Kelvin Engineering Limited


FINANCIAL STATEMENTS


for the year ended 31st August 2024



Kelvin Engineering Limited

CONTENTS

for the year ended 31st August 2024







The Accounts are comprised of the following:

Statement of Financial Position

Notes to the Accounts



Please note that the Accounts comprise of HTML and iXBRL source code and that this is a printed or visual representation of that source code some of which will not be displayed or printed.

Kelvin Engineering Limited

Company No. 08189288

STATEMENT OF FINANCIAL POSITION

as at 31st August 2024

20242023
Note£££
FIXED ASSETS
Property, plant and equipment4498331536333
498331536333
CURRENT ASSETS
Stocks5173400155160
Debtors65404932103
Cash at bank and in hand2440151857
251850239120
CURRENT LIABILITIES
Creditors: amounts falling due
within one year7103299106248
NET CURRENT ASSETS148551132872
TOTAL ASSETS LESS CURRENT LIABILITIES646882669205
 
Creditors: amounts falling due
after more than one year8524334561152
 
NET ASSETS122548108053
 
CAPITAL AND RESERVES
Called up share capital11
Retained earnings122547108052
SHAREHOLDERS FUNDS122548108053

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies which are subject to the small companies' regime. The Income Statement has not been delivered to the Registrar of Companies.

For the year ended 31st August 2024 the Company is entitled to the exemption from the requirement to obtain an audit conferred by section 477 of the Companies Act 2006 and the members have not required the company to obtain an audit in accordance with section 476 of the Act.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the Board on 12 May 2025


S R Murray

Director

Company Number 08189288 (England)

Kelvin Engineering Limited

NOTES TO THE ACCOUNTS

for the year ended 31st August 2024


1   Statutory information

Kelvin Engineering Limited is a private company limited by shares and registered under company number 08189288 in England. Its registered office address is 12 Hatherley Road, Sidcup, Kent, DA14 4DT.

These financial statements are presented in Sterling, which is the functional currency of the company.

2   Accounting policies

Basis of preparation of financial statements

The accounts have been prepared under the historical cost convention in accordance with the accounting policies set out below, and in accordance with Financial Reporting Standard 102 Section 1A and the Companies Act 2006.

Income Recognition

Revenue is measured at the fair value of the consideration received or receivable. Turnover is shown net of value added tax, returns, rebates and discounts. Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is possible that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Depreciation

Depreciation is provided on all property, plant and equipment, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Plant, machinery and vehicles25% reducing balance

Stocks

Stocks are valued at the lower of cost and expected selling price less any costs to sell.

Leasing

Assets, obtained under hire purchase contracts and finance leases, are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts 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 the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

Leasing and hire purchase commitments

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the Company, are capitalised in the Statement of Financial Position and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the Statement of Financial Position as a liability.

The interest element of the rental obligations is charged to the Income Statement over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

3   Employee information

The average number of employees during the accounting period was 1 (2023 - 1).

4   Property, plant and equipment
 
PlantFixtures
Land andandand
BuildingsMachineryFittingsTotal
££££
Cost
At 1st September 2023 2988002925493890595239
Additions-333177510
At 31st August 20242988002928824067595749
 
Depreciation
At 1st September 2023 -57452145458906
Charge for year-3785865438512
At 31st August 2024-95310210897418
 
Net Book Value
At 31st August 20242988001975721959498331
At 31st August 20232988002350972436536333
 
Net book value of assets included above held
 under finance leases and hire purchase contracts
 
At 31st August 202429771-29771
At 31st August 202339695-39695

5   Stocks20242023
££
 
Finished goods and goods for resale173400155160
173400155160

The difference between purchase price or production cost of stocks and their replacement cost is not material.


6   Debtors20242023
££
 
Trade Debtors4212332103
Other debtors11926-
5404932103

7   Creditors: amounts falling due within one year20242023
££
 
Loans and Overdrafts1272410000
Obligations under finance lease and hire purchase contracts78607781
Trade Creditors4863947837
Taxes and social security costs-1995
Other creditors3407638635
103299106248

8   Creditors: amounts falling due after one year20242023
££
 
Loans and Overdrafts509238529238
Obligations under finance lease and hire purchase contracts1509631914
524334561152

9   Loans20242023
££
Analysis of maturity of debt:
 
Within one year1272410000
Between one and five years4000040000
After five years469238489238
521962539238
Secured loans381357391357

Loans are secured by all assets debenture

Loan amounts payable after five years can be analysed as follows:
 
Repayment TermsInterest Rate (%)
Bank LoansInstallments5361357379238
Other LoansNot by installments-107881110000
469238489238

10   Transactions with Directors

There were no transactions with Directors except as reflected in the Director's loan account for each Director. The closing balances of each account are as detailed below. Credit balances are shown without brackets. These balances are included in the figure for "Creditors and Accruals" in the accounts. Overdrawn balances are included in the figure for "Other Debtors".

20242023
££
 
S R Murray1475821757
1475821757

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