Kingfisher Enamelling Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03167285 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Kingfisher Enamelling Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr L R Sharp

Mr R C Hill

SECRETARY:

Mr L R Sharp

REGISTERED OFFICE:

5a Frascati Way

Maidenhead

Berkshire

SL6 4UY

REGISTERED NUMBER:

03167285 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

5a Frascati Way

Maidenhead

Berkshire

SL6 4UY

FIXED ASSETS

Tangible assets

4

165,208

149,433

CURRENT ASSETS

Stocks

28,842

16,841

Debtors

5

337,772

364,582

Cash at bank and in hand

109,595

139,618

476,209

521,041

CREDITORS

Amounts falling due within one year

6

(166,423

)

(166,695

)

NET CURRENT ASSETS

309,786

354,346

TOTAL ASSETS LESS CURRENT LIABILITIES

474,994

503,779

CREDITORS

Amounts falling due after more than one year

7

(45,342

)

(24,227

)

PROVISIONS FOR LIABILITIES

(18,349

)

(24,831

)

NET ASSETS

411,303

454,721

CAPITAL AND RESERVES

Called up share capital

4,000

4,000

Share premium

35,305

35,305

Retained earnings

371,998

415,416

SHAREHOLDERS' FUNDS

411,303

454,721

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 11 October 2019 and were signed on its behalf by:

Mr L R Sharp - Director

1.	STATUTORY INFORMATION

Kingfisher Enamelling Company 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

In the application of the company's accounting policies the directors are required to make

judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are

not readily apparent from other sources. The estimates and associated assumptions are based on

historical experience and other factors that are considered to be relevant. Actual results may differ

from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to

accounting estimates are recognised in the period in which the estimate is revised if the revision

affects only that period, or in the period of the revision and future periods if the revision affects

both current and future periods.

The company does not make significant estimates and assumptions concerning the future.

Turnover

Turnover represents the value of goods and services under contracts, provided in the period,

exclusive of Value Added Tax, to the extent that there is a right to consideration and is recorded at

the value of consideration due.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of 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 5% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stock and work in progress are valued at the lower of cost and net realisable value after making due

allowance for obsolete and slow-moving stocks. Cost includes all direct costs and appropriate

proportion of fixed and variable overheads.

Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method,

except for investments in non-convertible preference and non-puttable preference and ordinary

shares, which are measured at fair value, with changes recognised in profit or loss. Derivative

financial instruments are initially recorded at cost and therefore at fair value, with changes

recognised in profit and loss.

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 and finance leases are capitalised as tangible fixed

assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and

their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful

lives. Finance leases are those where substantially all of the benefits and risks of ownership are

assumed by the company. Obligations under such agreements are included in creditors net of the

finance charge allocated to future periods. The finance element of the rental payment is charged to

the profit and loss account so as to produce a constant periodic rate of charge on the net obligation

outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership

remain with the lessor are charged to the profit and loss account on a straight line basis over the

period of the lease.

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 12 (2018 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

473,685

Additions

78,983

Disposals

(41,937

)

At 31 March 2019

510,731

DEPRECIATION

At 1 April 2018

324,252

Charge for year

35,264

Eliminated on disposal

(13,993

)

At 31 March 2019

345,523

NET BOOK VALUE

At 31 March 2019

165,208

At 31 March 2018

149,433

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases

are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2018

111,818

Additions

61,985

Disposals

(41,937

)

At 31 March 2019

131,866

DEPRECIATION

At 1 April 2018

43,115

Charge for year

24,653

Eliminated on disposal

(13,993

)

At 31 March 2019

53,775

NET BOOK VALUE

At 31 March 2019

78,091

At 31 March 2018

68,703

5.

DEBTORS

31.3.19

31.3.18

£

£

Amounts falling due within one year:

Trade debtors

122,089

159,801

Other debtors

45,160

50,925

167,249

210,726

Amounts falling due after more than one year:

Other debtors

170,523

153,856

Aggregate amounts

337,772

364,582

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Hire purchase contracts and finance leases (see note 8)

31,066

30,165

Trade creditors

59,494

59,289

Taxation and social security

48,956

50,929

Other creditors

26,907

26,312

166,423

166,695

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Hire purchase contracts and finance leases (see note 8)

45,342

24,227

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

Finance leases

31.3.19

31.3.18

31.3.19

31.3.18

£

£

£

£

Net obligations repayable:

Within one year

30,675

17,624

391

12,541

Between one and five years

45,342

23,836

-

391

76,017

41,460

391

12,932

Non-cancellable

operating leases

31.3.19

31.3.18

£

£

Within one year

45,000

45,000

Between one and five years

52,500

97,500

97,500

142,500

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2019

and 31 March 2018:

31.3.19

31.3.18

£

£

Mr R C Hill

Balance outstanding at start of year

8,287

1,770

Amounts advanced

-

6,517

Amounts repaid

(8,287

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

8,287

10.	RELATED PARTY DISCLOSURES

Boxblade Limited

A company in which Mr R C Hill is a shareholder

During the year Kingfisher Enamelling Company Limited incurred management charges from

Boxblade Limited on normal commercial terms totalling £160,450 (2018: £159,169).

As at the period end £885 (2018:£420) was owed to Boxblade Limited.

Forensic Data and Software Services Limited

A company in which Mr R C Hill is a shareholder.

As at the period end £170,523 (2018:£153,856) was owed from Forensic Data and Software Services

Limited.

Alpha Anodising UK Limited

A company in which Mr R C Hill is a shareholder.

As at the period end £10,000 (2018:£7,770) was owed from Alpha Anodising UK Limited.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr R C Hill by virtue of his 69% share capital.