| REGISTERED NUMBER: |
| AUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| KINGSBURY JIG & TOOL GROUP LIMITED |
| REGISTERED NUMBER: |
| AUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| KINGSBURY JIG & TOOL GROUP LIMITED |
| KINGSBURY JIG & TOOL GROUP LIMITED (REGISTERED NUMBER: 00580493) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| KINGSBURY JIG & TOOL GROUP LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| Chartered Accountants and Statutory Auditor |
| 34 Waterloo Road |
| Wolverhampton |
| West Midlands |
| WV1 4DG |
| KINGSBURY JIG & TOOL GROUP LIMITED (REGISTERED NUMBER: 00580493) |
| STATEMENT OF FINANCIAL POSITION |
| 30 SEPTEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Prepayments and accrued income |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Fair value reserve | 9 |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the director and authorised for issue on |
| KINGSBURY JIG & TOOL GROUP LIMITED (REGISTERED NUMBER: 00580493) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Kingsbury Jig & Tool Group Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Management charges is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| (a) Depreciation |
| Depreciation is provided on all tangible fixed assets other than freehold land and investment properties at rates calculated to write each asset down to its estimated residual value evenly over its expected useful life, as follows:- |
| Freehold buildings | over 50 years |
| Plant and machinery | over 8 years |
| Motor vehicles | over 4 years |
| Fixtures and fittings | over 10 years |
| Computer equipment | over 4 years |
| (b) Revalued assets |
| The company revalued various land and buildings on the basis of open market value for existing use in 2016.The assets have not been externally revalued since this date but in accordance with FRS102 the directors assess the revalued amounts for any impairment. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
| KINGSBURY JIG & TOOL GROUP LIMITED (REGISTERED NUMBER: 00580493) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Pension costs and other post-retirement benefits |
| The company operates a pension scheme for its employees providing benefits based on contributions. The pension cost charge represents contributions paid by the company to the funds. |
| Investments |
| Long term investments are described as participating interests and are classified as fixed assets. |
| Participating interests are stated at cost. |
| Provision is made for any permanent diminution in the value of fixed asset investments. |
| Leased assets |
| All leases are "operating lease". The annual rentals are charged to profit and loss on a straight line basis. |
| Pension contributions |
| The company operates a pension scheme for its employees providing benefits based on contributions. The pension cost charge represents contributions paid by the company to the funds. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| KINGSBURY JIG & TOOL GROUP LIMITED (REGISTERED NUMBER: 00580493) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and |
| property | machinery | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 October 2023 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 September 2024 |
| DEPRECIATION |
| At 1 October 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| Included in cost or valuation of land and buildings is freehold land of £ 98,500 (2023 - £ 98,500 ) which is not depreciated. |
| Cost or valuation at 30 September 2024 is represented by: |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| Valuation in 1999 | 204,584 | - | 204,584 |
| Valuation in 2008 | 60,179 | - | 60,179 |
| Valuation in 2016 | 19,150 | - | 19,150 |
| Valuation in 2024 | 149,500 | - | 149,500 |
| Cost | 72,337 | 525,260 | 597,597 |
| 505,750 | 525,260 | 1,031,010 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 October 2023 |
| and 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| KINGSBURY JIG & TOOL GROUP LIMITED (REGISTERED NUMBER: 00580493) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 October 2023 |
| and 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| The director has considered the valuation at the reporting date and confirmed no change. |
| Fair value at 30 September 2024 is represented by: |
| £ |
| Valuation in 2008 | 1,110,494 |
| Valuation in 2016 | (424,996 | ) |
| Valuation in 2024 | 1,665,500 |
| Cost | 3,798,252 |
| 6,149,250 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 October 2023 |
| and 30 September 2024 |
| No deferred tax liability arose on the fair value reserve. |
| KINGSBURY JIG & TOOL GROUP LIMITED (REGISTERED NUMBER: 00580493) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 11. | OTHER FINANCIAL COMMITMENTS |
| The company has given a guarantee on behalf of related parties in relation to bank liabilities. |