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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 December 2017 |
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Kent Supplies (Wrexham) Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 December 2017 |
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for |
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Kent Supplies (Wrexham) Limited |
Kent Supplies (Wrexham) Limited (Registered number: 00933623) |
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Contents of the Financial Statements |
for the year ended 31 December 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Accountants' Report | 8 |
Kent Supplies (Wrexham) Limited |
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Company Information |
for the year ended 31 December 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Broncoed House |
Broncoed Business Park |
Wrexham Road |
Mold |
Flintshire |
CH7 1HP |
Kent Supplies (Wrexham) Limited (Registered number: 00933623) |
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Balance Sheet |
31 December 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Stocks | 7 |
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Debtors | 8 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 9 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
10 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 11 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
Kent Supplies (Wrexham) Limited (Registered number: 00933623) |
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Balance Sheet - continued |
31 December 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Kent Supplies (Wrexham) Limited (Registered number: 00933623) |
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Notes to the Financial Statements |
for the year ended 31 December 2017 |
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1. | STATUTORY INFORMATION |
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Kent Supplies (Wrexham) Limited is a
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The company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price |
of the asset and the costs attributable to bringing the asset to its working condition for its intended use. |
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Depreciation on all assets is calculated to allocate the depreciable amount to their residual values on a systematic |
basis over their estimated useful lives as follows: |
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Improvements to property - 10% on cost |
Plant and machinery - 10% on cost |
Motor vehicles - 20% on cost |
Fixtures & fittings - 2% on cost |
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Investment property |
Investment property is recorded at fair value with movements in value recorded through the profit and loss. |
During the year, the directors have not obtained a formal valuation by an independent valuer but consider the |
investment property to be held at fair value. Deferred tax is provided on these gains at the rate expected to apply |
when the property is sold. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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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. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or |
substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
Kent Supplies (Wrexham) Limited (Registered number: 00933623) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2017 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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Share capital |
Ordinary shares are classed as equity. |
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Short term debtors and creditors |
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising |
from impairment are recognised in the profit and loss account. |
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Distributions to equity holders |
Dividends are recognised as a liability in the financial statements in the period in which the dividends are |
approved by the company's shareholders. These amounts are recognised in the statement of changes in equity. |
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Cash and cash equivalents |
Cash and cash equivalents includes cash in hand and cash held with banks. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2017 |
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Additions |
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Disposals |
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At 31 December 2017 |
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DEPRECIATION |
At 1 January 2017 |
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Charge for year |
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Eliminated on disposal |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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Kent Supplies (Wrexham) Limited (Registered number: 00933623) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2017 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
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COST |
At 1 January 2017 |
and 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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6. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 January 2017 |
and 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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7. | STOCKS |
2017 | 2016 |
£ | £ |
Finished goods |
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8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Kent Supplies (Wrexham) Limited (Registered number: 00933623) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2017 |
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10. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts |
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11. | RESERVES |
Revaluation |
reserve |
£ |
At 1 January 2017 |
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Transfer | 2,595 |
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At 31 December 2017 |
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Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Kent Supplies (Wrexham) Limited |
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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. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Kent Supplies (Wrexham) Limited for the year ended 31 December 2017 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. |
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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. |
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This report is made solely to the Board of Directors of Kent Supplies (Wrexham) 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 Kent Supplies (Wrexham) Limited and state those matters that we have agreed to state to the Board of Directors of Kent Supplies (Wrexham) 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 Kent Supplies (Wrexham) Limited and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Kent Supplies (Wrexham) 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 Kent Supplies (Wrexham) Limited. You consider that Kent Supplies (Wrexham) Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Kent Supplies (Wrexham) 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. |
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Chartered Accountants |
Broncoed House |
Broncoed Business Park |
Wrexham Road |
Mold |
Flintshire |
CH7 1HP |
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