| REGISTERED NUMBER: 03306495 (England and Wales) |
| GROUP STRATEGIC REPORT, |
| REPORT OF THE DIRECTOR AND |
| AUDITED |
| CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| FOR |
| KILLOUGHERY HOLDINGS LTD |
| REGISTERED NUMBER: 03306495 (England and Wales) |
| GROUP STRATEGIC REPORT, |
| REPORT OF THE DIRECTOR AND |
| AUDITED |
| CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| FOR |
| KILLOUGHERY HOLDINGS LTD |
| KILLOUGHERY HOLDINGS LTD (REGISTERED NUMBER: 03306495) |
| CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| Page |
| Company Information | 1 |
| Group Strategic Report | 2 |
| Report of the Director | 3 |
| Report of the Independent Auditors | 5 |
| Consolidated Income Statement | 8 |
| Consolidated Other Comprehensive Income | 9 |
| Consolidated Balance Sheet | 10 |
| Company Balance Sheet | 11 |
| Consolidated Statement of Changes in Equity | 12 |
| Company Statement of Changes in Equity | 13 |
| Consolidated Cash Flow Statement | 14 |
| Notes to the Consolidated Cash Flow Statement | 15 |
| Notes to the Consolidated Financial Statements | 16 |
| KILLOUGHERY HOLDINGS LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants |
| & Registered Auditors |
| 162-164 High Street |
| Rayleigh |
| Essex |
| SS6 7BS |
| KILLOUGHERY HOLDINGS LTD (REGISTERED NUMBER: 03306495) |
| GROUP STRATEGIC REPORT |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| The director presents his strategic report of the company and the group for the year ended 30th September 2024. |
| REVIEW OF BUSINESS |
| We consider that our key financial performance indicators are those that communicate the financial performance and strength of the group as a whole, these being turnover, gross profit margin and liquidity. |
| As noted in our prior years review, the market remained very challenging, regard having to be made to general major national economic considerations.. |
| In light of the prevailing conditions, the group's approach was one of continuing the prior years policy of aggressive pricing policies, in an attempt to maintain market share, whilst waiting for a better economic atmosphere, which would then enable us to capitalise on the results of this approach. |
| Despite the market conditions, the group managed to maintain turnover levels, and despite challenging market conditions managed to achieve gross profit margins of 31%. The net liquidity position increased by £336,000, primarily due to a substantial reduction in administration expenses and the substantial investments in fixed assets made in the prior two years, reducing the group's requirements to invest so heavily in this period. It is of note that despite this the group still invested £1,000,000 in new assets during the period |
| As a continuation of the policy, as stated in the review last year, the group has continued with it's investment in new fixed assets, particularly heavy duty vehicles, which not only saves costs relating to ULEZ, but also created savings as the modernized fleet is more cost efficient. The company intends to continue this investment policy into the foreseeable future. |
| The group intends to carry on trading into next year using the same policies and will ,again, be targeting an increase in the gross profit percentages. |
| PRINCIPAL RISKS AND UNCERTAINTIES |
| The performance of the business is linked to the overall state of the economy but in particular to the activities within the sectors of the market in which we operate. As well as economic risks the waste industry has additional environmental legislative and compliance risks. We try to minimise these risks by employing highly skilled management, by training and by engaging specialist consultants so that we keep up with statutory regulations and comply with the conditions of our operating licences and permits at all times. Landfill charges and fuel prices are monitored on a weekly basis, thus ensuring that operating increases therein are recognised at an early state. |
| ON BEHALF OF THE BOARD: |
| KILLOUGHERY HOLDINGS LTD (REGISTERED NUMBER: 03306495) |
| REPORT OF THE DIRECTOR |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| The director presents his report with the financial statements of the company and the group for the year ended 30th September 2024. |
| DIVIDENDS |
| No dividends will be distributed for the year ended 30th September 2024. |
| DIRECTOR |
| FINANCIAL INSTRUMENTS |
| Financial risk management |
| The group's operations expose it to a variety of financial risks that include the effect of changes in liquidity risk and interest rate risk. The company has in place a risk management programme that seeks to limit the adverse effects on the financial performance of the company by monitoring levels of debt finance and the related finance costs. |
| Given the size of the group, the directors have not delegated the responsibility of monitoring financial risk management to a sub-committee of the board. The policies set by the board of directors are implemented by the group's finance department. |
| Liquidity risk |
| The group actively maintains a mixture of long-term and short-term debt finance that is designed to ensure the group has sufficient available funds for operations and planned extensions. |
| Interest rate cash flow risk |
| The group has interest bearing liabilities. |
| Credit risk |
| The group has implemented policies that require appropriate credit checks on potential customers before sales are made. The amount of exposure to individual customers is subject to a limit, which is reassessed regularly by the board. |
| Price risk |
| The group is exposed to commodity price risk as a result of its operations. However, given the size of the group's operations, the costs of managing exposure to commodity price risk exceed any potential benefits. The directors will revisit the appropriateness of this policy should the group's operations change in size or nature. |
| POLITICAL DONATIONS AND EXPENDITURE |
| Donations paid during the year amounted to £17,552 none of which related to political organisations. |
| EMPLOYMENT OF DISABLED PERSONS |
| Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the |
| applicant concerned. |
| In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the |
| company continues and that the appropriate training is arranged. |
| It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees. |
| HEALTH AND SAFETY AT WORK |
| Our yard managers are responsible for the health, safety and welfare of employees. We also continue to support the health and safety policies of our customers and the industry generally. |
| EMPLOYEE INVOLVEMENT |
| Our workforce are our most important and valuable asset. They operate at the heart of our operations and the forefront of our activities and developments on a day to day basis. In addition regular meetings are held to discuss activity and performance and opportunity is given for management to be questioned on all areas that affect our employees. We encourage an open door policy of involvement and close cooperation. |
| KILLOUGHERY HOLDINGS LTD (REGISTERED NUMBER: 03306495) |
| REPORT OF THE DIRECTOR |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| STATEMENT OF DIRECTOR'S RESPONSIBILITIES |
| The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations. |
| Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group 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 director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he 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 group's auditors are aware of that information. |
| AUDITORS |
| The auditors, ESW Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| ON BEHALF OF THE BOARD: |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| KILLOUGHERY HOLDINGS LTD |
| Opinion |
| We have audited the financial statements of Killoughery Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 30th September 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 30th September 2024 and of the group's 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 group 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 director's 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 group's and the parent 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 director with respect to going concern are described in the relevant sections of this report. |
| Other information |
| The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, 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 Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - | the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| KILLOUGHERY HOLDINGS LTD |
| Matters on which we are required to report by exception |
| In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director. |
| 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
| - | the parent company financial statements are not in agreement with the accounting records and returns; or |
| - | certain disclosures of director's remuneration specified by law are not made; or |
| - | we have not received all the information and explanations we require for our audit. |
| Responsibilities of director |
| As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is 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 director determines 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 director is responsible for assessing the group's and the parent 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 director either intends to liquidate the group or the parent company or to cease operations, or has 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. |
| The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| The company is subject to numerous laws and regulations that could reasonably be expected to have a material effect on the financial statements. From our general commercial experience and discussion with management, we identified the following laws and regulations; waste carrier licences, environmental regulations, employment laws and regulations, health and safety, employment taxes, financial reporting and distributable profits. |
| Our audit procedures to address potential fraud and non-compliance with laws and regulations included: |
| - Enquiry of management regarding compliance with relevant laws and regulations, and any litigation or claims |
| - Review of legal correspondence and documentation |
| - Performance of analytical review to identify unexpected account movements and investigation of variances |
| - Assessment of potential management override by review of journals and unusual accounting entries |
| - Inspection of third-party supporting documentation |
| - Identification and review of transactions with related parties |
| - Review of year end cut-off and after date transactions |
| - Reconciliation of intercompany balances |
| 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 Report of the Auditors. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| KILLOUGHERY HOLDINGS LTD |
| 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. |
| for and on behalf of |
| Chartered Accountants |
| & Registered Auditors |
| 162-164 High Street |
| Rayleigh |
| Essex |
| SS6 7BS |
| KILLOUGHERY HOLDINGS LTD (REGISTERED NUMBER: 03306495) |
| CONSOLIDATED |
| INCOME STATEMENT |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| TURNOVER | 3 | 14,496,539 | 14,504,918 |
| Cost of sales | (9,959,360 | ) | (8,757,410 | ) |
| GROSS PROFIT | 4,537,179 | 5,747,508 |
| Administrative expenses | (2,199,302 | ) | (2,559,608 | ) |
| OPERATING PROFIT | 5 | 2,337,877 | 3,187,900 |
| Interest receivable and similar income | 12,528 | 82,852 |
| 2,350,405 | 3,270,752 |
| Gain/loss on revaluation of investment property |
- |
275,442 |
| 2,350,405 | 3,546,194 |
| Interest payable and similar expenses | 6 | (199,000 | ) | (325,486 | ) |
| PROFIT BEFORE TAXATION | 2,151,405 | 3,220,708 |
| Tax on profit | 7 | (537,850 | ) | (730,593 | ) |
| PROFIT FOR THE FINANCIAL YEAR |
| Profit attributable to: |
| Owners of the parent | 1,613,555 | 2,490,115 |
| KILLOUGHERY HOLDINGS LTD (REGISTERED NUMBER: 03306495) |
| CONSOLIDATED |
| OTHER COMPREHENSIVE INCOME |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| PROFIT FOR THE YEAR | 1,613,555 | 2,490,115 |
| OTHER COMPREHENSIVE INCOME |
| Purchase of own shares | - | (1,198,300 | ) |
| Income tax relating to other comprehensive income |
- |
- |
| OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX |
- |
(1,198,300 |
) |
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
1,613,555 |
1,291,815 |
| Total comprehensive income attributable to: |
| Owners of the parent | 1,613,555 | 1,291,815 |
| KILLOUGHERY HOLDINGS LTD (REGISTERED NUMBER: 03306495) |
| CONSOLIDATED BALANCE SHEET |
| 30TH SEPTEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 9 | 6,307,411 | 6,114,129 |
| Investments | 10 | - | - |
| Investment property | 11 | 14,400,000 | 14,400,000 |
| 20,707,411 | 20,514,129 |
| CURRENT ASSETS |
| Stocks | 12 | 51,500 | 29,500 |
| Debtors | 13 | 7,228,399 | 9,444,876 |
| Cash at bank | 3,720,644 | 1,177,736 |
| 11,000,543 | 10,652,112 |
| CREDITORS |
| Amounts falling due within one year | 14 | (3,847,559 | ) | (3,834,814 | ) |
| NET CURRENT ASSETS | 7,152,984 | 6,817,298 |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
27,860,395 |
27,331,427 |
| CREDITORS |
| Amounts falling due after more than one year |
15 |
(2,029,067 |
) |
(3,162,839 |
) |
| PROVISIONS FOR LIABILITIES | 19 | (6,024,925 | ) | (5,975,740 | ) |
| NET ASSETS | 19,806,403 | 18,192,848 |
| CAPITAL AND RESERVES |
| Called up share capital | 20 | 8,300 | 8,300 |
| Capital redemption reserve | 21 | 1,700 | 1,700 |
| Fair value reserve | 21 | 3,710,456 | 3,710,456 |
| Retained earnings | 21 | 16,085,947 | 14,472,392 |
| SHAREHOLDERS' FUNDS | 19,806,403 | 18,192,848 |
| The financial statements were approved by the director and authorised for issue on 19th June 2025 and were signed by: |
| J Killoughery - Director |
| KILLOUGHERY HOLDINGS LTD (REGISTERED NUMBER: 03306495) |
| COMPANY BALANCE SHEET |
| 30TH SEPTEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 9 |
| Investments | 10 |
| Investment property | 11 |
| CURRENT ASSETS |
| Debtors | 13 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 14 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 20 |
| Capital redemption reserve | 21 |
| Retained earnings | 21 |
| SHAREHOLDERS' FUNDS |
| Company's profit for the financial year | 1,499,319 | 1,765,976 |
| The financial statements were approved by the director and authorised for issue on |
| KILLOUGHERY HOLDINGS LTD (REGISTERED NUMBER: 03306495) |
| CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| Called up | Capital | Fair |
| share | Retained | redemption | value | Total |
| capital | earnings | reserve | reserve | equity |
| £ | £ | £ | £ | £ |
| Balance at 1st October 2022 | 10,000 | 13,388,858 | - | 3,503,875 | 16,902,733 |
| Changes in equity |
| Issue of share capital | (1,700 | ) | - | - | - | (1,700 | ) |
| Total comprehensive income | - | 1,083,534 | 1,700 | 206,581 | 1,291,815 |
| Balance at 30th September 2023 | 8,300 | 14,472,392 | 1,700 | 3,710,456 | 18,192,848 |
| Changes in equity |
| Total comprehensive income | - | 1,613,555 | - | - | 1,613,555 |
| Balance at 30th September 2024 | 8,300 | 16,085,947 | 1,700 | 3,710,456 | 19,806,403 |
| KILLOUGHERY HOLDINGS LTD (REGISTERED NUMBER: 03306495) |
| COMPANY STATEMENT OF CHANGES IN EQUITY |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| Called up | Capital |
| share | Retained | redemption | Total |
| capital | earnings | reserve | equity |
| £ | £ | £ | £ |
| Balance at 1st October 2022 |
| Changes in equity |
| Issue of share capital | ( |
) | - | - | ( |
) |
| Total comprehensive income | - |
| Balance at 30th September 2023 |
| Changes in equity |
| Total comprehensive income | - |
| Balance at 30th September 2024 |
| KILLOUGHERY HOLDINGS LTD (REGISTERED NUMBER: 03306495) |
| CONSOLIDATED CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 | 5,739,733 | 2,594,348 |
| Interest paid | (132,888 | ) | (259,294 | ) |
| Interest element of hire purchase payments paid |
(66,112 |
) |
(66,192 |
) |
| Tax paid | (594,538 | ) | - |
| Net cash from operating activities | 4,946,195 | 2,268,862 |
| Cash flows from investing activities |
| Purchase of tangible fixed assets | (651,383 | ) | (171,021 | ) |
| Sale of tangible fixed assets | - | 31,000 |
| Interest received | 12,528 | 82,852 |
| Net cash from investing activities | (638,855 | ) | (57,169 | ) |
| Cash flows from financing activities |
| Bank loan repayments in year | (755,660 | ) | (698,183 | ) |
| Capital repayments in year | (1,011,008 | ) | (1,090,853 | ) |
| Amount introduced by directors | 2,236 | - |
| Purchase of own shares | - | (1,200,000 | ) |
| Net cash from financing activities | (1,764,432 | ) | (2,989,036 | ) |
| Increase/(decrease) in cash and cash equivalents | 2,542,908 | (777,343 | ) |
| Cash and cash equivalents at beginning of year |
2 |
1,177,736 |
1,955,079 |
| Cash and cash equivalents at end of year | 2 | 3,720,644 | 1,177,736 |
| KILLOUGHERY HOLDINGS LTD (REGISTERED NUMBER: 03306495) |
| NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
| 2024 | 2023 |
| £ | £ |
| Profit before taxation | 2,151,405 | 3,220,708 |
| Depreciation charges | 848,101 | 894,135 |
| Loss on disposal of fixed assets | - | 419 |
| Gain on revaluation of fixed assets | - | (275,442 | ) |
| Finance costs | 199,000 | 325,486 |
| Finance income | (12,528 | ) | (82,852 | ) |
| 3,185,978 | 4,082,454 |
| (Increase)/decrease in stocks | (22,000 | ) | 28,000 |
| Decrease/(increase) in trade and other debtors | 2,209,887 | (2,128,141 | ) |
| Increase in trade and other creditors | 365,868 | 612,035 |
| Cash generated from operations | 5,739,733 | 2,594,348 |
| 2. | CASH AND CASH EQUIVALENTS |
| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
| Year ended 30th September 2024 |
| 30.9.24 | 1.10.23 |
| £ | £ |
| Cash and cash equivalents | 3,720,644 | 1,177,736 |
| Year ended 30th September 2023 |
| 30.9.23 | 1.10.22 |
| £ | £ |
| Cash and cash equivalents | 1,177,736 | 1,955,079 |
| 3. | ANALYSIS OF CHANGES IN NET DEBT |
| At 1.10.23 | Cash flow | At 30.9.24 |
| £ | £ | £ |
| Net cash |
| Cash at bank | 1,177,736 | 2,542,908 | 3,720,644 |
| 1,177,736 | 2,542,908 | 3,720,644 |
| Debt |
| Finance leases | (1,993,721 | ) | 627,598 | (1,366,123 | ) |
| Debts falling due within 1 year | (393,461 | ) | 92,051 | (301,410 | ) |
| Debts falling due after 1 year | (2,048,136 | ) | 663,609 | (1,384,527 | ) |
| (4,435,318 | ) | 1,383,258 | (3,052,060 | ) |
| Total | (3,257,582 | ) | 3,926,166 | 668,584 |
| KILLOUGHERY HOLDINGS LTD (REGISTERED NUMBER: 03306495) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Killoughery Holdings Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Financial Reporting Standard 102 - reduced disclosure exemptions |
| This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements: |
| - Section 4 'Statement of Financial Position' - Reconciliation of the opening and closing number of shares; |
| - Section 7 'Statement of Cash Flows' - Presentation of a statement of cash flow and related notes and disclosures; |
| - Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues' - Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income; |
| - Section 33 'Related Party Disclosures' - Compensation for key management personnel. |
| Basis of consolidation |
| The consolidated financial statements include the accounts of the company and its subsidiary undertakings. The results of subsidiaries acquired or sold are included in the profit and loss account from the date control passes to or from the parent undertaking. Intra-group sales, profits and balances are eliminated in full on consolidation. |
| Turnover |
| Turnover represents the total invoiced value, excluding value added tax, from contract income, plant hire, haulage, waste management and property income during the year. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life. |
| Plant and machinery | - | 12.5% reducing balance basis |
| Fixtures, fittings and equipment | - | 25% reducing balance basis |
| Motor vehicles | - | 25% reducing balance basis |
| In accordance with component accounting provisions of FRS 102 no depreciation is provided on freehold land. No depreciation is provided on freehold buildings on the ground that it would be immaterial. |
| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit and loss. |
| 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. |
| KILLOUGHERY HOLDINGS LTD (REGISTERED NUMBER: 03306495) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Financial instruments |
| The group has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
| Financial instruments are recognised when the group becomes party to the contractual provisions of the instrument. |
| Financial assets and liabilities are offset, with the net amounts 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. |
| Basic financial assets |
| Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. |
| Impairment of financial assets |
| Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. |
| Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit and loss. |
| If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. |
| Derecognition of financial assets |
| Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated party. |
| KILLOUGHERY HOLDINGS LTD (REGISTERED NUMBER: 03306495) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Classification of financial liabilities |
| Financial liabilities 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 group after deducting all of its liabilities. |
| Basic financial liabilities |
| Basic financial liabilities, including trade and other creditors and bank loans, are initially recognised 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. |
| Derecognition of financial liabilities |
| Financial liabilities are derecognised when, and only when, the group's contractual obligations are discharged, cancelled, or they expire. |
| Equity instruments |
| Equity instruments issued by the group are recorded at the fair value of 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 group. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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. |
| Leasing and hire purchase 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 |
| The group operates a defined contribution pension scheme. The pension costs charged in the financial statements represent the contributions paid by the group during the period. |
| KILLOUGHERY HOLDINGS LTD (REGISTERED NUMBER: 03306495) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 3. | TURNOVER |
| The turnover and profit before taxation are attributable to the one principal activity of the group. |
| An analysis of turnover by class of business is given below: |
| 2024 | 2023 |
| £ | £ |
| Rendering of services | 14,496,539 | 14,504,918 |
| 14,496,539 | 14,504,918 |
| An analysis of turnover by geographical market is given below: |
| 2024 | 2023 |
| £ | £ |
| United Kingdom | 14,496,539 | 14,504,918 |
| 14,496,539 | 14,504,918 |
| 4. | EMPLOYEES AND DIRECTORS |
| 2024 | 2023 |
| £ | £ |
| Wages and salaries | 851,904 | 1,760,300 |
| Social security costs | 66,820 | 73,252 |
| Other pension costs | 12,778 | 14,674 |
| 931,502 | 1,848,226 |
| The average number of employees during the year was as follows: |
| 2024 | 2023 |
| Directors | 1 | 1 |
| Direct labour | 19 | 20 |
| Administration | 2 | 3 |
| 2024 | 2023 |
| £ | £ |
| Director's remuneration | - | - |
| The number of directors to whom retirement benefits were accruing was as follows: |
| Money purchase schemes | 1 | 1 |
| KILLOUGHERY HOLDINGS LTD (REGISTERED NUMBER: 03306495) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 5. | OPERATING PROFIT |
| The operating profit is stated after charging: |
| 2024 | 2023 |
| £ | £ |
| Hire of plant and machinery | 315,946 | 380,253 |
| Depreciation - owned assets | 848,101 | 938,958 |
| Loss on disposal of fixed assets | - | 419 |
| Auditors' remuneration | 24,300 | 25,500 |
| Auditors' remuneration for non audit work | 2,500 | 2,500 |
| Depreciation of tangible fixed assets includes £489,810 (2023 - £523,779) relating to assets held under finance lease agreements. |
| 6. | INTEREST PAYABLE AND SIMILAR EXPENSES |
| 2024 | 2023 |
| £ | £ |
| Mortgage | 132,888 | 259,294 |
| Hire purchase interest and finance lease charges |
66,112 |
66,192 |
| 199,000 | 325,486 |
| 7. | TAXATION |
| Analysis of the tax charge |
| The tax charge on the profit for the year was as follows: |
| 2024 | 2023 |
| £ | £ |
| Current tax: |
| UK corporation tax | 488,665 | 594,406 |
| Deferred tax | 49,185 | 136,187 |
| Tax on profit | 537,850 | 730,593 |
| KILLOUGHERY HOLDINGS LTD (REGISTERED NUMBER: 03306495) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 7. | TAXATION - continued |
| Reconciliation of total tax 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 | 2,151,405 | 3,220,708 |
| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2023 - 25 %) |
537,851 |
805,177 |
| Effects of: |
| Expenses not deductible for tax purposes | - | 804 |
| Income not taxable for tax purposes | - | (68,861 | ) |
| Capital allowances in excess of depreciation | (49,186 | ) | - |
| Depreciation in excess of capital allowances | - | 125,643 |
| Utilisation of tax losses | - | (187,529 | ) |
| (Profit)/Loss on disposal of fixed assets | - | 104 |
| Deferred taxation | 49,185 | 136,187 |
| Change in tax rate | - | (80,817 | ) |
| Marginal relief | - | (115 | ) |
| Total tax charge | 537,850 | 730,593 |
| Tax effects relating to effects of other comprehensive income |
| There were no tax effects for the year ended 30th September 2024. |
| 2023 |
| Gross | Tax | Net |
| £ | £ | £ |
| Purchase of own shares | (1,198,300 | ) | - | (1,198,300 | ) |
| 8. | INDIVIDUAL INCOME STATEMENT |
| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
| KILLOUGHERY HOLDINGS LTD (REGISTERED NUMBER: 03306495) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 9. | TANGIBLE FIXED ASSETS |
| Group |
| Fixtures |
| Plant and | and | Motor |
| machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1st October 2023 | 10,081,968 | 157,560 | 213,733 | 10,453,261 |
| Additions | 985,972 | 6,535 | 48,876 | 1,041,383 |
| At 30th September 2024 | 11,067,940 | 164,095 | 262,609 | 11,494,644 |
| DEPRECIATION |
| At 1st October 2023 | 4,135,439 | 71,460 | 132,233 | 4,339,132 |
| Charge for year | 796,683 | 22,189 | 29,229 | 848,101 |
| At 30th September 2024 | 4,932,122 | 93,649 | 161,462 | 5,187,233 |
| NET BOOK VALUE |
| At 30th September 2024 | 6,135,818 | 70,446 | 101,147 | 6,307,411 |
| At 30th September 2023 | 5,946,529 | 86,100 | 81,500 | 6,114,129 |
| Included above are assets held under hire purchase contracts and finance leases whose net book value at the balance sheet date amounted to £3,552,928 (2023 - £3,652,738). |
| 10. | FIXED ASSET INVESTMENTS |
| Company |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1st October 2023 |
| Additions |
| At 30th September 2024 |
| NET BOOK VALUE |
| At 30th September 2024 |
| At 30th September 2023 |
| The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Subsidiaries |
| Registered office: 43a Willow Lane, Mitcham, Surrey, CR4 4NA |
| Nature of business: |
| % |
| Class of shares: | holding |
| KILLOUGHERY HOLDINGS LTD (REGISTERED NUMBER: 03306495) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 10. | FIXED ASSET INVESTMENTS - continued |
| Registered office: 43a Willow Lane, Mitcham, Surrey, CR4 4NA |
| Nature of business: |
| % |
| Class of shares: | holding |
| Registered office: 43a Willow Lane, Mitcham, Surrey, CR4 4NA |
| Nature of business: |
| % |
| Class of shares: | holding |
| 11. | INVESTMENT PROPERTY |
| Group |
| Total |
| £ |
| FAIR VALUE |
| At 1st October 2023 |
| and 30th September 2024 | 14,400,000 |
| NET BOOK VALUE |
| At 30th September 2024 | 14,400,000 |
| At 30th September 2023 | 14,400,000 |
| Fair value at 30th September 2024 is represented by: |
| £ |
| Valuation in 2020 | 1,622,500 |
| Valuation in 2022 | 3,049,333 |
| Valuation in 2023 | 275,442 |
| Cost | 9,452,725 |
| 14,400,000 |
| The directors have estimated the fair value of the group's investment properties. The value of one property has been based upon market specific rental yields published by a UK national commercial real estate consultancy, the remaining properties were valued in November 2021 by a UK national Chartered Surveyor. |
| 12. | STOCKS |
| Group |
| 2024 | 2023 |
| £ | £ |
| Consumables | 51,500 | 29,500 |
| KILLOUGHERY HOLDINGS LTD (REGISTERED NUMBER: 03306495) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 13. | DEBTORS |
| Group | Company |
| 2024 | 2023 | 2024 | 2023 |
| £ | £ | £ | £ |
| Amounts falling due within one year: |
| Trade debtors | 3,108,046 | 3,540,855 |
| Amounts owed by group undertakings | - | - |
| Other debtors | 21,073 | 1,040,163 |
| Prepayments | 523,588 | 642,958 |
| 3,652,707 | 5,223,976 |
| Amounts falling due after more than one | year: |
| Other debtors | 3,575,692 | 4,220,900 |
| Aggregate amounts | 7,228,399 | 9,444,876 |
| 14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group | Company |
| 2024 | 2023 | 2024 | 2023 |
| £ | £ | £ | £ |
| Bank loans and overdrafts (see note 16) | 301,410 | 393,461 |
| Hire purchase contracts (see note 17) | 721,583 | 879,018 |
| Trade creditors | 1,917,901 | 1,338,813 |
| Amounts owed to group undertakings | - | - |
| Tax | 488,533 | 594,406 |
| Social security and other taxes | 22,274 | 62,585 |
| VAT | 160,443 | 205,573 | - | 770 |
| Other creditors | 30,042 | 34,270 |
| Directors' current accounts | 2,236 | - | - | - |
| Accruals and deferred income | 203,137 | 326,688 |
| 3,847,559 | 3,834,814 |
| 15. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| Group |
| 2024 | 2023 |
| £ | £ |
| Bank loans (see note 16) | 1,384,527 | 2,048,136 |
| Hire purchase contracts (see note 17) | 644,540 | 1,114,703 |
| 2,029,067 | 3,162,839 |
| KILLOUGHERY HOLDINGS LTD (REGISTERED NUMBER: 03306495) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 16. | LOANS |
| An analysis of the maturity of loans is given below: |
| Group |
| 2024 | 2023 |
| £ | £ |
| Amounts falling due within one year or on | demand: |
| Bank loans | 301,410 | 393,461 |
| Amounts falling due between two and five | years: |
| Bank loans - 2-5 years | 1,205,638 | 1,573,842 |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more than 5 years |
| by instalments | 178,889 | 474,294 |
| 178,889 | 474,294 |
| 17. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Group |
| Hire purchase contracts |
| 2024 | 2023 |
| £ | £ |
| Gross obligations repayable: |
| Within one year | 783,076 | 939,500 |
| Between one and five years | 695,471 | 1,200,357 |
| 1,478,547 | 2,139,857 |
| Finance charges repayable: |
| Within one year | 61,493 | 60,482 |
| Between one and five years | 50,931 | 85,654 |
| 112,424 | 146,136 |
| Net obligations repayable: |
| Within one year | 721,583 | 879,018 |
| Between one and five years | 644,540 | 1,114,703 |
| 1,366,123 | 1,993,721 |
| KILLOUGHERY HOLDINGS LTD (REGISTERED NUMBER: 03306495) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 17. | LEASING AGREEMENTS - continued |
| Group |
| Non-cancellable operating | leases |
| 2024 | 2023 |
| £ | £ |
| Within one year | 220,000 | 220,000 |
| Between one and five years | 110,000 | 330,000 |
| 330,000 | 550,000 |
| 18. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| Group |
| 2024 | 2023 |
| £ | £ |
| Bank loans | 1,685,937 | 2,441,597 |
| Hire purchase contracts | 1,366,123 | 1,993,721 |
| 3,052,060 | 4,435,318 |
| The hire purchase agreements are secured on the asset to which they relate. |
| The bank facilities are secured by a debenture over the whole of the group's assets, and cross guarantees by all of the group members. |
| The group's invoice discounting facility is secured by a fixed and floating charge over the trade debt to which it relates. |
| 19. | PROVISIONS FOR LIABILITIES |
| Group |
| 2024 | 2023 |
| £ | £ |
| Deferred tax | 4,324,925 | 4,275,740 |
| Other provisions | 1,700,000 | 1,700,000 |
| Aggregate amounts | 6,024,925 | 5,975,740 |
| Group |
| Deferred |
| tax |
| £ |
| Balance at 1st October 2023 | 4,275,740 |
| Accelerated capital allowances | 49,185 |
| Balance at 30th September 2024 | 4,324,925 |
| KILLOUGHERY HOLDINGS LTD (REGISTERED NUMBER: 03306495) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 19. | PROVISIONS FOR LIABILITIES - continued |
| In March 2011 the group entered into a lease in respect of land situated at Purfleet, Essex. |
| As part of the agreement, the group paid a security deposit of £1,700,000 to the landlord relating to the estimated costs of clearing the group's materials from the site comprising aggregates, waste, building materials etc. The deposit will be released upon the group vacating the site and removing the materials, and is included within Other Debtors falling due after more than one year. |
| In recognition of the group's future commitment for costs to clear the site, a similar provision of £1,700,000 is included within Provisions for Liabilities. |
| 20. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | 8,300 | 8,300 |
| 21. | RESERVES |
| Group |
| Capital | Fair |
| Retained | redemption | value |
| earnings | reserve | reserve | Totals |
| £ | £ | £ | £ |
| At 1st October 2023 | 14,472,392 | 1,700 | 3,710,456 | 18,184,548 |
| Profit for the year | 1,613,555 | 1,613,555 |
| At 30th September 2024 | 16,085,947 | 1,700 | 3,710,456 | 19,798,103 |
| Company |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1st October 2023 | 6,164,526 |
| Profit for the year |
| At 30th September 2024 | 7,663,845 |
| 22. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements. |
| KILLOUGHERY HOLDINGS LTD (REGISTERED NUMBER: 03306495) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 22. | RELATED PARTY DISCLOSURES - continued |
| During the year the group was related to The George Killoughery Limited Executive Retirement Benefits Scheme, Tearman Limited, Tearman LLP, Waterwise Limited and G.J. Killoughery Limited by virtue of all being under the control of the Killoughery family. |
| It is also related to Killoughery Holdings Limited and Killoughery Properties Limited by virtue of being group companies. |
| During the period the group undertook the following transactions with its related undertakings. |
| Company | Nature of transaction | 2024 | 2023 |
| Waterwise Limited | Sales | 11,278 | 35,985 |
| Waterwise Limited | Purchases | - | 480,000 |
| Tearman Limited | Sales | - | 1,560 |
| Agricultural Holdings Limited | Sales | - | 12,171 |
| G.J. Killoughery Limited | Sales | 620,684 | 840,451 |
| G.J. Killoughery Limited | Purchases | 412,938 | 614,656 |
| As at the balance sheet date the financial statements included the following balances with related parties; |
| 2024 | 2023 |
| £ | £ |
| Tearman Limited | Other debtors | 1,875,692 | 2,520,901 |
| Killoughery Waste Management Limited | Other creditors | - | 16,690 |
| 23. | ULTIMATE CONTROLLING PARTY |
| The group was under the control of Mr J Killoughery throughout the current period by way of his majority shareholding. |