K-Tech Plastics Machinery Ltd |
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Directors Report |
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for the Period Ended 5 April 2023 |
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The directors present their report with the financial statements of the company for the |
period ended 5 April 2023 |
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Principal activities |
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The principal activity of the company in the period under review was |
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Supply of manufacturing equipment |
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Directors |
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The director(s) shown below have held office during the whole of the period |
Janet Shields |
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Karl Shields |
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Small Company Provisions |
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These accounts have been prepared in accordance with the provisions applicable to |
companies subject to the small companies regime. |
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This report was approved by the board of directors on |
2023-06-16 |
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and signed on behalf of the board by |
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Name |
Janet Shields |
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Status |
Secretary |
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Page 4 |
K-Tech Plastics Machinery Ltd |
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Balance Sheet |
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for the Period Ended 5 April 2023 |
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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. |
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For the year ending 5 April 2023 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. |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
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The financial statements were approved by the Board of Directors on |
2023-06-16 |
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SIGNED ON BEHALF OF THE BOARD BY |
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Name |
Janet Shields |
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The notes form part of these financial statements |
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Average number of employees during period |
2 |
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Page 7 |
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K-Tech Plastics Machinery Ltd |
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Notes to the Financial Statements |
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for the Period Ended 5 April 2023 |
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1. Accounting policies |
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Basis of preparation |
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The financial statements have been prepared under the historical cost convention and in accordance with the small companies regime. |
Going Concern |
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The company has a deficit on shareholders' funds and relies upon the support of its shareholders and creditors,which has been confirmed for a period of at least twelve months from the approval of the financial statements.Accordingly the directors have prepared the financial statements on the going concern basis. |
Turnover |
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The turnover shown in the profit and loss account represents revenue earned during the period, exclusive of VAT. |
Tangible fixed assets Depreciation |
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Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. |
Stocks |
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Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
Deferred taxation |
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Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Foreign currencies |
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Assets and liabilities in foreign currencies are translated into sterling at the rates of exchangeruling at the balance sheet date. Transactions in foreign currencies are translated into sterling atthe rate of exchange ruling at the date of the transaction. Exchange differences are taken intoaccount in arriving at the operating profit. |
Research and Development |
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Expenditure on research and development is written off in the year in which it is incurred. |
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Page 8 |
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