Key Business Skills Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04736514 (England and Wales)

Abbreviated Unaudited Accounts

For The Year Ended 31 May 2014

for

Key Business Skills Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs D Powderhill

B R Powderhill

SECRETARY:

B R Powderhill

REGISTERED OFFICE:

45 Sheaf Street

Daventry

Northamptonshire

NN11 4AA

REGISTERED NUMBER:

04736514 (England and Wales)

ACCOUNTANTS:

Cottons Accountants LLP

Regency House

3 Albion Place

Northampton

Northants

NN1 1UD

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

2,026

2,383

2,026

2,383

CURRENT ASSETS

Stocks

5,410

7,150

Debtors

7,149

12,808

12,559

19,958

CREDITORS

Amounts falling due within one year

14,496

21,694

NET CURRENT LIABILITIES

(1,937

)

(1,736

)

TOTAL ASSETS LESS CURRENT LIABILITIES

89

647

PROVISIONS FOR LIABILITIES

-

305

NET ASSETS

89

342

CAPITAL AND RESERVES

Called up share capital

4

135

135

Profit and loss account

(46

)

207

SHAREHOLDERS' FUNDS

89

342

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 21 January 2015 and were signed on its behalf by:

Mrs D Powderhill - 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.

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.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2013

and 31 May 2014

55,000

AMORTISATION

At 1 June 2013

and 31 May 2014

55,000

NET BOOK VALUE

At 31 May 2014

-

At 31 May 2013

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2013

and 31 May 2014

9,702

DEPRECIATION

At 1 June 2013

7,319

Charge for year

357

At 31 May 2014

7,676

NET BOOK VALUE

At 31 May 2014

2,026

At 31 May 2013

2,383

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/5/14

31/5/13

value:

£

£

100

Ordinary A

£1

100

100

35

Ordinary B

£1

35

35

135

135