KRR (UK) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05741844 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2020

for

KRR (UK) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R Vogel

M J Anderson

REGISTERED OFFICE:

Home Farm Business Unit 7

Loseley Park

Guildford

Surrey

GU3 1HS

REGISTERED NUMBER:

05741844 (England and Wales)

ACCOUNTANTS:

Bennewith 2018 Limited

t/a A J Bennewith & Co

3 Wey Court

Mary Road

Guildford

Surrey

GU1 4QU

FIXED ASSETS

Tangible assets

4

43,003

28,807

CURRENT ASSETS

Stocks

272,638

220,397

Debtors

5

1,431,946

563,100

Cash at bank

128,793

800,118

1,833,377

1,583,615

CREDITORS

Amounts falling due within one year

6

501,345

384,306

NET CURRENT ASSETS

1,332,032

1,199,309

TOTAL ASSETS LESS CURRENT LIABILITIES

1,375,035

1,228,116

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,374,935

1,228,016

SHAREHOLDERS' FUNDS

1,375,035

1,228,116

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 23 September 2020 and were signed on its behalf by:

M J Anderson - Director

1.	STATUTORY INFORMATION

KRR (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.

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 represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

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

residual life:

Short leasehold

- Straight life over the remaining life of the lease.

Fixtures and fittings

- Straight line over 5 years.

Motor vehicles

- Straight line over 5 years.

Computer equipment

- Straight line over 3 years.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2019 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Motor

Computer

leasehold

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 May 2019

69,339

182,969

42,945

63,241

358,494

Additions

367

28,478

-

800

29,645

At 30 April 2020

69,706

211,447

42,945

64,041

388,139

DEPRECIATION

At 1 May 2019

67,579

175,487

28,661

57,960

329,687

Charge for year

770

3,872

6,700

4,107

15,449

At 30 April 2020

68,349

179,359

35,361

62,067

345,136

NET BOOK VALUE

At 30 April 2020

1,357

32,088

7,584

1,974

43,003

At 30 April 2019

1,760

7,482

14,284

5,281

28,807

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Trade debtors

743,002

492,461

Other debtors

688,944

70,639

1,431,946

563,100

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Trade creditors

201,125

83,842

Taxation and social security

176,521

193,155

Other creditors

123,699

107,309

501,345

384,306

7.	OTHER FINANCIAL COMMITMENTS

At 30 April 2020 the company had a commitment to make annual payments totalling £28,400 (2019: £10,800)

under an operating lease for land and buildings.

During the year, the company undertook two new operating leases for land and property, both effective from

May 2019. The first lease is for £13,400 per annum for a period of 10 years with a break clause after 5 years.

The second lease is for £15,000 per annum, also for a period of 10 years with an option for the tenant to break

the lease after 3 years by giving 6 months' written notice. The total of all payments due between 30 April 2020

and the expiry of these two leases is £255,600.

The previous operating lease expired in May 2019 and the total of all payments due between 30 April 2019 and

the expiry of the lease was £900.

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2020 and

30 April 2019:

30.4.20

30.4.19

£

£

R Vogel

Balance outstanding at start of year

1,094

1,354

Amounts advanced

312

1,094

Amounts repaid

(1,094

)

(1,354

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

312

1,094

9.	RELATED PARTY DISCLOSURES

Related party disclosures- Mr R Vogel

Mr R Vogel is a director and minority shareholder. He was the controlling shareholder of KRR (UK) Limited

(KRR) from 1 May 2019 to 10 October 2019. During the year, total dividends of £3,000 (2019: £7,200) were

paid to Mr R Vogel. Other transactions with Mr R Vogel are shown in note 10 to the accounts. He is also a

director and controlling shareholder of Vogel Waste Industry Services Limited (VWIS).

At 30 April 2020 VWIS owed £0 to KRR (2019: £9,438), which was included in the trade debtors figure in these

accounts. At 30 April 2020 KRR owed £24,010 (2019: £0) to VWIS, included in the trade creditors figure in these

accounts. The balance on the inter-company loan account at 30 April 2020, included in the Other Creditors

figure in the accounts, was £4,854 owed by VWIS to KRR (2019: £2,225 owed by KRR to VWIS).

During the year ended 30 April 2020 KRR invoiced VWIS £0 (2019: £3,240) for rent and utilities on shared

business premises.

During the year ended 30 April 2020 VWIS invoiced KRR £0 (2019: £8,075) for rent on shared business

premises, £55,383 (2019: £45,833) for consultancy fees and £9,640 (2019: £24,100) for subcontractor costs.

Additional consultancy fees of £0 (2019: £4,167) were accrued at the year-end.

No remuneration was paid by KRR to Mr R Vogel in the year ended 30 April 2020 (2019: £0), but the

consultancy fees mentioned above include £55,383 (2019: £45,833) paid to VWIS and £0 ( 2019: £4,167)

accrued in consideration for consultancy services supplied to KRR by Mr Vogel, the director of both companies.

At 30 April 2020, the director owed a loan balance of £312 to KRR (2019: £1,094). The loan is unsecured,

interest-free and was repaid in full within 9 months of the year-end.

Related party disclosures- Mr M Anderson

Mr M Anderson was appointed as a director on 11 October 2019. He became the controlling shareholder of

KRR (UK) Limited through Anderson Holdings (KRR) Limited on 11 October 2019. He is a director and

controlling shareholder of Anderson Holdings (KRR) Limited.During the year, dividends of £113,807 were paid

to Anderson Holdings (KRR) Limited.

The balance on the inter-company loan account at 30 April 2020 was £638,807 (2019: £0), owed by Anderson

Holdings (KRR) Limited and included in Other Debtors in these accounts.

Other related party disclosures

The company paid for Directors and Officers Liability Insurance costing £2,128 (2019: £950).

All the above transactions took place on an arms-length basis under normal terms of business.

10.	ULTIMATE CONTROLLING PARTY

At the Balance Sheet date the company was controlled by a director, Mr Michael Anderson, who held 66% of

its issued share capital through Anderson Holdings (KRR) Ltd.

11.

CHARGES

At the Balance Sheet date, there were two charges over the company's assets. The first charge contains a fixed

and floating charge over the freehold, leasehold and commonhold property of the company. The second

charge contains a fixed and floating charge over the freehold, leasehold land and buildings, plant and

machinery and intellectual property, owned at the date of the charge and in the future.