Keen Electronics Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 02613501 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 May 2014

for

Keen Electronics Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

M J Keen

N Keen

Ms T Speirs

REGISTERED OFFICE:

202 Aylesbury Road

Bierton

Aylesbury

Buckinghamshire

HP22 5DT

REGISTERED NUMBER:

02613501 (England and Wales)

ACCOUNTANTS:

Danton Partners Ltd

Chartered Management Accountants

7 Merlin Centre

Gatehouse Close

Aylesbury

Buckinghamshire

HP19 8DP

FIXED ASSETS

Tangible assets

2

940

1,175

CURRENT ASSETS

Stocks

6,981

12,309

Debtors

9,594

20,523

Prepayments and accrued income

430

430

Cash at bank

18,220

21,635

35,225

54,897

CREDITORS

Amounts falling due within one year

14,223

28,243

NET CURRENT ASSETS

21,002

26,654

TOTAL ASSETS LESS CURRENT LIABILITIES

21,942

27,829

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

21,842

27,729

SHAREHOLDERS' FUNDS

21,942

27,829

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 29 January 2015 and were signed on its behalf by:

M J Keen - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Plant and machinery

-

18% 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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2013

and 31 May 2014

6,968

DEPRECIATION

At 1 June 2013

5,793

Charge for year

235

At 31 May 2014

6,028

NET BOOK VALUE

At 31 May 2014

940

At 31 May 2013

1,175

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100