IRIS Accounts Production v25.1.4.42 03758292 director 1.10.23 30.9.24 30.9.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh037582922023-09-30037582922024-09-30037582922023-10-012024-09-30037582922022-08-31037582922022-09-012023-09-30037582922023-09-3003758292ns15:EnglandWales2023-10-012024-09-3003758292ns14:PoundSterling2023-10-012024-09-3003758292ns10:Director12023-10-012024-09-3003758292ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3003758292ns10:SmallEntities2023-10-012024-09-3003758292ns10:AuditExemptWithAccountantsReport2023-10-012024-09-3003758292ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3003758292ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3003758292ns10:FullAccounts2023-10-012024-09-3003758292ns10:RegisteredOffice2023-10-012024-09-3003758292ns5:CurrentFinancialInstruments2024-09-3003758292ns5:CurrentFinancialInstruments2023-09-3003758292ns5:Non-currentFinancialInstruments2024-09-3003758292ns5:Non-currentFinancialInstruments2023-09-3003758292ns5:ShareCapital2024-09-3003758292ns5:ShareCapital2023-09-3003758292ns5:RetainedEarningsAccumulatedLosses2024-09-3003758292ns5:RetainedEarningsAccumulatedLosses2023-09-3003758292ns5:PlantMachinery2023-10-012024-09-3003758292ns5:FurnitureFittings2023-10-012024-09-3003758292ns5:ComputerEquipment2023-10-012024-09-3003758292ns5:PlantMachinery2023-09-3003758292ns5:FurnitureFittings2023-09-3003758292ns5:ComputerEquipment2023-09-3003758292ns5:PlantMachinery2024-09-3003758292ns5:FurnitureFittings2024-09-3003758292ns5:ComputerEquipment2024-09-3003758292ns5:PlantMachinery2023-09-3003758292ns5:FurnitureFittings2023-09-3003758292ns5:ComputerEquipment2023-09-3003758292ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-10-012024-09-3003758292ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-09-3003758292ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3003758292ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-3003758292ns5:WithinOneYearns5:HirePurchaseContracts2024-09-3003758292ns5:WithinOneYearns5:HirePurchaseContracts2023-09-3003758292ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-09-3003758292ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-09-3003758292ns5:HirePurchaseContracts2024-09-3003758292ns5:HirePurchaseContracts2023-09-3003758292ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-09-3003758292ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-09-3003758292ns5:WithinOneYear2024-09-3003758292ns5:WithinOneYear2023-09-3003758292ns5:BetweenOneFiveYears2024-09-3003758292ns5:BetweenOneFiveYears2023-09-3003758292ns5:MoreThanFiveYears2024-09-3003758292ns5:MoreThanFiveYears2023-09-3003758292ns5:AllPeriods2024-09-3003758292ns5:AllPeriods2023-09-3003758292ns5:Secured2024-09-3003758292ns5:Secured2023-09-30
REGISTERED NUMBER: 03758292 (England and Wales)





















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

KG WASHFORD LIMITED

KG WASHFORD LIMITED (REGISTERED NUMBER: 03758292)






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




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


KG WASHFORD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: Mr B P Draper





REGISTERED OFFICE: c/o Peak Analysis and Automation Limited
Unit 6 Armstrong Mall
Southwood Business Park
Farnborough
Hampshire
GU14 0NR





REGISTERED NUMBER: 03758292 (England and Wales)





ACCOUNTANTS: E R Grove & Co Limited
Chartered Accountants
Grove House
Coombs Wood Court
Steel Park Road
Halesowen
West Midlands
B62 8BF

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
KG WASHFORD LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of KG Washford Limited for the year ended 30 September 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of KG Washford Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of KG Washford Limited and state those matters that we have agreed to state to the director of KG Washford Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KG Washford Limited and its director for our work or for this report.

It is your duty to ensure that KG Washford Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of KG Washford Limited. You consider that KG Washford Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of KG Washford Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






E R Grove & Co Limited
Chartered Accountants
Grove House
Coombs Wood Court
Steel Park Road
Halesowen
West Midlands
B62 8BF


3 June 2025

KG WASHFORD LIMITED (REGISTERED NUMBER: 03758292)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 94,178 86,756

CURRENT ASSETS
Stocks 21,102 -
Debtors 5 208,110 258,206
Cash at bank and in hand 12,996 14,790
242,208 272,996
CREDITORS
Amounts falling due within one year 6 454,068 489,188
NET CURRENT LIABILITIES (211,860 ) (216,192 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(117,682

)

(129,436

)

CREDITORS
Amounts falling due after more than one
year

7

(27,135

)

(23,847

)

PROVISIONS FOR LIABILITIES (17,642 ) (16,173 )
NET LIABILITIES (162,459 ) (169,456 )

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings (162,759 ) (169,756 )
SHAREHOLDERS' FUNDS (162,459 ) (169,456 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 3 June 2025 and were signed by:





Mr B P Draper - Director


KG WASHFORD LIMITED (REGISTERED NUMBER: 03758292)

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

1. STATUTORY INFORMATION

KG Washford 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from manufactured goods is recognised by reference to the stage of completion of the contact. The stage of completion of the contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


KG WASHFORD LIMITED (REGISTERED NUMBER: 03758292)

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

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

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.

Going concern
At 30 September 2024 the company had net current liabilities and a deficiency of assets of £183,385. The company is dependent upon the continued financial support of the directors and shareholders. It is understood that this support will continue. On this basis the directors consider it appropriate to prepare financial statements on a going concern basis. These financial statements do not include any adjustments which would arise if the accounts had not been prepared on a going concern bases.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 October 2023 288,047 16,789 147,349 452,185
Additions 24,243 - - 24,243
At 30 September 2024 312,290 16,789 147,349 476,428
DEPRECIATION
At 1 October 2023 204,232 13,848 147,349 365,429
Charge for year 16,209 612 - 16,821
At 30 September 2024 220,441 14,460 147,349 382,250
NET BOOK VALUE
At 30 September 2024 91,849 2,329 - 94,178
At 30 September 2023 83,815 2,941 - 86,756

KG WASHFORD LIMITED (REGISTERED NUMBER: 03758292)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
Additions 24,000
At 30 September 2024 24,000
DEPRECIATION
Charge for year 3,600
At 30 September 2024 3,600
NET BOOK VALUE
At 30 September 2024 20,400

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 131,083 120,553
Other debtors 77,027 137,653
208,110 258,206

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,911 9,447
Hire purchase contracts (see note 8) 7,200 -
Trade creditors 144,465 145,232
Taxation and social security 168,509 86,277
Other creditors 123,983 248,232
454,068 489,188

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 13,935 23,847
Hire purchase contracts (see note 8) 13,200 -
27,135 23,847

KG WASHFORD LIMITED (REGISTERED NUMBER: 03758292)

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

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 8,985 -
Between one and five years 16,473 -
25,458 -

Finance charges repayable:
Within one year 1,785 -
Between one and five years 3,273 -
5,058 -

Net obligations repayable:
Within one year 7,200 -
Between one and five years 13,200 -
20,400 -

Non-cancellable operating leases
2024 2023
£    £   
Within one year 101,441 69,866
Between one and five years 167,500 235,231
In more than five years 100,500 201,000
369,441 506,097

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 20,400 -
Other creditors 108,445 195,000
128,845 195,000

10. RELATED PARTY DISCLOSURES

2024 2023
£ £

Amounts due from holding company 24,379 95,214

Amount due (to) parent of holding company (108,445 ) (195,000 )

None of the amounts outstanding are interest bearing for the current or previous year.

KG WASHFORD LIMITED (REGISTERED NUMBER: 03758292)

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

11. ULTIMATE CONTROLLING PARTY

K G Washford Limited is a wholly owned subsidiary of KGW Group Limited, a company incorporated in England and Wales. Peak Analysis and Automation Limited has a controlling interest in the company. Directech Global Limited is regarded by the directors as being the company's ultimate parent company.

The accounts of the holding company may be obtained from its registered office address; 6 Armstrong Mall, Southwood Business Park, Farnborough, England, GU14 0NR.