K & J Pipeline Supplies Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07716965 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2014

FOR

K & J PIPELINE SUPPLIES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTORS:

K Williams

Mrs A J Williams

REGISTERED OFFICE:

Dynevor House

5-6 De La Beche Street

Swansea

SA1 3HA

REGISTERED NUMBER:

07716965 (England and Wales)

ACCOUNTANTS:

John F. Harvey

Dynevor House

5-6 De La Beche Street

Swansea

SA1 3HA

FIXED ASSETS

Tangible assets

2

9,719

15,560

CURRENT ASSETS

Stocks

16,000

14,500

Debtors

3

126,044

104,752

Cash at bank and in hand

64,728

22,286

206,772

141,538

CREDITORS

Amounts falling due within one year

152,625

101,891

NET CURRENT ASSETS

54,147

39,647

TOTAL ASSETS LESS CURRENT LIABILITIES

63,866

55,207

CREDITORS

Amounts falling due after more than one year

(24,882

)

(30,150

)

PROVISIONS FOR LIABILITIES

(1,448

)

(2,507

)

NET ASSETS

37,536

22,550

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

37,534

22,548

SHAREHOLDERS' FUNDS

37,536

22,550

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 22 May 2015 and were signed on its behalf by:

K Williams - 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.

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

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

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 material timing differences that have originated but not

reversed at the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2013

28,063

Additions

1,163

At 31 August 2014

29,226

DEPRECIATION

At 1 September 2013

12,503

Charge for year

7,004

At 31 August 2014

19,507

NET BOOK VALUE

At 31 August 2014

9,719

At 31 August 2013

15,560

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 1,000 (2013 - £ 1,000 )

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

2

Ordinary

£1

2

2

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages two to five) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of K & J Pipeline Supplies Limited for the year ended 31 August 2014

which comprise the Profit and Loss Account, the Balance Sheet and the related notes 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 K & J Pipeline Supplies Limited, as a body, in accordance with the terms of our engagement letter dated 6 September 2011. Our work has been undertaken solely to prepare for your approval the financial statements of K & J Pipeline Supplies Limited and state those matters that we have agreed to state to the Board of Directors of K & J Pipeline Supplies Limited, 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 the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that K & J Pipeline Supplies Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of K & J Pipeline Supplies Limited. You consider that K & J Pipeline Supplies Limited 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 financial statements of K & J Pipeline

Supplies Limited. 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 financial statements.

John F. Harvey

Dynevor House

5-6 De La Beche Street

Swansea

SA1 3HA

22 May 2015