false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
false
No description of principal activity
2016-10-06
Sage Accounts Production Advanced 2017 Update 4 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
03362005
2016-10-06
2017-10-05
03362005
2017-10-05
03362005
2016-10-05
03362005
2016-10-05
03362005
core:PlantMachinery
2016-10-06
2017-10-05
03362005
core:FurnitureFittings
2016-10-06
2017-10-05
03362005
bus:OrdinaryShareClass1
2016-10-06
2017-10-05
03362005
bus:LeadAgentIfApplicable
2016-10-06
2017-10-05
03362005
bus:Director1
2016-10-06
2017-10-05
03362005
core:WithinOneYear
2017-10-05
03362005
core:WithinOneYear
2016-10-05
03362005
core:LandBuildings
2016-10-05
03362005
core:PlantMachinery
2016-10-05
03362005
core:FurnitureFittings
2016-10-05
03362005
core:LandBuildings
2017-10-05
03362005
core:PlantMachinery
2017-10-05
03362005
core:FurnitureFittings
2017-10-05
03362005
core:ShareCapital
2017-10-05
03362005
core:ShareCapital
2016-10-05
03362005
core:RetainedEarningsAccumulatedLosses
2017-10-05
03362005
core:RetainedEarningsAccumulatedLosses
2016-10-05
03362005
core:LandBuildings
2016-10-05
03362005
core:PlantMachinery
2016-10-05
03362005
core:FurnitureFittings
2016-10-05
03362005
bus:FRS102
2016-10-06
2017-10-05
03362005
bus:AuditExemptWithAccountantsReport
2016-10-06
2017-10-05
03362005
bus:FullAccounts
2016-10-06
2017-10-05
03362005
bus:SmallCompaniesRegimeForAccounts
2016-10-06
2017-10-05
03362005
bus:PrivateLimitedCompanyLtd
2016-10-06
2017-10-05
03362005
bus:OrdinaryShareClass1
2017-10-05
03362005
bus:OrdinaryShareClass1
2016-10-05
03362005
core:LandBuildings
core:OwnedOrFreeholdAssets
2016-10-06
2017-10-05
COMPANY REGISTRATION NUMBER:
03362005
Unaudited Financial Statements
|
|
for the year ended 5th October 2017
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
|
1
|
|
|
Statement of financial position
|
2 to 3
|
|
|
Notes to the financial statements
|
4 to 7
|
|
|
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
K A Holt Limited
|
|
for the year ended 5th October 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of K A Holt Limited for the year ended 5th October 2017, which comprise the statement of financial position 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 at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of K A Holt Limited in accordance with the terms of our engagement letter dated 21st December 2016. Our work has been undertaken solely to prepare for your approval the financial statements of K A Holt Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than K A Holt Limited and its director for our work or for this report.
It is your duty to ensure that K A Holt 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 loss of K A Holt Limited. You consider that K A Holt 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 K A Holt 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.
MOORE THOMPSON
Chartered Accountants
Bank House
Broad Street
Spalding
PE11 1TB
Dated:
8 May 2018
Statement of Financial Position
|
|
as at
5 October 2017
Fixed assets
Tangible assets
|
4
|
|
23,853
|
|
24,161
|
|
|
|
|
|
|
Current assets
Debtors
|
5
|
1,404,090
|
|
1,405,301
|
|
Cash at bank and in hand
|
1,735
|
|
1,720
|
|
|
------------
|
|
------------
|
|
|
1,405,825
|
|
1,407,021
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
6
|
10,178
|
|
10,118
|
|
|
------------
|
|
------------
|
|
Net current assets
|
|
1,395,647
|
|
1,396,903
|
|
|
------------
|
|
------------
|
Total assets less current liabilities
|
|
1,419,500
|
|
1,421,064
|
|
|
------------
|
|
------------
|
Net assets
|
|
1,419,500
|
|
1,421,064
|
|
|
------------
|
|
------------
|
|
|
|
|
|
|
Capital and reserves
Called up share capital
|
7
|
|
1,440,283
|
|
1,440,283
|
Profit and loss account
|
|
(
20,783)
|
|
(
19,219)
|
|
|
------------
|
|
------------
|
Shareholders funds
|
|
1,419,500
|
|
1,421,064
|
|
|
------------
|
|
------------
|
|
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 5th October 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued)
|
|
as at
5 October 2017
These financial statements were approved by the
board of directors
and authorised for issue on
8 May 2018
, and are signed on behalf of the board by:
Company registration number:
03362005
Notes to the Financial Statements
|
|
for the year ended 5th October 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Limes, Baumber, Horncastle, Lincolnshire, LN9 5NE.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 6th October 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Freehold property
|
-
|
not depreciated
|
|
Plant and machinery
|
-
|
15% reducing balance
|
|
Fixtures and fittings
|
-
|
15% reducing balance
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
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 entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
Tangible assets
|
Freehold property
|
Plant and machinery
|
Fixtures and fittings
|
Total
|
|
£
|
£
|
£
|
£
|
|
|
|
|
|
Cost
|
|
|
|
|
At 6th October 2016 and 5th October 2017
|
64,160
|
32,455
|
5,141
|
101,756
|
|
-----------
|
-----------
|
-----------
|
-----------
|
Depreciation
|
|
|
|
|
At 6th October 2016
|
42,054
|
30,529
|
5,012
|
77,595
|
Charge for the year
|
–
|
289
|
19
|
308
|
|
-----------
|
-----------
|
-----------
|
-----------
|
At 5th October 2017
|
42,054
|
30,818
|
5,031
|
77,903
|
|
-----------
|
-----------
|
-----------
|
-----------
|
Carrying amount
|
|
|
|
|
At 5th October 2017
|
22,106
|
1,637
|
110
|
23,853
|
|
-----------
|
-----------
|
-----------
|
-----------
|
At 5th October 2016
|
22,106
|
1,926
|
129
|
24,161
|
|
-----------
|
-----------
|
-----------
|
-----------
|
|
|
|
|
|
5.
Debtors
Other debtors
|
1,404,090
|
1,405,301
|
|
------------
|
------------
|
|
|
|
6.
Creditors:
amounts falling due within one year
Accruals and deferred income
|
1,200
|
1,140
|
Director loan accounts
|
8,978
|
8,978
|
|
-----------
|
-----------
|
|
10,178
|
10,118
|
|
-----------
|
-----------
|
|
|
|
7.
Called up share capital
Issued, called up and fully paid
Ordinary shares of £ 1 each
|
1,440,283
|
1,440,283
|
1,440,283
|
1,440,283
|
|
------------
|
------------
|
------------
|
------------
|
|
|
|
|
|
8.
Related party transactions
During the year the company was under the control of
D K Wood
, the director of the company. At 5th October 2017 the company owed £8,978 to D K Wood
(2016 - £8,978). A loan to Fieldview Homes Limited of £1,404,090 was outstanding at the year end (2016 - £1,405,301). D K Wood
is the director of this property development company. No interest on the loan for the year was charged (2016 - £nil).
9.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 6th October 2015.
No transitional adjustments were required in equity or profit or loss for the year.