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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31st March 2019 |
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for |
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KNTC LIMITED |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31st March 2019 |
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for |
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KNTC LIMITED |
KNTC LIMITED (REGISTERED NUMBER: 07800863) |
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Contents of the Financial Statements |
for the year ended 31st March 2019 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Accountants' Report | 8 |
KNTC LIMITED |
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Company Information |
for the year ended 31st March 2019 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Suffolk House |
George Street |
Croydon |
Surrey |
CR0 0YN |
KNTC LIMITED (REGISTERED NUMBER: 07800863) |
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Statement of Financial Position |
31st March 2019 |
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31.3.19 | 31.3.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Property, plant and equipment | 5 |
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CURRENT ASSETS |
Inventories | 6 |
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Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges her responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the
end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
KNTC LIMITED (REGISTERED NUMBER: 07800863) |
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Statement of Financial Position - continued |
31st March 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
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The financial statements were approved by the director on
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KNTC LIMITED (REGISTERED NUMBER: 07800863) |
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Notes to the Financial Statements |
for the year ended 31st March 2019 |
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1. | STATUTORY INFORMATION |
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KNTC Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents amounts receivable for goods and services provided during the period, excluding value |
added tax. |
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Goodwill |
Goodwill, being the amount paid in connection with the acquisition of certain trading assets in 2012, is being |
amortised on a systematic basis over its useful life. The director has considered the guidance of Financial |
Reporting Standard 102 and believe that this asset has a finite useful life which cannot be reliably estimated. |
Therefore goodwill shall be written off in full after 5 years. |
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Tangible fixed assets |
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Plant and machinery | - |
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Computer equipment | - |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs |
in bringing inventories to their present location and condition. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except |
to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different |
from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and |
laws that have been enacted or substantively enacted by the year end and that are expected to apply to the |
reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that |
they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
KNTC LIMITED (REGISTERED NUMBER: 07800863) |
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Notes to the Financial Statements - continued |
for the year ended 31st March 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those |
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under |
finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital |
element of the future payments is treated as a liability. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's |
pension scheme are charged to profit or loss in the period to which they relate. |
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Debtors |
Short term debtors are measured at the transaction price, less any impairment. |
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Creditors |
Short term creditors are measured at the transaction price. |
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Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on |
notice of not more than 24 hours. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2018 -
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st April 2018 |
and 31st March 2019 |
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AMORTISATION |
At 1st April 2018 |
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Charge for year |
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At 31st March 2019 |
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NET BOOK VALUE |
At 31st March 2019 |
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At 31st March 2018 |
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KNTC LIMITED (REGISTERED NUMBER: 07800863) |
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Notes to the Financial Statements - continued |
for the year ended 31st March 2019 |
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5. | PROPERTY, PLANT AND EQUIPMENT |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1st April 2018 |
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Additions |
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Disposals | ( |
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At 31st March 2019 |
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DEPRECIATION |
At 1st April 2018 |
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Charge for year |
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Eliminated on disposal |
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At 31st March 2019 |
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NET BOOK VALUE |
At 31st March 2019 |
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At 31st March 2018 |
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Fixed assets, included in the above, which are held under finance leases are as follows: |
Motor |
vehicles |
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COST |
At 1st April 2018 |
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Disposals | ( |
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At 31st March 2019 |
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DEPRECIATION |
At 1st April 2018 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31st March 2019 |
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NET BOOK VALUE |
At 31st March 2019 |
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At 31st March 2018 |
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6. | INVENTORIES |
31.3.19 | 31.3.18 |
£ | £ |
Work-in-progress |
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KNTC LIMITED (REGISTERED NUMBER: 07800863) |
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Notes to the Financial Statements - continued |
for the year ended 31st March 2019 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Trade debtors |
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Other debtors |
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Directors' current accounts | 32,713 | 15,832 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Finance leases |
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Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 117,386 | 182,770 |
Other creditors |
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Accrued expenses |
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9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Finance leases |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.19 | 31.3.18 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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11. | RELATED PARTY DISCLOSURES |
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During the year dividends of £170,820 (2018 - £172,000) were paid to B W Enright and Mrs M Enright. |
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Debtors include the balance of £32,712 (2018 - £15,832) on the directors current account. This balance has |
been loaned interest free. |
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12. | ULTIMATE CONTROLLING PARTY |
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The company is jointly controlled by B W Enright and M Enright |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
KNTC Limited |
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The following reproduces the text of the report prepared for the director in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and |
certain other primary statements and the Report of the Director are not required to be filed with the Registrar of |
Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of KNTC Limited for the year ended 31st March 2019 which comprise the Statement of |
Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from |
the company's accounting records and from information and explanations you have given us. |
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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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the director of KNTC Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of KNTC Limited and state those matters that we have agreed to state to the director of KNTC Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KNTC Limited and its director for our work or for this report. |
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It is your duty to ensure that KNTC 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 profit of KNTC Limited. You consider that KNTC Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of KNTC 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. |
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Chartered Accountants |
Suffolk House |
George Street |
Croydon |
Surrey |
CR0 0YN |
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