Kerr Interiors Angling Ltd - Period Ending 2014-08-31

Registration number: 06805216

Kerr Interiors Angling Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2014
 

Northern Accountants Ltd

Kerr Interiors Angling Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Kerr Interiors Angling Ltd
for the Year Ended 31 August 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Kerr Interiors Angling Ltd for the year ended 31 August 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Kerr Interiors Angling Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Kerr Interiors Angling Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kerr Interiors Angling Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Kerr Interiors Angling Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Kerr Interiors Angling Ltd. You consider that Kerr Interiors Angling Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Kerr Interiors Angling Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Northern Accountants Ltd

27 November 2014

Page 1

Kerr Interiors Angling Ltd
(Registration number: 06805216)
Abbreviated Balance Sheet at 31 August 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					187			249
Current assets
Stocks					30,145			33,461
Debtors					4,710			4,656
Cash at bank and in hand					1,626			1,657
					36,481			39,774
Creditors: Amounts falling due within one year					(100,272)			(88,738)
Net current liabilities					(63,791)			(48,964)
Net liabilities					(63,604)			(48,715)
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(63,704)			(48,815)
Shareholders' deficit					(63,604)			(48,715)

For the year ending 31 August 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 27 November 2014

.........................................
Mr Vincent Paul Kerr
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Kerr Interiors Angling Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	Reducing balance 25%

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Kerr Interiors Angling Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 September 2013		910			910
At 31 August 2014		910			910
Depreciation
At 1 September 2013		661			661
Charge for the year		62			62
At 31 August 2014		723			723
Net book value
At 31 August 2014		187			187
At 31 August 2013		249			249

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary Share Capital of £1 each		100			100			100			100

Page 4