Ken Stewart Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06874106 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

KEN STEWART LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr K Stewart

Mrs J A Stewart

REGISTERED OFFICE:

Rex Buildings

Alderley Road

Wilmslow

Cheshire

SK9 1HY

REGISTERED NUMBER:

06874106 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

3,626

5,677

3,626

5,677

CURRENT ASSETS

Debtors

6

324,313

166,542

Cash at bank

11,236

19,401

335,549

185,943

CREDITORS

Amounts falling due within one year

7

42,011

51,880

NET CURRENT ASSETS

293,538

134,063

TOTAL ASSETS LESS CURRENT LIABILITIES

297,164

139,740

PROVISIONS FOR LIABILITIES

391

1,079

NET ASSETS

296,773

138,661

CAPITAL AND RESERVES

Called up share capital

107

107

Retained earnings

296,666

138,554

296,773

138,661

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 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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 20 December 2019 and were signed on its behalf by:

Mr K Stewart - Director

1.	STATUTORY INFORMATION

Ken Stewart Ltd 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.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

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. The financial statements have been prepared under the historical cost convention.

RELATED PARTY EXEMPTION

The company has taken advantage of exemption, under the terms of Financial Reporting Standard

102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose

related party transactions with wholly owned subsidiaries within the group.

TURNOVER

The turnover shown in the profit and loss account represents amount earned during the year and is

recognised when the company obtains the right to consideration.

GOODWILL

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of three 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 the cost less estimated residual value of each asset over its estimated useful life.

Computer equipment

-

20% on cost

All fixed assets are initially recorded at cost.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

130,000

AMORTISATION

At 1 April 2018

and 31 March 2019

130,000

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

-

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2018

and 31 March 2019

10,255

DEPRECIATION

At 1 April 2018

4,578

Charge for year

2,051

At 31 March 2019

6,629

NET BOOK VALUE

At 31 March 2019

3,626

At 31 March 2018

5,677

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

52,515

23,142

Directors' current accounts

270,305

141,921

Prepayments and accrued income

1,493

1,479

324,313

166,542

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Tax

39,766

49,791

Accrued expenses

2,245

2,089

42,011

51,880

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2019

and the period ended 31 March 2018:

2019

2018

£

£

Mr K Stewart

Balance outstanding at start of year

141,921

-

Amounts advanced

131,658

141,921

Amounts repaid

(3,274

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

270,305

141,921

During the year,the directors borrowed £270,305 from the company.Interest has been charged

at the HMRC official rate.The loan is repayable on demand.