Emmerson Kitney Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06993883 (England and Wales)

Emmerson Kitney Ltd

Unaudited Financial Statements for the Year Ended 31st December 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D R Kitney

REGISTERED OFFICE:

The Old Foundry

Cowgate

Welton

East Yorkshire

HU15 1NB

REGISTERED NUMBER:

06993883 (England and Wales)

ACCOUNTANTS:

Smailes Goldie

Chartered Accountants

Regent's Court

Princess Street

Hull

East Yorkshire HU2 8BA

FIXED ASSETS

Tangible assets

4

176,942

184,419

Investments

5

100

100

177,042

184,519

CURRENT ASSETS

Debtors

6

123,469

36,213

Cash at bank and in hand

112,056

178,750

235,525

214,963

CREDITORS

Amounts falling due within one year

7

99,858

93,062

NET CURRENT ASSETS

135,667

121,901

TOTAL ASSETS LESS CURRENT LIABILITIES

312,709

306,420

CREDITORS

Amounts falling due after more than one year

8

(117,042

)

(143,376

)

PROVISIONS FOR LIABILITIES

(2,003

)

(2,751

)

NET ASSETS

193,664

160,293

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

193,564

160,193

SHAREHOLDERS' FUNDS

193,664

160,293

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 18th August 2022 and were signed by:

D R Kitney - Director

1.	STATUTORY INFORMATION

Emmerson Kitney 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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery

- 33% on cost

Fixtures and fittings

- 15% on cost

Freehold property

- 2% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less impairment.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Hire purchase and leasing commitments

Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2020 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st January 2021

177,022

54,825

231,847

Additions

-

2,016

2,016

Disposals

-

(1,728

)

(1,728

)

At 31st December 2021

177,022

55,113

232,135

DEPRECIATION

At 1st January 2021

7,081

40,347

47,428

Charge for year

3,540

5,290

8,830

Eliminated on disposal

-

(1,065

)

(1,065

)

At 31st December 2021

10,621

44,572

55,193

NET BOOK VALUE

At 31st December 2021

166,401

10,541

176,942

At 31st December 2020

169,941

14,478

184,419

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st January 2021

and 31st December 2021

100

NET BOOK VALUE

At 31st December 2021

100

At 31st December 2020

100

6.

DEBTORS

2021

2020

£

£

Amounts falling due within one year:

Trade debtors

3,600

24,254

Other debtors

49,869

11,959

53,469

36,213

Amounts falling due after more than one year:

Other debtors

70,000

-

Aggregate amounts

123,469

36,213

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

21,672

9,160

Trade creditors

7,436

7,282

Amounts owed to group undertakings

1,658

-

Taxation and social security

43,580

58,198

Other creditors

25,512

18,422

99,858

93,062

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

117,042

143,376

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

32,466

54,969

9.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

93,713

102,536

The bank loan is secured over the assets of the company.

10.	OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £9,299 (2020 - £Nil).

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st December 2021 and 31st December 2020:

2021

2020

£

£

D R Kitney

Balance outstanding at start of year

(1,063

)

18,746

Amounts advanced

80,173

10,244

Amounts repaid

(67,989

)

(30,053

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

11,121

(1,063

)

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D R Kitney.