IRIS Accounts Production v22.2.0.402 10086620 Board of Directors 1.1.21 31.12.21 31.12.21 false true false false true false A Ordinary 1.00000 B Ordinary 0.01000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure100866202020-12-31100866202021-12-31100866202021-01-012021-12-31100866202019-12-31100866202020-01-012020-12-31100866202020-12-3110086620ns16:EnglandWales2021-01-012021-12-3110086620ns15:PoundSterling2021-01-012021-12-3110086620ns11:Director12021-01-012021-12-3110086620ns11:PrivateLimitedCompanyLtd2021-01-012021-12-3110086620ns11:SmallEntities2021-01-012021-12-3110086620ns11:AuditExempt-NoAccountantsReport2021-01-012021-12-3110086620ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-3110086620ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-3110086620ns11:FullAccounts2021-01-012021-12-3110086620ns11:OrdinaryShareClass12021-01-012021-12-3110086620ns11:OrdinaryShareClass22021-01-012021-12-3110086620ns11:Director32021-01-012021-12-3110086620ns11:RegisteredOffice2021-01-012021-12-3110086620ns6:CurrentFinancialInstruments2021-12-3110086620ns6:CurrentFinancialInstruments2020-12-3110086620ns6:ShareCapital2021-12-3110086620ns6:ShareCapital2020-12-3110086620ns6:RetainedEarningsAccumulatedLosses2021-12-3110086620ns6:RetainedEarningsAccumulatedLosses2020-12-3110086620ns6:LeaseholdImprovements2021-01-012021-12-3110086620ns6:PlantMachinery2021-01-012021-12-3110086620ns6:FurnitureFittings2021-01-012021-12-3110086620ns6:LeaseholdImprovements2020-12-3110086620ns6:PlantMachinery2020-12-3110086620ns6:FurnitureFittings2020-12-3110086620ns6:LeaseholdImprovements2021-12-3110086620ns6:PlantMachinery2021-12-3110086620ns6:FurnitureFittings2021-12-3110086620ns6:LeaseholdImprovements2020-12-3110086620ns6:PlantMachinery2020-12-3110086620ns6:FurnitureFittings2020-12-3110086620ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3110086620ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-3110086620ns6:CurrentFinancialInstruments2021-01-012021-12-3110086620ns11:OrdinaryShareClass12021-12-3110086620ns11:OrdinaryShareClass22021-12-3110086620ns11:Director22021-01-012021-12-31100866202ns11:Director22020-12-31100866202ns11:Director22019-12-31100866202ns11:Director22021-01-012021-12-31100866202ns11:Director22020-01-012020-12-31100866202ns11:Director22021-12-31100866202ns11:Director22020-12-31
REGISTERED NUMBER: 10086620 (England and Wales)


























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

ADVANCED KFS FABRICATION LIMITED

ADVANCED KFS FABRICATION LIMITED (REGISTERED NUMBER: 10086620)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ADVANCED KFS FABRICATION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: Mr I J Knight
Mr A R Hawkyard





REGISTERED OFFICE: Fleming Court
Leigh Road
Eastleigh
Southampton
Hampshire
SO50 9PD





BUSINESS ADDRESS: Unit S Hunting Gate
Portway Industrial Estate
Andover
Hampshire
SP10 3SJ





REGISTERED NUMBER: 10086620 (England and Wales)






ADVANCED KFS FABRICATION LIMITED (REGISTERED NUMBER: 10086620)

BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 12,692 15,752

CURRENT ASSETS
Stocks 58,545 54,422
Debtors 6 171,672 89,890
Cash at bank and in hand - 3,709
230,217 148,021
CREDITORS
Amounts falling due within one year 7 162,068 101,891
NET CURRENT ASSETS 68,149 46,130
TOTAL ASSETS LESS CURRENT
LIABILITIES

80,841

61,882

PROVISIONS FOR LIABILITIES 2,411 2,923
NET ASSETS 78,430 58,959

CAPITAL AND RESERVES
Called up share capital 8 101 101
Retained earnings 78,329 58,858
SHAREHOLDERS' FUNDS 78,430 58,959

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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 May 2022 and were signed on its behalf by:





Mr I J Knight - Director


ADVANCED KFS FABRICATION LIMITED (REGISTERED NUMBER: 10086620)

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


1. STATUTORY INFORMATION

Advanced KFS Fabrication 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.
Improvements to property - 20% straight line
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance

All fixed assets are initially recorded at cost.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

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.

ADVANCED KFS FABRICATION LIMITED (REGISTERED NUMBER: 10086620)

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


3. ACCOUNTING POLICIES - continued

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
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 contributes to a defined contribution pension scheme. Contributions payable to the pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Income Statement in administrative expenses.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2020 - 8 ) .

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 January 2021
and 31 December 2021 5,050 21,092 127 26,269
DEPRECIATION
At 1 January 2021 2,967 7,524 26 10,517
Charge for year 1,009 2,036 15 3,060
At 31 December 2021 3,976 9,560 41 13,577
NET BOOK VALUE
At 31 December 2021 1,074 11,532 86 12,692
At 31 December 2020 2,083 13,568 101 15,752

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 64,950 19,179
Amounts owed by group undertakings 94,769 61,555
Other debtors 11,953 9,156
171,672 89,890

Included in other debtors is £11,953 (2020: £2,598) in relation to prepayments and accrued income.

ADVANCED KFS FABRICATION LIMITED (REGISTERED NUMBER: 10086620)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 610 -
Trade creditors 102,317 57,383
Taxation and social security 47,453 32,942
Other creditors 11,688 11,566
162,068 101,891

Included in other creditors is £10,342 (2020: £10,900) in relation to accruals and deferred income.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
100 A Ordinary £1 100 100
100 B Ordinary £0.01 1 1
101 101

9. OTHER FINANCIAL COMMITMENTS

Total future financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £16,178 (2020: £24,134). This amount is in relation to operating lease commitments which are payable over the next 3 years (2020: 4 years).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2021 and 31 December 2020:

2021 2020
£    £   
Mr M A Adams
Balance outstanding at start of year 6,000 -
Amounts advanced - 6,000
Amounts repaid (6,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 6,000

The loan was unsecured and interest free.

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group companies where any subsidiary that is a party to the transaction is wholly owned within the group or where transactions have been undertaken under normal market conditions.