West Kent Construction Services Ltd - Period Ending 2014-03-31

Registration number: 7179635

West Kent Construction Services Ltd

trading as WKCS

Directors' Report and Unaudited Financial Statements

for the Year Ended 31 March 2014
 

AIMS Accountants for Business
Accountants and Business Advisors
14 BEAGLES WOOD ROAD
PEMBURY
TUNBRIDGE WELLS
Kent
TN2 4HX

West Kent Construction Services Ltd
trading as WKCS
Contents

Company Information 1

Directors' Report 2

Accountants' Report 3

Profit and Loss Account 4

Balance Sheet 5

Notes to the Financial Statements 6 to 9

The following pages do not form part of the statutory financial statements:

Detailed Profit and Loss Account 10 to 12

West Kent Construction Services Ltd
trading as WKCS
Company Information

Directors

Mr Pete Williams Mr Jason Mennie

Registered office

Park House Park Farm Ditton Aylesford Kent ME20 6SN

Bankers

Santander Tunbridge Wells 17-19 Grosvenor Road Tunbridge Wells Kent TN1 2YW

Accountants

AIMS Accountants for Business Accountants and Business Advisors 14 BEAGLES WOOD ROAD PEMBURY TUNBRIDGE WELLS Kent TN2 4HX

Page 1

West Kent Construction Services Ltd
trading as WKCS
Directors' Report for the Year Ended 31 March 2014

The directors present their report and the unaudited financial statements for the year ended 31 March 2014.

Directors of the company

The directors who held office during the year were as follows:

Mr Pete Williams

Mr Jason Mennie

Principal activity

The principal activity of the company is Construction.

Small company provisions

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved by the Board on 19 December 2014 and signed on its behalf by:

.........................................
Mr Pete Williams
Director

Page 2

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
West Kent Construction Services Ltd
trading as WKCS
for the Year Ended 31 March 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of West Kent Construction Services Ltd for the year ended 31 March 2014 set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Independent Certified Practising Accountants (ICPA) and the Association of Accounting Technicians (AAT), we are subject to their ethical and other professional requirements which are detailed at icpa.org.uk and aat.org.uk.

This report is made solely to the Board of Directors of West Kent Construction Services Ltd, as a body, in accordance with the terms of our engagement letter dated 16 January 2013. Our work has been undertaken solely to prepare for your approval the accounts of West Kent Construction Services Ltd and state those matters that we have agreed to state to them, as a body, in this report . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than West Kent Construction Services Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that West Kent Construction Services Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of West Kent Construction Services Ltd. You consider that West Kent Construction Services Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of West Kent Construction Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

AIMS Accountants for Business
Accountants and Business Advisors
14 BEAGLES WOOD ROAD
PEMBURY
TUNBRIDGE WELLS
Kent
TN2 4HX

19 December 2014

Page 3

West Kent Construction Services Ltd
trading as WKCS
Profit and Loss Account for the Year Ended 31 March 2014

		Note			2014 £			2013 £
Turnover					18,782			42,333
Cost of sales					(17,735)			(26,434)
Gross profit					1,047			15,899
Administrative expenses					(6,930)			(10,710)
Operating (loss)/profit		2			(5,883)			5,189
Other interest receivable and similar income					5			5
(Loss)/profit on ordinary activities before taxation					(5,878)			5,194
(Loss)/profit for the financial year		7			(5,878)			5,194

The notes on pages 6 to 9 form an integral part of these financial statements.
Page 4

West Kent Construction Services Ltd
trading as WKCS
(Registration number: 7179635)
Balance Sheet at 31 March 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets		3			-			2,830
Tangible fixed assets		4			-			5,724
					-			8,554
Current assets
Cash at bank and in hand					-			15,061
Creditors: Amounts falling due within one year		5			(584)			(18,321)
Net current liabilities					(584)			(3,260)
Net (liabilities)/assets					(584)			5,294
Capital and reserves
Called up share capital		6			100			100
Profit and loss account		7			(684)			5,194
Shareholders' (deficit)/funds					(584)			5,294

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

For the year ending 31 March 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved by the Board on 19 December 2014 and signed on its behalf by:

.........................................
Mr Pete Williams
Director

The notes on pages 6 to 9 form an integral part of these financial statements.
Page 5

West Kent Construction Services Ltd
trading as WKCS
Notes to the Financial Statements for the Year Ended 31 March 2014
......... continued

1	Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Going concern

The company ceased trading on 31/3/14

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Negative goodwill is included within fixed assets and released to the profit and loss account in the periods in which the fair values of the non-monetary assets purchased on the same acquisition are recovered, whether through sale or depreciation.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	10% Straight line basis

Depreciation

All the assets have been sold/disposed of by the company

Asset class	Depreciation method and rate
Plant & Machinery	20% straight line basis

2	Operating (loss)/profit

Operating (loss)/profit is stated after charging:

		2014 £			2013 £
(Profit)/loss on sale of tangible fixed assets		(725)			2,266
Depreciation of tangible fixed assets		-			1,431
Amortisation		2,830			315

Page 6

West Kent Construction Services Ltd
trading as WKCS
Notes to the Financial Statements for the Year Ended 31 March 2014
......... continued

3	Intangible fixed assets

		Goodwill £			Total £
Cost
At 1 April 2013		3,145			3,145
Disposals		(3,145)			(3,145)
At 31 March 2014		-			-
Amortisation
At 1 April 2013		315			315
Eliminated on disposals		(315)			(315)
At 31 March 2014		-			-
Net book value
At 31 March 2014		-			-
At 31 March 2013		2,830			2,830

4	Tangible fixed assets

		Plant and machinery £			Total £
Cost or valuation
At 1 April 2013		7,155			7,155
Disposals		(7,155)			(7,155)
At 31 March 2014		-			-
Depreciation
At 1 April 2013		1,431			1,431
Eliminated on disposals		(1,431)			(1,431)
At 31 March 2014		-			-
Net book value
At 31 March 2014		-			-
At 31 March 2013		5,724			5,724

Page 7

West Kent Construction Services Ltd
trading as WKCS
Notes to the Financial Statements for the Year Ended 31 March 2014
......... continued

5	Creditors: Amounts falling due within one year

		2014 £			2013 £
Trade creditors		-			(75)
Other taxes and social security		-			6,865
Other creditors		584			11,531
		584			18,321

6	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		50			50			50			50
Ordinary A of £1 each		50			50			50			50
		100			100			100			100

7

Reserves

		Profit and loss account £			Total £
At 1 April 2013		5,194			5,194
Loss for the year		(5,878)			(5,878)
At 31 March 2014		(684)			(684)

Page 8

West Kent Construction Services Ltd
trading as WKCS
Notes to the Financial Statements for the Year Ended 31 March 2014
......... continued

8	Related party transactions

Directors' advances and credits

	2014 Advance/ Credit £	2014 Repaid £	2013 Advance/ Credit £	2013 Repaid £
Mr Pete Williams
Directors current account	(292)	5,206	(5,500)	-
Mr Jason Mennie
Directors current account	(291)	5,209	(5,500)	-

9

Control

The company is controlled by directors, by virtue of the fact that they own 90% of the shares in the controlling parent company.

Page 9

West Kent Construction Services Ltd
trading as WKCS
Detailed Profit and Loss Account for the Year Ended 31 March 2014

		2014						2013
	£			£			£			£
Turnover (analysed below)					18,782						42,333
Cost of sales (analysed below)					(17,735)						(26,434)
Gross profit					1,047						15,899
Gross profit (%)					5.57%						37.56%
Administrative expenses
Employment costs (analysed below)		-						(5,223)
General administrative expenses (analysed below)		(4,773)						(1,467)
Finance charges (analysed below)		(52)						(8)
Depreciation costs (analysed below)		(2,105)						(4,012)
					(6,930)						(10,710)
Other interest receivable and similar income (analysed below)					5						5
(Loss)/profit on ordinary activities before taxation					(5,878)						5,194

This page does not form part of the statutory financial statements
Page 10

West Kent Construction Services Ltd
trading as WKCS
Detailed Profit and Loss Account for the Year Ended 31 March 2014

2014 £

2013 £

Turnover
Sales, UK		18,782			42,333
		18,782			42,333

Cost of sales
Purchases		8,081			26,434
Subcontract cost		9,654			-
		17,735			26,434

Employment costs
Subcontract cost		-			5,223

General administrative expenses
Telephone and fax		1,134			457
Printing, postage and stationery		-			14
Management charges payable		550			-
Equipment Expensed		-			29
Accountancy fees		2,208			719
Legal and professional fees		-			77
Motor expenses		(71)			-
Parking charges		-			171
Advertising		40			-
Bad debts written off		912			-
		4,773			1,467

Finance charges
Bank charges		52			8

Depreciation costs
Depreciation of plant and machinery		-			1,431
(Profit)/loss on disposal of tangible fixed assets		(725)			2,266
Amortisation of goodwill		2,830			315
		2,105			4,012

This page does not form part of the statutory financial statements
Page 11

West Kent Construction Services Ltd
trading as WKCS
Detailed Profit and Loss Account for the Year Ended 31 March 2014......... continued

2014 £

2013 £

Other interest receivable and similar income
Bank interest receivable		4			-
Other interest receivable		1			5
		5			5

This page does not form part of the statutory financial statements
Page 12