Company Registration No. 02018810 (England and Wales)
Kelland Precision Tooling Ltd.
Unaudited accounts
for the year ended 31 January 2020
Kelland Precision Tooling Ltd.
Unaudited accounts
Contents
Kelland Precision Tooling Ltd.
Company Information
for the year ended 31 January 2020
Directors
Mr S Noon
Mr A Bland
Mr M I Turner
Mr A Noon
Company Number
02018810 (England and Wales)
Registered Office
Automation Works 656 Leeds Road
Deighton
Huddersfield
West Yorkshire
HD2 1UB
ENGLAND
Accountants
Taxnfacts Ltd
21B Shulishader
Isle of Lewis
HS2 0PU
Kelland Precision Tooling Ltd.
Statement of financial position
as at
31 January 2020
Intangible assets
75,000
75,000
Tangible assets
112,483
128,657
Inventories
58,689
41,421
Cash at bank and in hand
326
12,020
Creditors: amounts falling due within one year
(305,888)
(346,573)
Net current assets
155,762
225,270
Total assets less current liabilities
343,245
428,927
Creditors: amounts falling due after more than one year
(127,810)
(80,987)
Net assets
215,435
347,940
Called up share capital
20,000
20,000
Capital redemption reserve
43,000
43,000
Profit and loss account
152,435
284,940
Shareholders' funds
215,435
347,940
For the year ending 31 January 2020 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 directors acknowledge their 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.
The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2021 and were signed on its behalf by
Mr S Noon
Director
Company Registration No. 02018810
Kelland Precision Tooling Ltd.
Notes to the Accounts
for the year ended 31 January 2020
Kelland Precision Tooling Ltd. is a private company, limited by shares, registered in England and Wales, registration number 02018810. The registered office is Automation Works 656 Leeds Road, Deighton, Huddersfield, West Yorkshire, HD2 1UB, ENGLAND.
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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
15% on cost
Motor vehicles
25% on cost
Fixtures & fittings
25% and 15% on cost
Computer equipment
25% on cost
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Kelland Precision Tooling Ltd.
Notes to the Accounts
for the year ended 31 January 2020
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other
At 1 February 2019
75,000
At 31 January 2020
75,000
At 31 January 2020
75,000
At 31 January 2019
75,000
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Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 February 2019
414,896
22,798
50,875
22,176
510,745
Additions
13,000
16,185
-
1,326
30,511
Disposals
(70,989)
(22,798)
(7,630)
(6,589)
(108,006)
At 31 January 2020
356,907
16,185
43,245
16,913
433,250
At 1 February 2019
306,623
19,133
36,793
19,539
382,088
Charge for the year
33,173
2,710
6,480
1,344
43,707
On disposals
(70,989)
(19,820)
(7,630)
(6,589)
(105,028)
At 31 January 2020
268,807
2,023
35,643
14,294
320,767
At 31 January 2020
88,100
14,162
7,602
2,619
112,483
At 31 January 2019
108,273
3,665
14,082
2,637
128,657
Raw materials
30,058
30,000
Work in progress
28,631
11,421
Kelland Precision Tooling Ltd.
Notes to the Accounts
for the year ended 31 January 2020
Trade debtors
124,271
195,699
Amounts due from group undertakings etc.
223,781
195,599
Accrued income and prepayments
1,841
36,802
Other debtors
52,742
90,302
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Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
32,186
22,262
Obligations under finance leases and hire purchase contracts
44,681
24,916
Trade creditors
92,705
133,884
Taxes and social security
9,668
10,011
Other creditors
19,418
55,202
Deferred income
57,743
20,776
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Creditors: amounts falling due after more than one year
2020
2019
Obligations under finance leases and hire purchase contracts
127,810
28,987
The company is a wholly owned subsidiary of WS9988 Ltd registered in England and Wales.
11
Average number of employees
During the year the average number of employees was 18 (2019: 17).