Company Registration No. 09868475 (England and Wales)
Kamtech Fasteners Ltd
Unaudited accounts
for the period from 1 June 2023 to 31 August 2024
Kamtech Fasteners Ltd
Unaudited accounts
Contents
Kamtech Fasteners Ltd
Company Information
for the period from 1 June 2023 to 31 August 2024
Directors
Gary Moseley
Franck De Bruyne
Steven Auld
Company Number
09868475 (England and Wales)
Registered Office
Scell-It
Unit 7
Beacon Business Park, Beacon Way
Stafford
Staffordshire
ST18 0DG
England
Kamtech Fasteners Ltd
Statement of financial position
as at 31 August 2024
Tangible assets
2,377
3,457
Inventories
110,673
87,691
Cash at bank and in hand
36,879
2,375
Creditors: amounts falling due within one year
(275,403)
(309,930)
Net current assets
346,727
327,044
Total assets less current liabilities
349,104
330,501
Creditors: amounts falling due after more than one year
(6,787)
(20,753)
Provisions for liabilities
Net assets
341,722
308,883
Called up share capital
100
100
Profit and loss account
341,622
308,783
Shareholders' funds
341,722
308,883
For the period ending 31 August 2024 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2024 and were signed on its behalf by
Steven Auld
Director
Company Registration No. 09868475
Kamtech Fasteners Ltd
Notes to the Accounts
for the period from 1 June 2023 to 31 August 2024
Kamtech Fasteners Ltd is a private company, limited by shares, registered in England and Wales, registration number 09868475. The registered office is Scell-It, Unit 7, Beacon Business Park, Beacon Way, Stafford, Staffordshire, ST18 0DG, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% on reducing balance
Computer equipment
33% on cost
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Kamtech Fasteners Ltd
Notes to the Accounts
for the period from 1 June 2023 to 31 August 2024
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statements of Income and Retained Earnings. 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 discounts.
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 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.
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 purchasing 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.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 June 2023
9,695
4,386
14,081
At 31 August 2024
9,695
4,386
14,081
At 1 June 2023
6,238
4,386
10,624
Charge for the period
1,080
-
1,080
At 31 August 2024
7,318
4,386
11,704
At 31 August 2024
2,377
-
2,377
At 31 May 2023
3,457
-
3,457
Kamtech Fasteners Ltd
Notes to the Accounts
for the period from 1 June 2023 to 31 August 2024
Amounts falling due within one year
Trade debtors
315,995
290,931
Accrued income and prepayments
6,683
2,799
Amounts falling due after more than one year
Amounts due from group undertakings etc.
151,801
-
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,648
9,994
Trade creditors
15,255
15,496
Taxes and social security
50,432
18,602
Other creditors
110,316
244,641
Included in Other Creditors is an amount of £109,514 (2023 - £244,641) relating to Invoice Finance.
The amounts due to Invoice Finance are secured by way of a fixed charge over the Trade Debtors and a floating charge over the Other Assets.
7
Creditors: amounts falling due after more than one year
2024
2023
8
Deferred taxation
2024
2023
Accelerated capital allowances
595
865
Provision at start of period
865
1,153
Credited to the profit and loss account
(270)
(288)
Provision at end of period
595
865
Kamtech Fasteners Ltd
Notes to the Accounts
for the period from 1 June 2023 to 31 August 2024
9
Operating lease commitments
2024
2023
At 31 August 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
9,180
-
Later than one year and not later than five years
6,743
14,583
The company is a 100% owned subsidiary of Scell-it (UK) Group Limited whose Registered Office is Unit 7 Beacon Business Park, Beacon Way, Stafford, ST18 0DG.
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Average number of employees
During the period the average number of employees was 5 (2023: 6).