Kaltz Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04047102 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2019

FOR

KALTZ LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr Charlie Richards

Julian Wai-Ming Cheung

SECRETARY:

Mr Charlie Richards

REGISTERED OFFICE:

2nd Floor

St George's House

2 St George's Road

Bolton

Lancashire

BL1 2EN

REGISTERED NUMBER:

04047102 (England and Wales)

ACCOUNTANTS:

SBCA Chartered Accountants

17 Moor Park Avenue

Preston

Lancashire

PR1 6AS

FIXED ASSETS

Tangible assets

4

6,106

8,824

CURRENT ASSETS

Stocks

5

133,195

144,123

Debtors

6

345,138

305,757

478,333

449,880

CREDITORS

Amounts falling due within one year

7

(305,821

)

(268,460

)

NET CURRENT ASSETS

172,512

181,420

TOTAL ASSETS LESS CURRENT LIABILITIES

178,618

190,244

PROVISIONS FOR LIABILITIES

9

-

(953

)

NET ASSETS

178,618

189,291

CAPITAL AND RESERVES

Called up share capital

10

2,002

2,002

Retained earnings

11

176,616

187,289

SHAREHOLDERS' FUNDS

178,618

189,291

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2019 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 July 2020 and were signed on its behalf by:

Mr Charlie Richards - Director

1.	STATUTORY INFORMATION

Kaltz 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other

Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Basic financial assets:

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction

price including transaction costs and are subsequently carried at amortised cost using the effective interest

method unless the arrangement constitutes a financing transaction, where the transaction is measured at the

present value of the future cash flows discounted at a market rate of interest. Financial assets classified as

receivable within one year are not amortised.

Classification of financial liabilities:

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of

the company after deducting all of its liabilities.

Basic financial liabilities:

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the

arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of

future cash flows discounted at a market rate of interest. Financial liabilities classified as payable within one year

are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities if the payment is due within one year

or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction

price and subsequently measured at amortised cost using the effective interest rate method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2018 - 30 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 September 2018

57,941

1,478

6,755

66,174

Additions

-

350

1,149

1,499

At 31 August 2019

57,941

1,828

7,904

67,673

DEPRECIATION

At 1 September 2018

53,325

553

3,472

57,350

Charge for year

1,152

457

2,608

4,217

At 31 August 2019

54,477

1,010

6,080

61,567

NET BOOK VALUE

At 31 August 2019

3,464

818

1,824

6,106

At 31 August 2018

4,616

925

3,283

8,824

5.

STOCKS

31.8.19

31.8.18

£

£

Work-in-progress

133,195

144,123

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.19

31.8.18

£

£

Trade debtors

188,453

144,481

Other debtors

156,685

161,276

345,138

305,757

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.19

31.8.18

£

£

Bank loans and overdrafts

33,934

46,363

Trade creditors

75,902

64,923

Taxation and social security

47,646

35,758

Other creditors

148,339

121,416

305,821

268,460

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.8.19

31.8.18

£

£

Within one year

20,000

20,000

Between one and five years

36,667

56,667

56,667

76,667

9.	PROVISIONS FOR LIABILITIES

31.8.18

£

Deferred tax

Deferred tax

953

Deferred

tax

£

Balance at 1 September 2018

953

Provided during year

(1,644

)

Balance at 31 August 2019

(691

)

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.19

31.8.18

value:

£

£

2

Ordinary A

£1

2

2

200,000

E

£0.01

2,000

2,000

2,002

2,002

11.

RESERVES

Retained

earnings

£

At 1 September 2018

187,289

Deficit for the year

(10,673

)

At 31 August 2019

176,616