Keitone Building Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08738923 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

KEITONE BUILDING LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

Mr A K Hayes

Mr S N Kohut

REGISTERED OFFICE:

Southbank Charlton Drive

Charlton Kings

Cheltenham

Gloucestershire

GL53 8ES

REGISTERED NUMBER:

08738923 (England and Wales)

ACCOUNTANTS:

Mitchell Glanville Limited

41 Rodney Road

Cheltenham

Gloucestershire

GL50 1HX

FIXED ASSETS

Intangible assets

4

70,208

75,223

Tangible assets

5

26,404

34,594

96,612

109,817

CURRENT ASSETS

Debtors

6

159,596

19,233

Cash at bank

33,566

55,372

193,162

74,605

CREDITORS

Amounts falling due within one year

7

148,542

91,586

NET CURRENT ASSETS/(LIABILITIES)

44,620

(16,981

)

TOTAL ASSETS LESS CURRENT LIABILITIES

141,232

92,836

CREDITORS

Amounts falling due after more than one year

8

(6,977

)

(11,513

)

PROVISIONS FOR LIABILITIES

(1,135

)

(2,320

)

NET ASSETS

133,120

79,003

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

133,020

78,903

SHAREHOLDERS' FUNDS

133,120

79,003

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 and authorised for issue on 12 May 2020 and were signed on its behalf by:

Mr S N Kohut - Director

Mr A K Hayes - Director

1.	STATUTORY INFORMATION

Keitone Building 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

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.

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2019

and 31 December 2019

100,298

AMORTISATION

At 1 January 2019

25,075

Charge for year

5,015

At 31 December 2019

30,090

NET BOOK VALUE

At 31 December 2019

70,208

At 31 December 2018

75,223

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2019

53,282

Additions

499

At 31 December 2019

53,781

DEPRECIATION

At 1 January 2019

18,688

Charge for year

8,689

At 31 December 2019

27,377

NET BOOK VALUE

At 31 December 2019

26,404

At 31 December 2018

34,594

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

Plant and

machinery

etc

£

COST

At 1 January 2019

and 31 December 2019

19,941

DEPRECIATION

At 1 January 2019

4,985

Charge for year

3,739

At 31 December 2019

8,724

NET BOOK VALUE

At 31 December 2019

11,217

At 31 December 2018

14,956

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

159,335

18,938

Prepayments

261

295

159,596

19,233

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

4,536

6,583

Trade creditors

19,635

1,432

Tax

32,634

9,085

Social security and other taxes

2,400

1,369

VAT

25,355

9,881

Directors' current accounts

61,782

61,036

Accrued expenses

2,200

2,200

148,542

91,586

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

6,977

11,513

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other creditors is a loan from the directors Mr A K Hayes of £30,924 (2018 : £30,551) and Mr S N Kohut of

£30,858 (2018 : £30,485). These loans have no repayment terms and do not attract interest.

Dividends of £74,900 were equally paid to the directors during the year.

10.	ULTIMATE CONTROLLING PARTY

Mr A Hayes and Mr S Kohut are the controlling parties, owning all the voting shares in the company between them.

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 Balance Sheet.

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 Keitone Building Ltd for the year ended 31 December 2019 which comprise the Income Statement, Balance Sheet,

Statement of Changes in Equity 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 Keitone Building Ltd, 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 Keitone Building Ltd and state those matters that we have agreed to state to the Board of Directors of Keitone Building Ltd, 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 Keitone Building Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Keitone Building Ltd 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 Keitone Building Ltd. You consider that Keitone Building Ltd 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 Keitone Building Ltd. 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.

Mitchell Glanville Limited

41 Rodney Road

Cheltenham

Gloucestershire

GL50 1HX

Date: .............................................