NKW Trading Limited 31/08/2018 iXBRL

NKW Trading Limited 31/08/2018 iXBRL

NKW TRADING LTD - Company Information

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Statement of consent to prepare abridged financial statements
All of the members of NKW Trading Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the current year ending 31 August 2018 in accordance with Section 444(2A) of the Companies Act 2006.
Company registration number: 08644791
NKW Trading Limited
Unaudited filleted abridged financial statements
31 August 2018
NKW Trading Limited
Contents
Directors and other information
Abridged statement of financial position
Notes to the financial statements
NKW Trading Limited
Directors and other information
Directors N. K. Ward
Secretary Lisa Duvar
Company number 08644791
Registered office Ground Floor, Southon House
Station Approach
Edenbridge
Kent
TN8 5LP
Business address 82 Ashen Grove
Wimbledon Park
London
SW19 8BN
Accountants Accounts Action (SE) Limited
Ground Floor, Southon House
Station Approach
Edenbridge
Kent
TN8 5LP
NKW Trading Limited
Abridged statement of financial position
31st August 2018
2018 2017
Note £ £ £ £
Fixed assets
Tangible assets 5 ( 747) 847
_______ _______
( 747) 847
Current assets
Debtors 460 -
Cash at bank and in hand 983 3,880
_______ _______
1,443 3,880
Creditors: amounts falling due
within one year ( 9,312) ( 11,713)
_______ _______
Net current liabilities ( 7,869) ( 7,833)
_______ _______
Total assets less current liabilities ( 8,616) ( 6,986)
_______ _______
Net liabilities ( 8,616) ( 6,986)
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account ( 8,617) ( 6,987)
_______ _______
Shareholders deficit ( 8,616) ( 6,986)
_______ _______
For the year ending 31 August 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 10 May 2019 , and are signed on behalf of the board by:
N. K. Ward
Director
Company registration number: 08644791
NKW Trading Limited
Notes to the financial statements
Year ended 31st August 2018
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ground Floor, Southon House, Station Approach, Edenbridge, Kent, TN8 5LP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible 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 reverses 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
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
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 groups of assets.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2017: Nil).
5. Tangible assets
£
Cost
At 1st September 2017 2,009
Disposals ( 2,009)
_______
At 31st August 2018 -
_______
Depreciation
At 1st September 2017 1,161
Charge for the year 212
Disposals ( 626)
_______
At 31st August 2018 747
_______
Carrying amount
At 31st August 2018 ( 747)
_______
At 31st August 2017 848
_______
6. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2018
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
N. K. Ward ( 11,212) 2,225 - ( 8,987)
_______ _______ _______ _______
2017
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
N. K. Ward ( 16,923) ( 6,269) 11,980 ( 11,212)
_______ _______ _______ _______