J Kirby Electrical Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07554125 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2019

FOR

J KIRBY ELECTRICAL LTD

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

5

26,687

43,836

CURRENT ASSETS

Stocks

500

2,000

Debtors

6

19,178

11,471

Cash at bank and in hand

22,067

32,726

41,745

46,197

CREDITORS

Amounts falling due within one year

7

40,198

23,687

NET CURRENT ASSETS

1,547

22,510

TOTAL ASSETS LESS CURRENT LIABILITIES

28,234

66,346

PROVISIONS FOR LIABILITIES

8

4,537

-

NET ASSETS

23,697

66,346

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

23,696

66,345

SHAREHOLDERS' FUNDS

23,697

66,346

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss account has not been delivered.

The financial statements were approved by the director on 23 October 2019 and were signed by:

Mr J H Kirby - Director

1.	STATUTORY INFORMATION

J Kirby Electrical Ltd is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address are as below:

Registered number:

07554125

Registered office:

53 Gildredge Road

Eastbourne

East Sussex

BN21 4SF

2.	STATEMENT OF COMPLIANCE

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

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Equipment

-

25% on cost

All fixed assets are initially recorded at cost.

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

Financial liabilities and equity instruments are classified according to the substance of the

contractual arrangements entered into. An equity instrument is any contract that evidences a

residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are

equivalent to a similar debt instrument, those financial instruments are classed as financial

liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and

gains or losses relating to financial liabilities are included in the profit and loss

account.Finance costs are calculated so as to produce a constant rate of return on the

outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of

a financial liability then this is classed as an equity instrument. Dividends and distributions

relating to equity instruments are debited direct to equity.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and

Loss account, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2018 - 4 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Equipment

Totals

£

£

£

£

£

COST

At 1 April 2018

11,084

1,419

63,580

898

76,981

Additions

704

-

-

1,081

1,785

Disposals

-

(557

)

(17,500

)

-

(18,057

)

At 31 March 2019

11,788

862

46,080

1,979

60,709

DEPRECIATION

At 1 April 2018

6,494

347

26,089

215

33,145

Charge for year

1,234

216

6,912

355

8,717

Eliminated on disposal

-

(184

)

(7,656

)

-

(7,840

)

At 31 March 2019

7,728

379

25,345

570

34,022

NET BOOK VALUE

At 31 March 2019

4,060

483

20,735

1,409

26,687

At 31 March 2018

4,590

1,072

37,491

683

43,836

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

14,598

8,289

Other debtors

2,174

1,309

Prepayments and accrued income

2,406

1,873

19,178

11,471

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Corporation tax

8,453

3,859

PAYE and social security

864

-

VAT

7,720

-

Directors' current accounts

21,997

8,663

Accruals and deferred income

1,164

11,165

40,198

23,687

8.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

Accelerated capital allowances

4,537

-

Deferred

tax

£

Provided during year

4,537

Balance at 31 March 2019

4,537

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

1

Ordinary

£1

1

1

10.	RELATED PARTY DISCLOSURES

Included in creditors is a loan from the director to the value of £21,997 (2018: £8,663). This

loan is interest free and repayable upon demand.

11.	FIRST YEAR ADOPTION

These are the first financial statements that comply with FRS 102. The company transitioned

to FRS 102 on 1 April 2017.

No transitional adjustments were required in equity or profit and loss for the year.