KATA Crushing and Recycling Finance Limited - Period Ending 2015-12-31

Registration number: 06771840

KATA Crushing and Recycling Finance Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
S1 1WR

KATA Crushing and Recycling Finance Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
KATA Crushing and Recycling Finance Limited
for the Year Ended 31 December 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of KATA Crushing and Recycling Finance Limited for the year ended 31 December 2015 set out on pages Pages 4 to 11 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 at icaew.com/membershandbook.

This report is made solely to the Board of Directors of KATA Crushing and Recycling Finance Limited, as a body, in accordance with the terms of our engagement letter . Our work has been undertaken solely to prepare for your approval the accounts of KATA Crushing and Recycling Finance Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. 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 accounts that give a true and fair view of the assets, liabilities, financial position and loss 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 accounts 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 accounts.

......................................

Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
S1 1WR

17 March 2017

Page 1

KATA Crushing and Recycling Finance Limited
(Registration number: 06771840)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			-			267
Current assets
Debtors					51,513			138,724
Cash at bank and in hand					27,429			16,553
					78,942			155,277
Creditors: Amounts falling due within one year					(67,536)			(100,996)
Net current assets					11,406			54,281
Total assets less current liabilities					11,406			54,548
Provisions for liabilities					-			(53)
Net assets					11,406			54,495
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					11,306			54,395
Shareholders' funds					11,406			54,495

For the year ending 31 December 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

KATA Crushing and Recycling Finance Limited
(Registration number: 06771840)
Abbreviated Balance Sheet at 31 December 2015
......... continued

Approved by the Board on 16 March 2017 and signed on its behalf by:

.........................................
Miss T Wilson
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

KATA Crushing and Recycling Finance Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The accounts have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of screen and crushing machinery and the provision of financial lease arrangement services to customers. Revenue is recognised on the transfer of significant risks and rewards of ownership to the buyer/ when the service has been provided.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	25% straight line basis

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Amounts due under finance leases are included as a debtor at the amount of the net investment in the lease. Lease payments receivable are apportioned between repayments of capital and interest so as to give a constant periodic rate of return on the net cash investment in the lease.

Page 4

KATA Crushing and Recycling Finance Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2015		1,981			1,981
At 31 December 2015		1,981			1,981
Depreciation
At 1 January 2015		1,714			1,714
Charge for the year		267			267
At 31 December 2015		1,981			1,981
Net book value
At 31 December 2015		-			-
At 31 December 2014		267			267

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 5