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REGISTERED NUMBER: 01721316 (England and Wales)





KILNWICK SPRAYERS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024






KILNWICK SPRAYERS LIMITED (REGISTERED NUMBER: 01721316)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KILNWICK SPRAYERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTOR: Mr W Litherland



SECRETARY: Mrs S Litherland



REGISTERED OFFICE: 7 St John Street
Mansfield
Nottinghamshire
NG18 1QH



REGISTERED NUMBER: 01721316 (England and Wales)



ACCOUNTANTS: ApC
Chartered Accountants
7 St John Street
Mansfield
Nottinghamshire
NG18 1QH



BANKERS: HSBC
13 Parliament Street
York
YO1 8XS

KILNWICK SPRAYERS LIMITED (REGISTERED NUMBER: 01721316)

BALANCE SHEET
30 NOVEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 543,490 555,382

CURRENT ASSETS
Stocks 6 30,802 11,446
Debtors 7 22,205 10,563
Cash in hand 105 105
53,112 22,114
CREDITORS
Amounts falling due within one year 8 124,605 113,672
NET CURRENT LIABILITIES (71,493 ) (91,558 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

471,997

463,824

CREDITORS
Amounts falling due after more than one
year

9

(386,298

)

(396,134

)

PROVISIONS FOR LIABILITIES (19,890 ) (27,974 )
NET ASSETS 65,809 39,716

CAPITAL AND RESERVES
Called up share capital 11 4,002 4,002
Retained earnings 61,807 35,714
SHAREHOLDERS' FUNDS 65,809 39,716

KILNWICK SPRAYERS LIMITED (REGISTERED NUMBER: 01721316)

BALANCE SHEET - continued
30 NOVEMBER 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 May 2025 and were signed by:





Mr W Litherland - Director


KILNWICK SPRAYERS LIMITED (REGISTERED NUMBER: 01721316)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024


1. STATUTORY INFORMATION

Kilnwick Sprayers 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
No significant judgements or estimates, all accounting policies are disclosed in the appropriate note to the financial statements. The Directors consider no further disclosures are considered necessary.

Turnover
Turnover represents the value excluding Value Added Tax of agricultural spraying equipment and their respective spare parts provided to customers during the year. In respect of agricultural spraying equipment and their respective spare parts provided, all income is taken to profit and loss at the same point as the right to receive consideration has been acquired.

Tangible fixed assets
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.
Freehold property - 2% straight line
Plant and machinery - 20% on reducing balance and Straight line over 15 years
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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.


KILNWICK SPRAYERS LIMITED (REGISTERED NUMBER: 01721316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


3. ACCOUNTING POLICIES - continued
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 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
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.

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.

KILNWICK SPRAYERS LIMITED (REGISTERED NUMBER: 01721316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Debtors & creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

KILNWICK SPRAYERS LIMITED (REGISTERED NUMBER: 01721316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 December 2023 471,491 233,779 15,968
Additions - - -
Disposals - - -
At 30 November 2024 471,491 233,779 15,968
DEPRECIATION
At 1 December 2023 28,000 141,109 15,366
Charge for year 2,000 13,900 94
Eliminated on disposal - - -
At 30 November 2024 30,000 155,009 15,460
NET BOOK VALUE
At 30 November 2024 441,491 78,770 508
At 30 November 2023 443,491 92,670 602

KILNWICK SPRAYERS LIMITED (REGISTERED NUMBER: 01721316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 December 2023 61,920 6,051 789,209
Additions 27,750 - 27,750
Disposals (28,589 ) - (28,589 )
At 30 November 2024 61,081 6,051 788,370
DEPRECIATION
At 1 December 2023 43,759 5,593 233,827
Charge for year 7,458 109 23,561
Eliminated on disposal (12,508 ) - (12,508 )
At 30 November 2024 38,709 5,702 244,880
NET BOOK VALUE
At 30 November 2024 22,372 349 543,490
At 30 November 2023 18,161 458 555,382

Included in cost of land and buildings is freehold land of £ 371,491 (2023 - £ 371,491 ) which is not depreciated.

KILNWICK SPRAYERS LIMITED (REGISTERED NUMBER: 01721316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


5. 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 December 2023 51,089
Additions 27,750
Disposals (28,589 )
At 30 November 2024 50,250
DEPRECIATION
At 1 December 2023 33,987
Charge for year 7,360
Eliminated on disposal (12,508 )
At 30 November 2024 28,839
NET BOOK VALUE
At 30 November 2024 21,411
At 30 November 2023 17,102

6. STOCKS
2024 2023
£    £   
Stocks 30,802 11,446

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 19,402 8,365
Prepayments and accrued income 2,803 2,198
22,205 10,563

KILNWICK SPRAYERS LIMITED (REGISTERED NUMBER: 01721316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 65,402 42,811
Hire purchase contracts 4,548 3,189
Trade creditors 20,182 12,163
Corporation tax 13,791 16,563
Social security and other taxes 1,208 1,533
VAT 2,751 2,690
Other creditors 259 257
Accruals and deferred income 16,464 34,466
124,605 113,672

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 9,651 9,651
Bank loans - 2-5 years 15,897 28,953
Bank loans more 5 yr by instal - 2,321
Hire purchase contracts 23,740 15,567
Directors' loan accounts 337,010 339,642
386,298 396,134

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 2,321

KILNWICK SPRAYERS LIMITED (REGISTERED NUMBER: 01721316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 55,751 33,160
Bank loans 35,199 50,576
Hire purchase contracts 28,288 18,756
119,238 102,492

The bank loans and hire purchase liabilities are secured on the assets to which they relate, including land and buildings, motor vehicles, and plant and equipment.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4,000 Ordinary £1 4,000 4,000
1 Ordinary A £1 1 1
1 Ordinary B £1 1 1
4,002 4,002

12. CAPITAL COMMITMENTS

The company had no capital commitments, or contingent liabilities at the balance sheet date.

13. RELATED PARTY DISCLOSURES

Key management personnel remuneration in the year totalled £12,570 (2023 £12,567)