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REGISTERED NUMBER: 06664214 (England and Wales)















KENTON BLACK LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024






KENTON BLACK LIMITED (REGISTERED NUMBER: 06664214)

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










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 8

Statement of Financial Position 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


KENTON BLACK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mr A J Crabtree
Mr N Fox
Mr J A Howden





REGISTERED OFFICE: JQ Modern
Unit 614/5B
120 Vyse Street, Hockley
Birmingham
West Midlands
B18 6NF





REGISTERED NUMBER: 06664214 (England and Wales)





AUDITORS: Folkes Worton LLP
Chartered Accountants and Statutory Auditor
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU

KENTON BLACK LIMITED (REGISTERED NUMBER: 06664214)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2024


The directors present their strategic report for the year ended 31 August 2024.

REVIEW OF BUSINESS
The results for the year, as shown in the income statement, show gross profit of £4.1m (2023 - £4.2m), gross margin of 18.5% (2023 - 19.2%) and profit before tax of £43.2k (2023 - £16.3k). The results reflect the market challenges impacting the construction sector and the investment undertaken by the company in new technologies, learning and development and staff. The directors consider that the investment in 2024 provides the company with a strong foundation for organic growth in 2025.

On 1 September 2023, staff were transferred to other group members and the company was charged commission for the services provided by those staff was charged to the company by the other group members.

FUTURE DEVELOPMENTS
The company continues to invest in its core areas whilst also pushing into new markets both in the UK and internationally. The directors see this as diversification of risk and an opportunity for growth.

PRINCIPAL RISKS AND UNCERTAINTIES
The company uses various financial instruments including loans and various other items such as debtors and creditors that arise from its operations. The main purpose of these financial instruments is to raise finance for the company's operations.

The existence of these financial instruments exposes the company to several financial risks, which are covered in more detail below. The directors review and agree policies for managing these risks. These policies have remained unchanged from the previous year.

Economic Risk
The core construction business is heavily reliant on both UK and global economic factors. The stronger the industry, the increase in requirement for recruitment services.

Credit Risk
Rising material and labour costs combined with interest rate increases and repayment of COVID loans are putting a huge strain on cash flow for many businesses, especially in the construction sector. The risk of customers defaulting on debt is a concern, along with the availability of credit insurance which has been tightened significantly.

All customers are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and we also continue to insure our debt against default.

Interest Rate Risk
The company finances its operations through a combination of retained profits, bank loans, an invoice discounting facility and finance leases and hire purchase contracts. The company exposure to interest rate fluctuations on its borrowings is managed by the use of both fixed and variable rates.

Liquidity Risk
The company seeks to manage financial risk by ensuring liquidity is available to meet foreseeable needs and to invest cash assets safely and effectively. Short term flexibility is achieved by an invoice discounting facility.

ON BEHALF OF THE BOARD:





Mr A J Crabtree - Director


27 May 2025

KENTON BLACK LIMITED (REGISTERED NUMBER: 06664214)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 AUGUST 2024


The directors present their report with the financial statements of the company for the year ended 31 August 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of recruitment consultancy.

DIVIDENDS
The total distribution of dividends for the year ended 31 August 2024 will be £ 179,232 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 September 2023 to the date of this report.

Mr A J Crabtree
Mr N Fox
Mr J A Howden

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 and then apply them consistently;
-make judgements 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 enable them to ensure that the financial statements comply with the Companies Act 2006. They 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

KENTON BLACK LIMITED (REGISTERED NUMBER: 06664214)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 AUGUST 2024


AUDITORS
The auditors, Folkes Worton LLP, were appointed on 12 October 2023 and will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:




Mr A J Crabtree - Director


27 May 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
KENTON BLACK LIMITED


Opinion
We have audited the financial statements of Kenton Black Limited (the 'company') for the year ended 31 August 2024 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The 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 August 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 UK, including the FRC'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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our 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.

In connection with our audit of the financial statements, 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 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.

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

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
KENTON BLACK LIMITED


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 Report of the Directors.

We have nothing to report in respect of the following matters where 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 Statement of Directors' Responsibilities set out on page three, 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 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.

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 a Report of the Auditors 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.

We gained an understanding of the legal and regulatory framework applicable to the group and company and the industries in which they operate, and considered the risk of acts by the group and company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focused on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing statement disclosures to underlying supporting documentation and enquiries with management. There are inherent limitations in the audit procedures described above 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 be to become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

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 Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
KENTON BLACK LIMITED


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 2006. Our 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 a Report of the Auditors 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.




John Hegney FCCA (Senior Statutory Auditor)
for and on behalf of Folkes Worton LLP
Chartered Accountants and Statutory Auditor
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU

27 May 2025

KENTON BLACK LIMITED (REGISTERED NUMBER: 06664214)

INCOME STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024

2024 2023
Notes £    £   

TURNOVER 22,157,407 21,846,037

Cost of sales 18,063,725 17,645,232
GROSS PROFIT 4,093,682 4,200,805

Administrative expenses 4,488,565 4,009,169
(394,883 ) 191,636

Other operating income 650,016 -
OPERATING PROFIT 4 255,133 191,636


Interest payable and similar expenses 5 211,898 175,328
PROFIT BEFORE TAXATION 43,235 16,308

Tax on profit 6 (6,540 ) 8,726
PROFIT FOR THE FINANCIAL YEAR 49,775 7,582

KENTON BLACK LIMITED (REGISTERED NUMBER: 06664214)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 8 41,157 76,349

CURRENT ASSETS
Debtors 9 3,059,402 3,665,950
Cash at bank 201,970 444,469
3,261,372 4,110,419
CREDITORS
Amounts falling due within one year 10 3,144,046 3,808,155
NET CURRENT ASSETS 117,326 302,264
TOTAL ASSETS LESS CURRENT
LIABILITIES

158,483

378,613

CREDITORS
Amounts falling due after more than one
year

11

(74,812

)

(157,588

)

PROVISIONS FOR LIABILITIES 15 (9,720 ) (17,617 )
NET ASSETS 73,951 203,408

CAPITAL AND RESERVES
Called up share capital 16 228 228
Retained earnings 17 73,723 203,180
SHAREHOLDERS' FUNDS 73,951 203,408

The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2025 and were signed on its behalf by:





Mr A J Crabtree - Director


KENTON BLACK LIMITED (REGISTERED NUMBER: 06664214)

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

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 September 2022 228 400,830 401,058

Changes in equity
Dividends - (205,232 ) (205,232 )
Total comprehensive income - 7,582 7,582
Balance at 31 August 2023 228 203,180 203,408

Changes in equity
Dividends - (179,232 ) (179,232 )
Total comprehensive income - 49,775 49,775
Balance at 31 August 2024 228 73,723 73,951

KENTON BLACK LIMITED (REGISTERED NUMBER: 06664214)

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


1. STATUTORY INFORMATION

Kenton Black 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d).

This information is included in the consolidated financial statements of Kenton Black Group Limited and those financial statements may be obtained from Companies House.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business and is shown net of value added tax.

Revenue from the supply of services is recognised when:
- the amount of the revenue can be measured reliably;
- it is probable that the economic benefits associated with the transaction will flow to the entity; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

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.
Fixtures and fittings-25% on reducing balance
Motor vehicles-20% on cost
Office equipment-25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the disposal proceeds and the carrying value of the asset and is credited or charged to the income statement.

Financial instruments
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts being presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

KENTON BLACK LIMITED (REGISTERED NUMBER: 06664214)

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


2. ACCOUNTING POLICIES - continued

Basic financial assets
Trade and other debtors, including accrued income, which are receivable within one year and which do not constitute a financing transaction are initially measured at the transaction price and are subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost using the effective interest rate method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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

KENTON BLACK LIMITED (REGISTERED NUMBER: 06664214)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 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.

Impairment and non-financial assets
At each reporting end date, the company reviews the carrying amounts of its assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense unless those costs are required to be recognised as part of the cost of fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the services of the employee are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 922,882 2,752,027
Social security costs 103,993 309,045
Other pension costs 55,741 71,272
1,082,616 3,132,344

The average number of employees during the year was as follows:
2024 2023

Directors and administration 9 14
Sales 13 46
22 60

On 1 September 2023, staff were transferred to other group members. The average number of employees across the group was 48 (2023 - 60).

2024 2023
£    £   
Directors' remuneration 25,000 25,000
Directors' pension contributions to money purchase schemes 1,000 750

KENTON BLACK LIMITED (REGISTERED NUMBER: 06664214)

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


4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Other operating leases 180,862 211,580
Depreciation - owned assets 18,413 21,520
Depreciation - assets on hire purchase contracts 3,299 2,199
Loss on disposal of fixed assets 22,899 -
Auditors' remuneration 14,000 14,000
Auditors' remuneration for non audit work 4,000 4,000
Foreign exchange differences 972 -

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 13,489 14,701
Invoice finance charges 196,750 159,349
Hire purchase interest 1,659 1,278
211,898 175,328

6. TAXATION

Analysis of the tax (credit)/charge
The tax (credit)/charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 1,357 5,097

Deferred tax (7,897 ) 3,629
Tax on profit (6,540 ) 8,726

KENTON BLACK LIMITED (REGISTERED NUMBER: 06664214)

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


6. TAXATION - continued

Reconciliation of total tax (credit)/charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 43,235 16,308
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

10,809

3,099

Effects of:
Expenses not deductible for tax purposes 122 2,862
Capital allowances in excess of depreciation - (329 )
Utilisation of tax losses (17,471 ) -
Adjustments to tax charge in respect of previous periods - (1,134 )
Change of rate of deferred taxation - 4,228
Total tax (credit)/charge (6,540 ) 8,726

7. DIVIDENDS
2024 2023
£    £   
Ordinary A shares of 1p each
Interim 179,232 205,232

8. TANGIBLE FIXED ASSETS
Fixtures
and Motor Office
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2023 162,792 16,495 68,131 247,418
Additions 5,118 - 4,301 9,419
Disposals (150,636 ) - - (150,636 )
At 31 August 2024 17,274 16,495 72,432 106,201
DEPRECIATION
At 1 September 2023 128,042 2,199 40,828 171,069
Charge for year 9,611 3,299 8,802 21,712
Eliminated on disposal (127,737 ) - - (127,737 )
At 31 August 2024 9,916 5,498 49,630 65,044
NET BOOK VALUE
At 31 August 2024 7,358 10,997 22,802 41,157
At 31 August 2023 34,750 14,296 27,303 76,349

KENTON BLACK LIMITED (REGISTERED NUMBER: 06664214)

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


8. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2023
and 31 August 2024 16,495
DEPRECIATION
At 1 September 2023 2,199
Charge for year 3,299
At 31 August 2024 5,498
NET BOOK VALUE
At 31 August 2024 10,997
At 31 August 2023 14,296

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,633,323 3,456,166
Other debtors 78,297 65,272
Staff loan 34,000 38,600
Directors' loan accounts 97,487 31,707
Prepayments and accrued income 216,295 74,205
3,059,402 3,665,950

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 12) 80,000 80,000
Hire purchase contracts (see note 13) 2,776 2,427
Trade creditors 221,788 481,883
Amounts owed to group undertakings 298,607 -
Tax 1,357 5,097
Social security and other taxes 147,551 363,727
Other creditors 17,022 18,304
Invoice discounting account 2,123,739 2,315,285
Accruals 251,206 541,432
3,144,046 3,808,155

KENTON BLACK LIMITED (REGISTERED NUMBER: 06664214)

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


11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 12) 66,667 146,667
Hire purchase contracts (see note 13) 8,145 10,921
74,812 157,588

12. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 80,000 80,000

Amounts falling due between one and two years:
Bank loans 66,667 80,000

Amounts falling due between two and five years:
Bank loans - 66,667

13. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 4,086 4,086
Between one and five years 9,545 13,621
13,631 17,707

Finance charges repayable:
Within one year 1,310 1,659
Between one and five years 1,400 2,700
2,710 4,359

Net obligations repayable:
Within one year 2,776 2,427
Between one and five years 8,145 10,921
10,921 13,348

KENTON BLACK LIMITED (REGISTERED NUMBER: 06664214)

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


13. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 98,141 94,449
Between one and five years 20,425 49,228
118,566 143,677

14. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 146,667 226,667
Hire purchase contracts 10,921 13,348
Invoice discounting account 2,123,739 2,315,285
2,281,327 2,555,300

Bank borrowing is secured on fixed and floating charges over all property or undertaking of the company.

Hire purchase liabilities are secured on the assets acquired thereunder.

The invoice discounting account is secured on fixed and floating charges over all property or undertaking of the company.

15. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 10,290 19,088
Other timing differences (570 ) (1,471 )
9,720 17,617

Deferred
tax
£   
Balance at 1 September 2023 17,617
Credit to Income Statement during year (7,897 )
Balance at 31 August 2024 9,720

KENTON BLACK LIMITED (REGISTERED NUMBER: 06664214)

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


16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
17,700 Ordinary A 1p 177 177
1,500 Ordinary B 1p 15 15
1,200 Ordinary C 1p 12 12
1,200 Ordinary E 1p 12 12
1,200 Ordinary F 1p 12 12
228 228

17. RESERVES
Retained
earnings
£   

At 1 September 2023 203,180
Profit for the year 49,775
Dividends (179,232 )
At 31 August 2024 73,723

18. ULTIMATE PARENT COMPANY

Kenton Black Group Limited is regarded by the directors as being the company's ultimate parent company.

No individual is able to exercise sole control over the company or the group.

19. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
Mr A J Crabtree
Balance outstanding at start of year 23,442 33,983
Amounts advanced 16,836 7,226
Amounts repaid (7,432 ) (17,767 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 32,846 23,442

Mr N Fox
Balance outstanding at start of year 8,265 13,849
Amounts advanced 31,376 8,862
Amounts repaid - (14,446 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 39,641 8,265

KENTON BLACK LIMITED (REGISTERED NUMBER: 06664214)

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


19. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr J A Howden
Balance outstanding at start of year - -
Amounts advanced 25,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 25,000 -

20. RELATED PARTY DISCLOSURES

Mr A. Crabtree and Mr N. Fox, both of whom are directors of the company, each hold an interest in Chunk Payroll Limited. Chunk Payroll Limited provided operatives to the company for deployment on temporary assignments. During the year the company was charged £9,495,525 (2023 £6,799,755) in respect of these operatives.

The company paid commissions of £2,594,823 (2023 £Nil) and recharged management expenses of £650,016 (2023 £Nil) to other group members.