KS Plant and Marine Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08394144 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2018

FOR

KS PLANT AND MARINE LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

Chartered Accountants' Report

7

DIRECTOR:

K A Side

SECRETARY:

L Side

REGISTERED OFFICE:

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

REGISTERED NUMBER:

08394144 (England and Wales)

ACCOUNTANTS:

The Paris Partnership LLP

Chartered Accountants

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

FIXED ASSETS

Tangible assets

4

25,510

33,763

CURRENT ASSETS

Stocks

99,164

90,491

Debtors

5

19,542

5,375

Cash at bank

20,877

41,489

139,583

137,355

CREDITORS

Amounts falling due within one year

6

(131,873

)

(137,968

)

NET CURRENT ASSETS/(LIABILITIES)

7,710

(613

)

TOTAL ASSETS LESS CURRENT LIABILITIES

33,220

33,150

CREDITORS

Amounts falling due after more than one year

7

-

(2,314

)

NET ASSETS

33,220

30,836

CAPITAL AND RESERVES

Called up share capital

8

300

300

Retained earnings

9

32,920

30,536

SHAREHOLDERS' FUNDS

33,220

30,836

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 in accordance with Section 476 of the Companies Act 2006.

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.

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 director on 1 November 2018 and were signed by:

K A Side - Director

1.	STATUTORY INFORMATION

KS Plant and Marine Ltd 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost and 25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Debtors and creditors receivable/ payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year and recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

Interest payable

Interest payable is charged to the profit and loss account on an accruals basis.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured

at transaction price including transaction and where material are subsequently measured at amortised cost using

the effective interest method, less any impairment.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and loans from company undertakings that are

classified as debt are initially measured at transaction price unless the arrangement constitutes a financing

transaction, where the debt instrument is measured at the present value of the future payments discounted at

the market rate of interest .

Trade creditors are obligations to pay for goods or services that have been acquired that have been acquired in

the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if a

payment is due within one year or less. If not, they are present as non current liabilities. Short term creditors are

initially recognised at transaction price and where material are subsequently measured at amortised cost using

the effective interest method

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid

investments with original maturities of three months or less

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2017

77,118

Additions

291

At 28 February 2018

77,409

DEPRECIATION

At 1 March 2017

43,355

Charge for year

8,544

At 28 February 2018

51,899

NET BOOK VALUE

At 28 February 2018

25,510

At 28 February 2017

33,763

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 March 2017

and 28 February 2018

29,543

DEPRECIATION

At 1 March 2017

and 28 February 2018

7,386

NET BOOK VALUE

At 28 February 2018

22,157

At 28 February 2017

22,157

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

17,700

-

Other debtors

1,842

5,375

19,542

5,375

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

3,391

Hire purchase contracts

2,314

5,324

Trade creditors

924

2,757

Taxation and social security

9,666

6,177

Other creditors

118,969

120,319

131,873

137,968

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

-

2,314

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

250

Ordinary A

£1

250

250

50

Ordinary B

£1

50

50

300

300

9.

RESERVES

Retained

earnings

£

At 1 March 2017

30,536

Profit for the year

32,384

Dividends

(30,000

)

At 28 February 2018

32,920

10.	RELATED PARTY DISCLOSURES

K A Side

Director

2018

2017

£

£

Amount due to related party at the balance sheet date

116,800

118,179

11.	ULTIMATE CONTROLLING PARTY

The controlling party is K A Side.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of KS Plant and Marine Ltd for the year ended 28 February 2018 which comprise the Income

Statement, Statement of Financial Position and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of KS Plant and Marine Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of KS Plant and Marine Ltd and state those matters that we have agreed to state to the director of KS Plant and Marine Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KS Plant and Marine Ltd and its director for our work or for this report.

It is your duty to ensure that KS Plant and Marine Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of KS Plant and Marine Ltd. You consider that KS Plant and Marine 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 financial statements of KS Plant and Marine 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 financial statements.

The Paris Partnership LLP

Chartered Accountants

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

1 November 2018