Kingham MTM Cases Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02446851 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2018

for

KINGHAM MTM CASES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

Mr R Kingham

Mr S Savage

Mrs J Savage

Registered office:

Coopers House

65a Wingletye Lane

Hornchurch

Essex

RM11 3AT

Registered number:

02446851 (England and Wales)

Accountants:

Haines Watts Essex LLP

Chartered Accountants

Coopers House

65a Wingletye Lane

Hornchurch

Essex

RM11 3AT

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

14,242

6,417

14,242

6,417

Current assets

Stocks

2,000

2,000

Debtors

6

-

10,105

Cash at bank and in hand

5,658

500

7,658

12,605

Creditors

Amounts falling due within one year

7

13,618

17,687

Net current liabilities

(5,960

)

(5,082

)

Total assets less current liabilities

8,282

1,335

Provisions for liabilities

8

2,649

1,150

Net assets

5,633

185

Capital and reserves

Called up share capital

9

100

100

Retained earnings

5,533

85

Shareholders' funds

5,633

185

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 28 June 2019 and were signed on its behalf by:

Mr S Savage - Director

1.	Statutory information

Kingham MTM Cases Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires

management to make estimates and judgement that affect the reported amounts of assets and liabilities as well

as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of

revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out

by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as

possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out

by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as

possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is

carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are

as accurate as possible, there remains a risk that the provisions do not match the level of debts which

ultimately prove to be uncollectable.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% straight line

Computer equipment

-

25% straight line

Stocks and work in progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due

allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of

fixed and variable overheads.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a

party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial

recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the

effective interest rate method. A provision is established when there is objective evidence that the company will

not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank

and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the

substance of the contractual arrangements entered into and the definitions of a financial liability and an equity

instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company

after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds

received, net of direct issue costs.

3.	Employees and directors

The average number of employees during the year was 3 (2017 - 3 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 October 2017

and 30 September 2018

60,000

Amortisation

At 1 October 2017

and 30 September 2018

60,000

Net book value

At 30 September 2018

-

At 30 September 2017

-

5.	Tangible fixed assets

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

Cost

At 1 October 2017

12,834

-

16,047

28,881

Additions

190

8,409

2,571

11,170

At 30 September 2018

13,024

8,409

18,618

40,051

Depreciation

At 1 October 2017

10,094

-

12,370

22,464

Charge for year

937

313

2,095

3,345

At 30 September 2018

11,031

313

14,465

25,809

Net book value

At 30 September 2018

1,993

8,096

4,153

14,242

At 30 September 2017

2,740

-

3,677

6,417

6.

Debtors: amounts falling due within one year

30.9.18

30.9.17

£

£

Other debtors

-

10,105

7.

Creditors: amounts falling due within one year

30.9.18

30.9.17

£

£

Bank loans and overdrafts

-

4,172

Taxation and social security

10,713

10,668

Other creditors

2,905

2,847

13,618

17,687

8.	Provisions for liabilities

30.9.18

30.9.17

£

£

Deferred tax

2,649

1,150

Deferred

tax

£

Balance at 1 October 2017

1,150

Charge to Statement of Comprehensive Income during year

1,499

Balance at 30 September 2018

2,649

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.18

30.9.17

value:

£

£

100

Ordinary

£1

100

100

10.	Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 30 September 2018 and

30 September 2017:

30.9.18

30.9.17

£

£

Mr R Kingham

Balance outstanding at start of year

5,053

4,321

Amounts advanced

12,169

12,132

Amounts repaid

(18,000

)

(11,400

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(778

)

5,053

Mr S Savage

Balance outstanding at start of year

5,053

4,321

Amounts advanced

12,169

12,132

Amounts repaid

(18,000

)

(11,400

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(778

)

5,053