Kernow Installations Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06627035 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2018

for

Kernow Installations Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

S K Gilbert

REGISTERED OFFICE:

The Whisperings

Petherwin Gate

North Petherwin

Launceston

Cornwall

PL15 8LW

REGISTERED NUMBER:

06627035 (England and Wales)

FIXED ASSETS

Intangible assets

4

22,750

26,000

Tangible assets

5

45,969

23,498

68,719

49,498

CURRENT ASSETS

Stocks

10,000

9,000

Debtors

11,461

50,234

Cash at bank

25,500

12,316

46,961

71,550

CREDITORS

Amounts falling due within one year

106,862

74,549

NET CURRENT LIABILITIES

(59,901

)

(2,999

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,818

46,499

PROVISIONS FOR LIABILITIES

8,734

4,465

NET ASSETS

84

42,034

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

82

42,032

SHAREHOLDERS' FUNDS

84

42,034

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 director acknowledges his 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 30 September 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director on 14 May 2019 and were signed by:

S K Gilbert - Director

1.	STATUTORY INFORMATION

Kernow Installations Limited 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.

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.

Turnover

Turnover represents net amounts invoiced by the company in respect of goods and services sold during the year

excluding value added tax.

Goodwill

Goodwill arises where the purchase consideration exceeds the value of the underlying net tangible assets.

Goodwill is being amortised over its estimated useful economic life of ten years.

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.

Plant and equipment

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

Straight line over 3 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2017

and 30 September 2018

50,000

AMORTISATION

At 1 October 2017

24,000

Amortisation for year

3,250

At 30 September 2018

27,250

NET BOOK VALUE

At 30 September 2018

22,750

At 30 September 2017

26,000

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2017

35,413

Additions

37,905

Disposals

(1,472

)

At 30 September 2018

71,846

DEPRECIATION

At 1 October 2017

11,915

Charge for year

14,764

Eliminated on disposal

(802

)

At 30 September 2018

25,877

NET BOOK VALUE

At 30 September 2018

45,969

At 30 September 2017

23,498