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No description of principal activity
2016-05-01
Sage Accounts Production Advanced 2017 Update 4 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
4729674
2016-05-01
2017-04-30
4729674
2017-04-30
4729674
2016-04-30
4729674
2015-05-01
2016-04-30
4729674
2016-04-30
4729674
core:PlantMachinery
2016-05-01
2017-04-30
4729674
core:MotorVehicles
2016-05-01
2017-04-30
4729674
bus:RegisteredOffice
2016-05-01
2017-04-30
4729674
bus:OrdinaryShareClass1
2016-05-01
2017-04-30
4729674
bus:LeadAgentIfApplicable
2016-05-01
2017-04-30
4729674
bus:Director1
2016-05-01
2017-04-30
4729674
bus:CompanySecretary1
2016-05-01
2017-04-30
4729674
core:PlantMachinery
2016-04-30
4729674
core:MotorVehicles
2016-04-30
4729674
core:PlantMachinery
2017-04-30
4729674
core:MotorVehicles
2017-04-30
4729674
core:WithinOneYear
2017-04-30
4729674
core:WithinOneYear
2016-04-30
4729674
core:ShareCapital
2017-04-30
4729674
core:ShareCapital
2016-04-30
4729674
core:RetainedEarningsAccumulatedLosses
2017-04-30
4729674
core:RetainedEarningsAccumulatedLosses
2016-04-30
4729674
core:PlantMachinery
2016-04-30
4729674
core:MotorVehicles
2016-04-30
4729674
bus:FRS102
2016-05-01
2017-04-30
4729674
bus:AuditExemptWithAccountantsReport
2016-05-01
2017-04-30
4729674
bus:FullAccounts
2016-05-01
2017-04-30
4729674
bus:SmallCompaniesRegimeForAccounts
2016-05-01
2017-04-30
4729674
bus:PrivateLimitedCompanyLtd
2016-05-01
2017-04-30
4729674
bus:OrdinaryShareClass1
2017-04-30
4729674
bus:OrdinaryShareClass1
2016-04-30
COMPANY REGISTRATION NUMBER:
4729674
Filleted Unaudited Financial Statements
|
|
Year ended 30 April 2017
Officers and professional advisers
|
1
|
|
|
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
|
2
|
|
|
Statement of financial position
|
3
|
|
|
Notes to the financial statements
|
4 to 7
|
|
|
Officers and Professional Advisers
|
|
Director
|
Mr C.D. Griffiths
|
|
|
Company secretary
|
Mr C.D. Griffiths
|
|
|
Registered office
|
1 Pill Road
|
|
Milford Haven
|
|
Pembrokeshire
|
|
SA73 2NS
|
|
|
Accountants
|
Evens & Co Ltd
|
|
Chartered Accountants
|
|
Hamilton House
|
|
Hamilton Terrace
|
|
Milford Haven
|
|
Pembrokeshire
|
|
SA73 3JP
|
|
|
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
K C Motors Limited
|
|
Year ended 30 April 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 C Motors Limited for the year ended 30 April 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 C Motors Limited in accordance with the terms of our engagement letter dated 22 January 2017. Our work has been undertaken solely to prepare for your approval the financial statements of K C Motors 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 C Motors Limited and its director for our work or for this report.
It is your duty to ensure that K C Motors 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 C Motors Limited. You consider that K C Motors 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 C Motors 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.
Evens & Co Ltd
Chartered Accountants
Hamilton House
Hamilton Terrace
Milford Haven
Pembrokeshire
SA73 3JP
31 January 2018
Statement of Financial Position
|
|
30 April 2017
Fixed assets
Tangible assets
|
5
|
5,416
|
4,119
|
|
|
|
|
Current assets
Debtors
|
6
|
7,167
|
9,505
|
Cash at bank and in hand
|
5,809
|
23,151
|
|
--------
|
--------
|
|
12,976
|
32,656
|
|
|
|
|
Creditors: amounts falling due within one year
|
7
|
(
102,249)
|
(
92,333)
|
|
---------
|
--------
|
Net current liabilities
|
(
89,273)
|
(
59,677)
|
|
--------
|
--------
|
Total assets less current liabilities
|
(
83,857)
|
(
55,558)
|
|
--------
|
--------
|
|
|
|
|
Capital and reserves
Called up share capital
|
8
|
10
|
10
|
Profit and loss account
|
(
83,867)
|
(
55,568)
|
|
--------
|
--------
|
Shareholders deficit
|
(
83,857)
|
(
55,558)
|
|
--------
|
--------
|
|
|
|
|
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 30 April 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
.
These financial statements were approved by the
board of directors
and authorised for issue on
31 January 2018
, and are signed on behalf of the board by:
Mr C.D. Griffiths
|
|
Director
|
|
|
|
Company registration number:
4729674
Notes to the Financial Statements
|
|
Year ended 30 April 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 1 Pill Road, Milford Haven, Pembrokeshire, SA73 2NS.
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. The company meets its day to day working capital requirements through the director's loan account. The director intends to meet this obligation for the foreseeable future and on this basis he considers it appropriate to prepare the accounts on a going concern basis.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 May 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 10.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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:
|
Tools
|
-
|
25% reducing balance
|
|
Motor vehicles
|
-
|
25% 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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
4
(2016:
5
).
5.
Tangible assets
|
Tools
|
Motor vehicles
|
Total
|
|
£
|
£
|
£
|
Cost
|
|
|
|
At 1 May 2016
|
15,088
|
10,000
|
25,088
|
Additions
|
3,102
|
–
|
3,102
|
|
--------
|
--------
|
--------
|
At 30 April 2017
|
18,190
|
10,000
|
28,190
|
|
--------
|
--------
|
--------
|
Depreciation
|
|
|
|
At 1 May 2016
|
12,749
|
8,220
|
20,969
|
Charge for the year
|
1,360
|
445
|
1,805
|
|
--------
|
--------
|
--------
|
At 30 April 2017
|
14,109
|
8,665
|
22,774
|
|
--------
|
--------
|
--------
|
Carrying amount
|
|
|
|
At 30 April 2017
|
4,081
|
1,335
|
5,416
|
|
--------
|
--------
|
--------
|
At 30 April 2016
|
2,339
|
1,780
|
4,119
|
|
--------
|
--------
|
--------
|
|
|
|
|
6.
Debtors
|
2017
|
2016
|
|
£
|
£
|
Trade debtors
|
6,667
|
9,505
|
Other debtors
|
500
|
–
|
|
-------
|
-------
|
|
7,167
|
9,505
|
|
-------
|
-------
|
|
|
|
Other debtors include an amount of £nil (2016 - £nil) falling due after more than one year.
7.
Creditors:
amounts falling due within one year
|
2017
|
2016
|
|
£
|
£
|
Trade creditors
|
22,263
|
27,731
|
Social security and other taxes
|
4,999
|
7,016
|
Other creditors
|
74,987
|
57,586
|
|
---------
|
--------
|
|
102,249
|
92,333
|
|
---------
|
--------
|
|
|
|
8.
Called up share capital
Issued, called up and fully paid
|
2017
|
2016
|
|
No.
|
£
|
No.
|
£
|
Ordinary shares of £ 1 each
|
10
|
10
|
10
|
10
|
|
----
|
----
|
----
|
----
|
|
|
|
|
|
9.
Related party transactions
The company was under the control of
Mr C.D. Griffiths
throughout the current and previous year. Mr C.D. Griffiths
is the managing director and majority shareholder. The company rents a commercial property which is owned by the Mr C.D. Griffiths
, the managing director. During the year the company paid rent for this property of £18,000 (2016 - £18,000) on a commercial basis.
10.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 May 2015.
No transitional adjustments were required in equity or profit or loss for the year.