Company Registration No. 08165140 (England and Wales)
KOCKS ARDELT KRANBAU LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
PAGES FOR FILING WITH REGISTRAR
KOCKS ARDELT KRANBAU LIMITED
COMPANY INFORMATION
Directors
Mr M A Reardon
Mr B Flaskamp
Company number
08165140
Registered office
The Grange Broadstone Estate
Enstone
Chipping Norton
Oxfordshire
United Kingdom
OX7 5QL
Auditor
Ellacotts Audit Services Limited
Countrywide House
23 West Bar
Banbury
Oxfordshire
England
OX16 9SA
KOCKS ARDELT KRANBAU LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
KOCKS ARDELT KRANBAU LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2020
31 December 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
534
575
Current assets
Debtors
4
14,609
29,386
Cash at bank and in hand
47,638
30,404
62,247
59,790
Creditors: amounts falling due within one year
5
(15,096)
(16,721)
Net current assets
47,151
43,069
Total assets less current liabilities
47,685
43,644
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
47,585
43,544
Total equity
47,685
43,644
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime
of the Companies Act 2006.
The financial statements were approved by the board of directors and authorised for issue on 5 February 2021 and are signed on its behalf by:
Mr M A Reardon
Director
Company Registration No. 08165140
KOCKS ARDELT KRANBAU LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
- 2 -
1
Accounting policies
Company information
Kocks Ardelt Kranbau Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is given in the company information page.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
1.2
Going concern
The directors believe that the company has sufficient resources to continue its operations for the foreseeable future, due to continuing support from it's parent, Kocks Ardelt Kranbau GmbH. The company has been impacted by the COVID-19 pandemic however has made use of available government grants. As a result, the directors have adopted the 'going concern' basis of accounting in preparing the annual financial statements.
1.3
Turnover
The turnover shown in the profit and loss account represents the value of work done during the period, exclusive of value added tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer
(usually on dispatch of the goods)
, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures & fittings
- 5 years on a straight line basis
Office equipment
- 2 years on a straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Cash at bank and in hand
Cash
at bank and in hand
are basic financial assets
and
include cash, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
KOCKS ARDELT KRANBAU LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
1
Accounting policies
(Continued)
- 3 -
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
1.10
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
1.11
Foreign exchange
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 3
(2019: 2)
KOCKS ARDELT KRANBAU LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
- 4 -
3
Tangible fixed assets
Fixtures & fittings
Office equipment
Total
£
£
£
Cost
At 1 January 2020
11,306
12,778
24,084
Additions
-
500
500
Disposals
-
(7,825)
(7,825)
At 31 December 2020
11,306
5,453
16,759
Depreciation and impairment
At 1 January 2020
11,306
12,203
23,509
Depreciation charged in the year
-
541
541
Eliminated in respect of disposals
-
(7,825)
(7,825)
At 31 December 2020
11,306
4,919
16,225
Carrying amount
At 31 December 2020
-
534
534
At 31 December 2019
-
575
575
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Corporation tax recoverable
-
8,673
Amounts owed by group undertakings
8,100
13,352
Other debtors
787
977
Prepayments and accrued income
5,722
6,384
14,609
29,386
5
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
482
1,003
Other taxation and social security
5,499
7,280
Other creditors
931
-
Accruals and deferred income
8,184
8,438
15,096
16,721
KOCKS ARDELT KRANBAU LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
- 5 -
6
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
7
Audit report information
As the
profit and loss account
has been omitted from the filing copy of the financial statements the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006
:
The audit report in respect of these accounts was unqualified with no emphasis of matter. The
S
enior
S
tatutory
A
uditor was
Charlotte Toemaes
of Ellacotts Audit Services Limited.
8
Financial commitments, guarantees and contingent liabilities
At the reporting date the company had outstanding lease commitments for future minimum lease payments under non-cancellable operating leases of £31,647 (2019: £50,348).
9
Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under FRS102 Section 1A.
10
Parent company
The parent company was Kocks Ardelt Kranbau GmbH, a company incorporated in Germany. The results of Kocks Ardelt Kranbau Limited have been consolidated within the financial statements of Kocks Ardelt Kranbau GmbH and the registered office address is Heegermuhlerstrasse 64, 16225 Eberswalde, Germany.