KM Electronics Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04912940 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2018

FOR

KM ELECTRONICS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K C Smith

Mrs M Smith

SECRETARY:

Mrs M Smith

REGISTERED OFFICE:

Brooke Business Park

Heath Road

Lowestoft

Suffolk

NR33 9LZ

REGISTERED NUMBER:

04912940 (England and Wales)

ACCOUNTANTS:

Juler Tooke

Lothing House

Quay View Business Park

Barnards Way

Lowestoft

Suffolk

NR32 2HD

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

5,164

3,478

5,164

3,478

CURRENT ASSETS

Stocks

57,799

63,320

Debtors

6

30,151

21,703

Cash at bank

91,510

126,549

179,460

211,572

CREDITORS

Amounts falling due within one year

7

(99,266

)

(130,579

)

NET CURRENT ASSETS

80,194

80,993

TOTAL ASSETS LESS CURRENT LIABILITIES

85,358

84,471

PROVISIONS FOR LIABILITIES

8

(981

)

(661

)

NET ASSETS

84,377

83,810

CAPITAL AND RESERVES

Called up share capital

9

6

6

Retained earnings

10

84,371

83,804

SHAREHOLDERS' FUNDS

84,377

83,810

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 16 May 2019 and were signed on its behalf by:

K C Smith - Director

1.	STATUTORY INFORMATION

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

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful 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 machinery etc

-

25% on reducing balance, 20% on cost and 15% on reducing balance

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet 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.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2017

and 30 September 2018

25,000

AMORTISATION

At 1 October 2017

and 30 September 2018

25,000

NET BOOK VALUE

At 30 September 2018

-

At 30 September 2017

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2017

21,264

Additions

3,800

Disposals

(3,848

)

At 30 September 2018

21,216

DEPRECIATION

At 1 October 2017

17,786

Charge for year

1,914

Eliminated on disposal

(3,648

)

At 30 September 2018

16,052

NET BOOK VALUE

At 30 September 2018

5,164

At 30 September 2017

3,478

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.18

30.9.17

£

£

Trade debtors

26,573

17,815

Other debtors

3,578

3,888

30,151

21,703

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.18

30.9.17

£

£

Trade creditors

23,704

23,109

Taxation and social security

11,074

13,172

Other creditors

64,488

94,298

99,266

130,579

8.	PROVISIONS FOR LIABILITIES

30.9.18

30.9.17

£

£

Deferred tax

981

661

Deferred

tax

£

Balance at 1 October 2017

661

Provided during year

320

Balance at 30 September 2018

981

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.18

30.9.17

value:

£

£

6

Ordinary

£1

6

6

10.

RESERVES

Retained

earnings

£

At 1 October 2017

83,804

Profit for the year

20,567

Dividends

(20,000

)

At 30 September 2018

84,371

11.	ULTIMATE CONTROLLING PARTY