Registration number:
Kent Safety Solutions Limited
for the Year Ended 31 December 2016
Chartered Accountants
159 Rochester Road
Burham
Rochester
Kent
ME1 3SF
Kent Safety Solutions Limited
Company Information
Director |
Mr P Makoff-Clark |
Registered office |
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Accountants |
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Page 1 |
Kent Safety Solutions Limited
Director's Report for the Year Ended 31 December 2016
The director presents his report and the financial statements for the year ended 31 December 2016.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is health & safety consultancy
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the Board on
.........................................
Mr P Makoff-Clark
Director
Page 2 |
Kent Safety Solutions Limited
Profit and Loss Account for the Year Ended 31 December 2016
Note |
Total |
Total |
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Turnover |
|
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Cost of sales |
( |
( |
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Gross profit |
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|
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Administrative expenses |
( |
( |
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Operating profit |
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|
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Interest payable and similar expenses |
( |
- |
|
(235) |
- |
||
Profit before tax |
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|
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Taxation |
( |
( |
|
Profit for the financial year |
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|
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Page 3 |
Kent Safety Solutions Limited
Statement of Comprehensive Income for the Year Ended 31 December 2016
Note |
2016 |
2015 |
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Profit for the year |
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Total comprehensive income for the year |
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Page 4 |
Kent Safety Solutions Limited
(Registration number:
09339187
)
Balance Sheet as at 31 December 2016
Note |
2016 |
2015 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
( |
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Provisions for liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Total equity |
( |
( |
For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
.........................................
Mr P Makoff-Clark
Director
Page 5 |
Kent Safety Solutions Limited
Statement of Changes in Equity for the Year Ended 31 December 2016
Share capital |
Profit and loss account |
Total |
|
At 1 January 2016 |
|
( |
( |
Profit for the year |
- |
|
|
Total comprehensive income |
- |
|
|
Dividends |
- |
( |
( |
At 31 December 2016 |
|
( |
( |
Share capital |
Profit and loss account |
Total |
|
Profit for the year |
- |
|
|
Total comprehensive income |
- |
|
|
Dividends |
- |
( |
( |
New share capital subscribed |
|
- |
|
At 31 December 2015 |
|
( |
( |
Page 6 |
Kent Safety Solutions Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
General information |
The company is a private company limited by share capital incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Page 7 |
Kent Safety Solutions Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
33.3% on a straight line basis |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Page 8 |
Kent Safety Solutions Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Profit before tax |
Arrived at after charging/(crediting)
2016 |
2015 |
|
Depreciation expense |
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Page 9 |
Kent Safety Solutions Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 January 2016 |
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At 31 December 2016 |
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Depreciation |
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At 1 January 2016 |
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Charge for the period |
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At 31 December 2016 |
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Carrying amount |
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At 31 December 2016 |
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At 31 December 2015 |
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Debtors |
2016 |
2015 |
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Trade debtors |
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Other debtors |
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Total current trade and other debtors |
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Creditors |
Note |
2016 |
2015 |
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Due within one year |
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Bank loans and overdrafts |
|
- |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Other creditors |
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Page 10 |
Kent Safety Solutions Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
Loans and borrowings |
2016 |
2015 |
|
Current loans and borrowings |
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Other borrowings |
|
- |
Dividends |
2016 |
2015 |
|
£ |
£ |
|
Interim dividend of £
|
20,250 |
8,600 |
Related party transactions |
Key management personnel
Mr P Makoff-Clark (Director & Shareholder)
Summary of transactions with key management
Transition to FRS 102 |
Page 11 |