K M Motor Engineering Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 07995374 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022

FOR

K M MOTOR ENGINEERING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

K J Mitchell

REGISTERED OFFICE:

72a High Street

Battle

East Sussex

TN33 0AG

REGISTERED NUMBER:

07995374 (England and Wales)

ACCOUNTANTS:

MVL Business Services

A trading name of Xynamo 5 Limited

6 Red Barn Mews

Battle

East Sussex

TN33 0AG

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

16,278

20,755

16,278

20,755

CURRENT ASSETS

Stocks

17,500

12,000

Debtors

6

37,071

55,040

Cash at bank and in hand

348,538

286,324

403,109

353,364

CREDITORS

Amounts falling due within one year

7

100,688

91,776

NET CURRENT ASSETS

302,421

261,588

TOTAL ASSETS LESS CURRENT LIABILITIES

318,699

282,343

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

318,698

282,342

318,699

282,343

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 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 23 January 2023 and were signed by:

K J Mitchell - Director

1.	STATUTORY INFORMATION

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance and 25% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 has not been recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. The directors do not believe that this is necessary and accept this accounting treatment does not comply with the Financial Reporting Standard 102.

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 4 (2021 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2021

and 30 April 2022

82,000

AMORTISATION

At 1 May 2021

and 30 April 2022

82,000

NET BOOK VALUE

At 30 April 2022

-

At 30 April 2021

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2021

56,022

Additions

949

At 30 April 2022

56,971

DEPRECIATION

At 1 May 2021

35,267

Charge for year

5,426

At 30 April 2022

40,693

NET BOOK VALUE

At 30 April 2022

16,278

At 30 April 2021

20,755

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

6,533

28,759

Other debtors

30,538

26,281

37,071

55,040

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

20,380

14,641

Taxation and social security

27,150

22,342

Other creditors

53,158

54,793

100,688

91,776

8.	ULTIMATE CONTROLLING PARTY

The controlling party is K J Mitchell.