KG Newco Limited
KG Newco Limited
Registered number: 08272250
Directors' Report and
Unaudited Financial Statements
For the Period 1 April 2016 to 31 December 2016
Meacher-Jones
Chartered Accountants
6 St John's Court
Vicars Lane
Chester
Cheshire
CH1 1QE
KG Newco Limited
Directors' Report and Unaudited Financial Statements
For the Period 1 April 2016 to 31 December 2016
Directors' Report and Unaudited Financial Statements
| Contents | |
| Page | |
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| Company Information | 1 |
| Directors' Report | 2 |
| Accountant's Report | 3 |
| Dormant Profit and Loss Account Statement | 4 |
| Balance Sheet | 5—6 |
| Notes to the Financial Statements | 7—8 |
KG Newco Limited
Company Information
For the Period 1 April 2016 to 31 December 2016
Company Information
| Directors |
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| Secretary |
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| Company Number |
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| Registered Office | C/o SPS Technologies Limited |
| 191 Barkby Road, Troon Indsutrial Estate | |
| Leicester | |
| Leicestershire | |
| LE4 9HX | |
| Accountants |
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| Chartered Accountants | |
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| Vicars Lane | |
| Chester | |
| Cheshire | |
| CH1 1QE | |
Page 1
KG Newco Limited
Company No. 08272250
Directors' Report For the Period 1 April 2016 to 31 December 2016
Directors' Report
The directors present their report and the financial statements for the period ended 31 December 2016 .
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
Directors
The directors who held office during the period were as follows:
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Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
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Page 2
KG Newco Limited
Accountant's Report
For the Period 1 April 2016 to 31 December 2016
Accountant's Report
Chartered Accountant's report to the directors on the preparation of the unaudited statutory accounts of KG Newco Limited For the Period 1 April 2016 to 31 December 2016
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of KG Newco Limited For the Period 1 April 2016 to 31 December 2016 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the directors of KG Newco Limited , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of KG Newco Limited and state those matters that we have agreed to state to the directors of KG Newco Limited , as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KG Newco Limited and its directors, as a body, for our work or for this report.
It is your duty to ensure that KG Newco Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of KG Newco Limited . You consider that KG Newco Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit of the accounts of KG Newco Limited . 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 financial statements.
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Chartered Accountants
6 St John's Court
Vicars Lane
Chester
Cheshire
CH1 1QE
Page 3
KG Newco Limited
Dormant Profit and Loss Account Statement
For the Period 1 April 2016 to 31 December 2016
Dormant Profit and Loss Account Statement
The company has not traded during the year or the preceding financial year. During these years, the company received no income and incurred no expenditure and therefore made neither profit nor loss.
Page 4
KG Newco Limited
Balance Sheet
As at
31 December 2016
Balance Sheet
| Period to 31 December 2016 | 31 March 2016 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Investments | 3 |
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| CURRENT ASSETS | |||||
| Debtors |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 4 |
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| Profit and loss account |
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| SHAREHOLDERS' FUNDS | (15,763) | (15,763) | |||
Page 5
KG Newco Limited
Balance Sheet (continued)
As at
31 December 2016
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
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The notes on pages 7 to 8 form part of these financial statements.
Page 6
KG Newco Limited
Notes to the Unaudited Accounts
For the Period 1 April 2016 to 31 December 2016
Notes to the Unaudited Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The company was dormant throughout the period.
2.
Operating Profit
| Period to 31 December 2016 | 31 March 2016 | ||
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| £ | £ | ||
3.
Investments
| Unlisted | |
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| Cost | |
| As at |
1,652,455 |
| As at |
1,652,455 |
| Provision | |
| As at |
- |
| As at |
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| Net Book Value | |
| As at |
1,652,455 |
| As at |
1,652,455 |
Page 7
KG Newco Limited
Notes to the Unaudited Accounts (continued)
For the Period 1 April 2016 to 31 December 2016
5.
Ultimate Parent Undertaking and Controlling Party
The immediate parent company of Newco Limited is SPS Technologies Limited, registered in England & Wales,
company number 00303951.
The directors regard SPS International SARL, a company incorporated in Luxembourg, as the immediate parent
company of SPS Technologies Limited and Precision Castparts Corp. (PCC), a company incorporated in the
Commonwealth of Oregon in the United States of America, as the ultimate parent company and controlling party.
The smallest set of accounts that SPS Technologies Limited is consolidated into is Precision Castparts Corp.
ULTIMATE CONTROLLING PARTY
The directors regard SPS International SARL, a company incorporated in Luxembourg, as the immediate parent
company and Precision Castparts Corp. (PCC), a company incorporated in the Commonwealth of Oregon in the
United States of America, as the ultimate parent company and controlling party. The smallest set of accounts that
SPS Technologies Limited is consolidated into is Precision Castparts Corp.
6.
General Information
KG Newco Limited Registered number 08272250 is a limited by shares company incorporated in England & Wales. The Registered Office is C/o SPS Technologies Limited, 191 Barkby Road, Troon Indsutrial Estate, Leicester, Leicestershire, LE4 9HX.
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