General Information
KUT MACHINERY LTD is a private company, limited by shares, registered in England and Wales, registration number 16265181, registration address Unit 10 Deepmore Close, Four Ashes, Wolverhampton, WV10 7ED.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Revenue from contracts for the provision of services is recognised by reference to the stage of completion and where the amount of revenue can be measured reliably.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Plant and Machinery |
20% Reducing Balance
|
| Motor Vehicles |
25% Reducing Balance
|
| Fixtures and Fittings |
20% Reducing Balance
|
| Computer Equipment |
33% Straight Line
|
Stocks
Stocks 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 costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the period was 2.
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Plant and Machinery |
|
Motor Vehicles |
|
Fixtures and Fittings |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
|
£ |
| At 20 February 2025 |
- |
|
- |
|
- |
|
- |
|
- |
| Additions |
400 |
|
12,500 |
|
4,549 |
|
532 |
|
17,981 |
| Disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 28 February 2026 |
400 |
|
12,500 |
|
4,549 |
|
532 |
|
17,981 |
| Depreciation |
| At 20 February 2025 |
- |
|
- |
|
- |
|
- |
|
- |
| Charge for period |
26 |
|
1,042 |
|
597 |
|
54 |
|
1,719 |
| On disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 28 February 2026 |
26 |
|
1,042 |
|
597 |
|
54 |
|
1,719 |
| Net book values |
| Closing balance as at 28 February 2026 |
374 |
|
11,458 |
|
3,952 |
|
478 |
|
16,262 |
| Opening balance as at 20 February 2025 |
- |
|
- |
|
- |
|
- |
|
- |
|
| 4. |
Stocks
|
2026
£ |
| Stocks |
227,500 |
|
227,500 |
|
| 5. |
Debtors: amounts falling due within one year
|
2026
£ |
| Trade Debtors |
114,130 |
| Prepayments & Accrued Income |
20,523 |
| Other Debtors |
9,840 |
| VAT |
20,753 |
|
165,246 |
|
| 6. |
Creditors: amount falling due within one year
|
2026
£ |
| Trade Creditors |
92,963 |
| Other Loan |
223,125 |
| Corporation Tax |
50,131 |
| PAYE & Social Security |
1,805 |
| Pension Control Account |
582 |
| Accrued Expenses |
7,200 |
| Directors' Current Accounts |
9,121 |
|
384,927 |
Included within creditors due within one year is a loan of £210,000 from a third party. The loan does not have a fixed repayment term and carries a total interest of 6.25% on the principal. The loan is measured at the amount repayable, which includes the principal and any interest payable. No repayment schedule has been agreed, and the total interest has been included in the liability balance.
During the financial year, the company also obtained a short-term loan of £100,000, which was fully repaid within the year. Interest of 6.25% on this loan was payable after the repayment date and has been recognised as an expense in the period in which it was incurred.
|
| 7. |
Provisions for liabilities
|
2026
£ |
| Deferred Tax |
4,002 |
|
4,002 |
|
| 8. |
Share Capital
Authorised
2 Ordinary shares of £1.00 each
Allotted, called up and fully paid
|
2026
£ |
|
2
Ordinary shares of £1.00 each |
2 |
|
2 |
|
3
|