Registered number
01497440
Kalstan Engineering Limited
Filleted Accounts
30 November 2023
Kalstan Engineering Limited
Registered number: 01497440
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 541,204 559,319
Current assets
Debtors 4 42,983 55,230
Creditors: amounts falling due within one year 5 (346,443) (311,305)
Net current liabilities (303,460) (256,075)
Total assets less current liabilities 237,744 303,244
Creditors: amounts falling due after more than one year 6 (153,094) (225,124)
Provisions for liabilities - -
Net assets 84,650 78,120
Capital and reserves
Called up share capital 62,500 62,500
Profit and loss account 22,150 15,620
Shareholders' funds 84,650 78,120
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S J Kalmar
Director
Approved by the board on 29 August 2024
Kalstan Engineering Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 7.5% reducing balance
Office Equipment 15% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 7
3 Tangible fixed assets
Plant and machinery etc Office Equipment Total
£ £ £
Cost
At 1 December 2022 1,159,669 27,485 1,187,154
Additions 2,662 599 3,261
At 30 November 2023 1,162,331 28,084 1,190,415
Depreciation
At 1 December 2022 607,189 20,646 627,835
Charge for the year 20,818 558 21,376
At 30 November 2023 628,007 21,204 649,211
Net book value
At 30 November 2023 534,324 6,880 541,204
At 30 November 2022 552,480 6,839 559,319
4 Debtors 2023 2022
£ £
Trade debtors 42,983 55,230
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 39,649 32,634
Obligations under finance lease and hire purchase contracts 48,216 70,761
Trade creditors 18,215 10,228
Amounts owed to group undertakings and undertakings in which the company has a participating interest 208,276 180,276
Taxation and social security costs 22,921 17,406
Other creditors 9,166 -
346,443 311,305
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 15,833 25,833
Obligations under finance lease and hire purchase contracts 137,261 199,161
Other creditors - 130
153,094 225,124
7 Other information
Kalstan Engineering Limited is a private company limited by shares and incorporated in England. Its registered office is:
Building 18, Gateway 1000
Whittle Way, Arlington Business Park
Stevenage
Hertfordshire
SG1 2FP
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