Kinetic Systems Support (UK) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07904027

Kinetic Systems Support (UK) Limited

Filleted Unaudited Financial Statements

31 December 2024

Kinetic Systems Support (UK) Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		596,538	266,720

Current assets

Stocks		110,718	10,044
Debtors	6	1,140,246	1,351,653
Cash at bank and in hand		286,853	415,417
		------------	------------
		1,537,817	1,777,114

Creditors: amounts falling due within one year	7	980,682		628,083
		------------		------------
Net current assets			557,135	1,149,031
			------------	------------
Total assets less current liabilities			1,153,673	1,415,751

Creditors: amounts falling due after more than one year	8		348,530	164,784

Provisions

Taxation including deferred tax	134,242	59,655
	------------	------------
Net assets	670,901	1,191,312
	------------	------------

Capital and reserves

Called up share capital	40	40
Capital redemption reserve	20	20
Profit and loss account	670,841	1,191,252
	---------	------------
Shareholders funds	670,901	1,191,312
	---------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Kinetic Systems Support (UK) Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 11 September 2025 , and are signed on behalf of the board by:

Mr B Greenwood

Director

Company registration number: 07904027

Kinetic Systems Support (UK) Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Greengate, Cardale Park, Harrogate, North Yorkshire, HG3 1GY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Employee ownership trust

Kinetic Employee Ownership Trust has been established with the object of ensuring that shares in the company are held for the benefit of the company's employees and that the eligible employees shall have an interest in the company's business.

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable for the provision of goods to customers outside the company net of returns and sales allowances (and VAT). Revenue from goods is recognised at the point the company fulfils its commercial obligations to the customer, the revenue and costs in respect of the transaction can be measured reliably and collectability is reasonably assured. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	20% straight line
Motor Vehicles	-	25% reducing balance
Equipment	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 22 (2023: 21 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 January 2024	–	12,500	511,181	34,489	558,170
Additions	11,789	–	415,828	–	427,617
Disposals	–	–	( 43,471)	–	( 43,471)
	--------	--------	---------	--------	---------
At 31 December 2024	11,789	12,500	883,538	34,489	942,316
	--------	--------	---------	--------	---------
Depreciation
At 1 January 2024	–	2,708	265,455	23,287	291,450
Charge for the year	–	2,500	78,572	2,653	83,725
Disposals	–	–	( 29,397)	–	( 29,397)
	--------	--------	---------	--------	---------
At 31 December 2024	–	5,208	314,630	25,940	345,778
	--------	--------	---------	--------	---------
Carrying amount
At 31 December 2024	11,789	7,292	568,908	8,549	596,538
	--------	--------	---------	--------	---------
At 31 December 2023	–	9,792	245,726	11,202	266,720
	--------	--------	---------	--------	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Motor vehicles
	£
At 31 December 2024	545,217
	---------
At 31 December 2023	232,809
	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	829,993	484,916
Other debtors	310,253	866,737
	------------	------------
	1,140,246	1,351,653
	------------	------------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	5,556	5,556
Trade creditors	493,065	205,314
Corporation tax	97,816	142,592
Social security and other taxes	35,173	39,807
Other creditors	349,072	234,814
	---------	---------
	980,682	628,083
	---------	---------

The following liabilities disclosed under creditors falling due within one year are secured by the company:

	2024	2023
	£	£
Hire purchase and finance lease agreements	123,006	72,136

The balances are secured on the assets to which they relate by way of a fixed and floating charge.

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	26,852	32,408
Other creditors	321,678	132,376
	---------	---------
	348,530	164,784
	---------	---------

The following liabilities disclosed under creditors falling due after more than one year are secured by the company:

	2024	2023
	£	£
Hire purchase and finance lease agreements	321,678	132,376

The balances are secured on the assets to which they relate by way of a fixed and floating charge.

9. Employee ownership trust

On 21 March 2024 Kss Trustees Limited, being the trustee of Kinetic Employee Ownership Trust acquired 100% of the ordinary share capital of Kinetic Systems Support (UK) Limited .

10. Directors' advances, credits and guarantees

There were no advances during the year.

11. Related party transactions

The company made a gift of £1,029,830 (2023 - £nil) to the Kinetic Employee Ownership Trust. Future gifts will be made at the discretion of the company directors based on available cashflows and the performance of the business.

12. Controlling party

The company is controlled by Kss Trustees Limited, being the trustee of Kinetic Employee Ownership Trust.