Emmerson Kitney Ltd - Accounts to registrar (filleted) - small 18.2

Emmerson Kitney Ltd - Accounts to registrar (filleted) - small 18.2

EMMERSON KITNEY LTD - Company Information

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REGISTERED NUMBER: 06993883 (England and Wales)


















Emmerson Kitney Ltd

Unaudited Financial Statements for the Year Ended 31st December 2018





Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire HU2 8BA








Emmerson Kitney Ltd (Registered number: 06993883)






Contents of the Financial Statements
for the year ended 31st December 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Emmerson Kitney Ltd

Company Information
for the year ended 31st December 2018







DIRECTOR: D R Kitney





REGISTERED OFFICE: The Old Foundry
Cowgate
Welton
East Yorkshire
HU15 1NB





REGISTERED NUMBER: 06993883 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire HU2 8BA
Page 1
Emmerson Kitney Ltd (Registered number: 06993883)

Balance Sheet
31st December 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 203,270 19,520
Investments 5 100 100
203,370 19,620

CURRENT ASSETS
Debtors 6 181,145 195,605
Cash at bank and in hand 70,762 155,230
251,907 350,835
CREDITORS
Amounts falling due within one year 7 170,062 179,229
NET CURRENT ASSETS 81,845 171,606
TOTAL ASSETS LESS CURRENT
LIABILITIES
285,215
191,226

CREDITORS
Amounts falling due after more than one
year
8
(104,532
)
-

PROVISIONS FOR LIABILITIES (4,987 ) (3,904 )
NET ASSETS 175,696 187,322

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 175,596 187,222
SHAREHOLDERS' FUNDS 175,696 187,322

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 notes form part of these financial statements

Page 2 continued...
Emmerson Kitney Ltd (Registered number: 06993883)

Balance Sheet - continued
31st December 2018


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 Comprehensive Income has not been delivered.

The financial statements were approved by the director on 2nd July 2019 and were signed by:





D R Kitney - Director


The notes form part of these financial statements

Page 3
Emmerson Kitney Ltd (Registered number: 06993883)

Notes to the Financial Statements
for the year ended 31st December 2018

1. STATUTORY INFORMATION

Emmerson Kitney 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 significant accounting policies applied in the preparation of these financial statements are set out
below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated
impairment losses. Cost includes costs directly attributable to making the asset capable of operating
as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less
estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery- 33% on cost
Fixtures and fittings- 15% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss)
for the current or past reporting periods. It is measured at the amount expected to be paid or
recovered using the tax rates and laws that have been enacted or substantively enacted by the
balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the
financial statements of current and previous periods. It is recognised in respect of all timing
differences, with certain exceptions. Timing differences are differences between taxable profits and
total comprehensive income as stated in the financial statements that arise from the inclusion of
income and expense in tax assessments in periods different from those in which they are recognised
in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively
enacted by the balance sheet date that are expected to apply to the reversal of timing differences.
Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured
using the rates and allowances that apply to the sale of the asset.

Page 4 continued...
Emmerson Kitney Ltd (Registered number: 06993883)

Notes to the Financial Statements - continued
for the year ended 31st December 2018

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease
term and the expected useful life of the asset. Minimum lease payments are apportioned between the
finance charge and the reduction of the outstanding lease liability using the effective interest method.
The related obligations, net of future finance charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a
straight line basis over the period of the lease.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the
employees are entitled are recognised at the undiscounted amount expected to be paid in exchange
for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are
expensed as they become payable.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are
recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss
account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2017 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st January 2018 - 42,578 42,578
Additions 177,022 14,293 191,315
At 31st December 2018 177,022 56,871 233,893
DEPRECIATION
At 1st January 2018 - 23,058 23,058
Charge for year - 7,565 7,565
At 31st December 2018 - 30,623 30,623
NET BOOK VALUE
At 31st December 2018 177,022 26,248 203,270
At 31st December 2017 - 19,520 19,520

Page 5 continued...
Emmerson Kitney Ltd (Registered number: 06993883)

Notes to the Financial Statements - continued
for the year ended 31st December 2018

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st January 2018
and 31st December 2018 100
NET BOOK VALUE
At 31st December 2018 100
At 31st December 2017 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 146,033 173,797
Other debtors 35,112 21,808
181,145 195,605

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts 10,410 -
Trade creditors 21,961 22,551
Taxation and social security 111,624 128,673
Other creditors 26,067 28,005
170,062 179,229

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2018 2017
£    £   
Bank loans 104,532 -

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 59,125 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Bank loans 114,942 -

The bank loan is secured over the assets of the company.

Page 6 continued...
Emmerson Kitney Ltd (Registered number: 06993883)

Notes to the Financial Statements - continued
for the year ended 31st December 2018

10. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance
sheet amount to £nil, (2017 - £30,000)

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102
'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related
party transactions with wholly owned subsidiaries within the group.

Included in other creditors are amounts due to the directors of £5,320 (2017 £4,834).

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D R Kitney.

Page 7