Kingfisher Enamelling Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03167285 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2018

for

Kingfisher Enamelling Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr L R Sharp

Mr R C Hill

SECRETARY:

Mr L R Sharp

REGISTERED OFFICE:

5a Frascati Way

Maidenhead

Berkshire

SL6 4UY

REGISTERED NUMBER:

03167285 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

5a Frascati Way

Maidenhead

Berkshire

SL6 4UY

FIXED ASSETS

Tangible assets

4

149,433

137,857

CURRENT ASSETS

Stocks

16,841

13,094

Debtors

5

364,582

345,427

Cash at bank and in hand

139,618

125,332

521,041

483,853

CREDITORS

Amounts falling due within one year

6

(166,695

)

(186,718

)

NET CURRENT ASSETS

354,346

297,135

TOTAL ASSETS LESS CURRENT LIABILITIES

503,779

434,992

CREDITORS

Amounts falling due after more than one year

7

(24,227

)

(36,849

)

PROVISIONS FOR LIABILITIES

(24,831

)

(10,799

)

NET ASSETS

454,721

387,344

CAPITAL AND RESERVES

Called up share capital

4,000

4,000

Share premium

35,305

35,305

Retained earnings

415,416

348,039

SHAREHOLDERS' FUNDS

454,721

387,344

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 August 2018 and were signed on its behalf by:

Mr L R Sharp - Director

1.	STATUTORY INFORMATION

Kingfisher Enamelling Company 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

In the application of the company's accounting policies the directors are required to make

judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are

not readily apparent from other sources. The estimates and associated assumptions are based on

historical experience and other factors that are considered to be relevant. Actual results may differ

from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to

accounting estimates are recognised in the period in which the estimate is revised if the revision

affects only that period, or in the period of the revision and future periods if the revision affects

both current and future periods.

The company does not make significant estimates and assumptions concerning the future.

Turnover

Turnover represents the value of goods and services under contracts, provided in the period,

exclusive of Value Added Tax, to the extent that there is a right to consideration and is recorded at

the value of consideration due.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance and 5% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stock and work in progress are valued at the lower of cost and net realisable value after making due

allowance for obsolete and slow-moving stocks. Cost includes all direct costs and appropriate

proportion of fixed and variable overheads.

Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method,

except for investments in non-convertible preference and non-puttable preference and ordinary

shares, which are measured at fair value, with changes recognised in profit or loss. Derivative

financial instruments are initially recorded at cost and therefore at fair value, with changes

recognised in profit and loss.

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

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed

assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and

their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful

lives. Finance leases are those where substantially all of the benefits and risks of ownership are

assumed by the company. Obligations under such agreements are included in creditors net of the

finance charge allocated to future periods. The finance element of the rental payment is charged to

the profit and loss account so as to produce a constant periodic rate of charge on the net obligation

outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership

remain with the lessor are charged to the profit and loss account on a straight line basis over the

period of the lease.

Invoice discounting

The company has an invoice discounting facility. The accounting policy is to include trade debtors

within one year and the returnable element of the proceeds within current liabilities. Service

charges and interest are charged to the profit and loss account when paid. Bad debts are borne by

the company and are charged to the profit and loss account when incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2017 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

434,098

Additions

39,587

At 31 March 2018

473,685

DEPRECIATION

At 1 April 2017

296,241

Charge for year

28,011

At 31 March 2018

324,252

NET BOOK VALUE

At 31 March 2018

149,433

At 31 March 2017

137,857

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases

are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2017

86,383

Additions

25,435

At 31 March 2018

111,818

DEPRECIATION

At 1 April 2017

22,333

Charge for year

20,782

At 31 March 2018

43,115

NET BOOK VALUE

At 31 March 2018

68,703

At 31 March 2017

64,050

5.

DEBTORS

31.3.18

31.3.17

£

£

Amounts falling due within one year:

Trade debtors

159,801

172,292

Other debtors

50,925

34,279

210,726

206,571

Amounts falling due after more than one year:

Other debtors

153,856

138,856

Aggregate amounts

364,582

345,427

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Hire purchase contracts and finance leases (see note 8)

30,165

23,750

Trade creditors

59,289

58,240

Taxation and social security

50,929

54,335

Other creditors

26,312

50,393

166,695

186,718

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Hire purchase contracts and finance leases (see note 8)

24,227

36,849

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

Finance leases

31.3.18

31.3.17

31.3.18

31.3.17

£

£

£

£

Net obligations repayable:

Within one year

17,624

14,097

12,541

9,653

Between one and five years

23,836

23,916

391

12,933

41,460

38,013

12,932

22,586

Non-cancellable

operating leases

31.3.18

31.3.17

£

£

Within one year

45,000

45,000

Between one and five years

97,500

142,500

142,500

187,500

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2018

and 31 March 2017:

31.3.18

31.3.17

£

£

Mr R C Hill

Balance outstanding at start of year

1,770

-

Amounts advanced

6,517

1,770

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

8,287

1,770

10.	RELATED PARTY DISCLOSURES

Boxblade Limited

A company in which Mr R C Hill is a shareholder

During the year Kingfisher Enamelling Company Limited incurred management charges from

Boxblade Limited on normal commercial terms totalling £159,169 (2017: £148,548).

As at the period end £420 (2017:£Nil) was owed to Boxblade Limited.

Fusion Forensics Limited

A company in which Mr R C Hill is a shareholder.

As at the period end £153,856 (2017:£135,278) was owed from Fusion Forensics Limited.

Alpha Anodising UK Limited

A company in which Mr R C Hill is a shareholder.

As at the period end £7,770 (2017:£Nil) was owed from Alpha Anodising UK Limited.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr R C Hill by virtue of his 69% share capital.