Kitto Joinery Limited Filleted accounts for Companies House (small and micro)

KITTO JOINERY LIMITED - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2017-07-01 Sage Accounts Production Advanced 2018 - FRS xbrli:pure xbrli:shares iso4217:GBP 1493202 2017-07-01 2018-06-30 1493202 2018-06-30 1493202 2016-07-01 2017-06-30 1493202 2017-06-30 1493202 bus:Director1 2017-07-01 2018-06-30 1493202 core:WithinOneYear 2018-06-30 1493202 core:WithinOneYear 2017-06-30 1493202 core:ShareCapital 2018-06-30 1493202 core:ShareCapital 2017-06-30 1493202 core:RetainedEarningsAccumulatedLosses 2017-06-30 1493202 bus:SmallEntities 2017-07-01 2018-06-30 1493202 bus:AuditExemptWithAccountantsReport 2017-07-01 2018-06-30 1493202 bus:FullAccounts 2017-07-01 2018-06-30 1493202 bus:SmallCompaniesRegimeForAccounts 2017-07-01 2018-06-30 1493202 bus:PrivateLimitedCompanyLtd 2017-07-01 2018-06-30

COMPANY REGISTRATION NUMBER: 1493202

Kitto Joinery Limited

Filleted Unaudited Financial Statements

30 June 2018

Kitto Joinery Limited

Balance Sheet

30 June 2018

	2018	2017
Note	£	£

Current assets

Stocks		10,288	7,402
Debtors	6	193,867	191,956
Cash at bank and in hand		13,325	10,000
		---------	---------
		217,480	209,358

Creditors: amounts falling due within one year	7	212,480	214,174
		---------	---------
Net current assets/(liabilities)		5,000	( 4,816)
		-------	-------
Total assets less current liabilities		5,000	( 4,816)
		-------	-------
Net assets/(liabilities)		5,000	( 4,816)
		-------	-------

Capital and reserves

Called up share capital	5,000	5,000
Profit and loss account	–	( 9,816)
	-------	-------
Shareholder funds/(deficit)	5,000	( 4,816)
	-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 28 August 2018 , and are signed on behalf of the board by:

B.G.T. Rowe
Director

Company registration number: 1493202

Kitto Joinery Limited

Notes to the Financial Statements

Year ended 30 June 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Colston Mews, 174a Cheltenham Road, Bristol, BS6 5RE.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors have prepared the accounts on the going concern basis as they consider that continuing orders and activity since the balance sheet date combined with support from other group companies will be sufficient to maintain the going concern of the company for the period of at least twelve months from the date of signing these financial statements.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover represents the sales value of goods sold and services provided stated net of value added tax during the year.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.

Stocks

Stocks are stated at the lower of cost and net realisable value. Cost is based on bringing each product to its present location and condition as follows:- Materials - purchase cost on a first-in first-out basis. Finished goods - cost of direct materials and labour plus attributable overheads based on normal level of activity. Net realisable value is the estimated selling price less further costs to be incurred to completion and disposal.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

Defined contribution plans

The company operates a defined contributions scheme and the charge against income is in respect of contributions due in the accounting period.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2017: 5 ).

5. Staff costs

Directors' remuneration

Directors' remuneration has been borne by the parent company in the current financial year and in the previous financial year.

6. Debtors

	2018	2017
	£	£
Trade debtors	87,206	2,638
Amounts owed by group undertakings and undertakings in which the company has a participating interest	103,128	189,285
Other debtors	3,533	33
	---------	---------
	193,867	191,956
	---------	---------

7. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	13,339	6,576
Amounts owed to group undertakings and undertakings in which the company has a participating interest	189,463	197,608
Social security and other taxes	6,379	4,175
Other creditors	3,299	5,815
	---------	---------
	212,480	214,174
	---------	---------

8. Contingencies

The Company has guaranteed the bank borrowings of its fellow group companies. At 30 June 2018 these borrowings amounted to £Nil (2017: £Nil). The liability under this guarantee is secured by an unlimited debenture over the company's assets.

9. Controlling party

The parent company (and ultimate holding company) is Kitto Group plc. Kitto Group plc is controlled by B.G.T. Rowe , a director.