Emmerson Kitney Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 06993883 (England and Wales)

Emmerson Kitney Limited

Unaudited Financial Statements for the Year Ended 31st December 2016

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D R Kitney

Mrs K L Van der Sluis

REGISTERED OFFICE:

The Old Foundry

Cowgate

Welton

East Yorkshire

HU15 1NB

REGISTERED NUMBER:

06993883 (England and Wales)

ACCOUNTANTS:

Smailes Goldie

Chartered Accountants

Regent's Court

Princess Street

Hull

East Yorkshire HU2 8BA

FIXED ASSETS

Tangible assets

4

12,881

10,468

Investments

5

100

100

12,981

10,568

CURRENT ASSETS

Debtors

6

88,846

79,206

Cash at bank and in hand

126,862

155,571

215,708

234,777

CREDITORS

Amounts falling due within one year

7

61,322

91,560

NET CURRENT ASSETS

154,386

143,217

TOTAL ASSETS LESS CURRENT LIABILITIES

167,367

153,785

PROVISIONS FOR LIABILITIES

2,576

2,094

NET ASSETS

164,791

151,691

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

164,691

151,591

SHAREHOLDERS' FUNDS

164,791

151,691

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 28th September 2017 and were signed on its behalf by:

D R Kitney - Director

1.	STATUTORY INFORMATION

Emmerson Kitney 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 significant accounting policies applied in the preparation of these financial statements are set out

below. These policies have been consistently applied to all years presented unless otherwise stated.

The company adopted FRS 102 in the current year and an explanation of how transition to FRS 102

has affected the reported financial position and performance is given in the notes.

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.

Preparation of consolidated financial statements

The financial statements contain information about Emmerson Kitney Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company

has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated

financial statements.

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

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated

impairment losses. Cost includes costs directly attributable to making the asset capable of operating

as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less

estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery

- 33% on cost

Fixtures and fittings

- 15% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less impairment.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss)

for the current or past reporting periods. It is measured at the amount expected to be paid or

recovered using the tax rates and laws that have been enacted or substantively enacted by the

balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the

financial statements of current and previous periods. It is recognised in respect of all timing

differences, with certain exceptions. Timing differences are differences between taxable profits and

total comprehensive income as stated in the financial statements that arise from the inclusion of

income and expense in tax assessments in periods different from those in which they are recognised

in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured

using the rates and allowances that apply to the sale of the asset.

Hire purchase and leasing commitments

Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease

term and the expected useful life of the asset. Minimum lease payments are apportioned between the

finance charge and the reduction of the outstanding lease liability using the effective interest method.

The related obligations, net of future finance charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a

straight line basis over the period of the lease.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the

employees are entitled are recognised at the undiscounted amount expected to be paid in exchange

for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are

expensed as they become payable.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are

recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss

account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2016

25,154

Additions

7,692

At 31st December 2016

32,846

DEPRECIATION

At 1st January 2016

14,686

Charge for year

5,279

At 31st December 2016

19,965

NET BOOK VALUE

At 31st December 2016

12,881

At 31st December 2015

10,468

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st January 2016

and 31st December 2016

100

NET BOOK VALUE

At 31st December 2016

100

At 31st December 2015

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

59,670

34,878

Amounts owed by group undertakings

-

3,839

Other debtors

29,176

40,489

88,846

79,206

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

10,728

21,736

Amounts owed to group undertakings

3,557

-

Taxation and social security

33,763

50,122

Other creditors

13,274

19,702

61,322

91,560

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary shares

£1

100

100

9.	OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance

sheet amount to £5,000 (2015 - £14,000)

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £6,000 were paid to the directors .

Included in other creditors are amounts due to the directors of £4,719 (2015 £2,005 other debtors).

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by D. R. Kitney by virtue of his 100% shareholding.

12.	FIRST YEAR ADOPTION

The company has adopted FRS 102 1A for the first time during the year ended 31st December 2016

and consequently the transition date is 1st January 2015.

The effect of transition from the previous financial reporting framework to FRS 102 1A is outlined

below.

a)

There were no consequential changes in accounting policies as a result of the transition.

b)

There were no adjustments to previously reported equity shareholders' funds at the date of transition.

c)

There were no adjustments to previously reported profit or loss in the comparative period.