Kalimantan Construction Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11870752 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

KALIMANTAN CONSTRUCTION LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs G A Wallis

Mr D J Wallis

REGISTERED OFFICE:

Ysgubor Bran

Nant Bran Farm

Duffryn Lane

St Nicholas

Vale of Glamorgan

CF5 6SU

REGISTERED NUMBER:

11870752 (England and Wales)

ACCOUNTANTS:

Sullivans Chartered Accountants

13-14 Gelliwastad Road

Pontypridd

Rhondda Cynon Taf

CF37 2BW

FIXED ASSETS

Property, plant and equipment

4

2,891

3,854

CURRENT ASSETS

Inventories

4,083

5,000

Debtors

5

29,061

81,791

Cash at bank

4,230

5,587

37,374

92,378

CREDITORS

Amounts falling due within one year

6

59,656

50,202

NET CURRENT (LIABILITIES)/ASSETS

(22,282

)

42,176

TOTAL ASSETS LESS CURRENT LIABILITIES

(19,391

)

46,030

CREDITORS

Amounts falling due after more than one year

7

(31,446

)

(43,333

)

PROVISIONS FOR LIABILITIES

(549

)

(732

)

NET (LIABILITIES)/ASSETS

(51,386

)

1,965

CAPITAL AND RESERVES

Called up share capital

9

200

200

Retained earnings

(51,586

)

1,765

SHAREHOLDERS' FUNDS

(51,386

)

1,965

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 22 December 2022 and were signed on its behalf by:

Mrs G A Wallis - Director

Mr D J Wallis - Director

1.	STATUTORY INFORMATION

Kalimantan Construction 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.

Going Concern

The directors have assessed the ongoing uncertainty in the industry due to the COVID pandemic, along with the unexpected price increases in materials and labour.

With the support of the company Bank, the directors secured funding to assist the business. The company continued to receive financial support from its funders and directors.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognized based upon building service contracts as the contract activity progresses. Where applicable, turnover will include amounts recoverable on contract, based upon the completion percentage at each year end.

.

Tangible fixed assets

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

Motor vehicles

-

25% on reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 7 (2021 - 8 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 April 2021

and 31 March 2022

6,667

DEPRECIATION

At 1 April 2021

2,813

Charge for year

963

At 31 March 2022

3,776

NET BOOK VALUE

At 31 March 2022

2,891

At 31 March 2021

3,854

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/22

31/3/21

£

£

Amounts recoverable on contract

6,000

25,000

Other debtors

23,061

56,791

29,061

81,791

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/22

31/3/21

£

£

Bank loans and overdrafts

10,648

6,667

Trade creditors

19,966

28,444

Taxation and social security

2,234

11,953

Other creditors

26,808

3,138

59,656

50,202

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/22

31/3/21

£

£

Bank loans

31,446

43,333

8.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/22

31/3/21

£

£

Bank loans

42,094

50,000

The Bounce Back Loan is substantially secured by the government.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/22

31/3/21

value:

£

£

100

Ordinary

£100

100

100

25

Ordinary A

£25

25

25

25

Ordinary B

£25

25

25

50

Ordinary C

£50

50

50

200

200

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2022 and 31 March 2021:

31/3/22

31/3/21

£

£

Mrs G A Wallis

Balance outstanding at start of year

13,000

10,000

Amounts advanced

-

13,000

Amounts repaid

(13,000

)

(10,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

13,000

Mr D J Wallis

Balance outstanding at start of year

13,000

-

Amounts advanced

-

20,000

Amounts repaid

(13,000

)

(7,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

13,000

Mr J W Pritchard

Balance outstanding at start of year

30,000

-

Amounts advanced

-

54,000

Amounts repaid

(30,000

)

(24,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

30,000