KATA Crushing & Recycling Finance Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06771840 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2022

for

KATA Crushing and Recycling Finance

Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mr R J Brown

Ms T A Wilson

SECRETARY:

Ms T A Wilson

REGISTERED OFFICE:

The Old Dairy

Mill Street

Packington

Ashby-de-la-Zouch

Leicestershire

LE65 1WN

REGISTERED NUMBER:

06771840 (England and Wales)

ACCOUNTANTS:

Landin Wilcock & Co

Chartered Accountants

68 Queen Street

Sheffield

South Yorkshire

S1 1WR

BANKERS:

Santander UK

Bridle Road

Bootle

Merseyside

L30 4GB

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of KATA Crushing and Recycling Finance Limited for the year ended 31 December 2022 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of KATA Crushing and Recycling Finance Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of KATA Crushing and Recycling Finance Limited and state those matters that we have agreed to state to the Board of Directors of KATA Crushing and Recycling Finance Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KATA Crushing and Recycling Finance Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that KATA Crushing and Recycling Finance Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of KATA Crushing and Recycling Finance Limited. You consider that KATA Crushing and Recycling Finance Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of KATA Crushing and Recycling Finance Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Landin Wilcock & Co

Chartered Accountants

68 Queen Street

Sheffield

South Yorkshire

S1 1WR

20 September 2023

FIXED ASSETS

Tangible assets

4

1,417

2,365

CURRENT ASSETS

Debtors

5

98,347

89,083

Cash at bank

9,190

627

107,537

89,710

CREDITORS

Amounts falling due within one year

6

(92,626

)

(82,316

)

NET CURRENT ASSETS

14,911

7,394

TOTAL ASSETS LESS CURRENT LIABILITIES

16,328

9,759

CREDITORS

Amounts falling due after more than one year

7

(21,874

)

(30,752

)

PROVISIONS FOR LIABILITIES

(1

)

(426

)

NET LIABILITIES

(5,547

)

(21,419

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(5,647

)

(21,519

)

(5,547

)

(21,419

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 20 September 2023 and were signed on its behalf by:

Ms T A Wilson - Director

1.	STATUTORY INFORMATION

KATA Crushing and Recycling Finance 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

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

Fixtures and fittings

-

20% on cost

Computer equipment

-

25% on cost

Tangible fixed assets are initially measured at cost. Subsequently, they are measured at cost less accumulated depreciation and impairment losses.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.

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 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.

Going concern

The financial statements have been prepared on a going concern basis.

The company has reported a profit for the year but now has a deficit in shareholders funds of £5,547 (2021 - £21,419).

The company is expected to continue in profit going forward and therefore the directors believe it appropriate to prepare the accounts on a going concern basis.

The directors withdrew dividends during the current accounting period when there were insufficient reserves resulting in illegal dividends. The directors acknowledge that illegal dividends have arisen and have made plans to make good this situation. During the year the directors have stopped taking dividends and no further dividend distribution will be made until sufficient reserves are available.

Government grants

The company has applied the accruals model when accounting for government grants which are received by the company relating to income, expenses or assets.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2022

and 31 December 2022

3,978

608

4,586

DEPRECIATION

At 1 January 2022

1,892

329

2,221

Charge for year

796

152

948

At 31 December 2022

2,688

481

3,169

NET BOOK VALUE

At 31 December 2022

1,290

127

1,417

At 31 December 2021

2,086

279

2,365

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/22

31/12/21

£

£

Trade debtors

47,494

59,397

Other debtors

50,853

29,686

98,347

89,083

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/22

31/12/21

£

£

Bank loans and overdrafts

9,000

9,000

Trade creditors

30,794

21,555

Taxation and social security

34,285

43,538

Other creditors

18,547

8,223

92,626

82,316

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/22

31/12/21

£

£

Bank loans

21,874

30,752

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31/12/22

31/12/21

£

£

Within one year

11,000

6,417

9.	SECURED DEBTS

The following secured debts are included within creditors:

31/12/22

31/12/21

£

£

Bank loans

30,874

39,752

The bank loan is unsecured, but guaranteed by the UK government under the Bounce Back Loan Scheme.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2022 and 31 December 2021:

31/12/22

31/12/21

£

£

Mr R J Brown

Balance outstanding at start of year

20,190

20,190

Amounts advanced

15,015

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

35,205

20,190