Knights Country Kitchens Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07097679

Abbreviated Unaudited Accounts

For The Year Ended 31st December 2014

for

Knights Country Kitchens Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs G Copsey

Mr M Wimpress

Ms H Wimpress

Mrs J Wimpress

REGISTERED OFFICE:

C/O Morgan Woods Accountants

Alpha 6, Masterlord Office Village

West Road, Ransomes Europark

Ipswich

Suffolk

IP3 9SX

REGISTERED NUMBER:

07097679

ACCOUNTANTS:

Aston Shaw Accountants

Alpha 6, Masterlord Office

West Road

Ransomes Europark

Ipswich

Suffolk

IP3 9SX

FIXED ASSETS

Intangible assets

2

72,946

77,810

Tangible assets

3

27,264

16,641

100,210

94,451

CURRENT ASSETS

Stocks

17,364

16,538

Debtors

8,929

318

Cash at bank

7,008

14,350

33,301

31,206

CREDITORS

Amounts falling due within one year

120,236

116,064

NET CURRENT LIABILITIES

(86,935

)

(84,858

)

TOTAL ASSETS LESS CURRENT LIABILITIES

13,275

9,593

CREDITORS

Amounts falling due after more than one year

(3,194

)

-

PROVISIONS FOR LIABILITIES

(1,867

)

(3,071

)

NET ASSETS

8,214

6,522

CAPITAL AND RESERVES

Called up share capital

4

6

6

Profit and loss account

8,208

6,516

SHAREHOLDERS' FUNDS

8,214

6,522

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 18th May 2015 and were signed on its behalf by:

Mr M Wimpress - 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 2009, is being amortised evenly over its estimated useful life of twenty years.

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 reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

25% on cost

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Going concern

These financial statements have been prepared on the going concern basis. The Directors consider this basis to

be appropriate but have not assessed a period in excess of 12 months from the date of approving the accounts.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st January 2014

and 31st December 2014

97,262

AMORTISATION

At 1st January 2014

19,452

Amortisation for year

4,864

At 31st December 2014

24,316

NET BOOK VALUE

At 31st December 2014

72,946

At 31st December 2013

77,810

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st January 2014

29,619

Additions

18,984

Disposals

(6,991

)

At 31st December 2014

41,612

DEPRECIATION

At 1st January 2014

12,978

Charge for year

4,782

Eliminated on disposal

(3,412

)

At 31st December 2014

14,348

NET BOOK VALUE

At 31st December 2014

27,264

At 31st December 2013

16,641

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/14

31/12/13

value:

£

£

1

Ordinary B

£1

2

2

2

Ordinary A

£1

1

1

1

Ordinary D

£1

1

1

1

Ordinary C

£1

1

1

1

Ordinary E

£1

1

1

6

6

5.	ULTIMATE CONTROLLING PARTY

During this period and the preceeding period the company was under the ultimate control of Mr M & Mrs J

Wimpress, who are the Directors and the Ordinary A shareholders.