Kings Boiler Hire Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01106907 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2021

for

Kings Boiler Hire Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

H J King

Mrs A F King

Mrs J Ellis

G F King

D L King

SECRETARY:

Mrs J Ellis

REGISTERED OFFICE:

60 North Street

Nazeing

Essex

EN9 2NW

REGISTERED NUMBER:

01106907 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

Milton House

Gatehouse Road

Aylesbury

Buckinghamshire

HP19 8EA

The following reproduces the text of the report prepared for the directors 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 Directors 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 Kings Boiler Hire Limited for the year ended 30 September 2021 which comprise the Statement of Income and Retained Earnings, 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 Board of Directors of Kings Boiler Hire Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kings Boiler Hire Limited and state those matters that we have agreed to state to the Board of Directors of Kings Boiler Hire Limited, as a body, 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 Kings Boiler Hire Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Kings Boiler Hire 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 Kings Boiler Hire Limited. You consider that Kings Boiler Hire 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 Kings Boiler Hire 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.

Haines Watts

Chartered Accountants

Milton House

Gatehouse Road

Aylesbury

Buckinghamshire

HP19 8EA

24 February 2022

FIXED ASSETS

Tangible assets

4

301,675

297,792

CURRENT ASSETS

Stocks

29,957

26,245

Debtors

5

711,202

699,284

Cash at bank and in hand

1,989,407

2,011,959

2,730,566

2,737,488

CREDITORS

Amounts falling due within one year

6

270,981

339,184

NET CURRENT ASSETS

2,459,585

2,398,304

TOTAL ASSETS LESS CURRENT LIABILITIES

2,761,260

2,696,096

CAPITAL AND RESERVES

Called up share capital

500

500

Retained earnings

2,760,760

2,695,596

2,761,260

2,696,096

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 February 2022 and were signed on its behalf by:

H J King - Director

1.	STATUTORY INFORMATION

Kings Boiler Hire 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.

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In particular, in response to the COVID-19 pandemic, the Directors have tested their cash flow analysis to take into account the impact on their business of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

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.

Land and buildings

-

in accordance with the property

Plant and machinery etc

-

25% on cost

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 Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - 18 ).

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2020

211,858

701,910

913,768

Additions

-

67,194

67,194

Disposals

-

(52,500

)

(52,500

)

At 30 September 2021

211,858

716,604

928,462

DEPRECIATION

At 1 October 2020

-

615,976

615,976

Charge for year

-

39,811

39,811

Eliminated on disposal

-

(29,000

)

(29,000

)

At 30 September 2021

-

626,787

626,787

NET BOOK VALUE

At 30 September 2021

211,858

89,817

301,675

At 30 September 2020

211,858

85,934

297,792

5.

DEBTORS

30.9.21

30.9.20

£

£

Amounts falling due within one year:

Trade debtors

123,472

106,712

Amounts owed by group undertakings

587,380

584,641

710,852

691,353

Amounts falling due after more than one year:

Other debtors

350

7,931

Aggregate amounts

711,202

699,284

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Trade creditors

76,096

98,798

Taxation and social security

87,929

143,182

Other creditors

106,956

97,204

270,981

339,184

7.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of L F King & Son Limited a company incorporated in England and Wales.