revenue, gross profit, operating profit, and cash reserves. To ensure these key performance indicators (KPIs) meet our targets, we employ a range of monitoring tools, including monthly management accounts, dashboard reports, profit and loss statements, cash flow forecasts, departmental ratio analyses, gap analyses, debtor days, work in progress, order book size, prospect sensitivity analysis, new project acquisitions, and enquiry reports, all reviewed monthly.

In addition to financial KPIs, the company places a high emphasis on non-financial metrics such as regular staff engagement, personal development reviews, client satisfaction, and health and safety performance. Regular board meetings and other forums are convened to discuss operations, business development, marketing strategies, information technology, human resources, and new initiatives, including the adoption of emerging technologies like artificial intelligence.


OTHER KEY PERFORMANCE INDICATORS
 
Agile Working
Our firm has successfully implemented a hybrid, agile, and flexible working policy that balances the needs of the business with the well-being of our staff. This policy has been embraced by our team, who appreciate the learning opportunities and mentorship available within our office environment. A healthy equilibrium has emerged, marked by increased training opportunities, cultural development days, and events focused on social interaction and well-being, all of which underscore the importance of work-life balance.  

Sustainability and Social Value
Our commitment to a purpose-led culture is gaining traction, building on our legacy, and demonstrated through formalising our charitable and community activities. This has been highlighted by the appointment of a dedicated Social Value and Sustainability Coordinator.

The implementation of the Social Value Accreditation Platform (THRIVE) marks a significant stride in acknowledging and tracking our contributions to social value on a project-by-project basis, and we continue to uphold our SV agenda with various initiatives across our business.   

In line with our Carbon Reduction Policy, we aim for net zero emissions before the decade's end. We have further invested in upgrading our pool vehicle fleet to branded electric vehicles (EVs) and installing charging points. Our EV salary exchange scheme has seen high polluting individuals swap out to EV cars which will benefit our carbon reporting next year.  We have implemented a host of local control measures, and our Ringwood office will be equipped with PVs in 2025, with further work planned aligned to our strategy.  We continue to offset our carbon footprint by investing in a recognised tree planting programme, ensuring a responsible path to Net Zero.

Brand Development
The launch of our new brand in August 2023 was a resounding success. We continue to strengthen our marketing efforts and have expanded our team to include two new Copywriters and a Technical Advisor.  Our campaigns are now more targeted and leverage social media and public events to bolster our strategic goals. The new brand has been enthusiastically received, and we continue to evolve it to capture attention and promote our services, with the aim of increasing market share, while promoting the added benefits of wider RSK Group.  

IT Investment
Our investment in IT infrastructure is robust, with work well advanced on our centralised virtual cloud server, that will support wider collaboration efforts. The adoption of cloud servers promises multiple efficiencies, including streamlined IT maintenance, and will be launched in April 2025. 

Workload and Accreditation
We maintain a balanced portfolio of public and private sector projects, consistently delivering beyond expectations.  Our project pipeline is healthy, with continued success in securing new contracts and maintaining existing relationships.
 

 
Page 4


KENDALL KINGSCOTT LIMITED


STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024

We uphold ISO 9001 and ISO 14001 accreditations, and in response to the omnipresent cyber security threats, we retain Cyber Essentials certification and are progressing towards Cyber Essentials Plus, reflecting our continued investment in IT security.   

Clients and Staff
The construction sector's commercial challenges persist, tempering margin and business stability.  We closely monitor potential risks and prioritise efficiency in project management to ensure optimal returns allied to market conditions. Attracting and retaining exceptional talent is a key focus, with an increased intake of graduates and apprentices, reinforcing our commitment to a people-first approach to growth and development.


This report was approved by the board and signed on its behalf.



Mr A C Bailey
Director
Date: 16 May 2025

Page 5


KENDALL KINGSCOTT LIMITED

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MAY 2024

The directors present their report and the financial statements for the year ended 31 May 2024.

PRINCIPAL ACTIVITIES

The principal activity of Kendall Kingscott in the year under review was that of a multi-disciplinary construction consultancy covering a wide array of services such as: Architecture, Building Surveying, Quantity Surveying, Interior Design, Principal Designer (CDM), Project Management, Building Services Engineering, Sustainability and Low Carbon Consultancy.    

RESULTS AND DIVIDENDS

The profit for the year, after taxation, amounted to £1,063,934 (2023: £618,033).

DIRECTORS

The directors who served during the year were:

Mr J M Press 
Ms J Blood 
Mr S B V Weston (resigned 21 June 2024)
Mr A C Bailey 
Mr T C Fenton 
Mr G Cowling 

FUTURE DEVELOPMENTS

The Directors remain fully committed to build on the continuing successful growth of the practice over the last 12 months. The strong balance sheet, cash positive position, robust ongoing pipeline allied with accurate financial projections and modelling provides the confidence to continue progression with the 5 - 10 year business plan for the practice.
Our trading position has allowed the acknowledgement of staff effort with ongoing payment of bonus, dividends for shareholders and regular salary reviews for all staff. We see this as an important part of retaining our staff cohort and has been financially planned and budgeted for in our future cashflow, balance sheet and profit and loss projections.

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditors are aware of that information.

POST BALANCE SHEET EVENTS

In October 2024, 100% of the share capital was acquired by RSK Environment Limited. 

Page 6


KENDALL KINGSCOTT LIMITED
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
This report was approved by the board and signed on its behalf.
 






Mr A C Bailey
Director

Date: 16 May 2025

Spring Lodge
172 Chester Road
Helsby
Cheshire
WA6 0AR

Page 7


KENDALL KINGSCOTT LIMITED

 
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MAY 2024

The directors are the  Strategic Report, the Directors' Report and the  financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

 In preparing these financial statements, the directors are required to:

select suitable accounting policies for the company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;


prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 8


KENDALL KINGSCOTT LIMITED

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KENDALL KINGSCOTT LIMITED
OPINION


We have audited the financial statements of Kendall Kingscott Limited (the 'company') for the year ended 31 May 2024, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the company's affairs as at 31 May 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


BASIS FOR OPINION


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


CONCLUSIONS RELATING TO GOING CONCERN


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


OTHER INFORMATION


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Page 9


KENDALL KINGSCOTT LIMITED
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KENDALL KINGSCOTT LIMITED (CONTINUED)

OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
 

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


RESPONSIBILITIES OF DIRECTORS
 

As explained more fully in the Directors' Responsibilities Statement set out on page 8, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.


Page 10


KENDALL KINGSCOTT LIMITED
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KENDALL KINGSCOTT LIMITED (CONTINUED)

AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The nature of the industry and sector, control environment and business performance;
Results of our enquires of management and directors in relation to their own identification and assessment of the risks of irregularities within the Company; and
Any matters we identified having obtained and reviewed the Company’s documentation of their policies and procedures relating to: identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; the internal controls established to mitigate risks of fraud or noncompliance with laws and regulations.

As a result of these procedures, we have considered the opportunities and incentives that may exist within the
organisation for fraud and identified the greatest potential for fraud in accounting for revenue relating to long term
contracts.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We have also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focussing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures within the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and UK tax legislation. In additions we considered provision of other laws and regulations that do not have a direct effect on the financial statements but compliance with may be fundamental for the Company’s ability to operate or avoid a material penalty. These included building regulation laws, health and safety legislation, environmental legislation and employment legislation.

Our audit procedures performed to respond to the risks identified included, but were not limited to:

Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
Reviewing the financial statement disclosures and testing to supporting documentation to assess the recognition of revenue;
Challenging assumptions and judgements made by management in their significant accounting estimates; Identifying and testing journal entries, evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.
Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulation and fraud; and
Review of board meeting minutes.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Our audit procedures were designed to respond to risks of material misstatement in the financial
Page 11


KENDALL KINGSCOTT LIMITED
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KENDALL KINGSCOTT LIMITED (CONTINUED)

statements,recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.
 
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


USE OF OUR REPORT
 

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.






David Butler FCA (Senior Statutory Auditor)
for and on behalf of
Bishop Fleming LLP
Chartered Accountants
Statutory Auditors
10 Temple Back
Bristol
BS1 6FL

20 May 2025
Page 12


KENDALL KINGSCOTT LIMITED

 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MAY 2024

2024
2023
£
£

  

Turnover
 4 
15,739,125
14,638,495

Cost of sales
  
(9,945,025)
(9,213,939)

Gross profit
  
5,794,100
5,424,556

Administrative expenses
  
(4,343,682)
(4,723,857)

Operating profit
 5 
1,450,418
700,699

Interest receivable and similar income
  
37,713
7,355

Interest payable and similar expenses
  
(62,992)
(72,686)

Profit before tax
  
1,425,139
635,368

Tax on profit
 9 
(361,205)
(17,335)

Profit for the year
  
1,063,934
618,033

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 18 to 27 form part of these financial statements.

Page 13


KENDALL KINGSCOTT LIMITED
REGISTERED NUMBER:04605743

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 11 
435,162
321,436

Current assets
  

Debtors: amounts falling due within one year
 12 
4,908,856
4,546,676

Cash at bank and in hand
  
1,949,209
1,633,024

  
6,858,065
6,179,700

Creditors: amounts falling due within one year
 13 
(3,725,622)
(3,586,069)

Net current assets
  
 
 
3,132,443
 
 
2,593,631

Total assets less current liabilities
  
3,567,605
2,915,067

Creditors: amounts falling due after more than one year
 14 
(278,424)
(534,640)

Provisions for liabilities
  

Deferred tax
 15 
(62,347)
(64,364)

Net assets
  
 
 
3,226,834
 
 
2,316,063


Capital and reserves
  

Called up share capital 
 16 
167,975
167,975

Share premium account
 17 
666,000
666,000

Capital redemption reserve
 17 
133,725
133,725

Profit and loss account
 17 
2,259,134
1,348,363

  
3,226,834
2,316,063


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 





Mr A C Bailey
Director

Date: 16 May 2025

The notes on pages 18 to 27 form part of these financial statements.

Page 14


KENDALL KINGSCOTT LIMITED


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024


Called up share capital
Share premium account
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 June 2023
167,975
666,000
133,725
1,348,363
2,316,063


Comprehensive income for the year

Profit for the year
-
-
-
1,063,934
1,063,934


Contributions by and distributions to owners

Dividends: Equity capital
-
-
-
(153,163)
(153,163)


At 31 May 2024
167,975
666,000
133,725
2,259,134
3,226,834



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2023


Called up share capital
Share premium account
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 June 2022
159,675
539,100
131,225
926,430
1,756,430


Comprehensive income for the year

Profit for the year
-
-
-
618,033
618,033


Contributions by and distributions to owners

Dividends: Equity capital
-
-
-
(167,975)
(167,975)

Shares issued during the year
10,800
126,900
-
-
137,700

Purchase of own shares
(2,500)
-
2,500
(28,125)
(28,125)


At 31 May 2023
167,975
666,000
133,725
1,348,363
2,316,063


The notes on pages 18 to 27 form part of these financial statements.

Page 15


KENDALL KINGSCOTT LIMITED


STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MAY 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
1,063,934
618,033

Adjustments for:

Depreciation of tangible assets
119,268
108,769

Loss on disposal of tangible assets
2,214
46

Interest paid
62,992
72,686

Interest received
(37,713)
(7,355)

Taxation charge
361,205
17,335

(Increase) in debtors
(433,136)
(475,042)

(Decrease) in creditors
(223,546)
(1,066,235)

Corporation tax received/(paid)
66,085
(75,675)

Net cash generated from operating activities

981,303
(807,438)


Cash flows from investing activities

Purchase of tangible fixed assets
(237,742)
(106,309)

Sale of tangible fixed assets
2,534
150

Interest received
37,713
7,355

Net cash from investing activities

(197,495)
(98,804)

Cash flows from financing activities

Issue of ordinary shares
-
137,700

Repayment of loans
(200,000)
(200,000)

Repayment of other loans
(51,468)
(48,017)

Dividends paid
(153,163)
(167,975)

Interest paid
(62,992)
(72,686)

Shares repurchased
-
(28,125)

Net cash used in financing activities
(467,623)
(379,103)

Net increase/(decrease) in cash and cash equivalents
316,185
(1,285,345)

Cash and cash equivalents at beginning of year
1,633,024
2,918,369

Cash and cash equivalents at the end of year
1,949,209
1,633,024


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
1,949,209
1,633,024

1,949,209
1,633,024


The notes on pages 18 to 27 form part of these financial statements.

Page 16


KENDALL KINGSCOTT LIMITED


ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 MAY 2024




At 1 June 2023
Cash flows
At 31 May 2024
£

£

£

Cash at bank and in hand

1,633,024

316,185

1,949,209

Debt due after 1 year

(534,640)

256,216

(278,424)

Debt due within 1 year

(272,784)

6,300

(266,484)



825,600
578,701
1,404,301

The notes on pages 18 to 27 form part of these financial statements.

Page 17


KENDALL KINGSCOTT LIMITED

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

1.


GENERAL INFORMATION

Kendall Kingscott Limited is a private limited company, limited by shares, incorporated within the United Kingdom and registered within England and Wales.  The Company's registered office is Spring Lodge,172 Chester Road, Helsby,Cheshire, WA6 0AR and its registered number is 04605743.
The functional currency of Kendall Kingscott Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Group and Company have adequate resources to continue in operational existence and to meet the financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. 
The Company's business activities, together with the factors likely to affect its future development, performance and position are set out in the Director’s report.
The Company's forecasts and projections show that the company should be able to operate within the level of its current facilities and there is a cash pooling facility in place that can be drawn down if required. 
Therefore, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

 
2.3

REVENUE RECOGNITION

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 18


KENDALL KINGSCOTT LIMITED

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

2.ACCOUNTING POLICIES (continued)

 
2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following methods.

Depreciation is provided on the following basis:

Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
10% straight line
Office & computer equipment
-
10-20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

DEBTORS

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.

 
2.6

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

 
2.7

CREDITORS

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

 
2.8

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 19


KENDALL KINGSCOTT LIMITED

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

2.ACCOUNTING POLICIES (continued)

 
2.10

OPERATING LEASES

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.11

LEASED ASSETS: THE COMPANY AS LESSEE

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.12

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in other creditors as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

 
2.13

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.14

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 20


KENDALL KINGSCOTT LIMITED

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

2.ACCOUNTING POLICIES (continued)

 
2.15

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.



3.



JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Preparation of the financial statements requires management to make significant judgments and
estimates. The items in the financial statements where these judgments and estimates have been made
include:
Amounts recoverable on contracts are recognised on the proportion of work completed to date on the
project. The attributable profit is recognised once the outcome of the project can be assessed with
reasonable certainity.


4.


TURNOVER

The whole of the turnover is attributable to the principal activity of the company. 

2024
2023
£
£

United Kingdom
15,739,125
14,638,495


All turnover arose within the United Kingdom.

Page 21


KENDALL KINGSCOTT LIMITED

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

5.


OPERATING PROFIT

The operating profit is stated after charging:

2024
2023
£
£

Other operating lease rentals
708,696
708,274


6.


AUDITORS' REMUNERATION

During the year, the company obtained the following services from the company's auditors:


2024
2023
£
£

Fees payable to the company's auditors for the audit of the company's financial statements
19,750
15,000

7.


EMPLOYEES

2024
2023
£
£

Wages and salaries
7,643,362
7,812,385

Social security costs
785,213
917,303

Cost of defined contribution scheme
741,756
665,785

9,170,331
9,395,473


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Professional and administration
173
168


8.


DIRECTORS' REMUNERATION

2024
2023
£
£

Directors' emoluments
1,027,359
1,607,190

Company contributions to defined contribution pension schemes
66,324
53,018

1,093,683
1,660,208


Page 22


KENDALL KINGSCOTT LIMITED

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

9.


TAXATION


2024
2023
£
£

CORPORATION TAX


Current tax on profits for the year
363,222
86,749

Adjustments in respect of previous periods
-
(72,034)


TOTAL CURRENT TAX
363,222
14,715

DEFERRED TAX


Origination and reversal of timing differences
(2,017)
2,620


TAXATION ON PROFIT ON ORDINARY ACTIVITIES
361,205
17,335

FACTORS AFFECTING TAX CHARGE FOR THE YEAR

The tax assessed for the year is higher than (2023: lower than) the standard rate of corporation tax in the UK of25% (2023: 20%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
1,425,139
635,368


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023: 20%)
356,285
127,074

EFFECTS OF:


Fixed assets differences
365
(4,065)

Expenses not deductible for tax purposes
28,191
14,163

Adjustments to tax charge in respect of prior periods
431
(72,034)

Remeasurement of deferred tax for changes in tax rates
-
13,064

Movement in deferred tax not recognised
(24,067)
(60,867)

TOTAL TAX CHARGE FOR THE YEAR
361,205
17,335


FACTORS THAT MAY AFFECT FUTURE TAX CHARGES

There were no factors that may affect future tax charges.

Page 23


KENDALL KINGSCOTT LIMITED

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

10.


DIVIDENDS

2024
2023
£
£


Dividends
153,163
167,975

153,163
167,975


11.


TANGIBLE FIXED ASSETS





Motor vehicles
Fixtures and fittings
Office & computer equipment
Total

£
£
£
£



COST OR VALUATION


At 1 June 2023
209,338
319,650
1,034,930
1,563,918


Additions
-
101,849
135,893
237,742


Disposals
(75,578)
-
-
(75,578)



At 31 May 2024

133,760
421,499
1,170,823
1,726,082



DEPRECIATION


At 1 June 2023
190,519
264,828
787,135
1,242,482


Charge for the year on owned assets
4,328
19,196
95,744
119,268


Disposals
(70,830)
-
-
(70,830)



At 31 May 2024

124,017
284,024
882,879
1,290,920



NET BOOK VALUE



At 31 May 2024
9,743
137,475
287,944
435,162



At 31 May 2023
18,819
54,822
247,795
321,436

Page 24


KENDALL KINGSCOTT LIMITED

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

12.


DEBTORS

2024
2023
£
£


Trade debtors
3,170,389
3,087,316

Other debtors
113,482
126,104

Prepayments and accrued income
202,234
130,401

Amounts recoverable on long-term contracts
1,422,751
1,202,855

4,908,856
4,546,676



13.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank loans
200,000
200,000

Other loans
66,484
61,736

Trade creditors
887,248
642,933

Corporation tax
368,348
9,998

Other taxation and social security
1,157,742
1,039,123

Other creditors
187,638
182,297

Accruals and deferred income
858,162
1,449,982

3,725,622
3,586,069



14.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
250,000
450,000

Other loans
28,424
84,640

278,424
534,640


The bank loan is payable over a term of 6 years from the date of the first drawdown of the loan. The interest is charge at a rate of 3.99% per annum.

Page 25


KENDALL KINGSCOTT LIMITED

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

15.


DEFERRED TAXATION




2024
2023


£

£






At beginning of year
(64,364)
(61,744)


Charged to profit or loss
2,017
(2,620)



AT END OF YEAR
(62,347)
(64,364)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fixed asset timing differences
(84,634)
(64,364)

Short term timing differences
22,287
-

(62,347)
(64,364)


16.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



167,975 (2023: 167,975) ordinary shares of £1.00 each
167,975
167,975



17.


RESERVES

Share premium account

The share premium account includes any premiums received on issue of share capital.

Capital redemption reserve

The capital redemption reserve represents the nominal value of shares purchased back by the company. This reserve is not considered distributable.

Profit and loss account

The profit and loss account includes all current and prior period retained profits and losses.
Page 26


KENDALL KINGSCOTT LIMITED

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


18.


PENSION COMMITMENTS

Pension commitments:

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £665,785 (2023: £601,662). Contributions totalling £53,767 (2023: £48,917) were payable to the fund at the reporting date.  This amount is included within other creditors due within one year.


19.


COMMITMENTS UNDER OPERATING LEASES

At 31 May 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
492,426
492,426

Later than 1 year and not later than 5 years
1,557,766
1,733,392

Later than 5 years
952,050
1,268,850

3,002,242
3,494,668


20.


RELATED PARTY TRANSACTIONS

At the year end the company owed a total of £54,889 (2023: £14,048) to the directors, these balances being included within short term creditors above. During the year interest payable on these balances amounted to £2,395 (2023: £7,977). Interest is charged at 2% per annum over the base rate.
Some members of key management personnel have advanced loans to the company. Interest of £6,953 (2023: £10,108) was incurred during the year. At the year end date a total of £71,180 (2023: £109,783) remained outstanding of which £49,863 (2023: £46,303) is shown within other loans falling due within one year and the remaining £21,317 (2023: £63,480) is shown within other loans falling due after more than one year. Interest is charged at 8% on these loans.
An entity controlled by key management personnel of the company owns the premises from which one office of the company operates. During the year rent of £114,000 (2023: £114,000) was charged to the company.
An entity controlled by close family members of the key management personnel of the company owns the premises from which one office of the company operates. During the year rent of £147,000 (2023: £147,000) and property costs of £955 (2023: £1,022) was charged to the company.   
During the year, the directors received dividends totalling £115,662 (2023:£130,475).


21.


POST BALANCE SHEET EVENTS

In October 2024, 100% of the share capital was acquired by RSK Environment Limited. 

 
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