KME STEELWORKS LTD

Company Registration Number:
NI036080 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 December 2021

Period of accounts

Start date: 01 January 2021

End date: 31 December 2021

KME STEELWORKS LTD

Contents of the Financial Statements

for the Period Ended 31 December 2021

Balance sheet
Notes

KME STEELWORKS LTD

Balance sheet

As at 31 December 2021


Notes

2021

2020


£

£
Fixed assets
Tangible assets: 3 1,458,940 1,307,412
Total fixed assets: 1,458,940 1,307,412
Current assets
Stocks: 954,803 582,084
Debtors:   1,736,834 1,275,410
Cash at bank and in hand: 331,622 921,698
Total current assets: 3,023,259 2,779,192
Creditors: amounts falling due within one year:   (1,433,487) (1,042,610)
Net current assets (liabilities): 1,589,772 1,736,582
Total assets less current liabilities: 3,048,712 3,043,994
Creditors: amounts falling due after more than one year:   (523,238) (516,737)
Total net assets (liabilities): 2,525,474 2,527,257
Capital and reserves
Called up share capital: 9,001 8,025
Share premium account: 24,024
Profit and loss account: 2,492,449 2,519,232
Shareholders funds: 2,525,474 2,527,257

The notes form part of these financial statements

KME STEELWORKS LTD

Balance sheet statements

For the year ending 31 December 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 03 August 2022
and signed on behalf of the board by:

Name: JASON QUINN
Status: Director

The notes form part of these financial statements

KME STEELWORKS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible fixed assets and depreciation policy

Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows:Long leasehold property - 20% reducing balancePlant and machinery - 20% reducing balanceFixtures, fittings and equipment - 15% reducing balanceMotor vehicles - 25% reducing balance

KME STEELWORKS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2021

2. Employees

2021 2020
Average number of employees during the period 98 69

KME STEELWORKS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2021

3. Tangible Assets

Total
Cost £
At 01 January 2021 3,093,520
Additions 364,738
At 31 December 2021 3,458,258
Depreciation
At 01 January 2021 1,786,108
Charge for year 213,210
At 31 December 2021 1,999,318
Net book value
At 31 December 2021 1,458,940
At 31 December 2020 1,307,412