Kestakon Limited - Accounts to registrar (filleted) - small 17.3
Kestakon Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| Kestakon Limited |
| Unaudited Financial Statements for the Year Ended 30 April 2017 |
| Kestakon Limited (Registered number: 09527760) |
| Contents of the Financial Statements |
| for the Year Ended 30 April 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Kestakon Limited |
| Company Information |
| for the Year Ended 30 April 2017 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| Kestakon Limited (Registered number: 09527760) |
| Balance Sheet |
| 30 April 2017 |
| 30.4.17 | 30.4.16 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Stocks | 4 |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| The director acknowledges his 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| Kestakon Limited (Registered number: 09527760) |
| Notes to the Financial Statements |
| for the Year Ended 30 April 2017 |
| 1. | STATUTORY INFORMATION |
| Kestakon Limited is a |
| registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies |
| and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and |
| Republic of Ireland ("FRS 102") and the Companies Act 2006. The presentational and functional currency of these financial statements is |
| sterling. All amounts in the financial statements have been rounded to the nearest £1. |
| These financial statements for the year ended 30 April 2017 are the first financial statements of Kestakon Limited prepared in accordance |
| with FRS 102. The date of transition to FRS 102 was 07 April 2015. In the transition to FRS 102 from the Financial Reporting Standard for |
| Smaller Entities (effective January 2015) the company has made no measurement and recognition adjustments. |
| Going concern |
| The company's financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or |
| support will be more than adequate for the company's needs. In assessing going concern, the Director has a reasonable expectation that the |
| company will continue as a going concern and is able to meet all of its obligations as they fall due for a minimum of 12 months from the date |
| of approval of these financial statements |
| Significant judgements and estimates |
| The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires |
| management to exercise judgement in applying the company's accounting policies. The director is of the opinion that due to the nature of the |
| business, there are no critical accounting estimates or judgements used in the preparation of these financial statements. |
| Turnover |
| Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably |
| measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax |
| and other sales taxes. |
| Revenue from the sale of goods is recognised when the significant risks and rewards of the ownership of the goods have passed to the buyer, |
| usually on dispatch of the goods and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the weighted average |
| principle and includes expenditure incurred in acquiring the stocks, production or conversion costs and other costs in bringing them to their |
| existing location and condition. |
| At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less |
| costs to complete and sell. The impairment loss is recognised immediately within profit or loss. |
| Basic financial instruments |
| Trade and other debtors / creditors |
| Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are |
| recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised |
| cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing |
| transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments |
| discounted at a market rate of interest for a similar debt instrument. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of |
| impairment. If objective evidence of impairment is found an impairment loss is recognised within profit or loss. |
| For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying |
| amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. |
| For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount |
| and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date. |
| Kestakon Limited (Registered number: 09527760) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Current and deferred taxation |
| Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in profit or loss except to the extent that it relates |
| to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other |
| comprehensive income. |
| Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively |
| enacted at the balance sheet date. |
| Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different |
| from those in which they are recognised in the financial statements. Deferred tax is not recognised on permanent differences arising because |
| certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or |
| smaller than the corresponding income or expense. |
| Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or |
| substantively enacted at the balance sheet date. |
| 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. |
| Foreign currencies |
| Transactions in foreign currencies are translated to the company's functional currency at the foreign exchange rate ruling at the date of the |
| transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are retranslated to the functional |
| currency at the foreign exchange rate ruling at that date. Foreign exchange differences arising on translation are recognised in profit or loss. |
| 3. | STAFF NUMBERS |
| The average number of employees during the year was |
| 4. | STOCKS |
| 30.4.17 | 30.4.16 |
| £ | £ |
| Finished goods |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.4.17 | 30.4.16 |
| £ | £ |
| Trade debtors |
| Directors' current accounts | 3,785 | - |
| Tax |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.4.17 | 30.4.16 |
| £ | £ |
| Tax |
| Social security and other taxes |
| Other creditors |
| 7. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the year ended 30 April 2017 and the period ended 30 April 2016: |
| 30.4.17 | 30.4.16 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |