Geku U.K. Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03047206 (England and Wales)

Financial Statements For The Year Ended 31st December 2018

for

Geku U.K. Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N A Richardson

J R Hudson

SECRETARY:

J R Hudson

REGISTERED OFFICE:

Unit H2 Knights Park

Knights Road

Strood

Rochester

Kent

ME2 2LS

REGISTERED NUMBER:

03047206 (England and Wales)

ACCOUNTANTS:

Beak Kemmenoe

Chartered Accountants

1-3 Manor Road

Chatham

Kent

ME4 6AE

FIXED ASSETS

Tangible assets

4

470,641

462,314

CURRENT ASSETS

Stocks

111,349

112,391

Debtors

5

323,730

245,057

Cash at bank

595,735

380,119

1,030,814

737,567

CREDITORS

Amounts falling due within one year

6

652,555

498,627

NET CURRENT ASSETS

378,259

238,940

TOTAL ASSETS LESS CURRENT LIABILITIES

848,900

701,254

CREDITORS

Amounts falling due after more than one year

7

211,364

271,597

NET ASSETS

637,536

429,657

CAPITAL AND RESERVES

Called up share capital

6

6

Retained earnings

637,530

429,651

SHAREHOLDERS' FUNDS

637,536

429,657

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 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 applicable to companies subject to the small companies regime.

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 23rd September 2019 and were signed on its behalf by:

J R Hudson - Director

1.	STATUTORY INFORMATION

Geku U.K. 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 the total amount receivable by the company for goods supplied and services provided excluding

VAT and trade discounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance and 10% on reducing balance

Motor vehicles

-

at varying rates on cost

Furniture and equipment

-

at varying rates on cost

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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 27 (2017 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Furniture

Long

Plant and

Motor

and

leasehold

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st January 2018

353,115

190,418

35,020

64,633

643,186

Additions

-

-

42,297

8,949

51,246

Disposals

-

-

(13,225

)

-

(13,225

)

At 31st December 2018

353,115

190,418

64,092

73,582

681,207

DEPRECIATION

At 1st January 2018

-

105,669

29,014

46,189

180,872

Charge for year

-

21,199

11,144

6,849

39,192

Eliminated on disposal

-

-

(9,498

)

-

(9,498

)

At 31st December 2018

-

126,868

30,660

53,038

210,566

NET BOOK VALUE

At 31st December 2018

353,115

63,550

33,432

20,544

470,641

At 31st December 2017

353,115

84,749

6,006

18,444

462,314

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1st January 2018

and 31st December 2018

67,000

DEPRECIATION

At 1st January 2018

22,421

Charge for year

10,992

At 31st December 2018

33,413

NET BOOK VALUE

At 31st December 2018

33,587

At 31st December 2017

44,579

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

180,791

107,715

Other debtors & prepayments

142,939

137,342

323,730

245,057

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

50,591

50,096

Hire purchase contracts

9,643

9,117

Trade creditors

301,016

283,821

Taxation and social security

69,522

58,729

Other creditors & accruals

221,783

96,864

652,555

498,627

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

195,915

246,505

Hire purchase contracts

15,449

25,092

211,364

271,597

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

43,956

59,349

8.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank overdraft

-

28

Bank loans

246,506

296,573

Hire purchase contracts

25,092

34,209

271,598

330,810

Bank loans and overdrafts are secured by a fixed and floating charge on the property, book debts and a debenture

over all other assets.

A loan from The Kent County Council is secured by a fixed charge on the property.

Obligations under hire purchase and finance lease contracts are secured on the assets concerned.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st December 2018 and

31st December 2017:

2018

2017

£

£

N A Richardson

Balance outstanding at start of year

-

-

Amounts advanced

4,112

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

4,112

-

No amounts were written off, any loans are interest free and repayable on demand. All loans have been repaid

within 9 months of the year end.