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Unaudited Financial Statements |
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for the Year Ended 31 December 2020 |
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for |
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KIREMKO FOOD PROCESSING EQUIPMENT (UK) |
LIMITED |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 December 2020 |
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for |
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KIREMKO FOOD PROCESSING EQUIPMENT (UK) |
LIMITED |
KIREMKO FOOD PROCESSING EQUIPMENT (UK) |
LIMITED (REGISTERED NUMBER: 01694467) |
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Contents of the Financial Statements |
for the year ended 31 December 2020 |
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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 | 3 |
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KIREMKO FOOD PROCESSING EQUIPMENT (UK) |
LIMITED |
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Company Information |
for the year ended 31 December 2020 |
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Directors: |
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Registered office: |
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Registered number: |
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Accountants: |
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Chartered Accountants |
Coopers House |
65a Wingletye Lane |
Hornchurch |
Essex |
RM11 3AT |
KIREMKO FOOD PROCESSING EQUIPMENT (UK) |
LIMITED (REGISTERED NUMBER: 01694467) |
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Balance Sheet |
31 December 2020 |
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2020 | 2019 |
Notes | £ | £ |
Current assets |
Debtors | 5 |
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Cash at bank and in hand |
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Creditors |
Amounts falling due within one year | 6 |
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Net current assets |
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Total assets less current liabilities |
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Capital and reserves |
Called up share capital | 7 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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KIREMKO FOOD PROCESSING EQUIPMENT (UK) |
LIMITED (REGISTERED NUMBER: 01694467) |
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Notes to the Financial Statements |
for the year ended 31 December 2020 |
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1. | Statutory information |
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Kiremko Food Processing Equipment (UK) Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Key source of estimation, uncertainty and judgement |
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. |
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There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets. |
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There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of. |
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There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable. |
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Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. |
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Tangible fixed assets |
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Plant and machinery | - |
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Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
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Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
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Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts. |
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Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
KIREMKO FOOD PROCESSING EQUIPMENT (UK) |
LIMITED (REGISTERED NUMBER: 01694467) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2020 |
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2. | Accounting policies - continued |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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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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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 |
Plant and |
machinery |
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Cost |
At 1 January 2020 |
and 31 December 2020 |
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Depreciation |
At 1 January 2020 |
and 31 December 2020 |
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Net book value |
At 31 December 2020 |
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At 31 December 2019 |
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5. | Debtors: amounts falling due within one year |
2020 | 2019 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | Creditors: amounts falling due within one year |
2020 | 2019 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
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Ordinary | £1 | 2 | 2 |
KIREMKO FOOD PROCESSING EQUIPMENT (UK) |
LIMITED (REGISTERED NUMBER: 01694467) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2020 |
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8. | Related party disclosures |
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During the year the company provided goods and services to the value of £40,267 (2019 - £62,480), to Kiremko BV, a fellow subsidiary. |
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Included in debtors at the balance sheet date is £750 (2019 - £750) due from Mr A R Gowing, a director of the company. |
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No material transactions are considered to have been entered into with the parent undertaking, fellow subsidiaries or company directors, which have not been concluded under normal market conditions. |
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9. | Ultimate controlling party |
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The company's parent undertaking is considered to be Kiremko Holding BV, a company incorporated in Holland. |
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Kiremko Holding BV is a wholly owned subsidiary of Kiremko Group BV, a company incorporated in Holland. |
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The company's ultimate controlling party is considered to be P.J. Oosterlaken Holding BV, a company incorporated in Holland. |