K2 Mechanical And Electrical Services Ltd
K2 Mechanical And Electrical Services Ltd
Registered number: 06381402
Unaudited ABRIDGED Financial Statements
For The Year Ended
31 August 2021
K2 Mechanical And Electrical Services Ltd
Unaudited Financial Statements
For The Year Ended
31 August 2021
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Abridged Balance Sheet | 2—3 |
| Notes to the Abridged Financial Statements | 4—6 |
K2 Mechanical And Electrical Services Ltd
Abridged Balance Sheet
As at
31 August 2021
Abridged Balance Sheet
Registered number:
06381402
For the year ending 31 August 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 3 |
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| Tangible Assets | 4 |
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| Investments | 5 |
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| CURRENT ASSETS | |||||
| Stocks |
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| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 7 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 2,866,237 | 2,685,452 | |||
K2 Mechanical And Electrical Services Ltd
Abridged Balance Sheet (continued)
As at
31 August 2021
Director's responsibilities
-
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
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All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 August 2021 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
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Director
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The notes on pages 4 to 6 form part of these financial statements.
K2 Mechanical And Electrical Services Ltd
Notes to the Abridged Financial Statements
For The Year Ended
31 August 2021
Notes to the Abridged Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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| Motor Vehicles |
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| Computer Equipment |
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1.5.
Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.6.
Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
2.
Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2020: 4)
K2 Mechanical And Electrical Services Ltd
Notes to the Abridged Financial Statements (continued)
For The Year Ended
31 August 2021
3.
Intangible Assets
| Total | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at
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| As at
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| Amortisation | |||
| As at
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| Provided during the period |
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| As at
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| Net Book Value | |||
| As at
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| As at
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4.
Tangible Assets
| Total | |
|---|---|
| £ | |
| Cost | |
| As at
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| Additions |
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| Disposals |
( |
| As at
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| Depreciation | |
| As at
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| Provided during the period |
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| Disposals |
( |
| As at
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| Net Book Value | |
| As at
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| As at
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K2 Mechanical And Electrical Services Ltd
Notes to the Abridged Financial Statements (continued)
For The Year Ended
31 August 2021
5.
Investments
| Total | |
|---|---|
| £ | |
| Cost | |
| As at
|
545,000 |
| Disposals | (425,000) |
| As at
|
120,000 |
| Provision | |
| As at
|
- |
| As at
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- |
| Net Book Value | |
| As at
|
120,000 |
| As at
|
545,000 |
6.
Debtors
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Due after more than one year | |||
| Amounts owed by group undertakings |
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8.
General Information
K2 Mechanical And Electrical Services Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
06381402
. The registered office is Carlton House, Carlton Road, Dewsbury, West Yorkshire, WF13 2AT.