IRIS Accounts Production v22.1.4.3 06963816 Board of Directors Board of Directors 1.1.21 31.12.21 31.12.21 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure069638162020-12-31069638162021-12-31069638162021-01-012021-12-31069638162019-12-31069638162020-01-012020-12-31069638162020-12-3106963816ns16:EnglandWales2021-01-012021-12-3106963816ns15:PoundSterling2021-01-012021-12-3106963816ns11:Director12021-01-012021-12-3106963816ns11:Director22021-01-012021-12-3106963816ns11:PrivateLimitedCompanyLtd2021-01-012021-12-3106963816ns11:SmallEntities2021-01-012021-12-3106963816ns11:AuditExempt-NoAccountantsReport2021-01-012021-12-3106963816ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-3106963816ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-3106963816ns11:FullAccounts2021-01-012021-12-3106963816ns11:Director32021-01-012021-12-3106963816ns11:CompanySecretary12021-01-012021-12-3106963816ns11:RegisteredOffice2021-01-012021-12-3106963816ns6:CurrentFinancialInstruments2021-12-3106963816ns6:CurrentFinancialInstruments2020-12-3106963816ns6:Non-currentFinancialInstruments2021-12-3106963816ns6:Non-currentFinancialInstruments2020-12-3106963816ns6:ShareCapital2021-12-3106963816ns6:ShareCapital2020-12-3106963816ns6:RetainedEarningsAccumulatedLosses2021-12-3106963816ns6:RetainedEarningsAccumulatedLosses2020-12-3106963816ns6:PlantMachinery2021-01-012021-12-3106963816ns6:FurnitureFittings2021-01-012021-12-3106963816ns6:MotorVehicles2021-01-012021-12-3106963816ns6:ComputerEquipment2021-01-012021-12-3106963816ns6:PlantMachinery2020-12-3106963816ns6:PlantMachinery2021-12-3106963816ns6:PlantMachinery2020-12-3106963816ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2020-12-3106963816ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2021-01-012021-12-3106963816ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2021-12-3106963816ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2020-12-3106963816ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3106963816ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-31
REGISTERED NUMBER: 06963816 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 December 2021

for

Kugel Motion Limited

Kugel Motion Limited (Registered number: 06963816)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kugel Motion Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: Mr A O'Neill
Mrs L B D O'Neill
Mr K Ewing





SECRETARY: Mrs L B D O'Neill





REGISTERED OFFICE: The Fulcrum
Lows Lane
Ilkeston
Derbyshire
DE7 4RJ





REGISTERED NUMBER: 06963816 (England and Wales)





ACCOUNTANTS: Haines Watts
Cliffe Hill House
22-26 Nottingham Road
Stapleford
Nottingham
NG9 8AA

Kugel Motion Limited (Registered number: 06963816)

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 164,444 165,929

CURRENT ASSETS
Stocks 165,629 209,981
Debtors 5 207,903 260,382
Cash at bank 300,817 340,122
674,349 810,485
CREDITORS
Amounts falling due within one year 6 371,022 401,359
NET CURRENT ASSETS 303,327 409,126
TOTAL ASSETS LESS CURRENT
LIABILITIES

467,771

575,055

CREDITORS
Amounts falling due after more than one
year

7

(272,443

)

(359,007

)

PROVISIONS FOR LIABILITIES (41,111 ) (31,526 )
NET ASSETS 154,217 184,522

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 154,214 184,519
SHAREHOLDERS' FUNDS 154,217 184,522

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

Kugel Motion Limited (Registered number: 06963816)

Balance Sheet - continued
31 December 2021


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 25 August 2022 and were signed on its behalf by:




Mr A O'Neill - Director



Mr K Ewing - Director


Kugel Motion Limited (Registered number: 06963816)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Kugel Motion 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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office Equipment - 25% on reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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 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.

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.

Kugel Motion Limited (Registered number: 06963816)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

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.

Government grants
Income is recognised so as to match with the related expenses. Where grants are received in advance of the related expenses, they are recognised in accruals and deferred income on the balance sheet. Grants are recognised in the profit and loss account on recognition of certain milestones being achieved.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2020 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2021 413,127
Additions 53,332
At 31 December 2021 466,459
DEPRECIATION
At 1 January 2021 247,198
Charge for year 54,817
At 31 December 2021 302,015
NET BOOK VALUE
At 31 December 2021 164,444
At 31 December 2020 165,929

Kugel Motion Limited (Registered number: 06963816)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. TANGIBLE FIXED ASSETS - continued

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

Plant and
machinery
etc
£   
COST
At 1 January 2021
and 31 December 2021 198,283
DEPRECIATION
At 1 January 2021 91,188
Charge for year 26,774
At 31 December 2021 117,962
NET BOOK VALUE
At 31 December 2021 80,321
At 31 December 2020 107,095

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 158,093 176,096
Amounts owed by associates - 18,763
Other debtors 49,810 65,523
207,903 260,382

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Hire purchase contracts 26,808 26,808
Trade creditors 45,313 65,461
Amounts owed to associates 28,045 -
Taxation and social security 47,080 54,121
Other creditors 223,776 254,969
371,022 401,359

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.21 31.12.20
£    £   
Hire purchase contracts 93,193 120,007
Other creditors 179,250 239,000
272,443 359,007

Kugel Motion Limited (Registered number: 06963816)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.12.21 31.12.20
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Hire purchase 5,598 25,695

8. OTHER FINANCIAL COMMITMENTS

The company has other financial commitments in respect of a business premise lease of £15,000.

9. RELATED PARTY DISCLOSURES

At the balance sheet date £28,045 (2020 - £18,763 owed by company under common control) was owed to a company under common control.