REGISTERED NUMBER: 01812753 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Kingswood Controls Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

K P Gilliham

SECRETARY:

K P Gilliham

REGISTERED OFFICE:

Workshop 5

CEME Campus

Marsh Way

Rainham

Essex

RM13 8EU

REGISTERED NUMBER:

01812753 (England and Wales)

ACCOUNTANTS:

Anser Solutions!

Chartered Accountants

Suite 1

19 Aviation Way

Southend Airport

Southend on Sea

Essex

SS2 6UN

FIXED ASSETS

Tangible assets

3

10,410

13,818

CURRENT ASSETS

Stocks

30,795

29,885

Debtors

4

103,364

111,160

Cash at bank

362,225

320,122

496,384

461,167

CREDITORS

Amounts falling due within one year

5

174,966

200,165

NET CURRENT ASSETS

321,418

261,002

TOTAL ASSETS LESS CURRENT LIABILITIES

331,828

274,820

CREDITORS

Amounts falling due after more than one year

6

(10,883

)

(23,345

)

PROVISIONS FOR LIABILITIES

(2,603

)

(3,455

)

NET ASSETS

318,342

248,020

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

318,340

248,018

318,342

248,020

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 15 September 2025 and were signed by:

K P Gilliham - Director

1.	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.

Turnover

Turnover 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

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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

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.

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

26,447

DEPRECIATION

At 1 January 2024

12,629

Charge for year

3,408

At 31 December 2024

16,037

NET BOOK VALUE

At 31 December 2024

10,410

At 31 December 2023

13,818

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

20,832

DEPRECIATION

At 1 January 2024

7,487

Charge for year

3,337

At 31 December 2024

10,824

NET BOOK VALUE

At 31 December 2024

10,008

At 31 December 2023

13,345

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

103,364

109,560

Other debtors

-

1,600

103,364

111,160

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

6,866

10,140

Hire purchase contracts

5,596

5,208

Trade creditors

126,873

144,593

Taxation and social security

33,200

31,847

Other creditors

2,431

8,377

174,966

200,165

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

7,940

14,806

Hire purchase contracts

2,943

8,539

10,883

23,345

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Hire purchase contracts

8,539

13,747

Hire purchase liabilities are secured against the assets to which they used to procure.

The bank loan was taken out under the COVID / Bounceback loan legislation and is thus unsecured.