Company Registration No. 07776343 (England and Wales)
Kinetic Air Limited
Unaudited accounts
for the year ended 31 March 2018
Kinetic Air Limited
Unaudited accounts
Contents
Kinetic Air Limited
Company Information
for the year ended 31 March 2018
Company Number
07776343 (England and Wales)
Registered Office
10 Manston Way
Leeds
LS15 8BR
Accountants
Business Works UK Ltd
Upper Floor, 9 Fusion Court
Aberford Road
Leeds
West Yorkshire
LS25 2GH
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Kinetic Air Limited
for the year ended 31 March 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Kinetic Air Limited for the year ended 31 March 2018 which comprise of the Profit and Loss Account, the 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 Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Business Works UK Ltd
Chartered Management Accountants
Upper Floor, 9 Fusion Court
Aberford Road
Leeds
West Yorkshire
LS25 2GH
13 June 2018
Kinetic Air Limited
Statement of financial position
as at
31 March 2018
Tangible assets
10,447
25,368
Cash at bank and in hand
12,525
(2,684)
Creditors: amounts falling due within one year
(42,457)
(64,516)
Net current assets
21,046
17,906
Total assets less current liabilities
31,493
43,274
Creditors: amounts falling due after more than one year
(10,259)
(18,757)
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
19,149
24,417
Shareholders' funds
19,249
24,517
For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 13 June 2018.
David Lawrence
Director
Company Registration No. 07776343
Kinetic Air Limited
Notes to the Accounts
for the year ended 31 March 2018
Kinetic Air Limited is a private company, limited by shares, registered in England and Wales, registration number 07776343. The registered office is 10 Manston Way, Leeds, LS15 8BR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% straight line
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2017
1,930
59,067
60,997
Disposals
-
(19,436)
(19,436)
At 31 March 2018
1,930
39,631
41,561
At 1 April 2017
1,315
34,314
35,629
Charge for the year
154
9,908
10,062
On disposals
-
(14,577)
(14,577)
At 31 March 2018
1,469
29,645
31,114
At 31 March 2018
461
9,986
10,447
At 31 March 2017
615
24,753
25,368
Trade debtors
50,978
85,106
Kinetic Air Limited
Notes to the Accounts
for the year ended 31 March 2018
6
Creditors: amounts falling due within one year
2018
2017
Obligations under finance leases and hire purchase contracts
6,174
12,487
Trade creditors
4,628
6,033
Taxes and social security
34,726
43,210
Loans from directors
(3,071)
(5,646)
7
Creditors: amounts falling due after more than one year
2018
2017
Obligations under finance leases and hire purchase contracts
10,259
18,757
8
Deferred taxation
2018
2017
Accelerated capital allowances
1,985
-
Provision at start of year
-
(3,858)
Charged to the profit and loss account
1,985
3,858
Provision at end of year
1,985
-
9
Average number of employees
During the year the average number of employees was 5 (2017: 5).