Company registration number 00739627 (England and Wales)
K C HICKSON LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
K C HICKSON LIMITED
CONTENTS
PAGE
Balance sheet
1
Notes to the financial statements
2 - 7
K C HICKSON LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
FIXED ASSETS
Intangible assets
-
0
-
0
Tangible assets
4
2,166
2,867
CURRENT ASSETS
Debtors
5
38,243
55,091
Cash at bank and in hand
25,490
7,959
63,733
63,050
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
6
(45,069)
(75,675)
NET CURRENT ASSETS/(LIABILITIES)
18,664
(12,625)
NET ASSETS/(LIABILITIES)
20,830
(9,758)
CAPITAL AND RESERVES
Called up share capital
8
10,000
10,000
Share premium account
6,000
6,000
Profit and loss reserves
4,830
(25,758)
TOTAL EQUITY
20,830
(9,758)

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 14 October 2025
Mrs S S Hunt
DIRECTOR
Company registration number 00739627 (England and Wales)
K C HICKSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 2 -
1
ACCOUNTING POLICIES
COMPANY INFORMATION

K C Hickson Limited is a private company limited by shares incorporated in England and Wales. The registered office is Lionel Works, 89-91 Rolfe Street, Smethwick, West Midlands, B66 2AY.

1.1
BASIS OF PREPARATION

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
GOING CONCERN

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future.true

1.3
REVENUE

Turnover represents the fair value of work done for services rendered to client during the year, excluding VAT.

Turnover is recognised when a right to consideration has been obtained through performance under each contract and reflects the contract activity during the year.

Unbilled revenue is included in the balance sheet as 'Amounts recoverable on contracts'.

1.4
TANGIBLE FIXED ASSETS

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
15% on reducing balance
Computer and office equipment
33% on cost
Motor vehicles
25% on reducing balance

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 or loss.

1.5
IMPAIRMENT OF FIXED ASSETS

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

K C HICKSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
ACCOUNTING POLICIES
(Continued)
- 3 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
CASH AND CASH EQUIVALENTS

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
FINANCIAL INSTRUMENTS

The company 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 in the company's balance sheet when the company 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 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 unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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 company after deducting all of its liabilities.

K C HICKSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
ACCOUNTING POLICIES
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
EQUITY INSTRUMENTS

Equity instruments issued by the company are recorded at the 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 company.

1.9
EMPLOYEE BENEFITS

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
RETIREMENT BENEFITS

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
EMPLOYEES

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
K C HICKSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 5 -
4
TANGIBLE FIXED ASSETS
Fixtures, fittings & equipment
Computer and office equipment
Motor vehicles
Total
£
£
£
£
COST
At 1 December 2023 and 30 November 2024
3,778
3,748
34,245
41,771
DEPRECIATION AND IMPAIRMENT
At 1 December 2023
3,613
3,748
31,543
38,904
Depreciation charged in the year
25
-
0
676
701
At 30 November 2024
3,638
3,748
32,219
39,605
CARRYING AMOUNT
At 30 November 2024
140
-
0
2,026
2,166
At 30 November 2023
165
-
0
2,702
2,867
5
DEBTORS
2024
2023
AMOUNTS FALLING DUE WITHIN ONE YEAR:
£
£
Trade debtors
36,619
53,476
Amounts recoverable on contracts
632
777
Other debtors
209
209
Prepayments and accrued income
783
629
38,243
55,091
6
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
Trade creditors
11,417
40,769
Other taxation and social security
10,748
11,858
Other creditors
22,904
23,048
45,069
75,675
7
RETIREMENT BENEFIT SCHEMES
2024
2023
DEFINED CONTRIBUTION SCHEMES
£
£
Charge to profit or loss in respect of defined contribution schemes
3,120
2,846

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

K C HICKSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 6 -
8
CALLED UP SHARE CAPITAL
2024
2023
2024
2023
ORDINARY SHARE CAPITAL
Number
Number
£
£
ISSUED AND FULLY PAID
Ordinary of £1 each
10,000
10,000
10,000
10,000
9
AUDIT REPORT INFORMATION

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

The senior statutory auditor was Neal Aston FCA FCCA and the auditor was JW Hinks LLP.
10
RELATED PARTY TRANSACTIONS

The company has taken advantage of Section 33 of FRS102 related party disclosures, not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year, the brother-in-law of M Cooper (shareholder of Smethwick Maintenance Company Limited) owed the company £184 (2023: £184).

11
PARENT COMPANY

The company is a subsidiary of Smethwick Maintenance Company Limited, a company incorporated in England.

The consolidated financial statements of Smethwick Maintenance Company Limited are available from their registered office, 336 Spon Lane South, West Bromwich, West Midlands, B70 6AZ.

12
PRIOR PERIOD ADJUSTMENT

A prior year adjustment has been included in respect of the year ended 30 November 2023. The adjustment relates to amounts written back in respect of inter company balances to the value of £1,013,768. This has resulted in an increase of Profit and Loss Account reserves of £1,013,768 as at 30 November 2023.

CHANGES TO THE BALANCE SHEET
As previously reported
Adjustment
As restated at 30 Nov 2023
£
£
£
CURRENT ASSETS
Debtors due within one year
557,227
(502,136)
55,091
CREDITORS DUE WITHIN ONE YEAR
Other creditors
(1,579,721)
1,515,904
(63,817)
Net assets
(1,023,526)
1,013,768
(9,758)
CAPITAL AND RESERVES
Profit and loss reserves
(1,039,526)
1,013,768
(25,758)
K C HICKSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
12
PRIOR PERIOD ADJUSTMENT
(Continued)
- 7 -
CHANGES TO THE PROFIT AND LOSS ACCOUNT
As previously reported
Adjustment
As restated
PERIOD ENDED 30 NOVEMBER 2023
£
£
£
Exceptional items
-
1,013,768
1,013,768
(Loss)/profit for the financial period
(76,371)
1,013,768
937,397
RECONCILIATION OF CHANGES IN EQUITY
1 December
30 November
2022
2023
£
£
ADJUSTMENTS TO PRIOR YEAR
-
1,013,768
Equity as previously reported
(947,155)
(1,023,526)
Equity as adjusted
(947,155)
(9,758)
ANALYSIS OF THE EFFECT UPON EQUITY
Profit and loss reserves
-
1,013,768
RECONCILIATION OF CHANGES IN (LOSS)/PROFIT FOR THE PREVIOUS FINANCIAL PERIOD
2023
£
ADJUSTMENTS TO PRIOR YEAR
1,013,768
Loss as previously reported
(76,371)
Profit as adjusted
937,397
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