K.A.L. Fixings UK Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05057565 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2020

FOR

K.A.L. FIXINGS UK LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

A M Gerrard

K J Wheatley

SECRETARY:

A M Gerrard

REGISTERED OFFICE:

82 High Street

Sawston

Cambridge

CB22 3HJ

REGISTERED NUMBER:

05057565 (England and Wales)

ACCOUNTANTS:

The Paris Partnership LLP

Chartered Accountants

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

FIXED ASSETS

Tangible assets

4

805

-

CURRENT ASSETS

Stocks

10,818

4,871

Debtors

5

51,679

61,882

Cash at bank

10,251

4,718

72,748

71,471

CREDITORS

Amounts falling due within one year

6

(54,376

)

(60,778

)

NET CURRENT ASSETS

18,372

10,693

TOTAL ASSETS LESS CURRENT LIABILITIES

19,177

10,693

CAPITAL AND RESERVES

Called up share capital

7

300

300

Retained earnings

8

18,877

10,393

SHAREHOLDERS' FUNDS

19,177

10,693

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2020 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 and authorised for issue on 27 April 2020 and were signed on its behalf by:

K J Wheatley - Director

1.	STATUTORY INFORMATION

K.A.L. Fixings UK 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.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Computer equipment

-

33.33% 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.

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.

Interest payable

Interest payable is charged to the profit and loss account on an accruals basis.

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.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured

at transaction price including transaction and where material are subsequently measured at amortised cost using

the effective interest method, less any impairment.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and loans from company undertakings that are

classified as debt are initially measured at transaction price unless the arrangement constitutes a financing

transaction, where the debt instrument is measured at the present value of the future payments discounted at

the market rate of interest .

Trade creditors are obligations to pay for goods or services that have been acquired that have been acquired in

the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if a

payment is due within one year or less. If not, they are present as non current liabilities. Short term creditors are

initially recognised at transaction price and where material are subsequently measured at amortised cost using

the effective interest method

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid

investments with original maturities of three months or less.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2019 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 March 2019

-

3,321

3,321

Additions

459

692

1,151

At 29 February 2020

459

4,013

4,472

DEPRECIATION

At 1 March 2019

-

3,321

3,321

Charge for year

115

231

346

At 29 February 2020

115

3,552

3,667

NET BOOK VALUE

At 29 February 2020

344

461

805

At 28 February 2019

-

-

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

50,799

60,967

Other debtors

880

915

51,679

61,882

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

38,906

48,300

Taxation and social security

13,788

11,696

Other creditors

1,682

782

54,376

60,778

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

300

Ordinary

£1

300

300

8.

RESERVES

Retained

earnings

£

At 1 March 2019

10,393

Profit for the year

49,284

Dividends

(40,800

)

At 29 February 2020

18,877

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2020 and

28 February 2019:

2020

2019

£

£

K J Wheatley

Balance outstanding at start of year

(146

)

(371

)

Amounts advanced

19,950

19,825

Amounts repaid

(20,400

)

(19,600

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(596

)

(146

)

A M Gerrard

Balance outstanding at start of year

(186

)

(411

)

Amounts advanced

19,950

19,825

Amounts repaid

(20,400

)

(19,600

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(636

)

(186

)

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of K.A.L. Fixings UK Limited for the year ended 29 February 2020 which comprise the Income

Statement, Statement of Financial Position and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of K.A.L. Fixings UK Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of K.A.L. Fixings UK Limited and state those matters that we have agreed to state to the Board of Directors of K.A.L. Fixings UK Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than K.A.L. Fixings UK Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that K.A.L. Fixings UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of K.A.L. Fixings UK Limited. You consider that K.A.L. Fixings UK Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of K.A.L. Fixings UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Paris Partnership LLP

Chartered Accountants

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

27 April 2020