Keiser UK Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04264117 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

FOR

KEISER UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D Keiser

R Keiser

A Watson

SECRETARY:

P Pangburn

REGISTERED OFFICE:

Unit 3

Hampton Industrial Estate

Hampton Road

Tetbury

Gloucestershire

GL8 8LD

REGISTERED NUMBER:

04264117 (England and Wales)

SENIOR STATUTORY AUDITOR:

Andrew Lee BSc ACA

AUDITORS:

Graham Paul Limited

(Statutory Auditor)

Court House

Court Road

Bridgend

CF31 1BE

BANKERS:

HSBC

8 Canada Square

London

E14 5HQ

FIXED ASSETS

Tangible assets

4

4,219

14,135

CURRENT ASSETS

Stocks

889,713

643,905

Debtors

5

435,999

375,757

Cash at bank and in hand

423,543

305,074

1,749,255

1,324,736

CREDITORS

Amounts falling due within one year

6

1,336,046

819,204

NET CURRENT ASSETS

413,209

505,532

TOTAL ASSETS LESS CURRENT LIABILITIES

417,428

519,667

CREDITORS

Amounts falling due after more than one year

7

7,066

10,941

NET ASSETS

410,362

508,726

CAPITAL AND RESERVES

Called up share capital

2

2

Share premium

1,998

1,998

Retained earnings

408,362

506,726

SHAREHOLDERS' FUNDS

410,362

508,726

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 Board of Directors on 26 March 2018 and were signed on its behalf by:

D Keiser - Director

1.	STATUTORY INFORMATION

Keiser UK Limited 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 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 represents net invoiced sales of goods, excluding value added tax, based on delivery date.

Where work is undertaken on contracts over a period of time, income is recognised in proportion to

the work done in each period.

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.

Land and buildings

-

Over the life of the lease

Plant and machinery etc

-

33% on cost

Stocks

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

obsolete and slow moving items.

Taxation

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

Statement, 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.

Foreign currencies

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 transaction. Exchange differences are taken into account in arriving

at the operating result.

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.

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.

Warranty

Repairs for goods sold under warranties are charged to the profit and loss account as incurred.

Warranty for goods is provided by Keiser US Inc., the original manufacturer.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 July 2016

5,324

141,906

147,230

Additions

-

1,546

1,546

At 30 June 2017

5,324

143,452

148,776

DEPRECIATION

At 1 July 2016

3,012

130,083

133,095

Charge for year

531

10,931

11,462

At 30 June 2017

3,543

141,014

144,557

NET BOOK VALUE

At 30 June 2017

1,781

2,438

4,219

At 30 June 2016

2,312

11,823

14,135

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

Plant and

machinery

etc

£

COST

At 1 July 2016

and 30 June 2017

30,760

DEPRECIATION

At 1 July 2016

22,222

Charge for year

8,538

At 30 June 2017

30,760

NET BOOK VALUE

At 30 June 2017

-

At 30 June 2016

8,538

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

383,344

275,661

Other debtors

52,655

100,096

435,999

375,757

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

3,875

3,875

Trade creditors

57,593

71,036

Amounts owed to group undertakings

848,449

487,821

Taxation and social security

43,241

29,803

Other creditors

382,888

226,669

1,336,046

819,204

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

7,066

10,941

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Hire purchase contracts

10,941

14,816

Financing in relation to assets purchased under hire-purchase or similar agreements is secured on

the related specific assets.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Lee BSc ACA (Senior Statutory Auditor)

for and on behalf of Graham Paul Limited

10.	ULTIMATE CONTROLLING PARTY