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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2019 |
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KIRKBY LINDSEY ELECTRICAL ENGINEERING |
LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2019 |
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FOR |
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KIRKBY LINDSEY ELECTRICAL ENGINEERING |
LIMITED |
KIRKBY LINDSEY ELECTRICAL ENGINEERING |
LIMITED (REGISTERED NUMBER: 02092078) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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KIRKBY LINDSEY ELECTRICAL ENGINEERING |
LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31 March 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
The Counting House |
Nelson Street |
Hull |
East Yorkshire |
HU1 1XE |
KIRKBY LINDSEY ELECTRICAL ENGINEERING |
LIMITED (REGISTERED NUMBER: 02092078) |
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BALANCE SHEET |
31 March 2019 |
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31.3.19 | 31.3.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 9 |
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Capital redemption reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
KIRKBY LINDSEY ELECTRICAL ENGINEERING |
LIMITED (REGISTERED NUMBER: 02092078) |
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BALANCE SHEET - continued |
31 March 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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KIRKBY LINDSEY ELECTRICAL ENGINEERING |
LIMITED (REGISTERED NUMBER: 02092078) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2019 |
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1. | STATUTORY INFORMATION |
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Kirkby Lindsey Electrical Engineering Limited is a
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and Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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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 Companies Act 2006. There were no material departures from that standard. The financial |
statements have been prepared under the historical cost convention as modified by the revaluation of certain |
assets. |
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Preparation of consolidated financial statements |
The financial statements contain information about Kirkby Lindsey Electrical Engineering Limited as an |
individual company and do not contain consolidated financial information as the parent of a group. The company |
is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated |
financial statements. |
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Turnover |
Turnover arises from the sale of goods and the provision of services. Turnover is measured at the fair value of |
the consideration received or receivable and represents amounts for the sale of goods and/or the rendering of |
services in the normal course of business, net of discounts and other sales-related taxes. |
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Turnover from the sale of goods is recognised when the company has transferred to the buyer the significant |
risks and rewards of ownership of the goods, which is when the goods are delivered to the customer. |
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Turnover from the provision of services is recognised when the service is performed. |
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Tangible fixed assets |
Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is |
provided at the following annual rates calculated to write off the cost, less estimated residual value, of each asset |
over its expected useful life. |
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Plant and machinery etc - 33% on cost, 25% reducing balance, 20% on cost, 15% on cost and 4% on cost |
Land and buildings - The term of the primary lease |
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Residual value represents the estimated amount which would currently be obtained from disposal of an asset, |
after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at |
the end of its useful life. |
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Impairment of assets |
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets |
have suffered a impairment loss. If there is an indication of possible impairment, the recoverable amount of any |
affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the |
carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised |
immediately in profit or loss. |
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If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate |
of its recoverable amount, but not in excess of the amount that would have been determined had no impairment |
loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in |
profit or loss. |
KIRKBY LINDSEY ELECTRICAL ENGINEERING |
LIMITED (REGISTERED NUMBER: 02092078) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Stocks |
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net |
realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow |
moving, obsolete or damaged stock where the net realisable value is less than cost. |
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Work-in-progress includes costs for materials and labour to date on any given contract yet to be completed or |
invoiced for work to date, together with an appropriate proportion of fixed and variable overheads are also |
included. |
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Financial instruments |
Basic financial instruments are recognised at amortised cost, with changes recognised in profit or loss. Derivative |
financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or |
loss. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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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. |
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The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charges to the profit and loss account on a straight line basis over the |
period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to the profit and loss account in the period to which they relate. |
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Investments |
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. |
Investments held as current assets are stated at the lower of cost and net realisable value. |
KIRKBY LINDSEY ELECTRICAL ENGINEERING |
LIMITED (REGISTERED NUMBER: 02092078) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2019 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 April 2018 |
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Additions |
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Disposals |
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( |
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At 31 March 2019 |
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DEPRECIATION |
At 1 April 2018 |
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Charge for year |
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Eliminated on disposal |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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Cost or valuation at 31 March 2019 is represented by: |
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Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
2011 |
Cost | 71,985 | 148,211 | 220,196 |
155,000 | 148,211 | 303,211 |
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If leasehold buildings and plant had not been revalued they would have been included at the following historical |
cost: |
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31.3.19 | 31.3.18 |
£ | £ |
Cost | 115,333 | 115,333 |
Aggregate depreciation | 67,772 | 66,910 |
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Leasehold buildings were valued on an open market basis on 31 March 2019 by the directors . |
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KIRKBY LINDSEY ELECTRICAL ENGINEERING |
LIMITED (REGISTERED NUMBER: 02092078) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2019 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2018 |
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Disposals | ( |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Trade debtors |
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Amounts recoverable on contract |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.3.19 | 31.3.18 |
£ | £ |
Bank overdrafts |
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Hire purchase contracts | - | 2,625 |
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Hire purchase liabilities are secured on the related assets financed. |
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The bank overdraft is secured by a fixed and floating charge over all assets. |
KIRKBY LINDSEY ELECTRICAL ENGINEERING |
LIMITED (REGISTERED NUMBER: 02092078) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2019 |
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9. | RESERVES |
Revaluation |
reserve |
£ |
At 1 April 2018 |
and 31 March 2019 |
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10. | CONTINGENT LIABILITIES |
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Kirkby Lindsey Electrical Engineering Limited has provided a guarantee to Yorkshire Bank for all monies owing |
to the bank by Eclipse Electrical Engineering Limited £Nil (2018: £42,878). |
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11. | OTHER FINANCIAL COMMITMENTS |
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As at 31 March 2019, the company had total commitments under non-cancellable operating leases over the |
remaining life of those lease of £8,232 (2018 : £4,763). |
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12. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
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During the year, total dividends of £19,000 (2018 - £19,500) were paid to the directors . |
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At the year end, the company owed the directors £22,903 (2018 : £15,254) in respect of a current account |
balance. Loans made to the company by the directors are unsecured, interest free and repayable on demand. |