Kes Air Technology Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04056683 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Kes Air Technology Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P Haynes

SECRETARY:

Mrs P Haynes

REGISTERED OFFICE:

3 Railway Court

Ten Pound Walk

Doncaster

DN4 5FB

REGISTERED NUMBER:

04056683 (England and Wales)

ACCOUNTANTS:

Royston Parkin Limited

2 President Buildings

Savile Street East

Sheffield

South Yorkshire

S4 7UQ

FIXED ASSETS

Property, plant and equipment

4

8,320

14,524

CURRENT ASSETS

Inventories

29,600

25,000

Debtors

5

28,766

49,516

58,366

74,516

CREDITORS

Amounts falling due within one year

6

63,100

78,308

NET CURRENT LIABILITIES

(4,734

)

(3,792

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,586

10,732

CREDITORS

Amounts falling due after more than one year

7

(1,873

)

(7,039

)

PROVISIONS FOR LIABILITIES

(1,581

)

(2,760

)

NET ASSETS

132

933

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

32

833

132

933

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 30 December 2020 and were signed by:

P Haynes - Director

1.	STATUTORY INFORMATION

Kes Air Technology 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

Revenue 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.

Stocks

Inventories 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

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 1 (2019 - 1 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 April 2019

and 31 March 2020

37,700

DEPRECIATION

At 1 April 2019

23,176

Charge for year

6,204

At 31 March 2020

29,380

NET BOOK VALUE

At 31 March 2020

8,320

At 31 March 2019

14,524

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

28,113

45,417

Other debtors

653

4,099

28,766

49,516

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

2,651

6,038

Hire purchase contracts

4,301

5,583

Trade creditors

37,664

41,202

Taxation and social security

8,469

4,751

Other creditors

10,015

20,734

63,100

78,308

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Hire purchase contracts

1,873

7,039

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2020 and 31 March 2019:

2020

2019

£

£

P Haynes

Balance outstanding at start of year

3,447

(26

)

Amounts advanced

35,699

3,473

Amounts repaid

(39,322

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(176

)

3,447

9.	RELATED PARTY DISCLOSURES

During the period the company paid rent charges of £35,000 (2019 - £32,000) to Gordons Refinishing Services Limited, a company which is owed by P Haynes.

At the period end the company owed £9,020 (2019 - £19,414) to Gordons Refinishing Services Limited. This amount is included within other creditors.