Key Business Skills Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04736514 (England and Wales)

Unaudited Financial Statements

For The Period 1 June 2017 to 30 September 2018

for

Key Business Skills Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr P Toon

SECRETARY:

Mr P Toon

REGISTERED OFFICE:

45 Sheaf Street

Daventry

Northamptonshire

NN11 4AA

REGISTERED NUMBER:

04736514 (England and Wales)

ACCOUNTANTS:

Cottons Accountants LLP

1 Billing Road

Northampton

Northamptonshire

NN1 5AL

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,028

1,210

1,028

1,210

CURRENT ASSETS

Stocks

6

4,180

5,160

Debtors

7

1,126

4,578

Cash at bank

384

2,343

5,690

12,081

CREDITORS

Amounts falling due within one year

8

4,321

8,717

NET CURRENT ASSETS

1,369

3,364

TOTAL ASSETS LESS CURRENT LIABILITIES

2,397

4,574

PROVISIONS FOR LIABILITIES

195

230

NET ASSETS

2,202

4,344

CAPITAL AND RESERVES

Called up share capital

10

135

135

Retained earnings

2,067

4,209

SHAREHOLDERS' FUNDS

2,202

4,344

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 8 November 2018 and were signed by:

Mr P Toon - Director

1.	STATUTORY INFORMATION

Key Business Skills 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value

added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Office Equipment

-

15% on reducing balance

Stocks

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

items.

Taxation

Taxation for the period 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2017 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2017

and 30 September 2018

55,000

AMORTISATION

At 1 June 2017

and 30 September 2018

55,000

NET BOOK VALUE

At 30 September 2018

-

At 31 May 2017

-

5.	TANGIBLE FIXED ASSETS

Office

Equipment

£

COST

At 1 June 2017

and 30 September 2018

9,702

DEPRECIATION

At 1 June 2017

8,492

Charge for period

182

At 30 September 2018

8,674

NET BOOK VALUE

At 30 September 2018

1,028

At 31 May 2017

1,210

6.

STOCKS

30/9/18

31/5/17

£

£

Stock & work in progress

4,180

5,160

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/18

31/5/17

£

£

Trade debtors

-

4,220

Other debtors

1,126

358

1,126

4,578

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/18

31/5/17

£

£

Trade creditors

-

149

Tax

459

2,863

Social security and other taxes

61

103

Directors' current accounts

2,001

3,802

Accruals and deferred income

1,800

1,800

4,321

8,717

9.	SECURED DEBTS

There is a fixed and floating charge over the assets of the company in favour of HSBC Bank plc.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/9/18

31/5/17

value:

£

£

100

Ordinary A

£1

100

100

35

Ordinary B

£1

35

35

135

135