Geku U.K. Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 03047206 (England and Wales)

Financial Statements For The Year Ended 31st December 2016

for

Geku U.K. Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N A Richardson

J R Hudson

SECRETARY:

J R Hudson

REGISTERED OFFICE:

Unit H2 Knights Park

Knights Road

Strood

Rochester

Kent

ME2 2LS

REGISTERED NUMBER:

03047206 (England and Wales)

ACCOUNTANTS:

Beak Kemmenoe

Chartered Accountants

1-3 Manor Road

Chatham

Kent

ME4 6AE

FIXED ASSETS

Tangible assets

4

490,177

451,946

CURRENT ASSETS

Stocks

113,573

240,721

Debtors

5

448,960

203,259

Cash at bank

360

360

562,893

444,340

CREDITORS

Amounts falling due within one year

6

451,601

331,501

NET CURRENT ASSETS

111,292

112,839

TOTAL ASSETS LESS CURRENT LIABILITIES

601,469

564,785

CREDITORS

Amounts falling due after more than one year

7

330,783

353,296

NET ASSETS

270,686

211,489

CAPITAL AND RESERVES

Called up share capital

6

6

Retained earnings

270,680

211,483

SHAREHOLDERS' FUNDS

270,686

211,489

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 25th September 2017 and were signed on its behalf by:

J R Hudson - Director

1.	STATUTORY INFORMATION

Geku U.K. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is the total amount receivable by the company for goods supplied and services provided excluding

VAT and trade discounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance and 10% on reducing balance

Motor vehicles

-

at varying rates on cost

Furniture and equipment

-

at varying rates on cost

Stocks

Stocks 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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 .

4.	TANGIBLE FIXED ASSETS

Furniture

Long

Plant and

Motor

and

leasehold

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st January 2016

353,115

123,418

35,020

50,213

561,766

Additions

-

67,000

-

5,817

72,817

At 31st December 2016

353,115

190,418

35,020

56,030

634,583

DEPRECIATION

At 1st January 2016

-

50,765

24,344

34,711

109,820

Charge for year

-

26,588

2,668

5,330

34,586

At 31st December 2016

-

77,353

27,012

40,041

144,406

NET BOOK VALUE

At 31st December 2016

353,115

113,065

8,008

15,989

490,177

At 31st December 2015

353,115

72,653

10,676

15,502

451,946

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1st January 2016

37,950

13,225

51,175

Additions

67,000

-

67,000

At 31st December 2016

104,950

13,225

118,175

DEPRECIATION

At 1st January 2016

23,108

6,599

29,707

Charge for year

11,933

1,656

13,589

At 31st December 2016

35,041

8,255

43,296

NET BOOK VALUE

At 31st December 2016

69,909

4,970

74,879

At 31st December 2015

14,842

6,626

21,468

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

253,526

62,500

Other debtors & prepayments

195,434

140,759

448,960

203,259

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

139,386

183,286

Hire purchase contracts

9,909

9,861

Trade creditors

242,241

74,092

Taxation and social security

32,296

41,425

Other creditors & accruals

27,769

22,837

451,601

331,501

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Bank loans

296,574

346,109

Hire purchase contracts

34,209

7,187

330,783

353,296

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

112,018

87,657

8.	SECURED DEBTS

The following secured debts are included within creditors:

2016

2015

£

£

Bank overdrafts

89,851

134,255

Bank loans

346,109

395,140

Hire purchase contracts

44,118

17,048

480,078

546,443

Bank loans and overdrafts are secured by a fixed and floating charge on the property, book debts and a debenture

over all other assets.

A loan from The Kent County Council is secured by a fixed charge on the property.

Obligations under hire purchase and finance lease contracts are secured on the assets concerned.