KB Associates (Europe) Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07475102 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

FOR

KB ASSOCIATES (EUROPE) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Brunton

B P Kearns

REGISTERED OFFICE:

C/O Barringtons

Charles House

Beam Heath Way

Nantwich

Cheshire

CW5 6PQ

REGISTERED NUMBER:

07475102 (England and Wales)

ACCOUNTANTS:

Barringtons Limited

41 Cheshire Street

Market Drayton

Shropshire

TF9 1PH

FIXED ASSETS

Tangible assets

4

539,711

557,288

CURRENT ASSETS

Stocks

8,184

2,525

Debtors

5

244,871

158,433

Cash at bank and in hand

109,014

177,268

362,069

338,226

CREDITORS

Amounts falling due within one year

6

411,532

422,318

NET CURRENT LIABILITIES

(49,463

)

(84,092

)

TOTAL ASSETS LESS CURRENT LIABILITIES

490,248

473,196

CREDITORS

Amounts falling due after more than one year

7

(157,991

)

(160,815

)

PROVISIONS FOR LIABILITIES

(2,727

)

(4,090

)

NET ASSETS

329,530

308,291

CAPITAL AND RESERVES

Called up share capital

250,100

250,100

Retained earnings

79,430

58,191

SHAREHOLDERS' FUNDS

329,530

308,291

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 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 29 March 2018 and were signed on its behalf by:

B P Kearns - Director

1.	STATUTORY INFORMATION

KB Associates (Europe) 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 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 each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on cost

Computer equipment

-

33% on cost

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 July 2016

and 30 June 2017

573,971

8,689

14,251

DEPRECIATION

At 1 July 2016

37,135

3,284

6,215

Charge for year

11,480

1,229

2,138

At 30 June 2017

48,615

4,513

8,353

NET BOOK VALUE

At 30 June 2017

525,356

4,176

5,898

At 30 June 2016

536,836

5,405

8,036

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 July 2016

and 30 June 2017

7,995

4,956

609,862

DEPRECIATION

At 1 July 2016

1,832

4,108

52,574

Charge for year

1,999

731

17,577

At 30 June 2017

3,831

4,839

70,151

NET BOOK VALUE

At 30 June 2017

4,164

117

539,711

At 30 June 2016

6,163

848

557,288

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

191,447

137,990

Other debtors

53,424

20,443

244,871

158,433

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

2,824

2,824

Trade creditors

132,264

124,175

Taxation and social security

20,447

25,897

Other creditors

255,997

269,422

411,532

422,318

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

235

3,059

Other creditors

157,756

157,756

157,991

160,815

8.	FIRST YEAR ADOPTION

Due to the first year adoption of FRS102 the long term intercompany loan balance of £177,899 (2016 £187,204)

has been transferred to current liabilities. The directors acknowledge that this is strictly due on demand, but

payment will be made on a adhoc basis based on cashflow.