Kite Environmental Solutions Limited - Accounts to registrar (filleted) - small 18.2
Kite Environmental Solutions Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2021 |
| FOR |
| KITE ENVIRONMENTAL SOLUTIONS LIMITED |
| KITE ENVIRONMENTAL SOLUTIONS LIMITED (REGISTERED NUMBER: 04592964) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 December 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| KITE ENVIRONMENTAL SOLUTIONS LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 December 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants |
| Statutory Auditor |
| One Eastwood |
| Harry Weston Road |
| Binley Business Park |
| Coventry |
| CV3 2UB |
| BANKERS: |
| 125 Colmore Row |
| Birmingham |
| B3 3SD |
| KITE ENVIRONMENTAL SOLUTIONS LIMITED (REGISTERED NUMBER: 04592964) |
| BALANCE SHEET |
| 31 December 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| KITE ENVIRONMENTAL SOLUTIONS LIMITED (REGISTERED NUMBER: 04592964) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 December 2021 |
| 1. | STATUTORY INFORMATION |
| Kite Environmental Solutions Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover reflects revenue from the rendering of services and is recognised in the period in which services are delivered. |
| Tangible fixed assets |
| Tangible fixed assets are recognised at cost and subsequently measured under the historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes any direct expenditure incurred to bring the asset to its current location and condition necessary for the asset to work as intended by management. |
| Repairs and maintenance costs are charged to the statement of comprehensive income in the period in which they are incurred. |
| Depreciation is provided at the following annual rates in order to write off the cost of each asset over its estimated useful life. |
| Office furniture | - 20% on cost |
| Computer software | - 42% on cost |
| Any gains and losses on the disposal of tangible fixed assets are recognised in the statement of comprehensive income in the year that the disposal takes place. |
| 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. |
| KITE ENVIRONMENTAL SOLUTIONS LIMITED (REGISTERED NUMBER: 04592964) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 December 2021 |
| 3. | ACCOUNTING POLICIES - continued |
| 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. |
| 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. |
| Debtors and creditors receivable / payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction value. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | TANGIBLE FIXED ASSETS |
| Computer | Office |
| software | furniture | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2021 |
| and 31 December 2021 |
| DEPRECIATION |
| At 1 January 2021 |
| Charge for year |
| At 31 December 2021 |
| NET BOOK VALUE |
| At 31 December 2021 |
| At 31 December 2020 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Tax |
| Prepayments |
| KITE ENVIRONMENTAL SOLUTIONS LIMITED (REGISTERED NUMBER: 04592964) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 December 2021 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Tax |
| Social security and other taxes |
| Accruals and deferred income |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2021 | 2020 |
| value: | £ | £ |
| Ordinary | £1 | 100,000 | 100,000 |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 10. | RELATED PARTY DISCLOSURES |
| Related party transactions with fellow subsidiaries and holding company have not been disclosed as the company is a wholly-owned subsidiary and is included within the consolidated accounts of the group. |
| 11. | ULTIMATE CONTROLLING PARTY |
| The Company is a wholly-owned subsidiary of Kite Packaging Group Limited (KPG) and its ultimate parent company is Kite Packaging Group Holdings Limited (KPGH). |
| The registered office and principal place of business of KPG and KPGH is 186 Torrington Avenue, Tile Hill, Coventry, West Midlands, UK, CV4 9AJ. |