Kristen Ltd - Accounts to registrar (filleted) - small 18.2
Kristen Ltd - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
KRISTEN LTD |
AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 |
KRISTEN LTD (REGISTERED NUMBER: NI046340) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
Page |
Company information | 1 |
Statement of financial position | 2 |
Notes to the financial statements | 3 |
KRISTEN LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Independent auditors: |
Chartered Accountants and Statutory Auditors |
36-38 Northland Row |
Dungannon |
Co. Tyrone |
BT71 6AP |
KRISTEN LTD (REGISTERED NUMBER: NI046340) |
STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2018 |
2018 | 2017 |
Notes | £ | £ |
NON-CURRENT ASSETS |
Property, plant and equipment | 5 |
CURRENT ASSETS |
Inventories |
Receivables | 6 |
Cash at bank |
PAYABLES |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 8 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 its behalf by: |
KRISTEN LTD (REGISTERED NUMBER: NI046340) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
1. | STATUTORY INFORMATION |
Kristen Ltd is a |
registered number and registered office address can be found on the Company Information page. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue |
The revenue shown in the Income Statement represents amounts received or receivable for goods |
provided in the normal course of business, exclusive of Value Added Tax. Revenue is recognised on |
the delivery of goods to the customer. |
Property, plant and equipment and depreciation |
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. |
The charge to depreciation is calculated to write off the original cost or valuation of property, plant |
and equipment, less their estimated residual value, over their expected useful lives as follows: |
Fixtures, fittings and equipment - 25% Straight line |
Motor vehicles - 25% Straight line |
The carrying values of property, plant and equipment are reviewed annually for impairment in |
periods if events or changes in circumstances indicate the carrying value may not be recoverable. |
Inventories |
Inventories are valued at the lower of cost and net realisable value. Inventories are determined on |
a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in |
bringing inventories to their present location and condition. Net realisable value comprises actual |
or estimated selling price (net of trade discounts) less all further costs to completion or to be |
incurred in marketing and selling. Full provision is made for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current 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 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. |
KRISTEN LTD (REGISTERED NUMBER: NI046340) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
3. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of |
exchange ruling at the Statement of Financial Position date. Non-monetary items that are |
measured in terms of historical cost in a foreign currency are translated at the rates of exchange |
ruling at the date of the transaction. Non-monetary items that are measured at fair value in a |
foreign currency are translated using the exchange rates at the date when the fair value was |
determined. The resulting exchange differences are dealt with in the Income Statement. |
Hire purchase and leasing commitments |
Property, plant and equipment held under leasing and Hire Purchases arrangements which transfer |
substantially all the risks and rewards of ownership to the company are capitalised and included in |
the Statement of Financial Position at their cost or valuation, less depreciation. The corresponding |
commitments are recorded as liabilities. Payments in respect of these obligations are treated as |
consisting of capital and interest elements, with interest charged to the Income Statement. |
Cash flow statement |
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare |
a Statement of Cash Flows because it is classified as a small company. |
Employee benefits |
The company operates a defined contribution pension scheme for employees. The assets of the |
scheme are held seperately from those of the company in an independently administered fund. |
Annual contributions payable to the company's pension scheme are charged to the Income |
Statement in the period to which they relate. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 January 2018 |
Additions |
At 31 December 2018 |
DEPRECIATION |
At 1 January 2018 |
Charge for year |
At 31 December 2018 |
NET BOOK VALUE |
At 31 December 2018 |
At 31 December 2017 |
KRISTEN LTD (REGISTERED NUMBER: NI046340) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
6. | RECEIVABLES LESS THAN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade receivables |
Amounts owed by group undertakings |
Other receivables |
Deferred tax asset |
Prepayments |
7. | PAYABLES LESS THAN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade payables |
Amounts owed to group undertakings |
Taxation and social security |
Other payables |
8. | PROVISIONS FOR LIABILITIES |
2017 |
£ |
Deferred tax | 2,379 |
Deferred tax |
£ |
Balance at 1 January 2018 |
Credit to Income statement during year | ( |
) |
Balance at 31 December 2018 | ( |
) |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
Ordinary | 1 | 100 | 100 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the auditors was unqualified. |
for and on behalf of |
11. | RELATED PARTY TRANSACTIONS |
The company has availed of the exemption under FRS 102 in relation to the disclosure of |
transactions with group companies. |
KRISTEN LTD (REGISTERED NUMBER: NI046340) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
12. | PARENT COMPANY |
The controlling party is Northstone Limited. |
The company regards Northstone Limited, a company registered in the Republic of Ireland, as its |
parent company. The results of Kristen Limited are included in the consolidated financial |
statements of Northstone Limited, which are available at the company's registered office at Conex |
Works, Santry Avenue, Dublin 9, Ireland. |