REGISTERED NUMBER: 03792771 (England and Wales)

K & S European Services Limited

Unaudited Financial Statements

for the Year Ended 31 December 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Didomenico

K Kirchner

SECRETARY:

K Kirchner

REGISTERED OFFICE:

Unit 20 Darwell Park

Mica Close

Tamworth

Staffordshire

B77 4DR

REGISTERED NUMBER:

03792771 (England and Wales)

ACCOUNTANTS:

Haines Watts

Sterling House

97 Lichfield Street

Tamworth

Staffordshire

B79 7QF

FIXED ASSETS

Tangible assets

4

128,198

142,361

Investments

5

8,576

-

136,774

142,361

CURRENT ASSETS

Stocks

3,357

2,459

Debtors

6

334,055

406,915

Cash at bank and in hand

460

41,364

337,872

450,738

CREDITORS

Amounts falling due within one year

7

397,794

417,621

NET CURRENT (LIABILITIES)/ASSETS

(59,922

)

33,117

TOTAL ASSETS LESS CURRENT LIABILITIES

76,852

175,478

PROVISIONS FOR LIABILITIES

2,879

-

NET ASSETS

73,973

175,478

CAPITAL AND RESERVES

Called up share capital

8

100

100

Revaluation reserve

9

118,015

130,856

Retained earnings

9

(44,142

)

44,522

SHAREHOLDERS' FUNDS

73,973

175,478

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 26 September 2018 and were signed on its behalf by:

K Kirchner - Director

1.	STATUTORY INFORMATION

K & S European Services 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about K & S European Services Limited as an individual company

and do not contain consolidated financial information as the parent of a group. The company is exempt under

Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at fair value of the consideration received or receivable for goods supplies and services

rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have

transferred to the buyer, usually on despatch of the goods; the amount revenue can be measured reliably; it is

probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in

respect of the transactions can be measured reliably.

Tangible fixed assets

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated

depreciation and impairment losses.

Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any

subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive

income and accumulated in capital and reserves, except to the extent it reserves a revaluation decrease of the

same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of

revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation

increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds

the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall

be recognised in profit or loss.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life:

Plant and Machinery - 10% reducing balance

Fixtures and Fittings - 10% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being

estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is

impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the

recoverable amount of the cash generating unit to which the asset belongs. The cash generating unit is the

smallest identifiable group of assets that includes the asset and generates cash inflows that are largely

independent of the cash inflows from other assets or group of assets.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual

provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a

financing transaction, where it is recognised at the present value of the future payments discounted at a market

rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2016 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2017

and 31 December 2017

451,858

DEPRECIATION

At 1 January 2017

309,497

Charge for year

14,163

At 31 December 2017

323,660

NET BOOK VALUE

At 31 December 2017

128,198

At 31 December 2016

142,361

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2017

11,507

Additions

8,576

At 31 December 2017

20,083

PROVISIONS

At 1 January 2017

and 31 December 2017

11,507

NET BOOK VALUE

At 31 December 2017

8,576

At 31 December 2016

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

as restated

£

£

Trade debtors

334,055

302,903

Other debtors

-

104,012

334,055

406,915

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

as restated

£

£

Bank loans and overdrafts

11,593

138

Trade creditors

51,584

68,222

Amounts owed to group undertakings

11,338

37,578

Taxation and social security

54,035

66,860

Other creditors

269,244

244,823

397,794

417,621

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

as restated

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 January 2017

44,522

130,856

175,378

Deficit for the year

(101,505

)

(101,505

)

Transfer in relation to depreciation on revalued assets

12,841

(12,841

)

-

At 31 December 2017

(44,142

)

118,015

73,873

10.	ULTIMATE CONTROLLING PARTY

The controlling party is MCS Facility Support Inc., acompany registered in USA..