Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31No description of principal activity2021-01-01false1211falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03085869 2021-01-01 2021-12-31 03085869 2020-01-01 2020-12-31 03085869 2021-12-31 03085869 2020-12-31 03085869 c:Director1 2021-01-01 2021-12-31 03085869 c:Director2 2021-01-01 2021-12-31 03085869 d:Buildings 2021-01-01 2021-12-31 03085869 d:Buildings 2021-12-31 03085869 d:Buildings 2020-12-31 03085869 d:Buildings d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 03085869 d:Buildings d:LeasedAssetsHeldAsLessee 2021-01-01 2021-12-31 03085869 d:PlantMachinery 2021-01-01 2021-12-31 03085869 d:PlantMachinery 2021-12-31 03085869 d:PlantMachinery 2020-12-31 03085869 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 03085869 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2021-01-01 2021-12-31 03085869 d:MotorVehicles 2021-01-01 2021-12-31 03085869 d:MotorVehicles 2021-12-31 03085869 d:MotorVehicles 2020-12-31 03085869 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 03085869 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2021-01-01 2021-12-31 03085869 d:FurnitureFittings 2021-01-01 2021-12-31 03085869 d:FurnitureFittings 2021-12-31 03085869 d:FurnitureFittings 2020-12-31 03085869 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 03085869 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2021-01-01 2021-12-31 03085869 d:OfficeEquipment 2021-01-01 2021-12-31 03085869 d:OfficeEquipment 2021-12-31 03085869 d:OfficeEquipment 2020-12-31 03085869 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 03085869 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2021-01-01 2021-12-31 03085869 d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 03085869 d:LeasedAssetsHeldAsLessee 2021-01-01 2021-12-31 03085869 d:CurrentFinancialInstruments 2021-12-31 03085869 d:CurrentFinancialInstruments 2020-12-31 03085869 d:Non-currentFinancialInstruments 2021-12-31 03085869 d:Non-currentFinancialInstruments 2020-12-31 03085869 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 03085869 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 03085869 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 03085869 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 03085869 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-12-31 03085869 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2020-12-31 03085869 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-12-31 03085869 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2020-12-31 03085869 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-12-31 03085869 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2020-12-31 03085869 d:ShareCapital 2021-12-31 03085869 d:ShareCapital 2020-12-31 03085869 d:CapitalRedemptionReserve 2021-12-31 03085869 d:CapitalRedemptionReserve 2020-12-31 03085869 d:RetainedEarningsAccumulatedLosses 2021-12-31 03085869 d:RetainedEarningsAccumulatedLosses 2020-12-31 03085869 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-12-31 03085869 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2020-12-31 03085869 c:FRS102 2021-01-01 2021-12-31 03085869 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 03085869 c:FullAccounts 2021-01-01 2021-12-31 03085869 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 03085869 d:HirePurchaseContracts d:WithinOneYear 2021-12-31 03085869 d:HirePurchaseContracts d:BetweenOneFiveYears 2021-12-31 03085869 d:HirePurchaseContracts d:BetweenOneFiveYears 2020-12-31 03085869 d:HirePurchaseContracts d:WithinOneYear 2020-12-31 03085869 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 03085869 d:AcceleratedTaxDepreciationDeferredTax 2020-12-31 03085869 d:TaxLossesCarry-forwardsDeferredTax 2021-12-31 03085869 d:TaxLossesCarry-forwardsDeferredTax 2020-12-31 03085869 2 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure
Registered number: 03085869














KENT AUTO DEVELOPMENTS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2021

 
KENT AUTO DEVELOPMENTS LIMITED
REGISTERED NUMBER:03085869

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
435,363
511,331

Current assets
  

Stocks
  
95,000
80,000

Debtors: amounts falling due within one year
 5 
28,156
106,335

Cash at bank and in hand
 6 
13,959
62,644

  
137,115
248,979

Creditors: amounts falling due within one year
 7 
(133,465)
(213,398)

Net current assets
  
 
 
3,650
 
 
35,581

Total assets less current liabilities
  
439,013
546,912

Creditors: amounts falling due after more than one year
 8 
(152,657)
(218,424)

Provisions for liabilities
  

Deferred tax
 12 
(80,940)
(81,804)

Net assets
  
£205,416
£246,684


Capital and reserves
  

Called up share capital 
  
167
167

Capital redemption reserve
  
20,000
20,000

Profit and loss account
  
185,249
226,517

  
£205,416
£246,684


Page 1

 
KENT AUTO DEVELOPMENTS LIMITED
REGISTERED NUMBER:03085869

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 July 2022.




___________________________
Mr C Woollard
___________________________
Mr P Woollard
Director
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
KENT AUTO DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Kent Auto Developments Limited is a private company limited by shares incorporated in England and Wales.
The Company registration number is 03085869.
The registered office address of the Company is Brooker Farm, Newchurch, Romney Marsh, Kent, TN29 0DT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
KENT AUTO DEVELOPMENTS LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
KENT AUTO DEVELOPMENTS LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
land not depreciated
Plant and machinery
-
16.7% - 25% reducing balance basis
Motor vehicles
-
25% reducing balance basis
Fixtures and fittings
-
20% reducing balance basis
Office equipment
-
20% reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
KENT AUTO DEVELOPMENTS LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2020 - 11).

Page 6

 
KENT AUTO DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2021
49,848
796,152
61,759
12,761
3,279
923,799


Additions
-
43,440
-
912
-
44,352



At 31 December 2021

49,848
839,592
61,759
13,673
3,279
968,151



Depreciation


At 1 January 2021
-
390,985
7,949
11,968
1,566
412,468


Charge for the year on owned assets
-
38,528
12,352
233
343
51,456


Charge for the year on financed assets
-
68,864
-
-
-
68,864



At 31 December 2021

-
498,377
20,301
12,201
1,909
532,788



Net book value



At 31 December 2021
£49,848
£341,215
£41,458
£1,472
£1,370
£435,363



At 31 December 2020
£49,848
£405,167
£53,810
£793
£1,713
£511,331


5.


Debtors

2021
2020
£
£


Trade debtors
15,697
47,084

Other debtors
-
15,169

Prepayments and accrued income
3,027
2,000

Tax recoverable
9,432
42,082

£28,156
£106,335



6.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
£13,959
£62,644


Page 7

 
KENT AUTO DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

7.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank loans
9,658
5,833

Trade creditors
36,764
92,972

Other taxation and social security
13,726
9,254

Obligations under finance lease and hire purchase contracts
56,417
56,581

Other creditors
13,296
44,941

Accruals and deferred income
3,604
3,817

£133,465
£213,398



8.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
34,817
44,167

Net obligations under finance leases and hire purchase contracts
117,840
174,257

£152,657
£218,424



9.


Loans


Analysis of the maturity of loans is given below:


2021
2020
£
£

Amounts falling due within one year

Bank loans
9,658
5,833

Amounts falling due 1-2 years

Bank loans
9,899
10,000

Amounts falling due 2-5 years

Bank loans
20,548
30,000

Amounts falling due after more than 5 years

Bank loans
4,370
4,167

£44,475
£50,000


Page 8

 
KENT AUTO DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2021
2020
£
£


Within one year
56,417
56,581

Between 1-5 years
117,840
174,257

£174,257
£230,838

Obligations under finance leases and hire purchase contracts are secured on the assets concerned.


11.


Financial instruments

2021
2020
£
£

Financial assets


Financial assets measured at fair value through profit or loss
£13,959
£62,644




Financial assets measured at fair value through profit or loss comprise bank and cash in hand.


12.


Deferred taxation




2021


£






At beginning of year
81,804


Charged to profit or loss
(864)



At end of year
£80,940

The provision for deferred taxation is made up as follows:

2021
2020
£
£


Accelerated capital allowances
120,312
105,705

Tax losses carried forward
(39,372)
(23,901)

£80,940
£81,804

Page 9

 
KENT AUTO DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £6,795 (2020 - £6,795). Contributions totalling £1,469 (2020 - £4,835) were payable to the fund at the balance sheet date and are included in creditors.

Page 10